I’m here to discuss a key aspect of our project’s funding strategy and gather insights from fellow developers and enthusiasts. We’ve developed a unique token mining and distribution model, but now we are at a stage where additional funding is needed for further development and marketing efforts.
Token Mining and Distribution Model
Our token is distributed via a time-based mining process. Users can participate by signing a mining smart contract for 0.1 ETH, which allows them to earn 0.0000001 tokens per second. This method ensures that the token is distributed in a decentralized manner, while also providing a steady flow of income to support the project’s development, particularly our Layer 2 initiatives.
Why We Need Additional Funding*
While the mining process is self-sustaining, it’s not enough to cover all our project’s needs. Specifically, we require additional funds for marketing and ongoing Layer 2 development. To address this, we plan to sell 20% of the revenue generated from the mining smart contract. This sale will be conducted via a separate smart contract to ensure transparency and efficiency.
The Swap Smart Contract
To facilitate token exchange, we’ve developed a swap smart contract that operates without a traditional liquidity pool. Instead, users send ETH or tokens directly to the contract, depending on whether they are buyers or sellers. This innovative approach reduces reliance on centralized systems and aligns with our broader decentralization goals.
Questions for the Community:
- What do you think about allocating a portion of mining revenue for sale to fund development and marketing?
- Are there alternative fundraising strategies we should consider that align with our decentralized model?
- Has anyone here successfully implemented a similar funding strategy in their projects? What were the outcomes?
Looking forward to your feedback and suggestions!
*This discussion is opened for ideas. Our project's Ethereum Mainnet Token is distributed by smart contract.