So with weekly QA’s seemily retired, I hope this can be discussed here, especially with Binance starting to delist projects without progress.
With the lead dev behind Sapphire leaving the project, he has (in a very professional manner) shown dissapointment in how the ecosystem fund is handled and not used for the benefit of the network.
If Ecosystem contributors (VCs) essentially have final say/control of any grants, can they also revert the contribution? Is the $220~ mil still available at all?
Has any project recieved ecosystem funding (not the grants that the foundation pays out) in the last 6 months?
Theres so little communication and so much mystique around anything from oasis labs/foundation structure to wallet movements and ecosystem fund, is there no worry from the team that there could be journalists looking into the unused funds?
Thanks for your question. The Oasis Ecosystem Fund is comprised of a group of highly respected investors who work together in a collaborative manner to co-invest in projects that are deployed on the Oasis Network and have gained significant traction while also raising a venture seed round. The process for investing in projects involves a double opt-in system with each ecosystem partner setting a high bar for quality before making a final decision. If at least one ecosystem partner decides to fund a project, the Oasis Foundation will also contribute to the funding round.
Regarding your inquiry about the status of the fund, I can confirm that it is still very much active. It’s important to note that the funding provided by the ecosystem fund is for traditional VC equity/token investing and not for grant awards. It’s also worth mentioning that the ecosystem fund does not have control over the grants program. I hope this answers your questions satisfactorily.
I encourage you to engage with the Oasis Network community and seek information from official sources to gain a clearer understanding of the current state of affairs, or even ask in discord. mods are very helpful and friendly!
If ecosystem funding is purely equity oriented, it makes even less sense that Sapphire was not given its own token. Why would VCs invest in any dApp project, judging by the rugs and dead NFT projects that have been funded in the past on emerald?
Oh well, I guess the VCs will eventually put enough pressure on the FDN to actually deliver a token based paratime, especially with validator rewards ending.