This proposal involves creating a fund for the purpose of adding new blockchains to ShapeShift
The Network Effect states that the value of a network is proportional to the square of its number of components. For example, Facebook has over a billion users. 1 billion^2 = 10^18, which is a LOT of possible connections. This is a big part of why FaceBook has so much dominance in the industry.
For ShapeShift, this manifests in the number of blockchains we have on our platform. Each blockchain we add gives us more of a network effect than the one before it. Therefore, we should add as many blockchains (that provide value to our users) as we can to the ShapeShift platform.
Currently, the way to add blockchains is to go through the proposal process, which takes a lot of time and energy that could be better used elsewhere. Because our code is now open source, it is no longer necessary for us to add blockchains ourselves. One of the most famous books in personal finance is Rich Dad Poor Dad, and its main idea is this: “The poor trade time for money, the rich use money to buy other people’s time”.
It is far more effective for us to pay developers to add their blockchains to ShapeShift, than it is to spend the time to do it ourselves. Therefore, I advocate creating a fund for the explicit purpose of rewarding blockchain developers for adding their platforms to ours. This will streamline the process and save us a lot of time and money in the long run.
In addition to the fund previously described, this proposal involves the following:
Providing resources that show developers the basics of what it takes to add their blockchain to ShapeShift.
Creating bounties so that their community provides testing, bugfixes, and long term support.
Creating bounties for the front end work it will take to display the new blockchains properly. (We probably want to do this work ourselves)
This proposal will make it far easier to add new blockchains, which will greatly strengthen the network effect ShapeShift has, leading to increased profits over time.
The easier it is to add new blockchains, the more management it will take to make sure that only blockchains that provide high value are added, while also making sure contributors are rewarded sufficiently.
For: A fund is created to pay those who add new blockchains to ShapeShift.
Against: nothing changes.