Cyber Republic Proposals and Grant Disbursement Highlights

After the second annual CR Council election successfully concluded on 10 June 2021, coupled with the addition of several new faces and industry heavyweights to the council, the Elastos community has made it abundantly clear that it is a force to be reckoned with. 

Over the four months since the election, CR has received twenty new CR suggestions and nine of them have transitioned into CR proposals – the voting stage for the CR Council. After conducting rigorous reviews, and following constructive discussions by the Council members, we are delighted to note that five CR proposals were passed by the Council during this period, with a total of 138,598 ELA disbursed to the CR funded proposals during the period 1 July 2021 to 31 October 2021. We have estimated a total budget of 14,840 ELA is to be disbursed to these CR proposals in accordance with their next project milestone payments. 

It is exciting to see increasing interest from the Elastos community over the past few months. Given the current growth rate in our ecosystem, we believe that the existing CR suggestions and proposals system is reasonably efficient in attracting high quality and promising suggestions for ecosystem projects that are congruent with Elastos’ vision and mission.

CR Funded Proposals: July 2021 to October 2021 Key Highlights 

  • Proposal 44: Provide blockchain data services with high availability, high stability, and high security for the Elastos community

Proposal owner: Bocheng Zhang

Category: Ecosystem support and technical development

Total budget requested: 3,291 ELA

Grant disbursed as at 31 Oct 2021: 3,291 ELA

Next project milestone payment: NA

CR proposal details: https://www.cyberrepublic.org/proposals/6066a57fde9a5d0078c0d987

  • Proposal 49: CR Secretariat Work Plan 

Proposal owner: Cassie Zhang

Category: Operations and administrations

Total budget requested: 34,400 ELA

Grant disbursed as at 31 Oct 2021: 8,600 ELA

Unspent grant returned as at 31 Oct 2021: 3,644 ELA

Next project milestone payment:  8,600 ELA

CR proposal details: https://www.cyberrepublic.org/proposals/60e9fc5dc05ef80078d06f01

  • Proposal 50: Elabox Launch Initiative

Proposal owner: John M

Category: Marketing and promotion

Total budget requested: 7,440 ELA

Grant disbursed as at 31 Oct 2021: 6,200 ELA

Next project milestone payment:  1,240 ELA

CR proposal details: https://www.cyberrepublic.org/proposals/60f001a3c05ef80078d0acb2

  • Proposal 55: CR Regions Ltd – 2021-2022 Business Registration

Proposal owner: Clarence Liu

Total budget requested: 300 ELA

CR proposal details: https://www.cyberrepublic.org/proposals/610c411b7f28170078357797

Note: The CR Secretariat transferred 187 ELA for this proposal according to the internal off-chain voting result in the Council group, which used the unspent budget of the CR Secretariat. See details at https://blog.cyberrepublic.org/2021/09/01/cr-monthly-update-august-2021/

  • Proposal 56: Elastos to lead and sponsor Web 3 Conference 2021

Proposal owner: Elastos Sash

Category: Marketing and promotion

Total budget requested: 21,407.84 ELA

Grant disbursed as at 31 Oct 2021: 11,603.92 ELA

Next project milestone payment: 5,000 ELA  

CR proposal details: https://www.cyberrepublic.org/proposals/610c489bd2b36600783dd1ef

  • Proposal 57: From the Orchard team: Asset backed stablecoins coming to Elastos

Proposal owner: Elastos Orchard

Category: Ecosystem support and technical development

Total budget requested: 10,000 ELA

Grant disbursed as at 31 Oct 2021: 10,000 ELA

Next project milestone payment:  NA

CR proposal details: https://www.cyberrepublic.org/proposals/610c489bd2b36600783dd1ef

  • Proposal 60: Improving the accessibility of ESC and bootstrapping liquidity (Revised)

Proposal owner: Ryan, Starfish Labs

Category: Ecosystem support and technical development

Total budget requested: 100,000 ELA

Grant disbursed as at 31 Oct 2021: 100,000 ELA

Next project milestone payment:  NA

CR proposal details: https://www.cyberrepublic.org/proposals/614d02a2408bf1007858a196

Cyber Republic Financial Summary

Key Highlights (1 July 2021 ~ 31 October 2021)

  • Grants disbursed: 138,598 ELA
  • New CR proposals: 9 proposals
  • CR proposals approved: 5 proposals
  • CR proposals rejected: 3 proposals

Below you will find a summary of the financials and grant disbursements made by Cyber Republic during the period from 1 July 2021 to 31 October 2021. Assets held by Cyber Republic as of 31 October 2021 have an estimated market value of USD 5,815,365. 

Cyber Republic Grant Disbursements for the Period from 1 July 2021 to 31 October 2021

* Market value of ELA is determined based on the ELA daily close price at UTC time for each transaction occurred during the period from 1 July 2021 to 31 October 2021 obtained from CoinMarketCap.com
** Refer to CR Funded Proposals: July 2021 to October 2021 Key Highlights’ section
^ Excludes unspent grant refund of 3,644 ELA from CR Secretariat. Please refer to Cyber Republic token flow statements in the section below. 

Cyber Republic Asset Balances as of 31 October 2021

* Market value of ELA is determined based on the ELA closing price on 31 October 2021 at UTC time obtained from CoinMarketCap.com.
^ CR wallet balance can be viewed here

A screenshot of CR wallet as at 31 October 2021 was taken as follows:

Cyber Republic Token Flows for the Period from 1 July 2021 to 31 October 2021 (Denominated in ELA)

1 Refund from CR Secretariat #49 - CR Secretariat Work Plan on 29 October 2021
2 Refund from CR Proposal #45: Travala - Adding Elastos and Co-Marketing on 6 August 2021