DashBoost has launched the public beta of its micro treasury system, showcasing a thorough second layer to the ecosystem.
The underpinning of Dash’s decentralized autonomous organization (DAO) is its treasury system, whereby 10% of all new coins created are set aside for funding development and various other projects. In order to submit a proposal for funding, a five Dash spam filter fee is required, which presently prices out many smaller projects with an entry fee of nearly $3,000 USD. In order to still allow smaller projects to compete in the space, DashBoost was launched as a “micro treasury” to replicate the current system on a much smaller scale.
Project administrator Pasta believes that the project represents a significant opportunity to enhance the Dash DAO:
“Having the opportunity to work on such a significant piece of infrastructure for the network is truly an honor, and we are super stoked to unlock the value that micro proposals can bring to the network.”
DashBoost reduces the entry fee to one Dash (a number which can be easily reduced if needed), and allows holders of fewer than 1,000 Dash to vote, with one Dash per vote. The main source of funding for DashBoost was planned to be leftover funds from Green Candle escrowed funds, with several other possible avenues for continued funding, including regular treasury proposals. The site includes some advanced features beyond the primary treasury portal Dash Central, including more structured proposal text fields as well as comment moderation.
DashBoost development began before treasury funding was secured
While the DashBoost treasury proposal for funding from the Dash network was submitted and passed by relatively narrow margins, the team nonetheless had faith that the project would pan out. In order to get a head start on developing the site, the team started development when the proposal was submitted, weeks before it had been passed, and nearly a month before the treasury funds had paid out. According to TechSquad, the lead developer of the Irish-based development team, believes the risk of the early start turned out to be the right choice:
“We took the gamble by starting development in the first week of January. Yes, it was a financial risk considering the proposal had just been submitted but the gamble paid off and I’m now very happy to be in a position to present a very strong public beta to the community. We’ve still got some mopping up to do but we have tamed the Dash Daemon and have the back broke in the build.”
As the Dash ecosystem continues to grow, more contractors seek to participate in the treasury system, and larger-budget proposals increasingly take up the spotlight. While some small proposals do still get approved, the ability to capture the divided attention of the masternodes will likely decrease over time, especially for smaller projects. As such, having an alternative for grassroots initiatives as early as possible will ensure that the Dash DAO grows as efficiently as possible.
The Dash DAO matures, adding new elements to maximize efficiency
The Dash DAO has grown significantly in size and scope, with the same monthly budget of around 6,650 Dash representing a much more significant economic engine with a Dash price dozens of times higher than just a few years ago. As such, the system has experienced growing pains, from cutting off smaller contractors due to high valuation to lack of accountability for those who have received treasury funding. DashBoost seeks to address the first issue, with other initiatives springing up to solve others.
To significantly increase accountability in the Dash ecosystem and aid the network in assessing which weak spots remain, Dash Watch was created and funded by treasury proposal. While the project still seeks to fine-tune its offering, it presently undertakes the significant task of following up with every single proposal funded by the Dash treasury, tracking milestones, communicating with contractors, and outlining progress.