FairFunds

bumbum General Ecosystem

Many of us know that a better world is possible, but too often great ideas, great projects contained in a seed ready to sprout and make a change just stay underground due to lack of resources.

For that reason, in 2017.fair.coop we have created the fair.funds, an ideal space for the seeds to grow, develop and eventually offer its fruit which will nurture back the land that cradled it.

Specifically, these funds consist of a number of faircoins donated to 2017.fair.coop to be handled with a specific objective that may be proposed by the initiators of the fund, provided they are synergistic with the overall objectives of 2017.fair.coop.

Three funds already exist, starting off an initial donation; they will be further sustained with input from all who want to contribute and fund the various projects presented to achieve the proposed objectives.

Each fund has specific objectives that are defined by their council, which manages both the capital distribution and the policies of each fund. All councils are democratically elected and are open to participation.

Furthermore, together with the financial resources and management, through the 2017.fair.coop social network, common ground is created for all that’s needed in order for a project to grow.

Ideas, financing, working groups, clear objectives, infrastructure, discussion, support, energy, life… everything you need to avoid any seeds from getting lost underground before even seeing the light.

Ultimately, fair.funds mean to be a resource redistribution point to allow us, through cooperation, to achieve a more just society and economy, with global wealth accessible to all humankind as commons.

pooled  FUNDS FOR VARIOUS PROJECTS

There are already three funds confirmed in Fair.Coop; they’re under development and have already received a significant % of the money supply of existing faircoins.

When a person or group has a project and wants to receive funding from a fund, they can access the fund group through the social network and present their project to the council, which will then decide whether the project meets the 2017.fair.coop criteria and how many faircoins should be devoted to it.

These funds, despite being described separately and consisting of different councils, are part of the same goal, that of fairCoop, and therefore, for practical purposes, a project may often receive funding from various funds at the same time.

  s_4The Global South fund

It consists of resources devoted to struggle against inequality and to restore global economic justice.

That is, it supports the struggle against impoverishment and misery caused by the predatory capitalist system.

The way to do so is by accompanying the empowerment of communities and cooperatives excluded from access to basic resources or the means to produce open source wealth, ie. production methods that can be shared and replicated.

This fund, due to its characteristics and boundless objectives, will require a specific organizational structure to make it possible, mainly creating support nodes in as many parts of the world as possible, which may deal with linking 2017.fair.coop with collectives in the process of empowerment, enabling their validation (to avoid possible deception and abuse) and thus creating a network of mutual cooperation on a global scale, as settled as possible in the different territories.

Unlike other funds which prioritize projects with the greatest impact, here it will be much more important to benefit as many human beings as possible, and in this regard the acceptance criteria must be very inclusive.

You can make your donations here: fU3wRGZwese65gZqRiQiJvE483iyjY2QD4

02faircoin_EN           03faircoin_EN             01faircoin_EN

See here the movements of this account.

To be in contact related this fund, link this group on the FairNetwork

c  The Commons fund

Intended for strategic projects that generate commons for the benefit of all mankind.

It funds projects that co-produce immaterial goods such as information and knowledge in key areas such as health, energy, food and economic system, and also projects to enhance global scale networking to generate pro-common material.

Promoting free knowledge and merging it with open hardware for empowerment of communities in all dimensions and the creation of commons, is the main objective of this fund.

In addition, it comes to choosing projects which provide resources and values that are not yet in operation or can be improved and strengthened through funding and through participation of the whole community.

You can make your donations here: fMxkQtTCFZpWuZNZQTq7HxwcZ6rQn1yAWj

See here the movements of this account.

To be in contact related this fund, link this group on the FairNetwork

it_1  The Technological Infrastructure fund

The resources of this fund will be allocated to technological, economic or educational IT development projects which enhance the extent and the ease of use of faircoin as currency or as a vehicle for committed savings as well as other exchange, monetary, financial, or payment processing technologies necessary to build the economic system promoted by 2017.fair.coop.

By technologically improving faircoin we will also increase the economic value of this cryptocurrency, which will reverse in all funds and projects that are being financed.

This fund will be strongly linked to the economic branch of the Ecosystem Council, providing funding to the technological part of certain projects which directly enrich 2017.fair.coop such as FairCredit, FairBag, FairMarket or FairSaving.

These are the initial fair-funds released by 2017.fair.coop’s promoter group, however, other funds and councils may arise for financing projects with different specific objectives related to the cooperative.

You can make your donations here: fJ7dwkfHiJW9867xcovaJ9QDN7khDEMJMm

See here the movements of this account.

To be in contact related this fund, link this group on the FairNetwork

Getting involved with the funds

There are several ways to participate in the funds:
1 – One can contribute directly to the funds through donations (LINK).
2 – Investing in faircoins to use as savings. This is an indirect way to cooperate, because it will reduce the amount available for sale on the market, and therefore promote a raise of the currency value and thus redistribute capital in fairfunds.
3 – Participate in the promotion and use of faircoin as the reference cryptocurrency for a fair and solidarity-based economy.

project How to submit a project to a fund

To present a project to a specific fund, you must first familiarize yourself with the dynamics and protocols of the fund’s council and community, which may be different for each fund. To do this you can access the group and read all documents, decisions made, protocols, etc. and how to present your questions and interact with other fund members. Once you understand the operation basics, you will present your project to the council to be hosted on the fund’s specific decision making process.

If your project is accepted, you will be granted the amount of faircoin the council decides but with the condition that this capital remains untouched during a latency period of latency, the time required to solidify both your project and your funding.

You can find more information and detailed steps on participation in 2017.fair.coop projects here.

  newHow to start a new fund

In order to establish a new fund a proposal must be presented to the community and the ecosystem council and a minimum of 500,000 faircoins must be provided, representing approximately 1% of the faircoins in circulation. This amount may change according to price evolution of faircoin.

Each fund that is incorporated into 2017.fair.coop will be provided with a set of resources by the cooperative so they can manage these funds with large doses of participation, knowledge and transparency.

Among others, some of these resources are:
An open, accessible public form to submit projects to be financed by the fund
A board of people experienced in the fund’s topic, which will have the function of being ultimately responsible for the funds allocated in the most efficient way to meet the proposed objectives
Tools that allow all 2017.fair.coop members to be consulted and to vote on priorities, methods or specific projects
Support from those workgroups that are common to all 2017.fair.coop

Methods for managing the funds

As for the fund management method, it is important to maintain as a basic criterion a form of savings that benefits the common. Although funds can be awarded as soon as the working methodology allows it, it is important that faircoins can not be spent –and therefore sold in the money market– until a reasonable time has passed, so we allow the value of faircoin to grow enough to yield optimum performance for these funds so they can actually serve to generate capital for the common good.

Currently we have defined a standard minimum of 1-year savings from the time of acceptance of the project and thus the awarding of the grant. That time would serve to consolidate the group to go ahead with the project, making a participatory plan on how you will spend and what you are going to get through it, so that the previous situation of impoverishment will not return after the contribution (eg if it comes to buying equipment for an agricultural project, it would require a project feasibility plan).

This can change depending on each fund if proposed by the Council and can also be accelerated if the increased value of faircoin permits it.

In any case, it may be very desirable to establish methods for allocating funds in order to benefit from the value appreciation. For example in the case of a commons or faircoin infrastructure fund project, the mechanism could be such that these funds can not start being used until the project is completed or reached a significant level of development, to be arranged at the begining.

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