Short description
golos.io is a webiste based on the media blockchain resource Golos, which is run on the graphene technology. Just like in steemit, community appreciation is an actual reward by itself, with posts, comments and other participation rewarded in a cryptocurrency token called Golos.
Abstract
The current evaluation of the Golos development fund stands at roughly 2 million USD, and is consisting of Bitcoins and Golos tokens. Both of those funds are a property of cyber•Fund and are controlled exclusively by its board of directors. As of now, the funds are used in a non profit scheme, which makes it suboptimal for the whole ecosystem. 5% of the reserve (which makes for about 30 Bitcoins), was spent from the beginning of the crowdsale, for blockchain development, development of the web application golos.io, and marketing events in order to popularize the system. Carrying on likewise, will eradicate the fund within a period of 2 years. This document describes a more optimized scheme for governing the development funds, and transferring them to a 4-profit development scheme. The offered mechanism, will allow for a quick change to a healthier and a more competitive economy of the Golos blockchain, and its applications. It will also allow for a rise of the total capitalisation of the development fund, instead of driving it to bankruptcy. By those leaving the Golos blockchain development in the hands of fate.