Nyzo Community Fund Proposals

The Nyzo Community Fund represents a huge step towards TRUE decentralization for Nyzo and a standard that others in the crypto community will hopefully follow. Nyzo devs have locked the entire remainder of supply (~77m coins as of 1.25.2020) in a Community/Cycle controlled wallet. At the time of writing, using the USD price ($.30) here and the fund amount here this fund is worth roughly $23,136,159 - a significant amount of potential funding even at such a young stage of the project. Any use of these funds requires a > 50% vote to unlock at most 100k Nyzo at a time. This is a huge responsibility and opportunity for those in the cycle and the community at large to use these funds wisely to pursue the development and mission of Nyzo.

Steps Posting NCFP’s on Forum:

  1. Go to Homepage.
  2. Click NCFP Community Fund Proposals Category
  3. Choose “New Topic”
  4. Title should start with NCFP-… (next # in line)

This category is for proposals regarding the Nyzo Community Fund. The guidelines for proposals described below exist so that we as a community can work to ensure the highest quality entries. We encourage participation from the general public and community, but we hope that these proposals can be treated seriously as they have the potential to impact the community quite a bit.

Should include as much supportive information as possible. Examples:

    • Background
    • Proposal
    • Cost
    • Competitive Analysis
    • Chief Risks and Mitigation
    • Funding Details
    • Certification

Helpful tips on making a good proposal:

1. Clearly define what you want to accomplish.
Bad: Funds will be used for marketing purposes.
Good: Funds will be used to increase click-through rates on nyzo.co and nyzo.io, and increase the presence of the $nyzo cashtag on Twitter.com and Instagram.com.

2. Explain why your proposal is important.
Bad: Nyzo is an awesome project.
Good: A comprehensive security analysis of the Nyzo codebase has not been conducted to date. Dedicated pentesting of cryptocurrency codebases can often reveal vulnerabilities in code logic that degrade the user experience and may cause hot-wallets to be compromised (ref1, ref2, ref3).

3. Define metrics that others can use to evaluate your proposal.
Bad: A successful listing on an exchange.
Good: A successful listing on a U.S. or international exchange with a non-fake average daily trading volume of at least 100 BTC.

4. List key risks and how you plan to address them.
Bad: We’ll try to figure it out.
Good: If initial keyword targeting fails to increase click-through rates (At least a 50% increase in CTR or 50% increase in total page views, measured by Alexa rank), keyword targeting will be narrowed and intensified on key platforms (Twitter.com) to conserve advertising budget.

5. Define how much you need, and do a competitive analysis.
Bad: About 10,000 nyzo are needed for this proposal.
Good: Analysis of pricing from Company A and B (see attached) suggests that the offered amount of XXXX$ is competitive. This translates into a current price of 10,000-12,000 nyzo, subject to exchange risk fluctuations.