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PROOF Venture Fund

Everything you need to know about the PROOF Venture Fund, why it exists, and how to apply for funding...
PROOF is the safest & easiest way to launch your own crypto token, with zero upfront cost. And, thanks to the formation of the PROOF Venture Fund, there is also capital available to attract teams and accelerate their growth trajectory.
In this article, we’ll unpack what the PROOF Venture Fund is, why it exists, and how to apply for funding.

Why it exists.

The PROOF Venture Fund has a clear mandate:
  1. 1.
    To allocate resources towards projects that launch on the PROOF Platform, with the goal of increasing their trading volume.
  2. 2.
    To fund community-led initiatives that amplify and promote PROOF, with the goal of seeing more tokens launched on the PROOF Platform.
If stewarded well, we’ll see more teams launching on PROOF, with higher trading volumes.

How to get funded.

  1. 1.
    Submit your proposal, here. The PROOF team will review it, and will be in touch to provide feedback.
  2. 2.
    Once your proposal has passed our internal review, we’ll post it on our Snapshot — a third-party governance tool: https://snapshot.org/#/proofventures.eth​
  3. 3.
    Holders of $PROOF will be invited to vote on your proposal (Yes/No/Abstain). Voting is weighted based on the amount of $PROOF they own. They’ll have 7 days to vote.
  4. 4.
    If the majority of votes are “Yes”, then your proposal is a success! 🎉 We’ll be in touch to arrange payment of your requested funding.

FAQs.

How much is in the PROOF Venture Fund right now? The fund is held in ETH. You can check the current balance, here: https://etherscan.io/address/proofventures.eth​
How is the PROOF Venture Fund funded? PROOF has it’s own token, called $PROOF. When $PROOF is traded, 3% of buys and sells is automatically sent to the PROOF Venture Fund.
Who controls the fund? Ultimately, the final decision rests on the holders of the $PROOF token. Their voting power is directly correlated to the amount of $PROOF they own. If the majority vote is “Yes”, then the funding is approved.
Why does PROOF need to review the proposal before it’s put forth to the holders of $PROOF? We do this to keep the quality high, and to help you shape the proposal in a way that sets you up for success. We have plans to build a custom proposal system, but this is our “MVP”. We’ll learn from the process and iterate on it as needed, and of course, we’re always open to your feedback on how we can improve.