So I mentioned this on Twitter and got quite a positive response.
Teams who want our funds on SNS can specify targets they will meet in order to unlock tokens for the team. When it has been agreed the target has been met and no short cuts or cheers then tokens are unlocked.
I know the realty of this requires a little extra complication on the practicality of how this works, but this is the process on a daily basis for many many businesses who seek funding from investors and milestone unlocks will be in many investment contracts.I cant see why it should be different here.
Personally like the idea of performance based milestones for the SNS.
This seems like a good direction for the community to explore ideas.
That’s an excellent idea.
This is a great idea, and makes things performance based, which is how start ups should be evaluated.
As someone who works in sales, there is a reason the highest paying jobs have the lowest salary. The $$$ comes from performance. Same with lots of professional athlete contracts.
Once the app can do _______, the developing team will get 5% of the treasury unlocked to them, or something along those lines seems very reasonable.
I honestly think this should be the way forward. I know in theory this should be possible with smart contracts, but I am not a programmer. Feel free to correct me if we just aren’t there yet.
This would encourage projects to put deep thought into their roadmap and expenditure, force them to keep their community updated and prevent cash grabs.
Huge wins all round.
This would be a major improvement. A percentage should be unlocked in the beginning to provide runway. Then a given % of the total milestones could be set within the runway provided by the initial amount unlocked. The remaining % then set after the initial runway scaled up so that future milestones become unlocked as the team successfully accomplishes the outlined goals. Initial estimated runway time could be used as a threshold in such a way that if the team cannot complete at least one milestone within any given time threshold a singular milestone allotment could be returned to the Neurons Fund/Investors as a penalty for failure to accomplish goals within a reasonable amount of time. I feel there needs to be a downside to like the suggested penalty to keep funds from sitting stagnant in a locked pool when they could be getting utilized by successful teams that are meeting their milestone requirements.