eCashNEWS.today is pleased to be able to provide a transparent look at the first eCash GNC (Global Network Council) agreement, announced in a tweet from @eCashofficial on December 6th. Although specific details regarding the operations of the GNC are sparse, and probably still being formulated, it is obvious now that Bitcoin ABC will be putting some amount of the coinbase reward towards 3rd party development.
The Permissionless Software Foundation, PSFoundation.cash under the guiding hand of Chris Troutner, is the perfect candidate for this first contact and as he commented:
"The Permissionless Software Foundation is thrilled to be awarded the first contract from the eCash GNC. This project will add value to the eCash chain, and employ a talented developer in Venezuela. We are excited to build a truly free, uncensorable, trustless, peer-to-peer marketplace for tokens."
GNC & PSF Agreement for DEX Development in 2022
The PSF and GNC have reached an agreement to fund the development of a token DEX over the course of 2022. This is a written statement to document the expectations, dates, dollar amounts, and deliverables for a collaboration between the eCash GNC and the Permissionless Software Foundation for the development of an eToken decentralized exchange (DEX).
Timeline
The DEX project is expected to span the calendar year of 2022, starting on January 1st, and completing December 31st.
Dollar Amounts
The GNC has agreed to distribute funds to pay the developers for this work in five payments. Payments are denominated in USD, but will be paid in equivalent quantities of eCash. Payments should be made to this wallet address:
• ecash:qzpssr92pw6xgzmgachqr37xgheet89x9q8my32725
The payment schedule is as follows:
• $5,000 on January 1st, 2022
• $5,000 on April 1st, 2022
• $5,000 on July 1st, 2022
• $5,000 on October 1st, 2022
• $5,000 on December 31st, 2022
The goal of the above payment schedule is to allow payments from the GNC to move in lock-step with development of the DEX project. If either party is unhappy with the progress, they are free to end this agreement. The payments should match the progress, and this payment schedule mitigates counterparty risk.
Deliverables
The final deliverable, due December 31st, 2022, has two parts:
1. A REST API server written in node.js JavaScript, that is capable of managing trades and interacting with other servers using the DEX protocol. The app will be forked from this ipfs-service-provider.
2. A browser-based web app, forked from wallet.fullstack.cash, that is capable of connecting to the REST API server to:
- Browse market orders
- Make market orders
- Take market orders
Progress Updates
Progress updates will be given regularly at the bi-weekly PSF Technical Steering Committee meetings. These are recorded meetings that are published at this YouTube channel.
All work and communication will be executed transparently and openly. All code will be published on GitHub as open source software, licensed under the GPL v2 License.
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