What is the ALQO Fund?
If you've been monitoring the crypto space for a while, you've undoubtedly seen the various funding methods that coins and tokens choose to employ, whether it's an ICO, a large premine or a very hefty dev fee (10-20% or above are common practice nowadays).
These methods allow those projects to generate a very large capital reserve in a very short period of time. Furthermore, because the general sentiment within crypto communities all around is that the primary object for exposure and growth is exchange listings, demand for exchange listing has gone up considerably over the past 6 months, with fees often reaching the mid-6 figures. This has created a situation where all projects now compete for exchanges listings equally, but only the very well funded ones can easily afford them.
As ALQO was designed from the bottom up to be a fairly-distributed, community-driven coin, it did not have an ICO, a dev fee, and only had a minimal premine (10 masternodes to ensure the network's initial stability, which will be burned in 1 year). While the ALQO team has budgeted its future moves wisely, accommodating for team growth, development, corporate foundations and partnerships, the reality is that heavy duty marketing and exchange listings require a different scale of funding, one that can only be satisfied by a dedicated fund.
To ensure that we are best able to satisfy the community's needs and achieve our ambitious business and roadmap goals for 2018, such a fund has become a reality. As such, we have decided to create the ALQO Fund project with full transparency and accountability towards the community.
How will the ALQO Fund be funded?
First, we have created public donation addresses in each of the major currencies. This will not only make it easy for the community to donate as they see fit, but each address is fully public and visible - to ensure our transparency and accountability commitment. These are:
Second, the official ALQO Mining Pool has recently had a major update and will now devote 2.5% of all block rewards it secures to the ALQO Fund. This means that you can directly and seamlessly donate to the ALQO Fund by mining using our official pool.
How and what will the ALQO Fund spend its funds on?
Whenever the ALQO Core team uses any of the ALQO Fund's available funds, this page will list the amount, date, recipient and purpose of the spend. As part of our decentralized voting policy, the ALQO Core team will announce its intention to use the funds before any future use, and will only proceed to use the fund if a majority of 51% or above of the community votes support that decision.
Remember - the ALQO Fund is not in any way meant to be used for paying the core team. Funds are and will only ever be used to help grow the ALQO project - not compensate the developers.
The ALQO Core team.