Can anyone participate in Nynja Incubator Program
Here is an excerpt from our whitepaper to help you better understand the Incubator Program:
NYNJA will hold regular contests for entrance to an Incubator Program funded out of the
Community Development token budget. The Incubator Program will provide tokens, tools,
expert guidance and other resources to assist creators and developers of apps, bots,
templates and other digital goods and services. Projects should enhance value for users
and strengthen overall economic activity and sustainability of the NYNJA ecosystem.
Individuals or companies submit their project proposals through the NYNJA Incubator app,
including scope, budget, milestones and information about the team. All NYNJA users are
able to review projects and to stake NYN tokens on those they want to support: 1 NYN
token = 1 vote. The top 3-5 projects with the most votes win. Once a project is approved,
the voter has the option of having their staked NYN tokens returned to them after 3 months
from the time of voting or contributing it to their project (in addition to funds awarded by
NYNJA). In this way voting is ultimately free, but if you want to influence the choice and
help friends get their project approved, you prove your confidence and support for the
project by having your NYN tokens frozen for 3 months.
Bringing in this voting support aspects for project will also work as a proof of concept and
enable NYNJA to benefit from the additional user base that these projects bring in. We
believe this is a democratic way to ensure the best projects are chosen, because the
community interested in the project is willing to back their vote with a temporary loss of
purchasing power.
Does that mean 3-5 project is the total number of projects to be approved, and no more than that? Say, if 7 projects succeed and two are draws what will be the result?
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