On November 18, 2018, some Ulord community developers received UT for the first time because of their proposals on the Ulord ecosystem building. This article will give you more details about the Ulord budget system.
Preface
To promote the healthy development of the Ulord ecosystem, Ulord has reserved 10% of the income to the developers of the Ulord ecosystem.
On Ulord Developer Community website (ulorder.one), there is a proposal entry through which community developers can submit their proposals to Ulord. These proposals will be broadcasted to the network through the Ulord public blockchain system and pushed to the Ulord master nodes to vote. When the votes of proposals exceed a threshold (the current setting: ＞20% of the whole number of the Ulord master nodes), the proposal will be passed. This functional module is the Ulord budget system.
This system supports the sustainable development of the Ulord public blockchain and reflects the Ulord philosophy of “embrace all and benefit all”.
Participation
In the Ulord ecosystem, every 17280 blocks generates a super block every month. UT from the superblock will be used as budget. Each block averagely contains 520833 UT.
After 8 years, it will decrease by half every four years.
I. Fund pool mode
In Ulord budget system, each proposer will get UT as reward from the system.
There is a fund pool for developers’ incentive.
There are the two main usages for this fund pool:
a. Facilitate the promotion and building of the Ulord developer community;
b. The incentive source of tasks
Users can claim tasks at Ulord developer website (https://ulorder.one/), as shown below:
Development teams can apply for Ulord tasks and complete them to get UT as rewards.
II. Proposal model
To get budget, community developers can choose the proposal mode. In this mode, developers need to submit their ideas and plans for the Ulord ecosystem building to the Ulord master nodes for review. After the vote, UT will be distributed to the developers whose proposal are passed.
a. Proposal
A standard proposal should cover the following five items:
Proposal name: a tag, less than 20 characters.
Proposal URL: A web page or forum post created by the proposer with detailed proposal information.
Payment: the requested amount of payment.
Payment address: the address to receive the payment.
Payment time: the time of the payment for proposal.
b. Proposal process
There are 7 steps for getting UT by proposal:
1. Preparation
Create a special transaction. This transaction will cost 5 UT to prevent spam proposals.
2. Submit
The proposal is broadcasted to the Ulord network, and the peer nodes can view the proposal after its submission.
3. Vote
Show the proposal to master nodes and get votes through the forum and other media.
4. Budget
After getting enough votes, the proposal will be included in the budget.
5. Final draft
Before the generation of superblock, the final proposal is packaged into a budget.
6. The vote for the budget of the final draft
Master nodes will vote for the budget of the final draft.
7. Payment
Pay for the final draft which passes the budget.
Conclusion:
For community developers, there are two modes to get UT:
1. The reward task mode is mainly led by the early development team. According to the project schedule, some functional modules are given to the developer community, and the developers can get them in a competitive manner and win reward. Considering the threshold of participation, the previous tasks will be relatively simple.
2. The proposal model is led by the developer himself. They can make innovative suggestions and proposals based on his own understanding of the Ulord platform and the future development of blockchain. After the submission, they can get UT after voting and other procedures.
Thank you for your reading. If you want to know more about Ulord budget system and the developer community, you can visit Ulord website (ulord.one) or the Ulord developer website (https://ulorder.one/)
