Kusama is the “canary network” of Polkadot (a kind of ĞTest). The token is named “KSM” (like ĞT).
But they did not set absurd monetary creation parameters to prevent their token from getting value in the mind of people. Instead, they choose a 10% year increase (like Ğ1) which is given to stakers (kind of mining for their nominated proof of stake). So people started exchanging KSM tokens and even used them to fund things.
Transaction fees on this network go to a treasury that can be used to fund projets through proposals. At the end of a spend period, a fraction of the treasury’s remaining tokens are “burned” (destroyed). You can read this blog post to see some examples of projets funded like this: Kusama Treasury Funds Seven Teams in Seven Weeks.
For example, they seem to have funded Polkawallet (kind of Ğecko) with it (see gdoc of the project).
I still have some questions:
- who are the people in the Kusama council
- how to find the results of the proposals for polkawallet for instance
- where did the KSM go
- what kind of exchange rate can we expect so that we can pay our developers in €
I will complete this topic when I find answers.
When I have a clearer picture of this, I might try to ask funds for Duniter this way. But I already know that:
- we need KSM to submit proposals on Kusama (5% of the total amount we ask for)
- we need to convince people who have never heard about Duniter
- here is the application template
Whether we succeed in this or not, I think it’s a prerequisite to ask a w3f grant because it shows that we understand well what we are doing. And for me it makes sense to start asking for “test currency” before asking for “main currency” (as you would first ask ĞDev or ĞTest before actual Ğ1).