stacks-foundation
commented
1 year ago 👋 @Ston3cutt3r Thanks for your application! We will do a pre-review and let you know if we have any immediate questions. In the mean time please refer to our review schedule here for a detailed timeline and response dates. Best, Will
Ston3cutt3r
will-corcoran
APPLICANT
Type: Direct Application
Email: info@metastackdata.com
Discord: peters.btc#6485
Twitter:
Stacks Forum:
GRANT BASICS
Grant Name: Legal consulting for a Lightning Stacking Pool (EU)
Total Budget: 5,000
Total Duration: 70
Grant Type: Stacks Chapter Grant
Grant Track: Bitcoin Utility via Stacks
Grant Goal: Integrate Between Technologies
Grant Audience: End Users (Consumer)
Specific Audience: STX holders and lightning users
Grant Team: Michael-report, pogi01
Previous Grants:
Ecosystem Programs:
GRANT MISSION, IMPACT, RISKS & REFERENCE
Grant Mission: metastackdata.com proudly presents the first Stacking Pool with 0% commission at lowest possible BTC tx fees via the lightning network.
We are an early STX Miner and Stacker (in-house only) and are looking forward to open our gates for the public (non-custodial).
Therefore we are in close contact with an Austrian law firm who will provide legal consultation during the launch process and hope to partially compensate these costs with a Stacks Foundation Grant.
Users will earn Sats via the Lightning Network by Stacking STX. Transferred directly into their mobile wallet - Stacks will enforce Lightning payments in our everyday lives.
We will offer the cheapest way to earn BTC through Stacking. Combining Stacks with Lightning is a logical solution to foster Bitcoin and Stacks adoption.
No matter how congested the mempool is - Lightning will enable close to 0% fee payouts. Furthermore, the community will get in touch with Lightning nodes and possibly maintain a routing node. What strengthtens BTC will help Stacks as well.
Full project roadmap:
1.) Setup Lightning routing node (running) 2.) Web appearance and user onboarding (work in progress) 3.) Legal consultation (EU compliant Stacking Pool) (Grant V1) 4.) Setup and run the Stacking Pool with Lightning payouts (considering another Grant application)
This Grant application shall cover our expenditures for the legal consultation - Step 3 from the roadmap above.
Grant Impact: legal memorandum (en&de)
Grant Risks: Not applicable at this stage of the project.
Support Link: Please have a look at our pitch deck and the community feedback (link above).
GRANT ROADMAP & DELIVERABLES
FINAL DELIVERABLE
Deliverable: In order to setup a legally compliant Stacking Pool with lightning payouts in the EU we seek legal consultation (quote is approx. €5k). The goal is to define proper terms of use and a disclaimer. This benefits the users of our Stacking Pool in the future as they can be sure that they are stacking with a legally compliant Pool within the EU.