If you have resources to make a difference and bring value at the scale of the entire Everscale ecosystem, one way you can achieve that is bringing your idea to life through an official commitment approved by the Governance Board, introduced after a large-scale reform in 2024. Whether you prove successful, you will get a reward from the Everscale treasury, which the Board manages. In this guide, we will share with you how the commitments in Everscale work, and how to properly formulate a commitment proposal for the Governance Board.
What Is the Everscale Governance Board?
The Everscale Governance Board is a group of community leaders and key contributors tasked with managing the network’s operational development and treasury, steering the future of the blockchain. A selected group of Board’s members called Custodians get to vote on transactions from the treasury, located on a secure multisignature wallet, to ensure that every expenditure is purposeful.
How Commitments Work?
By combining the expertise of its members, the Governance Board sets clear standards and procedures for funding in Everscale. In particular, they oversee and approve commitments, formal proposals aimed at enhancing the network through new initiatives and improvements. One such commitment was approved by the Board in September 2024, when a group of influential community members proposed to revitalize the network activity by investing in user engagement, marketing and partnerships.
A unique feature of the proposal mechanism in Everscale is the requirement for an initiator to commit a security deposit: 10% of the requested reward must be transferred to Everscale treasury at the beginning of the project by its author. This step serves as the visual proof of seriousness of intentions and capabilities. For instance, in the case of the project on community revitalization we mentioned, its authors transferred 2 million EVERs before requesting 20 million EVERs for meeting the project’s KPIs.
If the project fails to achieve a specified deadline, the deposit gets burned or transferred to the main treasury. Of course, it is possible to ask the Board to extend a project’s due date in case it takes more time than expected.
In addition, to be considered by the Governance Board, your commitment must be formulated in a proposal, with its details matching a set of basic criteria:
- Attainability. The proposal should outline realistic goals that can be achieved given current resources and technology.
- Time-Constrained. Commitments should have clear start and end dates.
- Measurability. Project’s goals and outcomes should be quantifiable.
- Risk management. A commitment should identify potential risks and offer strategies for mitigating them.
- Alignment with the ecosystem. Regardless of their substance, commitments should clearly contribute to the long-term vision and strategic goals of the Everscale blockchain.
Starting a Commitment Procedure
To submit a commitment to the Everscale Governance Board, start by initiating the official process. You can do this by filling out the brief form available on the Governance page or by directly reaching out to one of the current Board members (a complete list is provided on the same page).
A Board member can guide you in preparing your commitment, helping you define clear objectives and measurable KPIs. Be prepared to present a demo or engage in discussions with multiple Board members to get approval for your initiative.
Approval, Execution, and Evaluation of Results
When a commitment proposal is submitted, the Governance Board first reviews the text and asks any necessary clarifying questions. Once the proposal is refined, it is put up for a vote. Typically, a simple majority of the Board members is enough, though complex proposals may require a 2/3 majority.
If approved, the decision is announced in Everscale’s official public channels, and the execution period begins. If rejected, the proposer may retrieve their deposit or resubmit a revised proposal after a month period.
Upon completion, the initiative’s author must deliver a public demo and report, either via a recorded video or a live session, to verify the results. If the project meets its objectives, the reward is paid after required deliverables are transferred. If not, the deposit is burned or allocated to the treasury.
Below, read our tips on how to draft your commitment proposal.
How to Draft a Commitment
1. Start with Title and Introduction
The very first element of a commitment is its title: it is your first impression, so keep it clear and engaging. Think of it as the headline of your idea. Make sure it sums up what you are aiming to do, whether it is related to engaging the community, enhancing user experience, or building a new dapp.
2. Formulate a Problem or Potential for Improvement
You can dedicate the beginning of the document to formulating an existing problem or area of improvement that you want to address with your initiative. Use simple language and, if possible, some relatable context to illustrate the problem or opportunity.
3. Clearly State Your Commitment
Next, turn to the part where you present a commitment, explaining what you plan to achieve. Be straightforward and specific about your goals. Regardless of what objective you want to complete, make sure it fits the basic criteria and is measurable, so that everyone knows when you are about to hit your target.
4. Lay Out a Plan
After a commitment, briefly outline a plan of how you are going to make your initiative happen. Write about a strategy in plain language, breaking it down into key activities or initiatives. Talk about the tools, features, or campaigns you will introduce and how they will work together to drive results. Think of it as a roadmap that shows step by step what you will do.
5. Describe Target Objectives
Obviously, every project should result in a positive outcome for the Everscale ecosystem. Share your vision of the future once your plan is put into action. What changes do you expect to see? Whether it’s more active users, better network performance, or even new partnerships, paint a picture that motivates and corresponds to your expected benefit.
6. Set a Realistic Timeline and Other Terms
Specify when your project will kick off and when you expect it to end. A clear timeline helps build confidence in your plan by showing that you’ve thought through the details and have a realistic schedule in place. Add any other details and terms for executing your initiative.
7. Set a Reward
Finalize your proposal with the exact amount of a reward you want to receive from the treasury. Remember about the 10% deposit you must commit upfront. Also, note that the treasury is nominated in the Everscale native coin, EVER, which is used for paying rewards, as well. While the amount of EVERs to be paid in case of fulfilling the project is set at the start, it means that the project’s initiator takes all the risks of the possible price volatility.
Closing Thoughts
Proposing a commitment for the Everscale Governance Board is all about clarity, practicality, and realistic goals that can push the blockchain ecosystem forward. By writing a concise proposal that includes an engaging title, a well-defined problem statement, specific and measurable objectives, a detailed plan with a realistic timeline, transparent financial details, and a set reward, you make sure that your idea will be taken seriously and considered by the Governance Board.