Introducing the Strudel Dev Fund and First Payouts

After a turbulent launch weekend, we are back to give an update on the development fund and the team behind this project. To enable the continued development of the Strudel protocol 5.56% (to be precise: 17 / 306) of all minted $TRDL tokens go into the development fund. At the time being these funds go to a timelock contract, controlled by a multisig wallet.

The Strudel protocol Dev Fund

35% of the dev fund are available immediately and will be used for operational costs, such as the relayer, servers, code audit, bug bounties, and the wider community.

15% of the fund will go towards $TRDL ambassadors and individuals that want to support the project on a part-time or full-time basis. Currently, any help around tasks like community management, communications, engineering, or testing is highly welcome.

50% of the development fund is allocated to the founders of the project. The founder share follows a vesting schedule with a cliff, the first payout being three months after the start of the project. Subsequent payouts will amount to a 50% share of rewards collected in the previous month.

First Payout

Until 28.10.2020 the MultiSig collected 27047 $TRDL as part of the dev fund. To reward the contributions of those that developed the project the following distribution is proposed. The payouts will be in the form of g$TRDL, with a locking period of two months.

But before we get to that let’s get to know the people behind those names a bit better to understand the token distribution.

Case

During the busy start of the project, Case was very active moderating the Discord channel and helping out community members. We are very appreciative of the time commitment and efforts.

Role Engineer

Role Engineer uncovered several smart contracts bugs before we went to Mainnet, his critical thinking enabled our launch.

JK

JK wrote the backend service to calculate merkle proofs for transaction inclusion as well as writing a Bot to automate the Block Relay during the downtime of the comparable service operated by tBTC.

MPMatic

MPMatic is a gifted frontend developer and has made great contributions to the Relay Auction page we proposed to the tBTC project.

Max

As one of the founders of the protocol, Max has been instrumental in developing a Corporate Identity of Strudel. From the colors to the logos to launching our Social Media channels, his energy shines through every page. Connecting us with Deora, he enabled the launch of our Governance rollup.

Keno

As the second founder of the project, Keno is responsible for the front-end and consumer-facing aspects of the project. After the launch, he has been spending his nights with our lovely community from the States and connecting with other projects.

Johann

Being the third founder of the project, Johann is responsible for all smart contracts and the backend services of this project. Countless night shifts and weekends were spent on Unit tests, trouble-shooting weird bugs, and overhauling the architecture. He is the mastermind behind the original pegging algorithm and the new system, based on seigniorage shares.