A Proposal to Reallocate 8% of Weekly Emissions to Our Community Fund, the CCF

Following the successful approval of our new emission model, we are excited to present another proposal aimed at benefiting both the immediate and long-term future of the Qubic ecosystem. The CCF (Computor Controlled Fund) has enabled many achievements - now, to drive even greater impact, we're proposing to reallocate 8% of weekly emissions to the fund.

In this blog post we will take a closer look at the CCF, exploring why it was created and some of the challenges we face. We will also discuss how we plan to use the CCF to ensure Qubic's financial health and our strategy to achieve this.

A Quick Recap: What is the CCF?

The CCF (Computor Controlled Fund) is Qubic’s financial runway and the treasury which funds our activities. 

The computors control this fund, which was initially filled in the early days of Qubic with approximately 1.18 trillion QUBIC. It currently holds around 770 billion QUBIC, though 250 billion of this amount should be subtracted, as it has been reserved for market maker funds, most of which have already been spent.

The CCF will be one of the first initiatives to take advantage of the new protocol extension, promoting innovation and sustainability within the Qubic ecosystem. 

We aim to sustainably fund the CCF by reallocating a percentage of the weekly emissions directly to it. These emissions will enable the CCF to continue to support growing initiatives within our ecosystem, while building a treasury that extends our financial runway.

How is the CCF Utilised and What Do We Want to Achieve?

We propose using the CCF to help develop the best AI infrastructure for builders, attracting the most talented developers and builders to our ecosystem, while ensuring the long-term financial health of Qubic. 

Here’s how the allocated funds from the CCF have been, or will be, deployed across the following six key areas:

Marketing

The CCF will be used to increase our brand presence and establish Qubic as the premier AI blockchain project. 

We’ve partnered with one of the leading Communications / PR agencies in the world to implement a winning communication strategy. This partnership will connect us with influential journalists and media outlets, both within and beyond the crypto space. 

Additionally, we’ll use CCF funds to run educational marketing campaigns aimed at making Qubic more accessible to new holders, partners, institutions, and miners.

Development

Our tech team, consisting of 14 skilled professionals including developers, project managers, and designers, drive Qubic’s innovation. They’ve been responsible for building the core tech, as well as an integration layer for third parties, and have developed front end solutions for our users. 

CCF funds are essential for completing our tech roadmap, paying for infrastructure and tooling, and for recruiting top talent.

Ecosystem

We use the CCF to fuel the growth of our ecosystem through grants, hackathons, partnerships with both crypto and traditional sectors, and exchange listings. 

If 25% of CCF funds are allocated to the Grants Program, this would amount to 80 billion QUBIC or $160,000 per month (at $2,000 per billion QUBIC), totaling approximately $2 million annually. There is also potential for growth depending on any increase in the price of QUBIC. We see the Grants Program as instrumental to the success of a fast-growing ecosystem as it aims to support the development of high-quality smart contracts and solutions.

Community 

Creating an active and engaged community is essential for Qubic’s success. We use CCF funds to cultivate an engaging community across our social channels through games, campaigns, and written content. 

As a community-driven project, we encourage everyone to share their ideas. Have an idea? No problem! Simply ask the computors for funding. Every community member has the opportunity to pitch their idea and potentially secure funding.

Operations

We use CCF funds to strengthen our organisational structure, covering salaries for our 31 full-time and part-time employees and advisors 

With around 50 team members in total currently working on Qubic, the fund also supports legal expenses and other operational costs, ensuring our team can continue innovating without financial constraints.

Additionally, the CCF helps us attract top talent and retain our best employees.

Reserves

To secure Qubic’s future, the CCF will also act as a long-term reserve, providing at least a three-year runway. This reserve is crucial for funding the development of Qubic, especially as we navigate potential market downturns, such as bear markets.

For a full list of specific CCF payouts check out the Qubic CCF Account spreadsheet. This is a working document that is regularly updated and publicly accessible, ensuring transparency.

Our Proposal

We’re excited to share our proposal to reallocate 8% of weekly emissions to the CCF. This fund is crucial for ensuring our continued growth and innovation. 

What Does This Mean?

We’re asking miners and computors to support this 8% reallocation. By redirecting a percentage of the emissions, we can better support projects and initiatives that will help Qubic thrive. It’s about investing in the long-term success of our ecosystem..

Flexibility for the Future

Market conditions change, and accordingly, so does the value of emissions. Our proposal therefore includes the possibility of adjusting this percentage. If price rises significantly, the 8% could be reduced to ensure that everyone’s contributions remain fair and sustainable.

Next Steps

As we move forward with this proposal, it is important to note that it is set to be approved by September 4th. To give the community time to review and discuss, we will share the official proposal one week prior to the approval date. This will provide enough time for computers to fully understand the implications and benefits of the proposal before making their decision.

During the current pre-proposal phase, we welcome input from the community. Please share your feedback and join the discussion in the “computor-proposals” channel in our Discord. If you’re a miner, computor, or other community member interested in the details, we encourage you to get involved. **

What Is The Timeline For The CCF?

The integration efforts for this change are progressing in tandem with the implementation of the Protocol Extension. Key milestones include:

• August 26th: Testing of smart contract

• September 4th: Smart contract proposal

• September 11th: Smart contract IPO

• September 18th: Launch

• September 25th: First emissions to be received by CCF

Summing Up

Our proposal to allocate 8% of weekly emissions to the CCF is vital for sustaining Qubic’s growth and long-term success. This move supports development, marketing, and community, while ensuring a strong financial foundation. 

We invite all community members to engage with this proposal, provide feedback, and participate in the discussion in our Discord. 

Together, we can shape the future of Qubic.

** Update: 15.08.2024

In the first version of this blog post it was incorrectly expressed that if the community wished to provide feedback on the proposal they were to contact JOETOM. This is incorrect as @JOETOM is not the individual responsible for obtaining pre-proposal feedback. The intent behind the message was to remind the community that the SteCo is always open to feedback and channels have been created for said purposes. We apologize for any misconceptions and / or issues this may have caused. This post has now been edited to convey the correct information.