Dash has funded an accountability system for keeping track of previously funded proposals.
Dubbed the Dash Watch, the project aims to create a website for the tracking of past proposals. Rather than acting as a subjective review system, this will include purely objective relevant information such as costs, updates, deliverables, delivery dates, delays, etc. According to project lead Paragon, it was inspired by a lack of communication or delivery by quite a few past proposal owners:
“I was prompted by the lack of follow-up being done with many proposal owners, some of whom hadn’t fulfilled their promises and were no longer communicating publicly with the community. I imagined this would only become a bigger problem as our budget grew, and I thought it’d be better to act proactively to prevent the DAO from being taken advantage of in a more significant way. If Ryan Taylor and other core team members hadn’t encouraged me to follow through on the idea and the community as a whole hadn’t seen the value in this and been so supportive of it, I likely would have abandoned the effort earlier on. So, I definitely appreciate everyone who pushed me to follow through on the concept including you Joel and other Dash Force News writers, it may not have happened otherwise.”
A move for efficiency for an increasingly in-demand treasury
The creation of Dash Watch coincided with both a significant growth in available funding, and in proposals being submitted before the network. With sometimes 40 or more proposals before the network every month, the masternodes have an increasingly daunting task reviewing each and every one before casting their votes, to say nothing of tracking the progress of previously funded proposals. Paragon hopes that Dash Watch will help make relevant information both available and easily accessible to better inform masternode decisions:
“The end goal of the project is to have as much visibility and transparency as possible over the status and progress of proposals. This will eventually include a calendar and timeline of the whole proposal ecosystem and advanced filtering capabilities to analyze all previously approved proposals using any number of different criteria. The ability to manipulate the data will hopefully be educational and help to better inform Dash’s future investment decisions. In addition to the insight to be gleaned from the data, Dash Watch should serve the dual purpose of illuminating all the promising happenings in the proposal ecosystem along with some of the bad and as a result encourage more accountable and responsible behavior on the part of proposal owners.”
According to Paragon, this system will be more inclusive and easier to run by eventually allowing proposal owners themselves to enter some of the data, saving on labor and time required in collecting updates:
“We plan to eventually enable proposal owners to use our system to update the community themselves about the various aspects of their proposal although we will at least perform some perfunctory level of due diligence to ensure the community is not being misled. We’re really excited to be working on something that has never been done before, and we’re looking forward to continuing to receive feedback from the community and substantially innovating the current pre-alpha product.”
The Dash ecosystem is growing at a rapid rate
The ecosystem under the greater Dash network has grown at an exceptional pace this month. In November, the Dash treasury paid out $4 million to projects. These range from the above-mentioned internal accountability project, a comprehensive approach to Dash adoption in Nigeria, a festival and pub-geared contactless payment system, and dozens more.
At present prices, over $5 million is available monthly to fund the ecosystem. This indicates that the network is uniquely poised among other projects to grow at an increasingly rapid pace, especially as the price continues to rise. At a price of $1,000 per Dash, this will amount to over $6.6 million per month in the treasury, enabling further ecosystem growth.