Summary
The Starlay Chan Initiative (SCI) is seeking a six-month budget allocation to bolster its commitment to the Starlay community. As Starlay matures, the need for a diverse and proactive team is paramount. The proposed budget aims to finance the continuation of ongoing initiatives and facilitate team expansion for enhanced impact within the ecosystem. Here is the details: Proposal for the Starlay Chan Initiative (SCI) 6-month budget
Motivation
Maintaining momentum is crucial. But this budget isn’t just about keeping pace—it’s an investment in Starlay’s expansive future. We’re not just considering the ‘now,’ but 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.
Specification
Requested budget
$54,000 for 6 months period (Aug 2023 - Jan 2024)
SCI’s Current & Future Areas of Focus
Governance Improvement
Treasury Efficiency and Management
Protocol and Ecosystem Development
Research and Analysis
Team Expansion and Operations
Facilitate Communication and PR
Previous works
Governance initiation
Governance improvement
Protocol growth expansion
PR and Communication
Risk Management
The major risks involve potential misallocation or inefficient use of funds. However, with SCI’s proven track record and commitment to transparency, these risks are considerably minimized. Regular updates and financial reports will ensure the community remains informed about the utilization of funds.
Next Action
The next step is to initiate a discussion on this proposed governance structure here. We invite all community members to provide their feedback and suggestions. After a thorough discussion, we will put the proposal to a vote via Snapshot.
Voting Schedule
Snapshot Voting: Aug 31st, 09:00 UTC - Sep 3rd, 09:00 UTC.
Voting Option
YAE - Approve the proposal
NAE - Reject the proposal