Proposal Details
Proposal #255
Proposal title
Community Funding for Praetor Acquisition
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Deposit end time
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Proposal #255 description
Community Funding for Praetor Acquisition
As covered in our GitHub discussion, Overclock Labs (OCL) is joining forces with the Praetor team to co-develop products with the goal of expanding Akash Network. This collaborative acquisition is the result of weeks of discussions 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 $550,000. $250,000 will go towards the acquisition itself with $300,000 going towards retaining Deval and Jigar as core full-time contributors for 12 months.
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 Praetor are joining forces to co-develop open-source provider onboarding and management tools and services.
- PraetorApp will become fully open-source.
- OCL and Praetor will work together closely for a minimum of 12 months to co-develop Akash Console and PraetorApp.
Time, effort, and use of funds
The community funding reflects the time and effort that the Praetor 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 12 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 Praetor team for a minimum of 12 months of development work to oversee the transition.
The Community Pool
The Community Pool currently holds approximately 3,623,147 AKT valued at $14,927,368. This proposal asks for 78,920.94 AKT (at the 7-day moving average price of $4.646).