In case you haven’t heard, the eCash Global Network Council (GNC) recently approved a new community fund to reward up to 100M XEC each quarter for those who contribute in a meaningful way to the eCash ecosystem. Contributions can be anything from memes and tweet threads (worth 500K XEC) to eCash related websites, code repositories, and more (up to 25M XEC).
This gives everyone the opportunity to earn XEC by making a positive contribution to the project. Just as anyone can earn XEC by mining the chain, now the community fund offers people another way to prove their work and be rewarded with XEC in return.
This was made possible because unlike other Bitcoin forks (BTC, BCH, BSV, etc.), the eCash network has a self-funding mechanism that allocates 8% of the block reward to pay for protocol and infrastructure development, a small portion of which is paying for this community fund.
By providing an incentive for community members to participate and contribute, I am optimistic that in the coming weeks and months we will see increased activity in the community as people showcase their creativity and talent. As Charlie Munger famously said: “Show me the incentives and I will show you the outcome.”
To participate, all you need to do is create or build something useful and give a shout-out to the eCash community manager (Koush) on Twitter, Telegram, Discord, or Reddit:
Whether you’re an artist, a writer, a developer, or any other kind of builder, this is your chance to take a small step toward making a positive impact. Create original eCash related artwork, start an eCash related YouTube channel, or launch a new website to help promote XEC. There’s no shortage of ideas, but it’s all about the execution.
I believe in the eCash project because I believe in its potential to act as a motor for the world. A motive force that can motivate us, and pull us forward, by giving us a real incentive to want to work.
The fact is it’s already happening before our very eyes. By having the protocol pay for its own development, it’s as if the eCash network has become self aware.
Unlike other projects funded through an ICO, a pre-mine, or venture capital seed round, everything eCash has achieved thus far has been earned by people proving their work. What’s more is that every development that has emerged in order to serve the project’s needs came about not as a result of central planning but through market forces.
What makes eCash beautiful is that it’s an open source project. Anyone can contribute. But even more beautiful is that everyone has a chance to be rewarded for their work by providing value to the network. That’s free market capitalism at its finest.
So start building. Because building something truly valuable doesn’t happen overnight. It can take years of hard work, so the sooner you get started the better.
Details on the eCash Community Fund rewards can be found here.