July Budget Proposal - Part One

July Budget Proposal (Part One : 30,000 PHR)

This budget proposal will cover the period for the 30 day period beginning with the Superblock in mid July. After this period, a new proposal will be submitted for the Phore community to review and determine which aspects to maintain, revise or reject. The Phore core team is submitting two proposals for approval this period, one to cover the core team activities, and the other for exchange listing costs. The percentages below apply to the amount of this proposal (30,000 PHR).

Development : 50%

The Development team is the heart of Phore. It is essential that our Developers continue towards meeting the roadmap goals, as agreed upon by the community. Developing and maintaining the blockchain is no easy task.
It is proposed that 50% of this budget goes towards the Development of Phore Blockchain. These funds will be used to compensate our current Development team, as well as rewarding community developer contributions and recruiting additional talent to help us achieve and expand our goals.

The development costs of Phore Synapse is included within these funds.

Marketing : 30%

Exposure is key to success within the Cryptosphere. Not only does it create ‘brand recognition’, but it allows for the continual growth of the community which, in turn, leads to more exposure as Phore Blockchain is discussed more on socials…etc.
It is proposed that 30% of this budget goes towards increasing our exposure; ‘Marketing’ Phore Blockchain. These funds will be used to compensate our current Marketing team, as well as allowing us to do things such as create campaigns and giveaways. This will help us to become a bigger player in the space.

These funds will also be used for things such as; press releases, banner/other ads and taking measures to ensure community growth.

Team Members (Other) : 20%

As many of you will know, Phore Blockchain consists of over 30 team members spanning many departments alongside those you see listed above. This includes but is not limited to our; Compliance team, Legal team, Research and Development team, Video Content Producers, Community Assistance team…etc, many of whom contribute a lot of time and effort, and therefore must be compensated.
It is proposed that 20% of this budget goes towards compensating these team members in order to motivate and show gratitude towards their efforts, both in helping make Phore Blockchain in what it is today, and helping shape tomorrow.