The primary purpose of the growth pool in the Elysian ecosystem is to generate active engagement between the Elysian team and the community. There are several companies in the cryptocurrency space that do not emphasize community growth as a vital part of the project. Stagnant communication between a team and its supporters is a concerning issue that ultimately helps contribute to the potential deterioration of certain projects in the market. The integration of the growth pool into the ecosystem provides an effective utility for the token and a healthy, sustainable model for community expansion.
The Elysian Forum
Developing a forum similar to BitcoinTalk gives community members an incentive to become active in the Elysian community. Members will have the ability to post campaigns in the forum for various types of ideas, including but not limited to partnerships, additions to the project to promote company growth, and live networking events.
Token Integration — Community members that introduce ideas on the forum will have the capability of using their own tokens to contribute to the funding of campaigns, or receive tokens from the Elysian company, which are taken out of the growth pool allocation amount of 350 million tokens. There will be a maximum of 50 million tokens released per annum. This promotes creative input from community members for various ideas to improve the Elysian ecosystem. Decisions regarding which projects or partnerships to fund will be decided by a community vote.
Voting Rights — Campaign applications that are posted on the forum will be voted on by members of the Elysian community, to determine if the campaign is eligible for funding. If the project receives a minimum of 51% “yes” votes, and passes the responsible voting requirements, the project will receive funding. Tokens allocated to each successful campaign will be provided either by community members or directly from the growth pool. All tokens that are contributed by members of the Elysian community to campaigns that do not get approved will be refunded. Elysian reserves the right to reject a project if the voting process is not done responsibly by the community, including but not limited to spamming, creation of multiple accounts, or manipulation of community members.
The growth pool is as an effective method of community integration. This allows supporters to provide a wider variety of campaigns. Consequently, the best projects provided will be voted on successfully and will benefit the entire Elysian ecosystem. Community input provides a much larger sample size of campaigns while using collaboration between community members and the team to build a mutually beneficial relationship.