DEVVOTE
- Build to help dedicated developers in need -
* Requote for image please *
Our prefunding is now open. See below!1. IntroductionThe blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. Started by Bitcoin, enhanced by Ethereum, this technology is transparent, incorruptible and undeniably. Many developers trying to develop as many applications as possible, and through trial and error, they assure that the technology and possibilities keep evolving so one day the world’s economy can be run on a blockchain.
Many coins derive from the same sources, like we’ve seen after Bitcoin released and gained interests. Some as a simple clone, some a bit more evolved. Combined all techniques and development milestones set by all these altcoin developers, have lead to blockchain technology improvement, where currently the Ethereum platform is king amongst the virtual altcoins with its outstanding possibilities to create smart contracts. These contracts are developed in a programming language, and all code is meant to last forever, transparent, incorruptible and undeniably since the code is tamper proof on the blockchain.
This can even happen in a democratic ecosystem, where members need majority votes before any action can be confirmed or denied. The possibilities are endless, and any smart contract is as smart as the developer can be.
2. The developer's biggest hurdleInnovation mostly comes from imagination. Any developer that has a good idea, concept, or imagination can possibly change the world just by the powers of their minds. All it takes is to write it down in code, and assure that things work as expected.
But like most commercial products, releasing a product without proper marketing is extremely difficult. If we look at the altcoin scene, we see an average of 36 new altcoins, tokens or contracts released every single day of the week. To make things worse for any serious developer wanting to release his product, is the fact that 95% of all those releases are fake, attempted to scam people, or nothing more than just an empty bag of lies and deceive to collect some funds from the usersbase.
Forced to stand out from these kinds of altcoins, developers need to have a solid marketing campaign. Often, those are very expensive to maintain, and many new developers don’t have the resources to promote their product that could be mind blowing, but invisible for the userbase due to the flood of new releases.
3. How DEVVOTE comes in placeDEVVOTE tries to gap the bridge between awesome ideas and a lack of budget to be seen and deliver awesomeness to the world in order to keep evolving and improving blockchain technology. Through a series of events, as described further down the article, DEVVOTE will offer funds to new developers in return for a small fee, that will later be shared with all the shareholders who approved the project.
4. DEVVOTE organizationBefore we can explain how DEVVOTE plans on gathering funds to distribute, the organization structure has to be known and understood. A smart contract will be deployed that holds the organization structure and a majority of votes will be needed in order to change this structure. Arbitrary decisions will be impossible to execute.
The organization will consist of 4 different levels. From top-level to bottom level:
- Executive directors (ClusterToken / DEVVOTE team)
- Board members
- Active members
- Supporting members
To explain their functions and responsibilities, let’s add some detail:
The
supporting members are users that support the DEVVOTE project. Their contribution is considered as donation, and in return they’ll receive DEVVOTE tokens with a ratio of
1000:1.
This means, for every Ethereum they contribute, 1000 DEVVOTE tokens will be received in return.
The
active members are users who can push a project in the voting list. Their contribution will be set at 3 Ethereum to obtain the active member status.
The 3 Ether will go to our shared wallet that will pay the developers for their projects. In return, they’ll receive DEVVOTE tokens with a ratio of
1500:1.
The
board members are users who have the same rights as active members, but they are the users who will vote if projects should be funded or not.
A majority vote of 85% will be needed before any funds are released to a developer, so every board member should do a proper investigation on risk/reward ratio prior to voting.
Their contribution is set at 10 Ethereum that will go to our shared wallet that will pay the developers. In return, they’ll receive DEVVOTE tokens with a ratio of
2500:1.
Board members will receive 4% of the funded project’s token supply to be distributed amongst all members. This will be handled by the smart contract to avoid abuse.
The
Executive directors have the same rights and privileges as the board members. They will receive 1% of the funded token supply.
The smart contract and shared wallets that hold the funds will have a failsafe emergency trigger in case any bug or exploit should be discovered in the future that allows to instantaneously move all funds and tokens to another shared wallet. They can not make any arbitrary decision on the voting mechanism or what project is elected or voted. They can however refuse a project in proven case of scam attempts after a majority confirmation from the board members.
5. DEVVOTE funds and business modelAs seen in the organization section, the funds will come from the
userbase. As business model, we reward investors by distributing our own tokens, called DEVVOTE tokens.
DEVVOTE tokens can be used in a later stage for paid services, like advertising, campaigning, code development, graphical work, and so on.
The DEVVOTE concept is build around helping developers, so these services should be made available for them.
We rely on the community build around DEVVOTE that people will offer their services in exchange of DEVVOTE tokens.
For board members, DEVVOTE will distribute 4% of the funded project’s supply
amongst them. Board members are meant to do proper investigation before voting a project, so their vote will only be made when they deem a project successful.
Receiving some tokens of that specific project will motivate them to help it rise.
6. Project specification.The DEVVOTE project wouldn’t last long if we decided to support any project at random. A list of requirements will have to be completed.
A summary of required information that we will need before making a project eligible for listing exists of:
- Developer’s identity verified by Skype or phone call.
- Projects source code for inspection to prevent selling an empty bag.
- Projects documentation.
- Projects whitepaper
- A working proof of concept.
- An active collaboration with DEVVOTE team on GitHub.
- 5% of the total supply after release, written in the source code.
- This list is not final and can still be adjusted before launching DEVVOTE
DEVVOTE will make all necessary investigation to prevent abuse.
7. Smart contract implementationDEVVOTE will run autonomous on the blockchain without human interaction apart from casting votes for projects. Their will be 4 different smart contracts deployed:
- DevvoteToken: This will be the main token for DEVVOTE.
- DevvoteVoting: This contract will handle the voting
- DevvoteOrganisation: This contract will hold the organization
- DevvoteFinance: This contract will handle all financial transactions
All our contracts will be published on GitHub and have a verified source at
Etherscan.io blockchain explorer. This means DEVVOTE will be 100% transparent and tamper proof. The code can be inspected by anyone and all funds will be 100% safe in a multisignature wallet.
8. TimelineDEVVOTE will be operational starting in October 2017. A testnet version of DEVVOTE will be available for review begin September 2017.
9. Launch and pre-fundingDEVVOTE will have a pre-funding round, where the organization will be created. Board members can only sign up before the DEVVOTE project is running.
Active and supporting members can sign up at any time. To stimulate users joining the project, a bonus will be given during the pre-funding round.
The bonus is set at
20% extra DEVVOTE tokens. All funds are collected using a refundable smart contract.
DEVVOTE is a project by ClusterToken team. More info on ClusterToken can be found at
https://www.clustertoken.io - or -
https://github.com/clustertokenThis ANN is mostly taken from our whitepaper. Therefore, please don't ask where it is, you're reading it until a final version has been published.
This topic is mainly to collect more ideas before we start programming the contracts. We expect constructive feedback from you.
Our pre-funding round and board allocation will be active
Thursday 10/08/2017.
!! PREFUNDING OPEN !! Our official token (
DEVVOTE, symbol
VVE) can be found on Etherscan with a verified source. The token address is
https://etherscan.io/token/0xaf54ec8ecdb396bc61053a3a147bbf981cb97ceeTo participate in the prefunding of Devvote, it's important to have read the above in order to know what amount you need to send.Our Prefunding contract can be found on Etherscan with a verified source. The prefunding is
refundable. This means, if the target is not met, you can get your investement back without any human or arbitrary interaction.
The prefunding contract address is
0xC53Af99A9A508eBf7c5EA04Bf3Cc252e675abb10. It can be seen on Etherscan following
https://etherscan.io/address/0xc53af99a9a508ebf7c5ea04bf3cc252e675abb10
Instructions to participate1. First, read our topic very carefully and choose what rank you wish to have in our organization.
2. Send the amount that corresponds with the rank you wish to have to our prefund contract address
0xC53Af99A9A508eBf7c5EA04Bf3Cc252e675abb10.
3. Reminder of the amounts:
- Board member: 10Eth
- Active member: 3Eth
- Supporting Member: > 0.1Eth
4. Add DevvoteToken to your wallet. Address 0xaf54ec8ecdb396bc61053a3a147bbf981cb97cee, name DEVVOTE, symbol VVE, decimals 0.
5. Your tokens are transfered to your wallet.
The prefunding
ends on Saturday 9 September 2017 14:00 GMT.
The maximum amount of DevvoteTokens to be sold is
250000 tokens.
All ranks are
final. Decide well before investing what rank you want.
