Sponsorship in the Bitcoin Cash Ecosystem
Sponsorship is a win-win-win for the Bitcoin Cash ecosystem. As a counterpart to collaborative project funding, sponsorship supports ongoing work, boosts your investment in the network, and boosts awareness of you as a business or investor. If you are ready to jump in, read.cash makes sponsorship easy for everyone involved.
The network started by Satoshi and continued by Bitcoin Cash is naturally a bootstrap project. There is no precedent for traditional investors to compare to. Volatility is high and attractive to speculators who may be in one moment and out the next. The foundational value comes from people who believe in the game-changing nature of p2p electronic cash, and as Justin Bons put it, Invest in utility. That investment comes in forms such as adoption projects, business investment, collaborative funding, humanitarian projects, infrastructure, marketing, online commerce, open source protocols, products, social capital, and many more. We must add sponsorship to the list.
Like General Protocols, some projects are businesses with sustainability built into their structure. However many projects, even critical ones, are run by volunteers. As much as those volunteers believe in the future of Bitcoin Cash, it is still hard to dedicate a significant part of their time and resources.
One way to invest in the success of those efforts is collaborative funding such as Flipstarter. It aims at larger scale projects with big goals that are difficult for any single investor or business to support. In addition to strengthening the network and their Bitcoin Cash investments, pledgers can earn reputation by supporting the best projects.
Sponsorship gives us another investment tool. The simplest mechanism is well known - a project gets support and the sponsor gets awareness, for example through a logo on the project's website and/or code repository. The support can be in the form of money or labor. The arrangement is a good fit for projects that need ongoing support and sponsors that need ongoing awareness.
Businesses are the traditional sponsor and they gain a fourth win - reliability of the infrastructure that they depend on. General Protocols has a policy where we consider two main factors:
How much we rely on the project
How well funded the project is
We then communicate with the projects to find out their needs and objectively split up our budget according to the factors above. Currently, we commit to sponsorship on a monthly basis.
General Protocols has a strong commitment to scale our sponsorships as revenue grows but for now it is a token amount. We believe that the important thing at this point is for the ecosystem to make a commitment and take action to bootstrap us to the next step. We expect both established and new, investors and businesses alike to get involved.
Thank you to these projects that have put in the effort to setup a sponsorship arrangement with General Protocols. In addition to being high utility projects, they are helping to get the ball rolling on sponsorship in the Bitcoin Cash ecosystem:
Electron Cash (in process of adding sponsorship to the site)
Thank you also to Coin Dance's sponsorship system for the inspiration.
Are you an investor or a business in Bitcoin Cash? Please identify the projects that you think are most critical and find a way to sponsor them.
Are you a project in Bitcoin Cash? Please consider the benefits of making yourself available to sponsorship by investors and businesses.
Not sure where to start? Read.cash makes it easy for everyone.
General Protocols Blog
This article forms part of the General Protocols Blog, a collection of cross-platform links showcasing our team's community activity, Bitcoin Cash projects, UTXO development, and general crypto musings.