Toshi’s Fund gives executive power to it’s donators by locking all donations and rewarding the donor with voting tokens called Toshi’s. Your donation is only available to be spend if you use these tokens to vote on funding proposals made by Toshi’s Fund. The primary focus is on developers projects.
Pledging to this project makes research into such a system possible.
Toshi’s Fund wants to empower donors of non-profit organisations to overturn the boards decisions regarding funding. Utilising coloured coins, Toshi’s Fund proposes a system in which the donor gets 1 Toshi for every bit (100 satoshi) they donate to a Toshi’s Fund. The creation of these voting tokens (Toshi’s) will lock the donation and make it useless. When Toshi’s Fund has a project that is worth funding according to the guidelines of permission-less payments, on-chain scaling and business viability it is proposed to the donors as a candidate for funding. Donors release funds to be used for the project by sending their voting tokens to a designated address.
To make this possible, there needs to be a wallet that is compatible with these tokens if that is necessary. CashPay has pledged to contribute by making their wallet compatible with any solution Toshi’s Fund comes up with. Toshi’s Fund is open for collaboration in any form to achieve the goal of voting tokens powered by Bitcoin Cash.
This proposal is for funding of research in the architecture of a system that would enable empowering donors.
To make this voting system possible, research has to be done into tokenization and viability of such a fund. Pledges are going to be used as followed:
What is the added benefit of Toshi’s Fund compared to directly donating to the project?
Bitcoin and Lighthouse removed the need for a trusted third party, but it doesn’t remove the need for a trusted second party. Trust in strangers without any additional information is economically limited and there will always be a need for a third party that acts as a bridge between two untrusting parties. By donating to Toshi, you’re contributing to incentivizing developers to have 3 priorities: permission-less payments, on-chain scaling and economic viability of their projects. Also, with the voting system you have the power to overturn decisions made by Toshi’s Fund in regards to use of donations.
Why are businesses supporting Toshi’s Fund if not for financial gain?
The goal of Toshi’s Fund is the same as Cryptonize.it and CashPay: increase adoption and make Bitcoin cash again. In the big picture, that is financial gain.
Who is behind Toshi’s Fund?
At time of writing Toshi’s Fund has two public contributors in donations and operations, Cryptonize.it and CashPay Solutions. If the community supports the idea, a board and a panel of advisors of developers, businesses and other community contributors will be assembled.
What type of projects does Toshi’s Fund engage with?
Toshi’s Fund is focused on 3 area’s: permission-less payments, on-chain scaling and economic viability and is a developer fund meant to be used for technological development of products and services built on the Bitcoin Cash ledger. Projects can be both for-profit and non-profit, as long as it fits the focus areas.
Why is Toshi’s Fund using Lighthouse?
Lighthouse is a step in the future of crowdfunding which is decentralized and permission-less.
What happens if a project fails to deliver (on time) or turns out to be a scam?
If a project manages to fool us and you, we lose time and your donation would of not been used for anything good.
What do I have to do to apply for funds / how does the selection process works?
At the moment, you can’t submit proposals because there is no token voting system yet. All donations are being used for the development of such a system and funding of Lighthouse.
Is Toshi’s Fund neutral when it comes to technical / political discussions related to BCH?
No, we believe in on-chain scaling and permission-less payments and will always stand for that.
Does anybody get paid a salary from the money that is donated?
What is Toshi’s Fund trying to achieve?
Toshi’s Fund goal is to fund development of projects powered by Bitcoin Cash to increase usability and adoption.