STELLAR COMMUNITY FUND
Make sure to read through the rules and guidelines prior to submitting your project. What we're looking for is organic, genuine interest and discussion around projects. Foster and encourage that. Be kind and supportive to your fellow competitors.
By making a submission to the SCF you agree to these Official Rules and agree that all decisions related to this round of the SCF are made pursuant to these Official Rules and are final and binding.
1.1 This SCF Round is open to:
(the above are referred to collectively as “Participants”)
1.2 If a Team or Organization is entering this SCF Round, they must appoint and authorize one individual (the “Representative”) to represent, act, and enter a Submission, on their behalf. By entering a Submission on the SCF website on behalf of a Team or Organization you represent and warrant that you are the Representative authorized to act on behalf of your Team or Organization.
1.3 An “Eligible Individual” is defined as a natural person who:
The SCF Round runs over 3 months and involves several distinct phases; (i) submission (ii) panel selection (iii) community discussion (iv) community voting and (v) award distribution. The most current information about the dates, times and deadlines relating to each SCF Round will always be available on the SCF website here https://communityfund.stellar.org/current.
3.1 Submission: To participate in the SCF Round Participants must:
3.2 Panel Selection: A Panel of verified Stellar community members curated by SDF will select a shortlist of semi-finalists to proceed to the final voting round.
3.3 Community Voting: After the community discussion phase, community voting will commence over a period of roughly two weeks. Please refer to the main SCF website for the specific and most current dates and deadlines. Only qualified Stellar community members are invited to vote and members will be asked to rank their votes. For more information see here. https://communityfund.stellar.org/how-to-vote.
4.1 Once community voting is complete, SDF will review the votes and rank the projects in descending order of votes, including referring to the voter ranking if necessary. SDF reserves the right to disregard any votes that it believes, in its reasonable discretion, to have been manipulated or otherwise illegitimate.
4.2 The total pool of XLM available for each SCF Round is stated on the SCF website (https://communityfund.stellar.org/current) (“XLM Pool”). SDF will allocate the XLM equivalent of the specified USD budget of the submissions with the most votes in descending order of rank (“Awards”) until the earlier of (i) the XLM Pool is fully distributed (ii) there is not sufficient XLM remaining in the XLM Pool to fully fund the next ranked submission or (iii) there are no remaining eligible submissions.
4.3 To determine the number of XLM equal to the USD value of any Award for an eligible submission the USD valuation of XLM shall be calculated using the CF Stellar Lumens-Dollar Settlement Price as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR), or, if such settlement price is unavailable the settlement price as reported on a substantially similar and equally reputable cryptocurrency index provider selection by SDF in its reasonable discretion. The USD valuation of XLM for any particular Award shall be calculated using the CF Stellar Lumens-Dollar Settlement Price (or equivalent) reported on the day such Award is scheduled to be distributed.
4.4 SDF is under no obligation to make any Awards if there are no eligible submissions or eligible participants or if participants do not successfully complete the compliance and tax obligations. SDF reserves the right to make an Award substitution, in either kind or amount, including an amount of lesser value than the specified budget, if it deems it necessary. Any XLM not distributed in this SCF Round will roll over to the subsequent SCF Round.
5.1 Participants will be notified if they are eligible for Awards via the email provided in their submission form. In order to be eligible to receive an Award Participants will be required to complete the following two steps in advance of any Award being made available:
5.2 All Required Forms must be completed and returned to SDF within twenty eight (28) days after the Required Forms are sent. Failure to complete and successfully clear KYC or failure to submit completed tax documentation by the specified deadlines will result in any eligible Award being forfeit (unless otherwise agreed in advance with SDF).
6.1 Award Delivery: Awards will be distributed to eligible Participants within twenty eight (28) days after receipt and successful verification of the complete Required Forms. Awards will be sent to the stellar address provided by the Participant in their KYC forms. Award recipients are responsible for any fees associated with receiving or using an Award. Failure to provide correct information on the Required Forms, or other correct information required for the delivery of an Award may result in delayed Award delivery, disqualification of the Participant or forfeiture of an Award.
6.2 Taxes: Recipients are responsible for reporting the receipt of an Award to relevant government departments or agencies where applicable and paying all applicable taxes in their jurisdiction of residence (federal, state/provincial/territorial and local). SDF RESERVES THE RIGHT TO WITHHOLD A PORTION OF THE AWARD AMOUNT TO COMPLY WITH THE TAX LAWS OF THE UNITED STATES OR OTHER SDF JURISDICTION, OR THOSE OF A RECIPIENTS JURISDICTION.
6.3 Compliance: Participants should inform themselves as to any legal and tax requirements or consequences applicable to them in respect of the acquisition, holding, and disposition of XLM. Recipients are also responsible for complying with foreign exchange and banking regulations in their respective jurisdictions.
7.1 Applicable law and our internal policies restrict us from providing XLM awards to certain categories of projects. If your submission is in one of our prohibited categories, it will not be eligible for an award. If you are unsure whether your submission falls into one or more of these categories, please contact us and verify. Regardless of the panel or community voting outcome, a submission will be ineligible to receive an award if it:
7.2 Current Ecosystem Infrastructure Grant recipients cannot submit a project that falls within the scope of their Infrastructure Grant. Projects that were previously submitted to a prior round of SCF but did not receive an award may be resubmitted to subsequent rounds PROVIDED they include significant improvements otherwise such entries will be considered ineligible (in SDF’s discretion).
7.3 In addition SDF reserves the right in its absolute discretion to disqualify any Participant, without warning, from this SCF Round, and ban them from future SCF Rounds, if they do any of the following:
By participating in the SCF Round Participants consent to the use of their personal information by the SDF and third parties acting on their behalf. Such personal information includes, but is not limited to, Participants name, likeness, photograph, opinions, comments and hometown and country of residence (“Participant Profile”). Participant Profiles may be used in advertising and promotional purposes and in any existing or newly created media, worldwide without further payment or consideration or right of review, unless prohibited by law. The duration of this consent is for a period of three years following the conclusion of the SCF Round. This consent applies, as applicable, to all members of the Participant that participated in any winning Submission.
9.1 Participants acknowledge and understand that XLM is a highly risky and volatile asset, and that SDF does not provide any representations, warranties, or guarantees of its value.
9.2 In addition to the disclaimers, limitation of liability and indemnities agreed to in the main SDF Legal Terms, Participants also specifically agree to release and hold harmless SDF and its respective affiliates, employees and agents from any and all liability or any injury, loss or damage of any kind arising from or in connection with the SCF Round and its promotion, or any awards granted.
10.1 SDF reserves the right, in their sole discretion, to cancel, suspend and/or modify the SCF Round, or any part of it including any or all awards, these Official Rules or eligibility criteria for any reason.
10.2 The SCF Round is governed by the SDF Terms of Service and these Official Rules. If there is any conflict or inconsistency between the SDF Terms of Service and these Official Rules, these Official Rules will prevail. If there is any discrepancy or inconsistency between the terms and conditions of the Official Rules and disclosures or other statements contained in any SCF Round materials, including but not limited to the SCF Round Submission form, SCF Round Website, advertising the terms and conditions of the Official Rules shall prevail.
10.3 The terms and conditions of the Official Rules are subject to change at any time, including the rights or obligations of the Participants and SDF. SDF will post the terms and conditions of the amended Official Rules on the SCF Round Website. To the fullest extent permitted by law, any amendment will become effective at the time specified in the posting of the amended Official Rules or, if no time is specified, the time of posting.
10.4 SDF’s failure to enforce any term of these Official Rules shall not constitute a waiver of that provision. Should any provision of these Official Rules be or become illegal or unenforceable in any jurisdiction whose laws or regulations may apply to a Participant such illegality or unenforceability shall leave the remainder of these Official Rules, including the Rule affected, to the fullest extent permitted by law, unaffected and valid. The illegal or unenforceable provision shall be replaced by a valid and enforceable provision that comes closest and best reflects the SDF’s intention in a legal and enforceable manner with respect to the invalid or unenforceable provision.