Continuous Project Funding
The Peercoin Foundation is starting a new initiative with a push toward continuous project funding. Our main goal is fully funding Backpacker, Peercoin’s Core Developer. Since being hired by the foundation two years ago, Backpacker has revolutionized the Peercoin protocol by overseeing 4 major releases, v0.7 (Op_return and fee changes), v0.8 (SegWit Integration), v0.9 (PoS Reward Adjustment), and the upcoming v0.10 (Sync with latest Bitcoin 0.20).
Backpacker requires a yearly salary of €39,000 in order to continue full-time development of the Peercoin network. To achieve this goal, the Peercoin Foundation will utilize Open Collective, which allows community members to subscribe to monthly fiat donations of USD/EUR through credit/debit card, or a one time bank transfer. Other fiat currencies are supported as well. Open Collective is similar to Patreon, except it is designed around ongoing open source projects such as Peercoin, and provides a transparent accounting of donations and expenses.
The Peercoin Foundation currently has enough funds to pay Backpacker until the end of December 2020. Without an additional source of funding however, the foundation would need to start tapping into its peercoin reserves. At the current price of $0.26 cents, these reserves can carry Backpacker’s development activities until the end of 2021, and even longer if that price increases along with the rest of the crypto market.
The purpose of this fundraising campaign with Open Collective is to introduce an additional source of continuous funding to help prevent the foundation from needing to tap into its peercoin reserves, which are better saved for other important purposes once the crypto market rebounds, such as exchange listings, marketing and a bounty program. You can help the foundation retain its Peercoin reserves by becoming a backer of the project on Open Collective today!
The progress featured below may have changed. Check here for updated numbers.
There are a variety of donation options, one time custom donations or recurring (monthly or yearly). All the options are displayed below. The large one time donations correspond to how much development time you can sponsor Backpacker for, starting at 1 month, and going all the way up to 2 years.
One Time or Recurring:
- Donation (Customizable)
- Peer (€10)
- 100 Peers Club (€36)
- Backer (€100)
- Sponsor (€250)
- Peer Pal (€500)
One Time Contributions:
Peer Partner (€3,670)
Dev Time: 1 Month
Dev Time: 3 Months
Dev Time: 6 Months
Sugar Daddy (€44,040)
Dev Time: 1 Year
Master of the Peerverse (€88,070)
Dev Time: 2 Years
100 Peers Club
Funding Backpacker’s full-time development costs will likely be a challenge. To help share the burden, we setup a special donation tier on our collective called “100 Peers Club”. If we can get 100 people to commit to a recurring donation of €36 per month, that will fund the full €39k that is required to maintain full-time Peercoin development. This amount (€36 per month) includes fees from Open Collective and our Fiscal Host, plus payment processing fees.
If you are concerned about the public nature of the donation process and would prefer more privacy, there is an incognito mode, which hides your identity on the public donation list. Just select the option in the following image…
BTC & PPC Donations
Alternatively, we’d also like to remind you that we also support BTC and PPC donations. Only 4 BTC would cover our entire development budget for the next year. The Peercoin Foundation’s BTC and PPC donation addresses are listed below…
BTC Donation Address:
PPC Donation Address:
The Peercoin Foundation has always been transparent about our financials. Previous annual reports can be found here. The new tools provided by Open Collective will bring even more transparency by automating reporting. In addition, we open the foundation up to new possibilities with easier methods of donating and a continuous funding model. If you have any questions, please post in the comments below. If we combine our efforts and share the burden, we can get this accomplished, so let’s get to work!