Every Tuesday the Etho Protocol team is meeting in their headquarters. For technical aspects it was suggested to have a more dedicated session. So the idea of an ETHO Tech meeting was born and we had our first meeting on 28th of May.
The basics: ETHO tech
if you have been following us on the blogs, you know that the recent 5 months have been nothing but a wild ride combined with a downturn spiral. Kudos to a team that has been sticking together against all odds. In May then the tide has turned, new contracts have been established, and bleeding has been stopped.
With the basic foundation in place, the focus shifted to a more use case focused question: what is next for ETHO protocol? Interestingly the team is starting to grow, people with ideas have joined the project and move it into new directions.
Building an ecosystem
In one of the team meetings we discussed that ETHO protocol is the road and that we do not build cars. We see ETHO protocol more as a utility provider.
We provide storage contracts on a blockchain. This opens up the world for NFTs in the widest form. NFTs as art are just the first step. Think of an NFT as a digital achievement, a memorial, a monument, a ticket.
In order to build those things, we want to enable others to join us, come up with ideas, code and launch. To connect to ETHO Protocol we plan to create an ETHO Development Proposal incentive.
The idea is simple: anyone can come up with a proposal that should be focused around developing code, assets, apps, dapps based on ETHO associated with one of the three fund classes. The proposal should render the idea and also define a definition of done. The ETHO council will review weekly any incoming proposal and either grant funds or defer them with an explanation.
If a fund is granted, then 10% is paid immediately, and the remaining 90% is granted at delivery of the solution fulfilling the definition of done. The payment is transferred into a contract which executes 12 month later.
With this proposal, which is currently reviewed and discussed in the community we want to incentivise developers to work with ETHO.
One potential EDP could be to fix the wallets for Android and also IOS. Those wallets should also enable the NFT capability of ETHO.
The first meeting was very inspiring and fruitful, Wallets and uploads will be ramped up. A new proposal to incentivize developers is under review. More will follow. Stay tuned.