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Proposal Name : Funding a centralized wallet (@dao.reserve) from STEEM DAO (@steem.dao) to cover the costs of developing Steemit

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Proposal Duration : 10 Years

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A brief description of the Proposal :

Currently, the Steemit platform is in a very fragile state. Due to lack of development, it is no longer attracting users. In this situation, new Dapps, blockchain games, DeFi projects need to be brought to this platform. Otherwise we will fall behind in the competition with Hive.

The Benefits of Developing DeFi, Blockchain Gaming, and dApps for the Steemit Ecosystem:

The Steemit ecosystem thrives on innovation, community engagement, and blockchain-powered rewards. The development of DeFi (Decentralized Finance), blockchain gaming, and decentralized applications (dApps) can significantly enhance the platform’s usability, attract new users, and boost the value of STEEM tokens.

1. DeFi: Expanding Financial Opportunities
DeFi applications on the Steem blockchain can introduce staking, lending, borrowing, and yield farming, enabling users to earn passive income without relying on centralized financial systems. By integrating DeFi protocols, Steemit users can monetize their content more effectively, increasing demand for STEEM tokens and boosting liquidity.

2. Blockchain Gaming: Driving User Engagement
Blockchain-based games built on Steem can enhance user interaction by providing play-to-earn (P2E) mechanisms where gamers earn STEEM tokens or in-game assets. This will attract gamers and developers, increasing blockchain activity and encouraging long-term token holding, positively impacting STEEM’s price.

3. dApps: Expanding the Use Cases of Steemit
Decentralized applications (dApps) can diversify Steemit’s functionalities, supporting NFT marketplaces, content monetization tools, and social dApps. These dApps will drive more transactions and demand for STEEM, reinforcing its ecosystem and making it a more competitive blockchain.

Positive Impact on STEEM Price:

Increased adoption of DeFi, gaming, and dApps will create higher demand for STEEM tokens.
More users and developers engaging with the ecosystem will drive higher transaction volumes.
Token utility expansion beyond content rewards will reduce market sell pressure, stabilizing and increasing STEEM’s value.
New revenue streams from these innovations can attract investors and strategic partnerships.

Developing DeFi solutions, blockchain games, and dApps on Steemit will enhance user engagement, expand the ecosystem, and ultimately drive up the value of STEEM tokens. By leveraging blockchain technology for financial and entertainment solutions, Steemit can become a more dynamic and profitable platform for both users and investors.

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Now, we already have a nice system on Steemit to cover the funds needed to develop the Steemit platform. This is STEEM DAO (@steem.dao). SBD is deposited in this account every day at a certain rate. Anyone can take funds from this fund for the development of Steem. But since it is a Decentralized Autonomous Organization, it is possible to get a certain amount of funds from STEEM DAO only if a large part of the Steemit community supports it.

And this is determined by the steemit proposal system. If a steemit developer wants to receive funds from STEEM DAO to carry out his development, he must first create a proposal. And only if that proposal receives a certain amount of support, that is, one that receives more votes than the Return Proposal, then the proposal considered valid for funding from the Steem DAO.

But, there is a problem here. The problem is the Return Proposal. The return proposal plays a very important role in preventing abuse of STEEM DAO funds. The Return Proposal is a proposal whose function is to stop funding all proposals below its rank and return all SBD back to STEEM DAO.

It is possible to pass a steemit proposal if its rank can be kept above the return proposal. And for that, it needs enough votes so that the return proposal can be beaten. Only then the funding for your proposal will be possible.

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The Problem:

It is practically impossible to pass any proposal on Steemit at this time. Because, the return proposal has received a lot of votes. The total votes received by the Return proposal created by @gtg are 48.39M. This is much more than the total votes of the maximum general users and top witnesses in Steemit. Therefore, it will be difficult to pass any new proposal at this time.

See : https://steemitwallet.com/proposals

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The Solution:

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To mitigate the above problem there are two options in our hand -

1. Finding steemit whales and convincing them. Along with this, uniting all the witnesses. The next step is to convince all the community admins of steemit and present the importance of Steemit's proposal to ordinary bloggers.

2. Open a separate account and keep that account as a reserve for DAO Funding. Pass only one proposal by any means and deposit the DAO funds in that reserve account. Then, if it is not possible to pass any further proposal, then get that proposal can be funded from that reserve fund. Also, if whales donate regularly to the DAO reserve fund, a fund will continue to grow, which will make it possible to fund any small proposals later.

Diagram 1: Flowchart of DAO FUND

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Rules apply:

Some rules can be applied to determine which proposals will be selected for funding from the DAO Reserve Fund -

1. Proposal must be created by a reputed & well known steemit developer or, contributor. 60 or above reputation is needed.
2. The proposal requires upvotes from at least 16 of the first 30 witnesses.
3. The multisig wallet of DAO Reserve must need at least 6 out of 10 signatures of top 10 vote share-holders to move funds.
4. A steemit proposal must exceed the New Return Proposal to be considered valid.
5. The daily fund requirement cannot be too high. The daily maximum limit is 100 SBD.
6. No funds in the "DAO Reserve Fund" are transferable to any other account under any circumstances, except to "Proposal Funding".
7. Under no circumstances may SBD be loaned or STEEM be delegated to anyone from the DAO Reserve Fund.

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Security of STEEM DAO Reserve Fund:

At the moment, the Steem DAO Reserve Fund wallet is not multisig. However, for security reasons, I propose to make the wallet multisig. At the same time, the wallet should be kept under constant surveillance and audited regularly. The recovery account of the wallet also needs to be set to a reputed user of Steemit.

If anyone has any questions, ideas, suggestions, or complaints, please comment below this post.

Thanks to all!
Make Steemit great again :)

N.B. Budget : 300 SBD daily ୭🌱♡-⋆｡˚🍄-𓄹-˚