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Community Wallet - Funding Sources, Uses, and ETA

Table of Contents

Last Revision: Oct 15, 2021

Article Status: Released

Funding Sources

The community wallet will be funded via the following sources:

  1. Sipher NEKO Dutch Auction Sales:
  2. Apart from the other benefits discussed in

    , the format provides us with the potential to raise additional funds that would otherwise go to Ethereum miners. As such, for any NFT that sells above 0.1 ETH during the Dutch Auction, the Sipher Team has committed to transfer a quarter of those excess funds to seed the community wallet.

  3. Sipher Team → The Sipher Team will continually monitor the Community Wallet funds and add funds into the Community Wallet from the Sipher Treasury, as and when needed, in order to ensure that quality community projects can adequately executed upon.

  1. Funds obtained via community initiatives or projects → After the initial Community Wallet funding, there are additional opportunities to earn revenue that can be further reinvested into the community funds. For instance, if a project or initiative raises funds or creates a revenue source, the profits or funds earned could be added back into the Community Wallet in order to continue funding more projects or initiatives. The revenue sharing aspect would be agreed-upon between the Builders, Financiers or Council, depending on the type of agreement and/or project team composition.
  2. Financier HQ Member Donations Financiers could potentially donate directly to the Community Wallet and specify whether they want it to be used for a certain project or for any project.

What are Some of the Potential Uses of Community Wallet Funds?

  1. Funding community-led initiatives or projects that benefit the community. These initiatives or projects could be anything as long as it is aligned with Sipher's vision and mission, and as long as the community votes in favor! Some examples of projects or initiatives could include, but not limited to:
    1. Development of gaming or NFT related tools that assist the community
    2. Implementing additional uses for the Sipher NFTs such as mini-games, meet-up hubs in other existing metaverses, or creating or bridging avatars to be used in other existing metaverses.
    3. Creation of animated series or music videos by the community
    4. Digital or real-life derivatives of Sipher NFTs. This could include paintings, framed pictures, merchandise (dependent on revenue-sharing agreements), etc.
  2. Fund Sipher Community Activities. With the help of our community members across the world, many virtual or real-life activities could be possible.
    1. Some examples of these activities include, but not limited to:

    2. Real-life Meet-ups. Funds could be used to help host events or meet-ups across the world where community members can spend time together in person, or even potentially meet some of the official Sipher Team members!
    3. Volunteering events and charities. For instance, funds could be provided to assist charities, or members could volunteer and help existing non-profits, perform environment cleaning, or even start a community-driven non-profit initiative.
    4. Sipher In-game Tournaments, Discord/Twitter Contests, Treasure Hunts, and even exclusive Cipher-for-Siphers quests.
    5. Hosting game tournaments where winners could earn prizes by playing other (Non-Sipher) games!

When will this Community Wallet be created and funded?

We will create and fund the Community Wallet as soon as possible, after the Sipher NEKO Launch that takes place on Nov 7, 2021.