RIP-000-005: Launch a Community Ecosystem Fund

Aaaand RIP 005 is now officially passed! :partying_face:

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(Interestingly we had a few blank votes, Iā€™m not sure if that was intentional or by accident, we might have to change the color coding on our SnapShot space to prevent accidental blank votes)

Regarding the implementation of this RIP: it is on its way.

Here is the latest info, which can be found in the RenVM v0.4 launch blog:

RenVM Fee Improvements

This upgrade allows RenVM to store and distribute fees directly within RenVM, instead of hosting and distributing them through Ethereum (and other host chains). For the Darknode operators, this means: ETH gas will not be needed to claim rewards, resulting in a more cost-effective fee claiming system, and greater profits. The upgrade should increase network revenue by approximately 5ā€“10% (depending on gas costs).

This particular feature will take a little bit of time to roll out fully, but we expect the current epoch to be the last that needs ETH to claim fees! This is a long-awaited change, but it is also a big part of and prerequisite for our recent RIP to begin a community-governed fund. Lastly, it has also required the team to begin developing basic smart contract capabilities into RenVM. Although these capabilities are still very much in their infancy, it marks the beginning of smart contracts that are native directly to RenVM itself.

While this is being implemented, feel free to:

  • Help structure the Grants section of the forum (by providing feedback and suggesting edits). Any small changes we want to implement we can be flexible on, anything major that is being requested to changed, especially of a governance or financial matter, has to go through the RFC ā†’ RIP process
  • Discuss RFC 018 (the Fast Lane Grant process) and help push it through the governance process
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