Introducing UpScale Software Package
What is UpScale?
UpScale is a DAO with a mission to increase the value of the EOS community, by directing its human and financial capital, seeking out and incubating potential value generators, and leveraging its assets to support this endeavour.
Introducing the UpScale Software Package
UpScale DAO’s Chief Delegates of Term 8 have reached consensus on investing 120k $EOS into solutions building on EOS network. Solutions that receive the investment will form the UpScale Software Package (USP).
What solutions UpScale is looking to invest in?
UpScale is primarily looking for pre-seed/seed stage solutions that:
a) offer services to DAOs,
b) have a clear on-chain business model (on-chain meaning the revenue is generated within the smart contract).
What does UpScale expect in return for the investment?
UpScale’s objective is to receive a return on the investment. There are multiple ways how solutions can offer a piece of the value they generate.
For example, UpScale could be offered:
1. Solutions’ tokens which are linked to the value generation.
2. Percentage from the revenue that the solution generates on-chain
(eg. DEX swap fees).
3. Co-ownership of the solution’s smart contract.
How to apply to become part of UpScale Software Package?
Solutions can be submitted here. UpScale accepts applications for 3 weeks starting on 2023–12–11 until 2024–01–14 at 1pm UTC. If you have a roadmap (milestones) that you need to achieve in order to create a minimum viable product, please provide a link to a document containing it in the description field of the submission form.
7/10 current UpScale DAO Chief Delegates will have to approve a multisig with your solution for it to be selected into the USP. In case of approval you will be notified via e-mail provided in the submission form.
How much funding will be available for your solution once it is approved?
The funding allocation for your solution will be determined by an on-chain voting done by UpScale members.
Recently active UpScale members (those who participated in three out of four last elections) will receive voting rights. Each eligible member will get three voting credits. Each member can divide his credits between three solutions or give all three credits to one solution. 120k $EOS will be distributed between the solutions in proportion to the voting credits received.
Example with three solutions in USP:
Solution A — receives 20 credits — 24k $EOS allocated
Solution B — receives 50 credits — 60k $EOS allocated
Solution C — receives 30 credits — 36k $EOS allocated
How can you receive allocated $EOS that has been allocated to your solution?
If your solution received voting credits from UpScale members, an EOS account will be created for your solution. Allocated $EOS will be transferred to that account. The account would be controlled by UpScale DAO’s Chief Delegates but $EOS transferred to it will be reserved for your solution.
Each solution that is part of the USP will have a Chief Delegate assigned who is responsible for further communication between the solution and the UpScale DAO. To unlock the allocated amount the solution owner would have to agree with UpScale on the milestones to be delivered. Upon completion of the milestones the reserved funds are released to the solution owner.
Example of the milestones:
1. Front-end/back-end/smart contract development.
2. Transfer of tokens to UpScale DAO.
3. Addition of UpScale DAO’s Chief Delegates into the permission system of the solution’s smart contract.
If you have any further questions please reach out to us through our Telegram channel “UpScale Software Package”.
