- The Stellar Community Fund (SCF) is undergoing its fifth iteration, focusing on supporting projects for the upcoming Soroban Mainnet launch and enhancing community empowerment.
- Introduction of Neural Quorum Governance and revamped award processes are central to SCF’s latest updates, aiming to increase transparency, engagement, and support for blockchain projects.
The Stellar Community Fund (SCF) has undergone a significant evolution since its inception in 2016, continuously adapting to support the network’s growth. With the imminent launch of Soroban on Stellar’s public network, the SCF is receiving a major upgrade, driven by community feedback, to better facilitate the upcoming projects and amplify community involvement in the awards process.
1/ Introducing the new and supercharged Stellar Community Fund (SCF), our open-application awards program, to support the next generation of companies building on blockchain. Learn about the new changes and how to grow with Stellar 👇https://t.co/LqhXSgMTlN pic.twitter.com/W416GUnEpZ
— Stellar (@StellarOrg) November 9, 2023
Empowering Stellar’s Community and Innovators: Introducing Neural Quorum Governance
Boosting Transparency and User Experience
The SCF website has undergone a significant refresh, showcasing the vibrant community and previously awarded projects. This redesign, focused on transparency and user experience, features a more organized project directory and a new community section to welcome and engage new members.
Revolutionizing Support: Stellar Community Fund Streamlines Award Structure for Blockchain Projects
The SCF has updated its award structure to address discrepancies between panel reviews and community votes. There are now two types of awards: Activation Awards, offering up to $50K worth of XLM for initial development, and Community Awards, providing up to $100K worth of XLM for further development. These awards are allocated based on a distributed review panel and community input, respectively, with submission deadlines every four weeks.
SCF’s Future Vision: Innovating for Growth in the Blockchain Ecosystem
The SCF team is not resting on its laurels, with plans to automate Verified Member tiers, renew the SCF Startup Camp, collaborate with growth partners, and introduce security audit and infrastructure credits. These initiatives aim to streamline the support process for projects and enhance community participation.
Open Call for Innovators
Developers and innovators looking to build on Stellar and Soroban are encouraged to apply for the SCF before the next deadline on December 3rd. Additionally, those interested in participating in governance can join the community discussions today.
The SCF’s latest iteration marks a new era of community empowerment and support for blockchain innovation. With these enhancements, the SCF is poised to play a crucial role in shaping the future of blockchain projects on the Stellar network, fostering a more engaged, transparent, and innovative ecosystem.