Starlay Chan Initiative (SCI) 6-month budget request

Discussion
1

Title

Starlay Chan Initiative (SCI) 6-month budget

Author

@SeiyaChida (Starlay Chan Initiative)

Motivation

The Starlay Chan Initiative (SCI), spearheaded by core contributors @SeiyaChida and @David, is committed to actively engaging in Starlay’s governance and contributing to the protocol’s advancement. As Starlay’s ecosystem grows, the presence of diverse and independent service providers becomes essential to propel the protocol forward.

In order to persist in our endeavors and effectively serve the Starlay community, we are requesting a budget allocation for a six-month period. This budget will underpin our current initiatives and facilitate our team’s expansion and the procurement of necessary resources for an optimal impact.

Specification

SCI’s current & future area of focus

Governance Improvement

  • Actively participate in Starlay governance discussions and votes
  • Develop and submit snapshot votes
  • Engage with the community on forum discussions
  • Collaborate with stakeholders
  • Build better governance mechanism

Protocol and Ecosystem Development

  • Support the expansion of Starlay in LST leverage staking
  • Support the expansion of Starlay in “new frontiers” chains in Polkadot ecosystem and other chains.
  • Support the onboarding of new stablecoins, strategic assets
  • Explore synergies with other DeFi platforms

Research, Analysis and Strategy make

  • Conduct in-depth research on DeFi trends and developments
  • Provide insights and recommendations to the Starlay community
  • Analyze the performance of Starlay and make Starlay’s future strategy

Team Expansion and Operations

  • Grow the SCI team to support the Starlay ecosystem better
  • Cover operational expenses, including tools, subscriptions, gas fees, oracle fees, and so on
  • Invite core contributors for Starlay’s growth, risk assessment, analysis

Facilitate Communication and PR

  • Regularly schedule and promote a community call, boosting engagement and direct communication with our community.
  • Handle Starlay’s official Twitter account, including announcements, partnerships, feature highlights.
  • Prioritize responsiveness on our Discord to maintain trust and transparency.

Previous works

Here are some achievements and contributions made by the Starlay Chan Initiative.

Governance

Protocol and Ecosystem Development

Facilitate Communication and PR

Future product roadmap conceived by SCI

We plan to focus on improving our LST leveraged staking and improve user experience through the development of crosschain lending. Here is the rough roadmap conceived by SCI attached. Please check it out!

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Requested budget

We are requesting a total monthly budget of $23,000, accumulating to $138,000 over six months (Feb - July 2024). This budget is allocated as follows:

  • $5,000 for the bizdev lead
  • $5,000 for one dev lead
  • $9000 for two developers
  • $3,000 for one to two additional bizdev roles
  • $1,000 for miscellaneous reimbursements including API costs, oracle fees, deployment tests on other chains, token launch gas fees, and other incidental expenses.

Next Steps

  • Solicit and consolidate community feedback from this discussion
  • Progress to the proposal (signaling) phase
  • Conduct a Snapshot polling vote
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