A proposal is a Smart contract by which anyone can ask BiblePay for money needed for a certain project. For example, if I’m part of a charity that aligns with the values of BiblePay, I could submit a proposal explaining the community what I would like to achieve and how much money that would take.
Once per month a voting takes place on all the proposals that have been submitted. This voting takes place via a Decentralized Autonomous Organization (DAO) that is made up of our Sanctuaries. The proposals that pass will receive BBP automatically and directly via a smartcontract. There is no third-party involved in the distribution of money.
Anyone can submit a Proposal requesting BiblePay coins for anything! Not only charities can request funds. You could request funds for an improvement to our website, a guide you have written, a program you have coded, a PR-opportunity, or anything else you can think of! You can see the proposals that people have submitted in the past here.
If you’d like to request funds, perhaps it’s best to first open a topic on forum.biblepay.org in the ‘production proposals’ section. In your topic you can explain what you want to do and how much funds you need. Community-members can provide feedback if needed.
After that, you can add a proposal right from your wallet!
First, if you have a password-protected wallet, you need to make sure that your wallet is unlocked. To unlock your wallet, navigate to ‘Settings > Unlock Wallet” and enter your passphrase.
If your wallet is unlocked, just click the ‘Proposal Add’ button and fill the the following fields:
- Proposal Name: The name you want to give your proposal.
- Proposal Amount: The amount of BBP you are requesting.
- Discussion URL: The forum.biblepay.org link to your topic.
- Funding Receiving Address: The BBP-address you would like to receive the funds on.
- Expense Type: The budget-catagory that best suits your request (charity, PR, P2P, IT).
Submitting a proposal costs 2500 BBP (you can add the 2500 BBP to your proposal if you want. That way you get it back if your proposal gets approved).