The Starlay Chan Initiative (SCI) is composed of two core contributors, @SeiyaChida and @David, who are dedicated to actively participating in Starlay’s governance and contributing to the protocol’s success. As the Starlay ecosystem matures, having diverse and independent service providers is crucial for driving the protocol forward.
To continue our efforts and serve the Starlay community effectively, we are seeking a six-month budget allocation. This budget will support our ongoing initiatives and enable us to expand our team and resources for maximum impact.
- Actively participate in Starlay governance discussions and votes
- Develop and submit snapshot votes
- Engage with the community on forum discussions
- Collaborate with stakeholders
- Implement delegate function
- Enhance Starlay DAO treasury management.
- Support initiatives and actively participate in efforts to improve treasury efficiency.
- Drive the adoption of strategic investments, diversification, and risk mitigation in treasury allocation.
- Establish a cost-conscious culture and ensure responsible spending from the treasury for the benefit of the Starlay protocol and its users.
- Support the expansion of Starlay in “new frontiers” networks like Wasm and Polkadot ecosystem.
- Support the onboarding of new stablecoins, strategic assets
- Explore synergies with other DeFi platforms
- Conduct in-depth research on DeFi trends and developments
- Provide insights and recommendations to the Starlay community
- Analyze the performance of Starlay governance decisions
- Grow the SCI team to support the Starlay ecosystem better
- Cover operational expenses, including tools, and subscriptions
- Invite core contributors for Starlay’s growth, risk assessment, analysis
- Regularly schedule and promote a community call on our Discord channel, boosting engagement and direct communication with our community.
- Develop and execute a content calendar for our official Twitter account, including announcements, partnerships, feature highlights, and user stories.
- Prioritize responsiveness on our Discord to maintain trust and transparency.
Here are some notable achievements and contributions made by the Starlay Chan Initiative(Seiya Chida and David):
Governance initiation: Seiya and David have been instrumental in establishing the governance structure for Starlay. They’ve been key contributors in formulating and implementing policies, leading to the creation of a robust and responsive governance system that ensures smooth operation and decision-making processes within the Starlay community.
Governance improvement: Their continuous efforts in governance improvement have resulted in several critical enhancements to the system. This includes designing and deploying a more efficient voting mechanism, improving transparency in decision-making, and setting up a system for community members to submit proposals. These improvements have significantly increased community participation and engagement in governance
- Elevated the governance framework:
- Engaged in discussions & feedback:
- Submitted key proposals:
Protocol growth expansion: Seiya and David have been proactive in driving the growth of the Starlay protocol. This includes proposing and implementing strategic partnerships, asset integrations, and market expansions. We’ve also played a role in onboarding new collateral assets, improving the risk management framework, and expanding the user base and liquidity of the protocol
- Approved by the ink!ubator’s Wasm grant
- Approved by the Aleph Zero’s Ecosystem Fund Program
- Engaged in dialogues with potential growth partners, including Algem, JPYC, Interlay, PolkaSafe, Chains, CEXs, and others.
- Implemented AstarSafe multisig wallet for Starlay’s treasury
PR and Communication: As visible figures in the community, Seiya and David have been effective communicators, promoting Starlay to a wider audience and improving its public relations. They’ve been responsible for managing Starlay’s social media channels, organizing community meetups, and representing Starlay in various industry conferences and events. They’ve also fostered positive relationships with other DeFi projects and platforms, improving Starlay’s image and standing in the wider crypto ecosystem.
- Achieved the #1 monthly social performance of Astar Netwrok
- Initiated monthly community call
- Managed and facilitated communication on our Discord
- Maintained our Twitter announcements
- Maintained the announcement for Starlay Voting Round
- Managed veLAY voting reward calculations and announcements
We’ve been working tirelessly for Starlay. And while passion fuels us, the reality is we’re reaching a tipping point. As mentioned briefly in Neo’s article, we’ve been operating without drawing any financial benefits. But let’s face it: to keep the quality and consistency of our work, we need some level of financial support.
Hence, this isn’t a plea for a bonus or a luxury. This is an earnest call for support, a bridge for us to keep serving the community with the same zeal.
So we are requesting a total budget of $54,000 for 6 months period to support our initiatives, team expansion, and operations. This budget will help us:
- Continuation of Current Work: Without support, the risk of burnout or decline in quality is inevitable. This budget will allow us to sustainably carry on our endeavors, ensuring Starlay’s growth isn’t compromised.
- Operational Expenses: There are costs behind the scenes – tools, subscriptions, and other essentials. These aren’t extravagant spends but basic necessities to keep the wheels turning.
- Team Augmentation: Starlay’s ambitions are vast, and a one-man show won’t cut it. We need to broaden the SCI team, bringing in more hands on deck, enriching the community’s experience, and broadening our horizons.
- Strengthening DeFi Presence: With added funds, we can actively keep engaging with other DeFi DAOs, championing Starlay’s interests, and discovering mutual growth avenues.
Our Vision Beyond Maintenance
While maintaining the current momentum is crucial, channeling these funds into SCI won’t just ensure the status quo; it’s an investment into a brighter and more expansive future for Starlay. It’s essential for you to know that with this budget, we are not just looking at the ‘now,’ but also the ‘next.’
Expanding Across Chains:SCI plans to expand Starlay to new chains so that more people can use it, and like Astar and Polkadot’s philosophy, we will also have cross-chain capabilities through XCM. We are also considering expanding to other chains, not just in the Polkadot ecosystem. Of course, we are acting with Astar as our first priority.
Pioneering a Decentralized DAO Model: Starlay is taking steps toward a complete DAO like AAVE and MakerDAO. Already the Founder members can no longer make any decisions on their own. From now on, the LAY holders are the decision-makers, and SCI plans to continue to develop the system for this purpose.
Expand Our Asset Array: Safety is of utmost importance to DeFi, especially Lending. To avoid accidents, the assets being listed on the protocol need to be carefully discussed, and with the knowledge of DeFi, SCI will actively continue this discussion in order to increase the number of assets that can be safely traded.
If the discussion is successful and the community supports this proposal, we will move forward with a formal submission of the proposal. We commit to maintaining transparency throughout the process and regularly updating the community on our progress.
Thank you for considering our proposal. We appreciate your support and look forward to working together to drive the success of the Starlay protocol.