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ALPHA THREAD - READ!
Bottom Line Up Front: The GalaChain Ecosystem enables a novel funding approach that can make businesses faster, more efficient, and more legally compliant.
Now, explaining how this works!
I had a great call with a developer on GalaChain this morning, and it helped me realize that one of the greatest features of the $GALA #GalaChain Ecosystem is not well understood.
So, I am going to break it down for you, barbarian style.
I am often asked what kind of grants, etc, are available to build on GalaChain.
There are a few fundamental problems with grant programs. The first problem is that when you are given a grant of $TOKEN by someone, it is usually locked...so you can't use it to fund development. If you could, that would be bad, because it would put pressure on the market and piss off everyone involved in that ecosystem.
What most projects end up doing is taking a grant and THEN doing an ICO/raise of some sort. Whether it is the ICO route or the a16z route, they end up either creating a security or giving everything over to VCs.
This, I think everyone can agree, is absolute bullshit.
What we would rather do is enable you to make your own money.
General Note: Things that are just poofed into existence out of thin air or are “premined” and then sold to “investors” are viewed in a distinctly unfavorable light -- this should not be a surprise. However, tokens which are created via active work and involvement in the ecosystem are generally considered to be a less shitty idea (nothing can ever be considered . (I am not a lawyer, please hire your own lawyer and don’t just say “BitBender said…”)
The way forward, in my personal opinion, is a fair launch model where tokens are created based on the work performed by users in support of the decentralized ecosystem. This is the way $GALA was launched, with all $GALA being created based on work performed by the nodes. The same is true with $MUSIC, $SILK, $ETIME, and other tokens in the Gala Ecosystem.
What this means is that a project can come to GalaChain, sell node licenses that support central work functions for that project, and allow the protocol to issue tokens in support of this work. Nodes can do pretty much anything that can be dockerized…whether it is image processing, storage, logistics data handling, AI iteration, running game servers, or any number of other things…the above cases are all things that have already been done on the Gala Node framework, even though most of them are not publicly released use cases.
These node workloads, supporting central business functions, can reduce the costs associated with a startup.
- Replace S3 buckets for some stuff? Sure, why not?
- Run an LLM across your nodes for private business use? Absolutely.
- Store massive amounts of data? Say no more!
So, a quick recap:
Get Grant + ICO/Premine + Sell Tokens = BAD
Node Licenses + Fair Launch + Reduce Expenses = GOOD!
Lots more to come, but I wanted to help people understand what is coming!
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