Funded [EXCHANGE-COMMITTEE-003] Committee Funding

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#1
The Factom Exchange Committee seeks FCT from the grant pool to pay for its general funding requirements including any fees required for Factoids to be listed on various exchanges, to cover legal expenses pertaining to such listings and its G Suite email service.

For full details see the attached grant. We will be happy to answer any questions once the discussion period opens.

As required by document 153 that governs Factom grant round 2019-01: This is the thread for grant proposal FACTOM-GRANT-[ENTITY-NAME]-00x.

The review process starts at 2019-01-31 00:00, so please refrain from starting public review or questions before that time. If you notice clear errors in the proposal you can contact the author of the grant proposal directly.

EDIT 2019-02-01: The grant has been reduced to 5k FCT per the community's request.
 

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#2
Thank you for your proposal.

This is a generic question I ask in each grant thread.
This is currently the 3rd grant round. I consider that one of the very important criterion to select a grant (apart from its potential value) is the capacity of the grantee to deliver in time what it pledged. Therefore past grants can be used as an indicator.

If you did receive grants in previous rounds, could you please fill the following fields? This would increase transparency and help the standing parties to select grants.

- Have you, or one of your partners, previously received grants : Yes/No. If No, then you can stop here :)
- List of grants received : grant X1 from round Y1, grant X2 from round Y2...
- Status for each grant : grant X1/Still ongoing or Completed, grant X2/....
- Description of the work accomplished so far and Links supporting it : Discord Group/Factomize thread/Github/Reports/...
- Description of the residual work to be completed : XXXXXX

Thank you for your cooperation.
 
Secured
#4
Thank you for your proposal.

This is a generic question I ask in each grant thread.
This is currently the 3rd grant round. I consider that one of the very important criterion to select a grant (apart from its potential value) is the capacity of the grantee to deliver in time what it pledged. Therefore past grants can be used as an indicator.

If you did receive grants in previous rounds, could you please fill the following fields? This would increase transparency and help the standing parties to select grants.

- Have you, or one of your partners, previously received grants : Yes/No. If No, then you can stop here :)
- List of grants received : grant X1 from round Y1, grant X2 from round Y2...
- Status for each grant : grant X1/Still ongoing or Completed, grant X2/....
- Description of the work accomplished so far and Links supporting it : Discord Group/Factomize thread/Github/Reports/...
- Description of the residual work to be completed : XXXXXX

Thank you for your cooperation.
  • The Exchange Committee received two grants at the last round, yes.
  • FACTOM-GRANT-EXCHANGE-COMMITTTEE-001 and ...-002 from Grant Round 2018-02
  • Grant Statuses:
    • Grant 002 was 26 FCT for the G Suite service for three months so is complete in that the funds were used for their allocated purpose
    • Grant 001 was with held from the grant pool to start saving money towards larger listings and to provide us with funding to cover legal fees and any valuable smaller listings we find. Currently we've used 724 FCT out of the 5000 to pay for a listing fee. The remainder of the funds will be paid out this round and will be converted to a stable fiat currency under the stewardship of one of the members of the Exchange Committee to be held until we need to use it.
  • The Exchange Committee reports can be found here. The last report is from November and we are currently going through a leadership reorganization so hopefully we will have an update for the community soon.
  • The Exchange Committee work is ongoing support of existing exchanges and pursuing listings on new exchanges. We hope to be listed on one or two major exchanges this year (e.g. Binance, Coinbase, Kraken) and on several medium size exchanges in regions we don't have good coverage in (e.g. Kucoin, Huobi, etc.).
 
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#5
Does Exchange Committee already have a plan of how to spend this 10,000 + remaining 4,276 FCT within next 3 months?
Or it's an average amount for possible (not confirmed yet) future expenses?
It may not get spent within three months. We are usually at the mercy of exchange timelines which are hard to predict when a listing process will conclude. The idea was to start saving up enough money to be able to pay for some significant listings. Last round we asked and received for 5k FCT but we also received some feedback that our ask was too low so we've increased it this round. However, we will likely revise this proposal down to 5k for this round as it's not crucial to have the 10k immediately and we can continue to save up for larger listings or use the current funds to start the legal opinion process depending on the outcome of the Exchange Committee's strategy approach for this year. That 5k can go a long way on some of these other important grant proposals.
 
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