Proposal Details
Proposal #216
Proposal title
Community Funding for Cloudmos Acquisition
Submit time
Deposit end time
Voting start time
Voting end time
Tally result
Proposal #216 description
Title: Community Funding for Cloudmos Acquisition
As covered in our GitHub discussion, Overclock Labs (OCL) is joining forces with the Cloudmos team to co-develop products with the goal of expanding Akash Network. This collaborative acquisition is the result of months of work between both teams to come to an agreement on terms that further our shared goal of developing great open-source products for Akash Network.
Below is a breakdown of the major points covering the 'How' and the 'Why': the big picture.
Acquisition Cost
The total cost of the acquisition is $300,000. OCL will contribute $100,000 to the acquisition to help subsidize the cost so that only $200,000 (of the $300,000 total) is being requested from the Community Pool.
Benefits to the Akash Community
This acquisition will allow us to increase development speed and efficiency, which will result in better products and faster development cycles. All of this will happen through a transparent and open-source process that will ultimately benefit the entire Akash community.
- Overclock Labs (OCL) and Cloudmos are joining forces to co-develop open-source deployment tools for Akash Network.
- Cloudmos Deploy will become fully open-source.
- OCL and Cloudmos will work together closely for a minimum of 6 months to co-develop Akash Console and Cloudmos Deploy.
Time, effort, and use of funds
- The community funding reflects the time and effort that the Cloudmos team will have to go through to fully open-source their entire codebase. They will also co-develop their suite of products alongside Overclock Labs for a minimum of 6 months.
- The funds provided by Overclock are essentially a subsidy to the community pool. Overclock Labs will not retain any private IP from this acquisition. Everything will be open-source.
- Beyond this acquisition funding, Overclock Labs will be compensating the Cloudmos team for a minimum of 6 months of development work to oversee the transition.
The Community Pool
The Community Pool currently holds approximately 1,722,000 AKT valued at $1,230,000 (as of 13:47 Pacific Time). This proposal calls for a sizeable ask of $200,000 or approximately 343,642 AKT (at the 30 day moving average price of $0.582). This is why Proposal #211 was passed, which increases the community tax from 10% to 25%. This proposal will more aggressively refill the pool and ensure it is well-funded for future network initiatives. At today's token price, the changes made by Prop 211 will add approximately $3,600,000 (or $2,400,000 more than previously) to the community pool over the next 12 months.
This collaboration represents a win-win-win scenario for Akash Network's community, Overclock Labs, and Cloudmos. By joining forces, Cloudmos will continue to make it easier and more intuitive to interact with Akash. Together, we will accelerate the development of the world's first operational Supercloud.