Stellar Community Fund, the open application for supporting Stellar-based projects, will launch the new program on June 28th. Tyler van der Hoeven published a blog post on Stellar blog and described the details of the program as well as plans for the upcoming rounds.
SCF is an opportunity for teams that need investment for building their projects on Stellar. They can find support from inside of the community, which means more smart investments become possible for them.
Helping Small Teams Achieve More
One of the most active communities in the blockchain world belongs to Stellar. The teams and users in the community try their best to support the new teams. Stellar Development Foundation is very active in launching investment rounds and funds. Besides, there are funds like SCF that help the community vote about new projects and invest in them. The last round of SCF resulted in investing in eight Stellar projects. The next round will launch on June 28th.
Each round of SCF includes feedback and tweak after investing. The last round followed a three-week discussion on Discord, and a new SCF structure is designed for the rest of the year 2021.
Tyler van der Hoeven says about the plans:
“In general, we plan to continue to take a similar approach to future rounds of the SCF — we will gather feedback, try new things, and optimize the process to try to meet the needs of the Stellar community — and we encourage anyone interested to participate in the discussion. We want to make sure we effectively distribute the remaining SCF allocation for 2021, so the process will likely be similar for the next two rounds, but we will pause again and revisit it at the beginning of 2022.“
As mentioned above, the next round of SCF will start on June 28th. It will run through the middle of September. 4M XLM will be distributed in the first round of the upcoming SCF. There are 7M XLm remaining for the SCF. There will be the final round of 2021 SCF that will open for submission in the first week of October. Anyone building on Stellar can apply for the SCF program. Next to the funding opportunity, teams can benefit from feedback and find a community for supporting the upcoming products.
Participating teams can apply for SCF and choose their needed budget for their projects. Community members will vote yes/no for each project + budget. The budget is calculated in USD but will be paid in XLM.