Since the launch of the WAX Labs worker proposal system on March 11, we’ve been excited to see the number of projects submitted for funding! Below we’ve provided more specific guidelines for how to make your project more likely to be accepted into WAX Labs.
The guidelines are not a formula: adhering to them won’t guarantee that a project is accepted (and likewise, not following them won’t guarantee that a project is rejected). The guidelines are simply to provide candidates with the criteria for what makes a project more likely to be accepted into WAX Labs.
For the benefit of all participants, the WAX Tokens that will be granted must fund projects that have a clear and measurable impact on the WAX ecosystem. For this reason, projects are more likely to be accepted if they are:
- Valuable to the larger WAX community and ecosystem (not simply a profit-generator for the candidate). Not a profit generating business. For example, WAX Labs funds are not available for NFT projects, since these are intended primarily as for-profit business endeavors. Examples of appropriate WAX Labs funded projects would include new tools and services, made freely available to the WAX community including the underlying software code, that streamline application development on the WAX blockchain or that enhance NFT creation and trading functionality.
- Requesting a reasonable number of WAX Tokens. In general, the more tokens that are requested to fund a project, the higher the scrutiny of the project.
- Within the limits of the number of tokens that will be granted per project. You can request up to $100,000 worth of WAX Tokens for your project, or 0.5% of the entire pool, whichever amount is lower at the time of submission. If you have a bigger project in mind, great! We recommend first submitting a smaller, lower cost MVP (minimum viable product) version of your project, to prove that the market and its participants want your larger-scale version of the project. Doing so will increase the likelihood that your large-scale project will be accepted (if the MVP version is a success). Large-scale projects with no previous case study will be subject to a higher degree of scrutiny.
- Adhering to an incremental utility standard. This includes consideration of: - How much new functionality will the project add to the ecosystem, versus improving existing functionality?
- - How much new and valuable content will the project bring to the ecosystem?
- - How much will the project enhance existing, highly-used features in a meaningful way?
- - How much will the project enhance WAX tokenomics?
- Measurably useful and/or valuable. Each phase of the project completion must prove utility and community adoption. Projects that have clearly defined goals that can be measured objectively, and after each milestone, are more likely to be accepted.
These guidelines are suggestions to help candidates submit projects that are more likely to be accepted into the WAX Labs worker proposal system. Adhering to none, all, or any of the above guidelines is not a guarantee of acceptance or rejection; they are intended to provide clarity into what factors are considered when the Reviewers accept or reject a project. We look forward to seeing your project submissions, if you have any questions, please join our communities: