Our good friends over at Kalkulus have announced a new Treasury Fund for 2019! Read about it in this article from Kalkulus' medium!
On the 1st of January 2019 we successfully completed the Kalkulus Treasury Fund, that was instituted in June of 2018 with the purpose of collecting and increasing available budget to allocate exclusively for development tasks.
Now we are already at work on setup and restart again a new “Kalkulus Treasury Fund”, with the same purpose of supporting and helping future projects growth and development.
All details about the first round where published on a previous article in May 2018: https://medium.com/@kalkulus_team/kalkulus-setup-a-treasury-fund-aiming-on-future-development-7a6d93d7fd41
Worth to explain a little bit about the previous campaign and which was the result: since the treasury fund was launched, we continued with progress on development. Was very hard to keep the project alive with almost irrelevant development funds, no public contribution, crowdfunding campaign or shady sell-off on the market. Nonetheless, the roadmap and the project development weren’t impacted by operating with limited found: we were able to expand the team and boarded TuringLabs as valuable main dev of the project. He introduced high value innovations, fresh ideas and provided an huge contribution on R&D, and this was possible thanks to another part of budget that was allocated and spent for that purpose.
Just as reminder, due to the exploit that we suffered in May 2018 (details here) we had to repay over 428K KLKS to Cryptobridge to fix and refill their internal wallet balance and close the deal. (TX:https://chainz.cryptoid.info/klks/tx.dws?173293.htm)
This was a mandatory condition to reopen trades, and we were able to rebalance that unexpected issue of budget with own team funds.
Also, our internal team structure composed by volunteers and contributors, allowed us to keep working on the project without budget pressure, and we are sure that we reached some milestones that, compared to the available budget, are very important for the project.
An overview of last Treasury Fund
When the first round of Kalkulus Treasury was completed on 1st January 2019, we unlocked the 200K KLKS of collaterals that generated the 10 Treasury masternodes, and used those budget to fund the develoment from June 2018 to January 2019.
This is what we were able to accomplish with that amount, in 6 months.
• The Hub Deployment, Launch and Maintenance
• The Hub layout restyling: home page (launched), main GUI (coming up), mobile version (coming up)
• Video animation for coin announcements with Asura NL
• Deployment of KLKS-dAPI + dAPPS + KLKS-ID + KLKS-KYC + KLKS-Storage(All this have still to be developed for final release + GUI for all those services)
• Bounty for a collaboration for client sourcecode update v2.7.0
• Refund to Crex24 to fix the balance after exploit
• Collaborations with external development teams and graphics
• Advisors collaborations
The available budget generated by the Treasury fund in form of masternode rewards (77,394 KLKS) is locked at this address.
According to the purpose described in the Treasury Fund guidelines, the resulting budget have to be used as fund part of future development, and we are already at work to find the main areas on which to spend the available budget.
There are some idea that are already defined, others have to be improved or verified in their feasibility. Our community members will be involved in submitting proposals that can be further discussed and evaluated by team members and other community members.
To do that, we will use the voting platform developed by the ScryptaChainteam: https://polls.scryptachain.org.
The Scrypta team is doing a massive job on developing a decentralized platform for pools over the blockchain. According to a strong form of collaboration between the two teams we dealed to mutually share some proprietary services.
The second round of Kalkulus Treasury fund will start on April 15th 2019 and will run for 6 months, closing on October 15th 2019. The formula will be slightly different from the previous round: instead to lock coins in 10 masternodes, we will lock the same collateral amount in a public staking address through a Staking V-Box on The Hub, locking also all new minted coins that will be generated during the timeframe.
The staking solution is preferred also for being less expensive: costs per month to maintain a Staking VBox is lower than costs to run and maintain 10 VPS’s.
Another consequence of a new lock of coins in treasury fund will be a major substantial reduction of circulating supply. In support of this reduction, there’s the cut in block rewards table that we already introduced with the last update that will lower even more the inflation rate.
March 29th 2019 reward of another 15% (from 7,7 KLKS to 6,15 KLKS per block). Once the halving occurred, the network will need 2,25 days to produce the full collateral of 20K coins for a masternode. Next halving is planned for July 2019 at block 639917, and will cut the block reward to 5,25 KLKS per block. The finite supply of 20 millions total coins and the deflationary emission rate may reduce the incentive for people to sell their coins, waiting for an increase on value per single coin.
Treasury Fund Rules
- Funds collection will begin on April 15th 2019, will end on October 15th 2019.
- Coins generated from KLKS Treasury Fund cannot be spent from Development Team before October 15th 2019. All expenditures must be approved from Kalkulus community members.
- Coins generated from KLKS Treasury Fund cannot be used to activate masternodes but can only concurr to staking
- Status and balance of the staking address will be public until the campaign close.
If you have any questions or would like to join the Kalkulus Community, here’s where you can track our updates.
The Hub: https://hub.kalkul.us