Complete Decentralization of DeFiChain Beyond Bake

[defichain-labs]

Overview

1. Requester(s): DeFiChain Labs
2. Amount requested in DFI: 8000000 DFI
3. Cycles: 1
4. Receiving address: df1qmckarq6l6x00rslmmvj2wjmsdtlyfs6ymynz5g
5. Reddit discussion thread (optional): https://www.reddit.com/r/defiblockchain/comments/1ew0akx/complete_decentralization_of_defichain_beyond_bake/

Complete Decentralization of DeFiChain Beyond Bake

TL;DR:
This proposal aims to guide DeFiChain through a smooth transition to full decentralization by severing ties with Bake / Cake Group.
To ensure continuity, the proposal seeks funding from the Community Fund to maintain all existing operations, including and not limited to the website, domains, blog, social media, YouTube, and community channels, under the same team that has managed them for the past four years.

The DeFiChain Labs team will operate fully independently and will oversee the transition to a new wrapping provider for dCryptos while serving as the central communications hub between core developers and the community.

Overview
DeFiChain has consistently been at the forefront of decentralized finance, building a vibrant ecosystem driven by active community participation and governance. As we continue to evolve, the need to reinforce our commitment to true decentralization is paramount.
This proposal builds on the momentum of the previously approved CFP and seeks to establish DeFiChain Labs as an independent, community-backed organization. The entity will be partially funded by the blockchain itself, ensuring alignment with DeFiChain’s core principles and long-term vision.

Proposal Details
Funding Requirement: 8,000,000 $DFI from the DeFiChain Community Fund to support one full year of operations.
Market Valuation: At a market price of $0.02 per DFI, this allocation represents approximately $160,000, which is projected to sustain DeFiChain Labs for a full year. This funding will ensure that DeFiChain Labs operates independently, focusing on marketing, growth, community outreach, and strategic partnerships.
Purpose: To ensure DeFiChain Labs operates autonomously, with direct blockchain support, focusing on marketing, community growth, strategic partnerships, and more.

Why This Matters
Transitioning DeFiChain Labs to a fully independent entity is critical for the following reasons:

Operational Continuity: DeFiChain Labs will maintain all existing operations, including the management of the website, domains, blog, social media channels, YouTube, podcast, and community channels. This ensures that DeFiChain's public presence and communication platforms remain consistent, up-to-date, and fully aligned with the community’s goals.

Sustainable Growth: DeFiChain Labs will have the dedicated resources needed to implement strategic marketing and community engagement initiatives, driving the growth of the DeFiChain ecosystem.

Decentralized Governance:
Aligning with DeFiChain’s foundational principle of decentralization, this transition ensures that the core organizational structure is funded and controlled directly by the blockchain and its community.

Focused Expansion: By directing resources towards expanding the ecosystem—through strategic partnerships, marketing efforts, and growth initiatives—DeFiChain Labs will not depend on external donations, securing its autonomy and focus.

Strategic Initiatives

Marketing & Community Growth

Seamless Continuity:
For the broader community, nothing will change in the day-to-day operations of DeFiChain. All channels—whether websites, social media, blog, or podcasts—will continue to operate as they always have. The community can expect the same level of consistency and engagement they have become accustomed to, ensuring that "the lights stay on" without disruption.

Community Building:
We plan targeted campaigns to enhance community participation across DeFiChain’s platforms.
Educational Outreach: A comprehensive documentation hub, official website, and educational content will be developed and maintained to onboard and inform users about the DeFiChain ecosystem.

Events and Digital Engagement:
Regular online and in-person events, such as hackathons and meetups, will be organized to foster engagement, attract new developers, and support the existing community. A strong digital presence will be maintained through various channels to amplify these efforts.

Strategic Partnerships

Token Wrapping:
DeFiChain Labs will lead efforts to transition away from Bake, ensuring seamless liquidity flow into and out of the DeFiChain ecosystem.

Enabling Communications:
DeFiChain Labs will serve as the essential link in all communications between the core developers and the community. By bridging this gap, the team will ensure that updates, feedback, and critical information flow seamlessly between those building the protocol and those using and contributing to it, fostering greater transparency and collaboration within the ecosystem.

Fostering Relationships:
We will strengthen current partnerships and try to establish new collaborations with key players in the Web3 space, including centralized exchanges, bridges, and other blockchain networks. These relationships will be vital in bringing liquidity and new users to DeFiChain.

Scaling Ecosystem Projects:
DeFiChain Labs will create a clear pathway for projects to scale within the ecosystem through the Labs partner program. This includes advisory support, co-marketing opportunities, and potential grants.

Accountability and Community Engagement

To ensure transparency and maintain accountability to the community, DeFiChain Labs will implement the following measures:

Quarterly Community Updates:
Regular updates on progress will be shared, allowing for ongoing community involvement and feedback.

Public Reporting:
Reports on outcomes of marketing and growth initiatives will be published regularly to keep the community informed.

Collaborative Governance: The community will have an active role in guiding DeFiChain Labs, with opportunities to provide input on key initiatives and decisions.

Conclusion
The proposed transition of DeFiChain Labs to a fully independent, blockchain-sponsored entity is a pivotal move in DeFiChain’s evolution. By securing direct funding from the blockchain, DeFiChain Labs will be empowered to focus on driving ecosystem growth and ensuring DeFiChain remains a leader in decentralized finance.

We seek the community’s support to fund this transition, enabling DeFiChain Labs to carry out its mission of advancing DeFiChain, underpinned by the principles of decentralization and community governance.