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Kuoka Project Aims To Raise Enough Funds To Start 10 Bakers In Africa With The Help Of The Objkt.com Fundraiser
For the fundraiser, the Kuoka Project partnered with objkt.com to raise 60,000 XTZ.
This will be enough to fund 10 self-sustaining independent public bakers (Tezos validator nodes) across sub-Saharan Africa.
By: Lee Evans
28 June 2022
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
This will be enough to fund 10 self-sustaining independent public bakers (Tezos validator nodes) across sub-Saharan Africa.
Objkt.com will feature the fundraiser in the same way they had for the Ukraine fundraiser.
Kuoka Project is a non-profit initiative founded Nelly Chatue Diop (CEO and Co-Founder of Ejara), Mike Radin (Cryptonomic & Galleon wallet), Kevin Mehrabi (Founder of Stabletech), and many other volunteers that have been helping guide new Tezos bakers in Africa to learn the ins and outs of setting up a Tezos node and to start baking.
All baker candidates that aspire to receive funds to start up a node are vetted.
They must have public identities. They must prove they can maintain technicals, distribute payouts, and can maintain social media communication with their delegators.
The funds will be collected by a Kuoka fundraiser wallet and distributed to the bakers as they prove they are capable and their baker is ready.
Initially, only the bond amount (600 XTZ) will be transferred to the baker’s wallet and the rest of the funds to reach the complete 6,000 XTZ roll that allows you to fully run a node, will be delegated to the bakers by Kuoka Project.
The Kuoka Project funds that are delegated will be secured in a multi-sig wallet.
Eventually, the full 6,000 XTZ should be available to the bakers so they have room for people to delegate to them and they can increase their position within the network.
Bakers will need to sign a prior commitment for continuity and submit a contingency plan in case they become unable to continue. This will be reviewed by the Kuoka Project team.
More information on the project and fundraiser can be found here.
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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