In this part, we would like to inform our community on the Transparency Code of Seedify.fund.
While blockchain has inherent elements of transparency, we believe that these features can be made available in better ways for all token holders to be informed about all the assets, resources and resource management through user interfaces dedicated to full transparency.
First of all let's explore the wallets where there will be a flow of resources, so we can explore deeper how our transparency code will operate in each of them;
Fund pool wallet
Staking distribution wallet
Community involvement rewards distribution wallet
Seedify.fund operations wallet
As mentioned previously, the tokens Seedify.fund gets from projects accepted to our program will be distributed among these 4 wallets. In the "Mechanics of the Fund Pool" part of our whitepaper, we explored deeply how these funds in each wallet were going to be used.
Again, in simple terms;
each project that Seedify.fund community selects will get a 75.000$ from this pool, in exchange for 3% of the tokens,
50% -> will be reallocated to funding pool
25% -> will be distributed among stakers
15% -> will be allocated to community involvement rewards of Seedify.fund incubator
and 10% -> will be allocated to Seedify.fund operations.
For the distributions to be permissionless and automatic, we will have a smart contract where these distributions will be automatically done.
In the transparency part of our dashboard, our users will be able to see the inflows and outflows of these transactions, with data pulled from blockchain, and they will be able to click on each transaction Txn hash, to fully confirm this data on the blockchain.
Other than each project's token distributions being shown fully transparently on the UI, we will also have transparency interfaces for the 4 wallets mentioned above. Namely, fund pool, staking, community involvement rewards, and Seedify.fund operations wallets.
Each of these will have a section in the Transparency part of our dashboard, and they will have interfaces that are connected to blockchain explorers. Also for each of these sections we will also have certain features that make this data more user-friendly to consume.
Through this interface, you will be also able to see, how much we spent for;
core team headcosts,
taxes and legal costs,
3rd party tool subscriptions
and all other spendings related to Seedify.fund ecosystem operations and growth.
Blockchain is a great start for transparency, but we believe we can do a lot more on this part, so this Transparency Code, and dashboard sections related to transparency will be in the core of all Seedify.fund operations and dealings.