Summary of the Community Funding Board March meeting
Welcome to the first Nimiq Community Funding Board update since our community elections! This month's discussions are focused on two projects submitted by our community so let's get started.
Our first proposal to discuss was MetaNIM, a browser extension that uses an API from a non-custodial third party exchange to create a swap from NIM to other coins accepted by merchants in stores. This way you can pay in with NIM everywhere, the extension will take care of the automatic conversion.
Several points were discussed. From Team Nimiq’s perspective, there is strong interest in not needing browser extensions, that is why there are none currently in the Nimiq ecosystem. This is because they introduce a new attack vector — we have seen several cases of browser plugin providers introducing malware recently. Also, you can't use them on mobile phones. However, at this time, a browser integration could be useful so we are open to consider it. We believe the project is a step in the right direction for Nimiq and that given time and support, it can become a great addition to the ecosystem. Additionally, the amount of funds being requested is also very reasonable.
The board has decided to accept this proposal while at the same time asking for the project to be divided into milestones, which upon being met will unlock further funding. This is done with the intention of spending the funds optimally and in accordance to real progress being made.
This project proposes a form of a geocaching game using physical airdrops and street art to spread Nimiq in France and worldwide, allowing people to know Nimiq, its uses, and simplicity.
The project struck us as engaging and interactive, and most of all, a good follow up to the recent visibility experienced by Nimiq. But we do have some concerns. The proposed budget of 10’000’000 NIM seems disproportional, we believe that server costs can be drastically reduced without reducing the potential of the project. Another concern of the board has to do with the target audience, which can be improved upon. Additionally, targeting public areas for street art could be breaking the law, which is something Nimiq cannot support.
We have decided to request modifications for this proposal. We can provide mentorship for the program and help create a more suitable proposal, which will have to include changes in budget, scope and applicability.
The moment you were all waiting for, the most Valuable Nimion Award! For this month we have 2 winners!
Vasconcelos has been donating NIM in recent live streams of crypto influencers on YouTube and this has boosted the visibility of Nimiq. We want to reward him with 10’000 NIM.
We are very excited about the recent NIMcubator efforts which have helped community members to create more proposals. We cannot wait for the next meeting to discuss all the new proposals that you will deliver this month.
Until the next one,
Nimiq Community Funding Board
DISCLAIMER: None of the statements must be viewed as an endorsement or recommendation for Nimiq, any cryptocurrency, or investment product. Neither the information, nor any opinion contained herein constitutes a solicitation or offer by the creators or participants to buy or sell any securities or other financial instruments or provide any investment advice or service.
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