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Vincent Villafuerte for Dev Protocol

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Helping your favorite Open Source Project with Stakes.social

As we get free to use the open-source software, maybe there's something on our mind that we should give back to the project that helped us. Yeah, helping them to fix bugs, make changes or make suggestions on their project, but there's also another way to help them and that is the Stakes.social. In Stakes.social you can support their development cost by staking $DEV token.

Advantages and Disadvantages of OSS

There's a lot of advantages and disadvantages of Open Source Software, but these are the highlights I listed:

  • Advantages

    • Created by skillful and talented people.
    • People can use it for free depending on the license
    • Open-source software may benefit many businesses
    • Help you become more flexible.
  • Disadvantages

    • Development costs
    • People come and go

What is Stakes.social?

Stakes.social is the first official Decentralized application (Dapp) built on the Dev Protocol that was released in June 2020. Stakes.social is a new sponsor platform where both developers and sponsors are rewarded with tokens if they support their favorite projects by staking DEV tokens. Dev Protocol is a technology that monetizes people's projects and makes everyone happy.

If you are familiar with some projects like

People are loving them, supporting their projects, and these projects have one of the most stakes on Stakes.social. There's a lot of projects onboarded there that you may like to support.

Buy / Sell $DEV

You can buy or sell DEV tokens on various DEXs (Decentralized Exchange) like Uniswap. If you are new to crypto, please see the guide here.

Buy/DEV

Earn $DEV while supporting OSS on Stakes.social

It is like GitHub sponsors but it differs because your money will not be lost if you stake it to the Open Source Project on Stakes.social but it will increase just like at investment and the creator of the open-source project will also be rewarded with your $DEV. It is best to hold your $DEV in Stakes.social to increase your support to their project, but don't worry because you can withdraw your $DEV anytime if needed.

In a simple explanation

The ecosystem can have two types of participants where supporters can earn through staking and creator get rewards for monetizing their activity on the platform.

In my own opinion, it is a win-win situation 💯

The Key Features of Stakes.social

  • To help the open-source community
  • Tokenize Open Source Software assets
  • Both developers and sponsors are rewarded with $DEV

This is not limited to you because you can also onboard your open-source project and stake to your own project on Stakes.social. But it is also best to support other Open Source Developer just like you.

Onboard your OSS to Stakes.social

If you have Open Source Project that needs financial support, you can onboard your project to the Stakes.social. In order to get support from the community, you can tweet your project on Twitter and tell them that you onboarded your project.

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Read the full details of the onboard guide here.

Here's the following example of a wallet that accepted on Stakes.social

A wallet is used for managing your crypto assets. You need to have a wallet to store the DEV tokens on the Ethereum Network. Since Dev Protocol doesn’t provide you with a wallet function, you have to get one by yourself.

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Ready your Gas fee

You need a gas fee to register at Stakes.social. It fluctuates depending on the congestion condition, however, you would need about 0.0436ETH. Read the full details here.

Guide to get support

  • Write a good README for your project
  • Tweet it and don't forget to include the $DEV tag
  • Promote your project to your supporters

If you are interested in this topic and want to ask the $DEV Community. Feel free to send your message 👇

Discussion (1)

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Vincent Villafuerte Author • Edited

I will be posting an event this monday for Blochain developers or aspiring developers. Keep in touch 💥