Signs we can find in scam crypto projects

Signs we can find in scam crypto projects

For an investor who has some experience before investing in any cryptocurrency, there are many things he might check to ensure this project is not a scam.

1.He searches to see if there is white paper or light paper explaining the project. If he does not find it,
this is not a good sign. If there is, he tries to read it.

2.Try to verify the project's website and the existing products to see whether they are real or not.

3. Trying to verify the project's presence on social media platforms such as Facebook, Telegram, YouTube, Discord, LinkedIn, and other sites and examining whether the project has a real presence and interaction on social media sites or not.

4.Trying to verify whether the code is open source or not, and also whether the code is available on GitHub or not.

5.Trying to review and collect information about the team behind the crypto project and examining their experience and skills. 

Sometimes information about the team can be found on LinkedIn or on the project's website itself.

6.Make sure that the project cryptocurrency is listed on popular and reliable cryptocurrency exchanges.

7.If the project is old, it may give the investor some confidence.

8.If the project is managed by a decentralized autonomous organization (DAO), this gives it more confidence.

9.Trying to examine the smart contracts for the cryptocurrency and the project and check what the blockchain network is that the project depends on, and trust increases if the currency is built on its own blockchain network.

10.Trying to track whether there is strong propaganda for this cryptocurrency or not, if there is strong propaganda, gives confidence in this currency.

11.Follow the project on various social media platforms. Are they talking about promising future projects?

If so, this also gives confidence when those responsible for this project talk about ambitious plans that
will take this project to a higher level.

12. Try to check the price in the recent period to see if the trend is rising or not. If yes, this gives confidence and creates the impression that this project may be profitable.

Now, from the point of view of an investor with limited experience, if he finds that the previous signs are positive, he believes that this project is guaranteed and not a scam.

But in reality, there are many projects that have all these positive signs and are just an organized scam,
and the scammers behind them know how their victims think and know how to deceive them.

Now let us examine more deeply and check other signs that reveal more facts about any crypto project.

1. Unfortunately, most crypto projects do not have an accounting or financial system that produces reports and financial statements that conform to standards.

But in real crypto projects, we will certainly find in the governance forums some financial reports,
"It may not be prepared according to standards," published about expenses, revenues, or even department budgets.

If we do not find any financial formation, this is a sign that this project is most likely a scam.

If some financial reports are published, check them. Do you find the expenses reasonable? Or exaggerated? 

Are there good revenues that cover expenses?

Is the spending for marketing only, or also for programming, operations, and other development departments?

In crypto scam projects, you will often not find any financial information published anywhere, and if there is financial information, you will find that the expenses are exaggerated in addition to very low revenues, with the focus on spending on marketing operations to attract new victims.

2.Check the governance forum and other communication channels, such as Telegram, Discord, and other communication channels.

Do you find any objections or criticism from the members? If you do not find any negative comments, this is a very bad sign. 

Mostly, there is no transparency, and they delete negative comments and ban members who have different opinions. These are signs of scam projects.

There is no crypto project, even if it is good, that does not have negative comments and opinions from members.

If there are negative comments and opinions, are there realistic and truthful responses to them from team members, or are they just ignoring, lying, and giving illogical answers?

Also, do not limit yourself to examining recent topics. Examine old topics on the Governance Forum and examine old discussions on Telegram and Discord. Search for negative comments and respond to them. You will learn a lot about this project.

Also, examining the Governance Forum is very important. Do you see real interaction on it?

Has the team responded to proposals and problems? Or do you find the forum empty of any interaction?

Try posting a proposal or problem and waiting for the reaction. Often, in scam crypto projects,
the Governance Forum has no real interaction.

3.Check the team. Do you find that all specializations are present? Or are they just focusing on attracting marketing employees and community managers?

Do they publish recruitment advertisements for various specializations?

Do they really recruit employees, or do these advertisements remain for months without recruiting any employees?

One of the signs of scam crypto projects is that no employees are added to the development, programming, and operations departments. Only they add employees to the marketing department.

4.Try to search for information about investors in this project. There are investors in the field of cryptocurrencies who are known to invest in scam crypto projects.

5. If the crypto project is managed by a decentralized autonomous organization (DAO), in previous votes, was there any cheating or manipulation? Are there comments or people providing evidence
that the voting processes for previous decisions are fake? Vote manipulation is one of the signs of scammy crypto projects.

6. If you find that the project code is open source and available on GitHub, this is not enough to feel confident.

Through GitHub, you should check whether there is real development and modifications being made to the project continuously or not, and also whether there is a team working on the project or not.

7. Examine the price and its movement since the beginning of the project, even if the movement began years ago.

If you find a sudden rise or sudden down, search into the project's history for the real reasons behind it.
You may find that there is manipulation behind it.

8. Check whether there are development plans announced or not and whether they are linked to a timetable or not.

Are the steps implemented at the specified times or not? Compare this project with similar projects.
Did they implement the same steps in the same period of time, or is this project later than similar projects?

In scam projects, there are no announced development plans, and if there are, nothing is implemented on time, and you always find similar projects taking more steps in the same period of time.

9. Do you find an exaggerated interest in marketing and promotion more than other departments?
Excessive attention to marketing and promotion is a sign of scam projects.

10. Are there serious attempts for this project to search for partnerships with other crypto projects? Are there real programs to develop and support this project?

Or are they just interested in trying to list the cryptocurrency on as many trading platforms as possible and build communities that cover multiple countries and multiple languages?

This is also a sign of crypto scam projects; the interest is not in developing products but in attracting people who will buy the cryptocurrency.

I know that applying these steps is difficult, tiring, and takes time.

But here we are talking about investing money. We want to make sure that we are not investing in a failed project or a scam. 

The scammer may be smarter than we think. They try to make everything look good from the outside.

Or even projects that are not scams if you examine these points in this way and find negative signs.
You will know that this project will never succeed.

It requires a more in-depth study to ensure this investment. In the long term, success

I think that I was able to mention many of the important signs that should be examined in any crypto project, and perhaps many people do not pay attention to them.

Analysis of other DAOs forums Part 1

Decentralized Autonomous Organization (DAO)

New form of organization appeared to the world and its emergence was more related to crypto industry and it is also a new, unique and distinctive form of democracy and centralized systems of government
From my point of view, it is able to change the face of the world and changed our view of things and shown a new way of managing

from a website messari We can explore a lot of DAOs organizations
https://messari.io/governor/daos

My idea that analyze other forums

Each forum is completely different from the others
It has a different nature of discussions and a different method of use, even the nature of the members is different

Some forums are less active and almost useless ,while some forums are very active we can find projects in the crypto world literally run by forum and community members

all proposals, partnerships, ideas, appointment of employees, determining salaries and anything else is through the forum
forum discusses everything and then sends the approved proposals to Snapshot

There are other forums that are full of ideas and visions and always present good things such as ways to governance, ways to prepare budgets, accounting, management , marketing and product development.
All this is published on the forum in the public , and other DAOs organizations can benefit from it, study it, and implement it

I’ll try to analyze the other DAOs forums ,one forum every time and I will select Good ideas

I will start by analyzing 1hive forum , I see it as a good forum

https://forum.1hive.org/

One of the most good sections

Ideas , Cafe

In the Ideas section, we will find many members who publish good ideas that they try to benefit the project , in fact some of them are good and useful for other crypto projects

In the Cafe section we find useful discussions and sometimes produce ideas that help the success of the project

The interaction in the forum is high

There are many topics in this forum about governance, building the DAO, and marketing
and about establishing a structure and laws for the DAO and many other topics

maybe this forum is not a model of decentralization and does not manage the project

But what I liked about it the interaction of members in presenting new ideas and in discussions

Dapps that come from the future

 
Dapps that come from the future

I have an idea, and I want to share and discuss it.
We are now interested in Dapps and trends, ideas, and applications in the cryptocurrency industry today, interested in the past and present, but not interested in the future.

My idea is to be interested in Dapps that will appear in the future.

I will simplify the idea.

For example, if a developer has an idea for an application, he tries to make it real and put it on the market. Maybe now he is in one of the next stages.

Stage 1: Just an initial idea for application in any field, NFT, DeFi, or anything based on Web 3.

Stage 2: business plan draft, The developer has already started writing a business plan and visualizing his idea.

Stage 3: getting started, writing the code, creating a prototype, and testing it

Stage 4: The first model is complete, but it needs, for example, investors.
or co-founder, or some programmers or marketers to join the team.

Stage 5: The product is complete, but we are just waiting for the right time to launch.

If there is a section, developers or investors can add their applications before they are launched in the market and precisely define the application at what stage exactly.
and on which network exactly does he intend to launch Ethereum, Solana, or any other blockchain network, and what is missing to launch its application?

In the end,we will own an explorer and a database for future ideas and applications that have not yet been launched.

Of course, not all of them will turn into actual applications, and perhaps some will remain just ideas, nothing more, but a lot of ideas will turn into projects, and some of them will be successful.

But this section will be useful to several parties.

First part: developers

He can now create publicity and promotion for his app even before it is launched.
and perhaps he can attract investors, cofounders, and talented employees to join his idea.
He can now put his application, even if it is just an idea, in the implementation stage or pre-launch stage for others to see.

Second part

Now we can find a database of applications, ideas, and future trends in the crypto industry.

We can now produce reports and information about the future, not just the past and the present.

This section will be inspiring and full of ideas and visions about the future of the crypto industry for investors, developers, users, and anyone interested in the crypto world, through which anyone can review ideas in their various stages before launching them.
We can produce future trends and predictions about the crypto industry.
based on the data it owns


Third-party investors

Investors can track the different applications in their different stages, and if they see a promising application, they can invest their money in it or join as a co-founder or even as a talented employee.

Or if you are an investor with small amounts, you can wait and follow the project until the launch stage; once it is launched, you are ready to buy the token or coin that it releases at cheap prices and wait for its prices to rise after that.
You have chosen the projects that you see as promising and followed them before they launched, and as soon as they were launched, you invested in them.

I think with this idea, we can become explorers of the future in this industry.

announce it before implementing it, will be a participant in building the future of the crypto industry and making more profits.

The idea is just for discussion; it may be good or maybe not.

Establishing procedures and rules that control the financial and technical support provided by any crypto project

There is a difference between two things.

The first

Whoever requests technical support only to be able to build his decentralized application on any crypto project, and we can provide support to him in a decentralized manner through our educational resources available to everyone, and through our communities of developers, we will only guide him on how to deal with our educational resources and our community, and he will receive support for free.

The second

Those seeking financial, management, marketing, legal, or technical support that is more than just advice and guidance

This requires setting rules and procedures that protect any crypto project from losing its money, getting involved in bad projects and agreements, being scammed, or getting into problems of any kind.

Here I will mention some examples of agreements and projects that may be bad, and no one notices that at first.

A programmer or group of programmers may come and ask for funding and support to build an application based on any crypto project, and they get it, and the application succeeds, and after a period of one or two years, they stop supporting any crypto project in their application.

If that happens, any crypto project will lose time, money, and effort.

We have not noticed from the start that we should write an agreement forcing them to support any crypto project for a period of seven years, for example.

Another example might be a talented programmer coming in, asking for funding and support, getting it, and building a successful decentralized application.

After a period of time, due to illness, death, or any other reason, the application stops, and we also lose our money, time, and effort.

This can also happen even if the responsible team and not one person stop supporting the application for any reason.

There should have been an agreement between any crypto project and the other party that, in this case, gave us the right to control the application so that it would not stop.

Examples are many, and we should think about all possibilities to establish rules that protect any crypto project from risks.

Everyone who comes to us asking for support or funding should answer several questions.
I will mention here some questions as examples, and by answering these questions

We can get an initial idea of how serious he is and whether his project is capable of success or not.

Did he study his idea or not? Does he really know how to build success?

Questions:

1.What is your idea? Who are you? What are your qualifications and previous experiences?
And what are the qualifications and experiences of the team that is with you, if you own a team?

2.What support do you expect from us? Do you expect financial support, technical support,
legal support, marketing support, or other support?

3.Do you have a feasibility study, business plan, operating plan, or marketing plan that you have prepared? If the answer is yes, please let us know.

4.Have you studied the market you intend to enter? Who are your competitors?
What are the expected profits and sales? What is the size of the market you want to enter?
Have you done statistics? Have you done research?

5.Will your project be open source or closed, and if it is open source, under what license will it be released?

6.Do you have a team? Can you form a team? Are there experiences that you need in your country available? or will you rely on a team from other countries working with you?

7.Will the laws in your country allow you to launch your application there, or will your company be in another country, and are you able to implement that?

8.What risks do you expect to face, and do you have plans to overcome them? What are these risks, and what are these plans?

9.How much time do you expect to complete your project or application?

10.How much do you expect your idea will cost, and what specializations do you need to help in implement your idea? How many are there?

11.What programming languages and technologies do you intend to use, and do you have
all the technical and mental capabilities to implement your application and write the code, or you will need our help?

12.Why do you think your idea will succeed? What advantage will you have?

13.Are you ready to sign agreements with us that protect your rights and our rights?

14.What are the reasons that made you think about building your application on any crypto project?
Is it just the possibility of obtaining financial or technical support, or are there other reasons?

I only present these questions as an example. The real questions may be more, less, or even different. What I want is to create a way through which we can initially judge how serious the person who asks for support is.

Is his idea worth supporting or not?

And also establishing rules through which we can judge whether to provide support or not.
These questions, if we think about them, will help us extract the rules that will control the support.

I tried to provide a basis and rules that protect any crypto project from getting involved in bad projects.

or even involved in a good project, and after a while we find ourselves not benefiting anything from it or involved in legal or technical problems or any other problems.

Some thoughts about any crypto project promotion

Some thoughts about any crypto project promotion

When we try to analyze any crypto project promotion, we find that we can divide the promotion process into several sections.

1.Promoting any crypto project as a project in general

2.Promoting the currency as a separate product

3.Promotion of any crypto project among developers to attract them to build on any crypto project

4.Promotion of any crypto project among investors

5.Promoting the projects that are built on any crypto project

6.Promoting any crypto project future projects, plans, and ideas

If we analyze the matter in this way, we will find that we have several paths for promotion, not one path, and each path needs a different promotion plan. For example, promoting the project in general is different from promoting among developers and different from promoting among investors.

Each category needs a different speech, different plans, a different vision, and a different message.

Dividing the paths in this way helps us a lot in building the right plan for promotion.

Now that we understand that we are not promoting one thing, but rather several things,
each of which has a different way to promote it.

Now we will try to discuss some promotional ideas.

1.I have talked about this idea a lot before, which is to create a decentralized community for any crypto project developers.

Every day around the world, millions of programmers search for training opportunities. Several million attempts are made every day to search for training opportunities and jobs.

If we publish regularly and with an organized plan on remote work websites about finding trainees who want to join any crypto project

This will be, in itself, a strong promotion for any crypto project.

It will attract the attention of thousands of programmers around the world, and in the end, this will increase the popularity of any crypto project.

2.There are many channels on YouTube that specialize in crypto; some are very popular.
These channels, whether the language is English or other languages such as Spanish,
Arabic, or any other language. We can try to contact whoever controls these channels or
Try to convince him to create videos about us.

It is possible that we prepare a file containing information that can help him prepare this video.
Mostly, he will ask for money. If the cost is acceptable, we will pay him. This will be a very strong promotion.

If the channel is famous, other channels will talk about the same thing. In the end, all will talk about the trend.

When we search on YouTube now, we cannot find many videos talking about any crypto project.
This makes it unpopular and unknown. Some channels are very influential. just showing a video of talking about any crypto project will make a big difference.

Also focus on programming education channels specialized in blockchain and also non-specialized channels.

We can try to communicate with them and convince them. By making educational videos on how to build on any crypto project

We should create our own community of developers and try to attract even ordinary programmers, not just specialists in decentralized applications, to our community.

3.We should be interested in LinkedIn; one of our goals is promotion among developers.
LinkedIn is one of the best tools for this.

Through it, it is possible to communicate and promote among many programmers, whether interested in decentralized applications or not.

We will create our own community of developers.

4.We should have stories about any crypto project.

We should have stories about how we started, about our plans, about how we will succeed, and present all this in a human way. People always liked that.

They like to feel that they are dealing with something they understand and feel, rather than something static.
This creates a lot of communication between any crypto project and people in the crypto world.

There are many other ideas that I will probably talk about later.

The departments we should create in any crypto project

As I always say, these are just ideas that can be discussed with the community to find better ideas.

I think any crypto project needs to create some departments.

Department of Research and Creativity

Department of Decentralized Applications Launcher

Department of Data Science and Data Analysis

I am able to build the foundation, concept, plan, and vision for these departments and begin working on them alone until the ability and resources are available to any crypto project to hire employees in them.

Question now

What is the importance of these departments? Perhaps focusing on attracting investments
and building relationships with other crypto projects is more important now.

Certainly this is important, but no more than the establishment of these departments

To make any crypto project able to easily attract investment and build relationships with other crypto projects it should be more popular and have new ideas and a new vision, and these departments will help with that.

These departments can be established without any problems, and it is not difficult or financially expensive.

Rather, its establishment may lead to finding solutions to reduce costs and will be the basis for making any crypto project in better place.

Yes, it is possible through personal connections to get some investments or establish relationships with other crypto projects, but the results will never be great.

These departments will make any crypto project’s position in negotiating with any investor or any other party stronger, and the results will be better.

If we don’t offer something different, if we don’t have any advantage, there are many competitors in the market that are stronger than us, richer, more effective, and more famous.

Department of Research and Creativity

Why did you choose the name Research and Creativity and not Research and Development as usual?

Because its goal is not only research and development but also to find creative ideas and solutions.

We always try to find exceptional ideas and solutions with which we can be a strong competitor, so solutions should be very creative.

What should this department do?

1.Research deeply into the field of crypto and blockchain and collect information about what is happening in the market.
Study current projects and the current situation from all sides.

This research and information helps management and also helps other departments such as marketing,programming, and the Decentralized Applications Launcher department, and this is its main purpose.

2.Find ideas for decentralized applications executable on the any crypto project ecosystem and build integrated plans to create a decentralized application that includes programming, financial and technical aspects, time required, what specializations are required, number of employees required, cost, competitors, market, code, structure, and all the details related to launching decentralized applications.

3.Preparing educational materials and training plans that will be presented to programmers and other specializations that will work on building decentralized applications.

4.The role of the Research and Creativity Department is not limited to providing creative ideas and solutions, researching the field of crypto, and developing decentralized applications.

But its work extends to researching and finding solutions and ideas to develop all aspects of business, such as the decision-making process, financial, administrative, marketing, human resources, and any other aspects.

I plan for its concept to be comprehensive.

5.Doing research to develop any crypto project itself

How can we find new and innovative ideas?

1.The new idea may be based on an old, known idea, or it may be the result of merging two or more ideas together.

2.The idea that was implemented by others but did not succeed and was forgotten It may be a good idea, but it was implemented in a bad way, and we can re-implement it in a more successful way.

3.The idea that has been applied in other fields that we can try in the field of blockchain

4.It may be a traditional idea, but it can be applied in an innovative way.

5.The idea based on theoretical research and not yet implemented

6.Maybe it’s a completely new idea and comes from someone’s mind.

Department of Decentralized Applications Launcher

I’ve mentioned this idea in detail in a previous post.

Building communities interested in promoting any crypto project to investors is a very good thing.
But attention should also be given to building communities for programmers and developers who are interested in building on any crypto project.

What should this department do?

1.Build and manage a decentralized community for building decentralized applications on the any crypto project .

Searching for trainees, programmers, and the specializations required to build decentralized applications in light of limited financial resources.

It searches for talents from trainees without or with little pay, trains them, organizes them, and forms teams from them with the help of training materials coming from the Research Department, and relies completely on the Research Department.

Ideas and plans for decentralized applications come from the research department, Decentralized Applications Launcher is responsible for their implementation.

2.Continuing support for teams from scratch until launch and after launch

It is responsible for implementing the plans of the Research and Creativity Department and is constantly and regularly capable of launching many decentralized applications.

It begins by obtaining the idea and plan from the Research and Creativity Department and begins to search for programmers, train them, form teams of them,and make them build these applications and help them build independent entities.

any crypto project will own a large percentage of the cryptocurrencies and property rights from any project launched in this way.

Department of Data Science and Data Analysis

It uses data science, data analysis, and its tools to implement analyses that benefit the
Research and Creativity departments. It also provides its services to marketing, management, finance, and other departments.

Build teams of talented developers to build decentralized applications on any crypto project without the financial cost

Build teams of talented developers to build decentralized applications on any crypto project without the financial cost

Any crypto project needs to build successful and diverse decentralized applications on it.
To be more famous, we will not wait for talented teams to come to build projects on any crypto project. We will build these teams.

We will build the decentralized applications we want, and they will help us with that, and then these applications will become separate projects from any crypto project .

The question now is: how can we build these teams with limited financial resources?
There is no ability to pay salaries to hundreds of developers to build many decentralized applications on the any crypto project ecosystem.

There are many websites specializing in remote jobs.
Some of them specialize in crypto; others are general; and some are very popular and known internationally.

For most of them, we can post the required roles for free.

Through it, we can publish the roles required for programmers and other specializations who are interested in the world of blockchain and decentralized applications.

Conditions: They will not be paid, or they will receive a very low salary.

Who will we target with this?
Students, recent graduates, non-professionals, and programmers who want to learn a new skill and move to programming on Web3

The idea will work if someone tries it, and if it doesn’t work with him, then he didn’t apply it properly.

The idea is not new. Many software companies do this, and some of them work in the field of crypto These companies employ many programmers without pay or with a very low salary, and hundreds, perhaps thousands, apply for them.

In this way, we will have hundreds of programmers and other specialists to help us launch many decentralized applications based on any crypto project and without financial cost.

The question now is why I think it will succeed and that many programmers will be interested in joining us while we do not pay salaries or pay low salaries

I will mention the reasons why I think that will work.

1.The target audience is students, recent graduates, non-professionals, and programmers who want to move to Web3 and those who are looking to gain experience that qualifies them later for work, and at first they do not care about money.

They often search a lot for work but never find it because they do not have experience and do not have many options.

This will be a very good opportunity for them.

2.We can make any crypto project give experience and training certificates.
and be gradual.
For example, those who complete 3 months will get a bronze certificate.
6 months will get a silver certificate, and a year will get a gold certificate.

3.There will be a strong training program, but in a decentralized manner.
Tutorials on how to build on any crypto project will be available online on YouTube, GitHub, and PDF files.
Whoever joins us, we give him links to start his educational program without any interference from us.

Any questions he has can be asked in the developer communities that we have built on Discord, and he can interact with them.

Therefore, there will be a great opportunity for him to learn a lot.
Perhaps there are professional programmers who will be interested in joining us and consider this a training course for them.

4.There will be a ready list of the projects that we are building. The trainee chooses the project he wants to join.

Working times will be flexible, and project management will also be decentralized.
Each project will have leaders with more experience.
perhaps also chosen from among the trainees, but who have previous experience or great talents.

It is preferable that the projects be open source, available on GitHub, open to any programmer who wishes to participate in their development.

5.There are communities that we have built for programmers interested in building on any crypto project to communicate with each other. We will try to make the trainees communicate with each other and encourage them to build new teams working on new projects on any crypto project that may be their own ideas.

We give them the opportunity to launch their startup company.

6.Hardworking programmer will get paid from the token of the project they are working on.
If he can form a new team and build a new project, they will receive funding from any crypto project and great support or even join us in fixed jobs with good salaries if he proves high efficiency.

It will be decentralized as soon as a new programmer joins, and the training will be done without our intervention.

Training materials are available online and can be accessed by anyone.
Also, joining projects and forming teams All of this will be done in a way that does not require any time or effort from us.

The communities will be open to anyone who wants to participate.
We will only build communities on Discord, for example, and all of this will happen through interaction between programmers.

We will only advertise and promote strongly to encourage trainees to join us and mention the possible benefits.

Promotion will be through remote employment websites.

If we implement the matter seriously and patiently, we will have a constantly growing decentralized community that builds decentralized applications on the any crypto project ecosystem without any high financial costs because it relies mainly on unpaid trainees.

Now let’s answer some logical questions.

What about the trainees who withdraw and do not continue cooperating with us?

What will he do after he leaves us?
He will go to work for another company and write on his resume that he has worked or trained on a project that relies on the any crypto project ecosystem. Therefore, this company will know about us and may be excited to build on any crypto project or support any crypto project in its projects.

This is what we want to do to promote any crypto project and make it popular.

Another thing is that perhaps there is an opinion that the targeted people, such as students and new graduates, do not have any experience and will not be able to provide us with any added value.

There are many students, recent graduates, and even non-professional programmers who have excellent skills and experience.

They have increased their programming skills themselves through YouTube, available sources on the Internet, training courses, and self-research.

Some of them are at a higher level than professional programmers.
But they cannot find work because they have never worked for a company before and no one recognizes their self-acquired skills.

Only if we search well will we find what we want.

Also, in any project, we find that 70% of the code and work required to build it can be done by any programmer, even if he is a beginner.

We can allocate talented people to be project leaders and build the 30% hard and beginners build the 70% easily.

This is just an idea that I am presenting. It may solve one of the problems facing any crypto project, and I am open to discussion and communication.

Improving the decision-making process in DAO by using Six Thinking Hats

When I started engaging in crypto communities and decentralized organizations, I found a new and different way of making decisions. Decisions in decentralized organizations are made by the community. It is a wonderful and revolutionary concept that will change the form of management in the world in the coming years.

Decision-making collectively by the community has many advantages, as there are many members of community who can see the matter from many sides and think in many ways.

But the question now

Does making decisions collectively by the community always give the best results?

In fact, not always. Sometimes, while voting on a decision, one way of thinking, one feeling, or one point of view dominates most members of the community.

It pushes a community to make bad decision, and the opinions of those with expertise may also get lost among the noise and the voices of others.

I was thinking about that before: what are the ways that might help improve the decision-making process in decentralized organizations?

The decision-making process needs improvement and controls that will always keep it in the right track, obtain its advantages, and avoid its disadvantages.

I intend to start writing some posts about ideas for improving the decision-making process in decentralized organizations.

Today I will start talking about using a concept that is not new, but I think that applying it may help improve the decision-making process.

Six Thinking Hats  

What are the Six Hats, and how can they help us improve our decision-making process?

To make things clear and understandable to everyone, I will explain it in a very simple and brief way and in my own way. It is famous, and you can easily search on the Internet and find a lot of information about it if you want to understand it more.

In life, you meet many people who have different ways of thinking, and sometimes the same person may think in many ways at different times or even combine many ways together at the same time.

For example, you may meet an optimist who always sees the positive side of anything and always believes that the best will come, and you may meet another person who, in contrast, is a pessimist who only sees the negative side.

Another person is controlled by his emotions, and another person thinks in a neutral and realistic way and is only motivated by facts and information.

You may find another person who always has innovative ideas and always tries to find unusual solutions to problems, and another person who has a comprehensive view and tries to see the matter from several aspects.

These are six patterns of thinking.

It may be used by different people, and sometimes one person may use it at different times or even at the same time.

Each of these six thinking styles is assigned a hat.

Optimistic thinking is equivalent to wearing a yellow hat.

Pessimistic thinking is equivalent to wearing a black hat.

Emotional thinking is equivalent to wearing a red hat.

Neutral thinking is equivalent to wearing white hats.

Innovative thinking is equivalent to wearing a green hat.

Comprehensive thinking is equivalent to wearing a blue hat.

Let's take a simple example: I have six people, each wearing a different color hat, and I invited everyone to eat a meal of delicious potatoes.

How will each one of them respond to the invitation?

The one who wears the red hat, then,he is thinking with his emotions. He will tell me, "This is a very good thing. "I love potatoes very much, and I will come."
He didn't think about anything else, but he just loved potatoes.

The one who wears the yellow hat is always optimistic and sees things in a positive light. He will tell me that potatoes contain a lot of calories. Potatoes will give him a lot of energy and taste delicious. It is a good meal. He is coming.

The one who wears the black hat is a pessimist who only sees the negative aspects of things. He will say, "I'm sorry." Potatoes contain high calories, cause weight gain, and cause diseases. I don't want to eat this meal. I won't come.

The one who wears the white hat will start reminding me of the number of calories in each kilogram of potatoes and reminding me of the benefits, minerals, and vitamins found in potatoes, as well as the harm that they may cause. He only looks at the facts and information.

The one wearing a green hat will suggest innovative ways to prepare the meal, how to cook it, and what we can add to the meal to make it more delicious and wonderful. Because he is always innovative, creative, and gives new ideas

The one who wears the blue hat says that potatoes contain a lot of calories, but if we eat the right amount, they will not be harmful. Then he asks me about the date of the invitation, the way the potatoes were cooked, the invitation arrangements, who will attend, and the rest of the details.

He has a comprehensive outlook.

Is one way of thinking better than another? No, if we see these ways and see these people, we find that they complement each other; each of them sees things from a different side. If they come together to make a decision, the decision-making becomes more integrated, and the picture becomes clearer.
 
The presence of different thinking patterns makes the process of thinking and decision-making more accurate, and this is what is required. I think now that the idea has become close.

Applying this concept in DAO when making decisions means we look at any decision from different sides and try to think in many different ways. This will improve the decision-making process.

What I suggest is not new, but it is already applied in many companies and in many matters.

Six hats is a famous concept. It is used by many and achieves great success.

I will now try to assume virtual scenario in DAO.
 
On the Governance Forum, we now have a proposal to launch the (non-fungible tokens) NFTs application on the DAO ecosystem.

How can the six-hat concept be applied?

I created this simple illustration to make it easier to understand.



I described things in an easy way, but it is very useful and will improve the decision-making process.

This is a Wikipedia link for anyone who wants to know more about the Six Hats, and in general, there is a lot on the Internet about the Six Hats.
https://en.wikipedia.org/wiki/Six_Thinking_Hats

Innovative idea that may help build relationships with other crypto projects

Innovative idea that may help build relationships with other crypto projects

One of the challenges facing any crypto project is the ability to build relationships with other crypto projects and to be able to convince other crypto projects to support any crypto project in their projects and applications.

It is not an easy challenge because any crypto project is not popular enough to encourage crypto projects to support it.

I have an innovative idea.

Many crypto projects have funding and grant programs that provide financial and technical assistance to anyone who comes to them with a good idea or a good project that can be implemented based on their project. any crypto project also has a similar program.

The projects that provide these grants are not only blockchain network projects but also many other projects and applications. We can find a lot of grant projects.

My idea is that any crypto project can use grant programs for other crypto projects to achieve their goals.

How can any crypto project do that?

1.Find innovative and pioneering ideas based on these projects and, at the same time, based on any crypto project.

The idea should build a link between the other project and any crypto project, and this is the most difficult point to find ideas like that.

But by searching deep, thinking, and brainstorming, we can find a lot of ideas.

2.We can then apply with others for funding and grant programs

3.If we have prepared everything well and are able to do that, and we studied it well from all the financial, technical, marketing, and administrative aspects, We will get it

What do we gain from obtaining grant programs from other crypto projects?

1.We got their attention to us now they know about our ideas and capabilities, and about any crypto project

It will be easy later to convince them to support any crypto project in their main project and even their sub-projects because we have already built a bridge of communication based on presenting our true capabilities and not just an offer that was presented to them and then rejected or ignored.

2.We won another project based on any crypto project and linked it to another crypto project.
which attracts the attention of users from the other project to our project.

3.We learned from their experiences.
When building a project based on their project, they will support us technically, and this will give us the opportunity to learn from them and at the same time, they now know a lot about any crypto project technically, which later encourages them to support any crypto project in their project.

4.We got funding from them, and I think that’s a good thing. Also, maybe in the future, they will want to invest more money in us and our ideas.
Also, we may think in the future about investing some of our money in their projects. Diversifying the Treasury is good and important.

5.I think this is a new strategy, and just doing it on a large scale in a planned and organized way will attract everyone’s attention to us.

This will make us more popular and famous. This is one of our main goals that we are looking for. I consider this one of the ways to promote

The idea I am presenting is for discussion only. Maybe you agree with it and find it good, or maybe you find it unworkable.

What I am trying to do here is only open the door to thinking about finding new solutions, nothing more than that.

I thought about collecting links to grant programs in different crypto projects, and there are many, but for this topic, I preferred to focus only on the basic idea in a brief and simple way.

Some links help in preparing the any crypto project constitution

 
I read that one of the goals of any crypto project governance is to create groups, and one of these groups will be responsible for legal matters.

The goals of this group include establishing a DAO structure, a Constitution/Governance Charter, a Voting Charter, etc.

I think we can benefit from and learn from other decentralized organizations.

We can read what they have already prepared.

I know that every organization has special circumstances that differ from others. For example, there is no constitution or governance rules that are suitable for all organizations, and it is not possible to copy them from others.

But studying what others have written will certainly help us prepare for what we want.

When I started getting involved in crypto communities, I found that most of them already had rules for governance and voting, but I rarely found a decentralized organization that had a constitution or a document with the title "The Constitution."

These are a few attempts to write constitutions in other decentralized organizations, and as I said before, we will not find many examples of constitutions in decentralized organizations to study and learn from, so sharing these links with the community is important.

This is why I started talking about the constitution and not, for example, the Governance Charter, because I know that there are not many constitutions written in other decentralized organizations that we can learn from.

Links to various constitutions

bankless-dao-constitution
https://github.com/BanklessDAO/bankless-dao-constitution

The Amended Constitution of the Arbitrum DAO
https://docs.arbitrum.foundation/dao-constitution

Pocket Foundation
https://github.com/pokt-foundation/governance/blob/master/constitution/constitution.md

FreeLoaderz
https://github.com/FreeLoaderz/constitution/blob/master/FreeLoaderz-Constitution-v01.md
https://github.com/FreeLoaderz/constitution/blob/master/LexDAO-Constitution-v01.pdf
https://github.com/FreeLoaderz/constitution/blob/master/ADAO-Constitution-v01.md

tendermint/atom_one
https://github.com/tendermint/atom_one   

effectai/effect-network
https://github.com/effectai/effect-network/blob/master/constitution/constitution.md

Liqwid-Labs/LiqwidDAO-Constitution
https://github.com/Liqwid-Labs/LiqwidDAO-Constitution/blob/master/LiqwidDAO-Constitution-v01.md

DAO DAO
https://github.com/DA0-DA0/governance/blob/main/constitution.md

LexDAO-Constitution
https://github.com/lexDAO/LexDAO-Constitution

ADAO-Constitution
https://github.com/ADAOcommunity/ADAO-Constitution/blob/master/ADAO-Constitution-v01.md

BITNATION-Constitution
https://github.com/Bit-Nation/BITNATION-Constitution

LeserveDAO
https://github.com/LeserveDAO/Constitution/blob/main/Constitution.md

DeGov Constitution
https://github.com/decentralized-governance/degov-constitution/blob/main/Constitution.md

ENS DAO Constitution
https://docs.ens.domains/v/governance/ens-dao-constitution

BrightID-Constitution
https://github.com/BrightID/BrightID-Constitution

Links may also be important.

https://constitutions.metagov.org/

https://github.com/metagov/constitution-template/tree/main

https://github.com/ArbitrumFoundation/governance/blob/main/docs/overview.md

I believe that the first step to achieving any crypto project's governance goals is in-depth research and studying the experiences of others.

I am trying to help with that.

Create audio logo for any crypto project

Create audio logo for any crypto project

I have an idea: maybe it's simple but nice to create an audio logo for any crypto project.

But what is an audio logo?

An audio logo is a sound, effect, short music clip, musical riff, or voice-over that is mostly between three and five seconds long. It should be short and easy to remember.

An audio logo is a brand's signature or "identifier," but most importantly, it has a powerful sonic mnemonic function often associated with a visual logo.

Audio logos have been around us for a long time. There are many projects and companies that already have an audio logo.

What are the benefits of creating an audio logo?

It gives a sound identity to the brand or company and allows for creating a bond with the consumer that goes beyond the visual identity.

It increases brand value, attracts more customers, and makes the brand present in the minds of customers in a sonic as well as visual way.

When we just listen to audio logos, we can know the brand name.

If we want to create an audio logo, we should meet the following conditions:

Audio logos should be short, not exceeding a few seconds, related to the brand and its culture and message, be able to attract attention, and be easy to remember.

The audio logo can be used on all social media platforms, forums, discord, radio, TV, and any other platforms.

Some examples of audio logos

https://www.youtube.com/watch?v=cHCHolypvTs

https://www.youtube.com/watch?v=-ihRPi4wcBY

https://www.youtube.com/watch?v=KMSnn2C3EAw

The idea presented for discussion

What do you think about creating an audio any crypto project logo?

How should it be, and what are the best ideas to implement it?

A contest could be announced for whoever comes up with the best idea for an audio logo for any crypto project.
It will be good promotion for any crypto project and should be advertised in many places.
The idea is not to find someone who wants to implement it.
But the request itself will attract the attention of many people.
People will wonder, "Who would make such a request?"

More information about the audio logo can be found at this link:

https://symposium.music.org/index.php/57/item/11341-what-defines-an-audio-logo-composition-and-meaning?__

Accounting and DAOs Organizations

There are several important points that should be taken into consideration related to accounting for DAO organizations.

Financial Reporting Standards (IFRS), International Accounting Standards (IAS), and Cryptocurrencies

Cryptocurrencies, NFT, and other concepts of the crypto world are new to the world.
maybe the theory and concepts known from long time but emergence of applications based on this concept just from few years

Bitcoin was registered as a domain, and the first version of the coin was released in January 2009.

With the emergence of cryptocurrency, a new form of money appeared that will change the world and the future, and this change can never be stopped.

However, there are many countries that still consider cryptocurrency illegal.
Because of this, when dealing with cryptocurrencies, this accountant faces many problems.

Cryptocurrency is something unique that has never existed before; it combines several qualities. It has the attributes of money, inventory, and investment, and sometimes, like stocks, when you own it, you have the right to vote in the companies that issue it.

and when looking at Financial Reporting Standards (IFRS) and International Accounting Standards (IAS), we didn’t find a standard for cryptocurrency until now, so when we look at this criteria

IAS 8: Accounting Policies, Changes in Accounting Estimates, and Errors
“In the absence of an IFRS standard that specifically applies to a transaction, other event, or condition, management uses its judgment in developing and applying an accounting policy that results in information that is relevant and reliable.” In making that judgment, management refers to the following sources in descending order:
the requirements and guidance in IFRS Standards dealing with similar and related issues; and
the definitions, recognition criteria, and measurement concepts for assets, liabilities, income, and expenses in the conceptual framework

This means that there is room for multiple opinions as long as they don’t break the standards. The topic is complicated, and there are many opinions, but here I will summarize it.

Most opinions say that cryptocurrencies should not be considered money.
Some opinions say to consider it an inventory. Therefore, it is under the criteria of inventory (IAS 2), but most of the opinions consider it to be intangible assets. Therefore, under the criteria for intangible assets (IAS 38), there are also other opinions.
and the matter is not completely specified because there is no specific standard for dealing with cryptocurrencies.

What does the DAO want from the accounting department?

1.Preparation of financial reports for DAO: It wants financial reports Periodically, maybe every week, month, quarterly, or year

2.They also want to be next to the specialized financial reports—another version of them.
which is simplified and easy to understand for everyone; not all DAO members are specialists in accounting and understand accounting terminology.

3.The accounting department should be patient, have high communication capabilities, and have a great ability to simplify information because there will certainly be many discussions and inquiries.

4.In DAO’s view, the accounting department is responsible for financial transparency and the accuracy and validity of financial transactions, is fulfilling the rules, conditions, and interests of DAO, and reports anything that violates the interests or laws of the organization from a financial point of view.
In fact, this task is subject to many discussions because, for the accounting department to perform this task and be worthy of the organization’s trust, it requires some degree of independence that allows it to do that.

5.DAO does not want numbers and reports that they do not understand their meaning but wants them to be accompanied by an explanation and simplification that explains exactly what the numbers mean, along with a description of financial problems and proposed solutions.

Accounting department with cryptocurrency tools

There are many tools that we need to deal with.
1.Cryptocurrency wallets
There are many types, and choosing the appropriate wallet depends on several factors, such as what cryptocurrencies we own and which blockchain network it works on. Examples of crypto wallets include Metamask, Trust Wallet, Exodus, and many other wallets. There are also cold wallets like Ledger: Hardware Wallet, and there are other types of cold wallets.

2. Of the different types of blockchain networks, the most famous is Ethereum.
There are other types, such as Solana, Polygon, Binance Smart Chain, and others.

3. Blockchain browsers like etherscan-io, bscscan, explorer.solana, polygonscan, and others

4. Centralized cryptocurrency exchanges like Binance, KuCoin, Gate-io, and others

5. Decentralized cryptocurrency exchanges like Uniswap, Sushiswap, Pancakeswap, and others

6. Websites like CoinMarketCap, CoinGecko, DappRadar, and others

7. Platforms for dealing with taxes in the area of cryptocurrency and digital assets
like TaxBit, Koinly, CoinTracker, and other
There are also accounting programs specialized in the field of crypto, like SoftLedger, Crypto, Cryptoworth, and others, but they may not be useful.

8. Decentralized insurance such as InsurAce Protocol, Nexus Mutual, Opium Insurance, and Unslashed Finance
This is if the organization wants to insure the risks of smart contracts or any other risks.

If the organization invests part of its cryptocurrency, it may use the following tools:

9.If the DAO deals with NFT, for example, and invests part of its money in NFT, it will need to deal with websites such as OpenSea and Rarible. In fact, the field of NFT is a very diverse one, and there are many NFT sites, some of which specialize in certain types of NFT.

10.compound.finance, yearn.finance

In fact, there are a lot of tools for investing in cryptocurrencies in futures , lending, Staking and many other things it has a wide variety of tools it need multiple separate topics explaining the options available for cryptocurrency investment it would be hard to mention all of this here

I think that these are the basic tools that the accounting department deals with in the field of cryptography. There are many other tools, but these are the main ones.

One of the biggest problems facing the accounting department in dealing with the field of blockchain is the need for automation and making the accounting process and data collection doable in an automated manner.

So we need to use tools to do that if we do not find tools that are able to implement it as we want, so we build software tools that help us in the automation process.

We should have a background in web scraping and APIs.

DAO Treasury Management Insights

DAO Treasury Management Insights

DAO Treasury Management is an important topic, but I will talk about this topic in general.
What is the best system for managing it?

There is no definitive answer to this because it varies from one organization to another.

There are many points and questions we should think about before building any treasury management system for any DAO.

In fact, building a system and policy for treasury management is completely different from one organization to another. It does not have a fixed form but is determined according to the different goals and circumstances of each organization.

But by thinking about and answering the following points, the correct system for treasury management can be drawn.

Risks and Questions

1.The cryptocurrency market is sometimes not fixed, which means that the price of cryptocurrencies is not stable, whether it is the native token or any other tokens that may be in the treasury.

2.Inflation and depreciation of major currencies such as the dollar and the euro, even stable coins, are not currently secured.

3.The current global economic crises affect all markets and industries, not just the crypto industry.

4.The Treasury can be hacked through any security weak point.

5.Losing access to the Treasury is a low probability, but it can happen.

6.A multiple signature system should be used so that not only one person can control the Treasury individually.

7.Will DAO leave cryptocurrencies in the Treasury without any investment?
or part of it will be invested?

8.Will we look for a completely safe investment only, or will there be a part that can be invested in things that have higher profits and risks?

9.Is it possible to invest in NFT? or in currencies and tokens for other promising and emerging crypto projects?

10.Is there an intention to buy large quantities of a cryptocurrency for another project?
to control this project, control the decisions in it, and make this project integrate with or serve the original project?

11.Holding native tokens in the treasury is logical, but should only native tokens be held? or does the Treasury need to diversify?

-DAO needs stablecoins (DAI, USDC, etc.) for operating expenses.

Native tokens may drop suddenly at some times, especially during crises.

Diversifying the treasury may save the organization from decline, help it correct the situation, and make native tokens protected.

Keeping stablecoins and cryptocurrencies such as Ethereum and Bitcoin in the Treasury can be a good thing.

-ETH is until now so important to crypto and to the future of the crypto industry.

-BTC is, until now, the most important and most famous in the crypto industry, and it is also an industry indicator.

Most of the stablecoins are linked to the US dollar, although there is always the possibility that it will decrease or disappear. It is not completely safe, but it is a good guarantee.

Therefore, the best distribution is between native tokens as a base and adding them to the Treasury with Ethereum, Bitcoin, and stable currencies, and adding other cryptocurrencies and another part to promising cryptocurrencies. In my opinion, the diversification may be useful.

11.Is it better to keep high liquidity? or invest the cryptocurrencies in the treasury and keep only the necessary liquidity to meet the operational expenses?

What is the amount of liquidity that should be maintained?

12.Is there an intention to try to raise the value of the native token?
or the intention to maintain its current price? or is there a desire to reduce it?

13.Is there a desire to increase the demand for buying the native token?

14.Is there a desire to rationalize spending so that cryptocurrencies are injected into other investments? or develop existing products?

Treasury management is certainly influenced by management objectives.

The answers to the previous points are never the same, and policies differ from one organization to another. The answers determine the way to manage the treasury.

Let’s see different models.
I got the data from the following website: https://openorgs.info/

We can see some models.

In this model, the Treasury has no diversity but contains only native tokens or a few cryptocurrencies.

Other models of diversification exist, and in a different way, in some organizations,
the treasury contains multiple cryptocurrencies with a good variety, native tokens, stable coins with Ethereum, and other currencies.

In my opinion, the second system is better; perhaps it is not suitable for everyone, but from my point of view, it may be safer.

The topic is for discussion, and I hope community members will contribute their opinions in the comments.

Building a financial and accounting system for DAO

 Building a financial and accounting system for DAO

In fact, most crypto projects, even the large ones, do not have any financial or accounting systems and do not make any financial plans.

But I believe that building a financial and accounting system and a financial plan are essential and important.

The system should be able to produce financial statements and financial plans regularly and present them to the community for discussion and auditing.

It gives confidence in the crypto project and makes the position of the crypto project stronger in front of investors.

It makes a big difference when you try to communicate with an investor and try to convince him to invest in your project and you do not have any financial statements or any financial plans.
It will be easier if you provide him with reliable financial statements and if he sees a realistic financial plan.

This achieves the rules of transparency and control and makes the investor more interested in investing in a project that has an integrated financial system.

In many forums of decentralized organizations, this topic is always discussed and often demanded by many members of the community.

Also, building a financial and accounting system that helps in developing a comprehensive strategic plan

This system should be able to perform the following tasks:

Part 1: Financial Accounting

1.Preparing basic financial statements: balance sheet, income statement (profit and loss), and cash flow statement

2.Organizing and building a chart of accounts for crypto project

3.General ledger accounts

4.Organizing all accounts of external and internal parties dealing with crypto project

5.Organizing revenue, expense, and treasury accounts

6.Organizing accounts of fixed and current assets, short-term and long-term liabilities

7.Trial balance, accounts receivable, and accounts payable

8.Able to provide detailed, clear, and simple reports about ox activity for community discussion, especially expense and revenue reports.

9.Ability to build financial statements and the accounting system in accordance with international accounting standards

10.crypto project should build an accounting system capable of dealing with different taxes, laws, and financial regulations.

11.Building a cloud system to store all financial documents related to the transactions of crypto project. There is no accounting system without organized and preserved documents.
that prove all financial transactions

12.Follow crypto project dues and obligations and set a schedule for collection and payment.

13.Developing and preparing financial regulations and laws that regulate and control any expenses or money paid from the crypto project treasury (with the help and supervision of the crypto project community)

Part 2: Forecasts and Budgets

Always begin by preparing a revenue budget.
Prepare it based on expectations for revenue or on planned goals.

For example, in the current period, we want to achieve greater revenues.
Based on a realistic plan, you prepare a budget, including the numbers we want to achieve.

Based on this budget, we prepare the operating budget and the rest of the budgets. It may be fixed or flexible.

Now we have the expected numbers.

At the end of each period, we calculate the difference between what was expected and what actually happened, find the variance, analyze it, and find out why it happened.

for example

We expected to spend $10,000 on a particular item, but we spent virtually $11,000.

What is the reason for spending $1,000 more than the budget?

It may be a normal cause, like a price change, or maybe for another reason you should check, and it’s all written in a report.

The accounting system periodically prepares a report showing the variance between actual numbers and budget, explaining the reasons for it, and discussing it with the crypto project community.

These discussions improve the way we prepare for the budget in the following period.
and in this way it achieves community control and effectiveness in the optimal use of financial resources.

It also helps in converting crypto project plans into realistic financial plans, proper planning, and increasing confidence in the management of crypto project.

Capital budget

Developing a new product or adding parts to an existing product may be a complex matter that requires a lot of money, time, and effort. It is considered an asset owned by crypto project, so it may need to build a capital budget for it.

Part 3: Financial analysis and financial models

Financial and accounting systems should be able to perform vertical and horizontal financial analysis and extract

1.Liquidity Ratios 2.Activity Ratios 3.Profitability Ratios 4.Leverage Ratios 5.Market Ratios

able to build financial models that serve crypto project goals

Analysis of financial ratios and horizontal and vertical comparisons of the statements and financial reports give a better idea of the strengths or weaknesses in crypto project and
give ideas about possibilities of development and give the management better ideas.
about the situation in crypto project and how to move forward.

Also, doing a financial analysis of competitors for crypto project (if possible) and comparing crypto project’s ratios with others in the same activity gives an idea of whether crypto project’s performance is optimal or if there are things that need correction.

Financial analysis is very important and should be done regularly.

Part 4: Cost Accounting System and Opportunity Cost

crypto project is an ambitious company that is always striving to develop existing products and
In the future, maybe build new products.

It also has a desire to expand and include new members of the team.
All of this needs a strong costing system that regulates the process of calculating
the costs of implementing crypto project ideas

also be able to calculate the opportunity cost.

For example, if we have a great idea, it will cost $10,000.
and will generate revenue of $15,000, should we implement it or not?

It depends on alternative opportunities. Perhaps there are other ideas that also cost $10,000, but revenues will reach $20,000, so this will be better than the first.

crypto project should have a system for calculating opportunity cost, which helps in making decisions.

Part 5: Accounting Audit System

Always check all numbers, whether expenses and revenues, with original documents, verifying the correctness of all financial operations and integrity, and make sure that there is no manipulation, fraud, error, or misuse of funds, either intentionally or unintentionally.

and that any financial decision is the best and achieves the interests of crypto project; constantly stocking financial documents of crypto project in a way that can be easily viewed at any time; and verifying the validity of the declared financial statements.

and immediately reveal any financial transaction that is suspected to be against the interests of the crypto project community.

The financial and accounting systems should monitor the use of funds.

Part 6: Managing Treasury, Financial Resources, and Token Control

The financial and accounting systems should develop a plan for the optimal use of the crypto project Treasury and divide it in a way that achieves the maximum benefit for crypto project and reduces financial risks to a minimum.

crypto project’s financial resources should be managed only according to the will of the crypto project community.

The price of tokens is attempted to be controlled by raising or lowering it according to the financial plan and the goals to be achieved.

Part 7: Financial Risks and Financial Opportunities

The financial and accounting systems should constantly

Write reports about potential financial risks and opportunities and develop plans to deal with both of them.

and present them to the community to think about the best solutions.

Also, if there is a financial shortage, make plans to cover it.

Part 8: Attracting more funding and investment

The financial system should make plans on how to attract more funding and investments to develop crypto project.

Provided that these plans do not affect the independence of crypto project or create dangers or problems for crypto project,
The priority is for the independence of crypto project and to always be safe.

These are only broad lines, and the subject is open to discussion.

I hope that the community will interact to lay the foundation for building an accounting and financial system that achieves transparency and integrity.

and be able to prevent any financial risks from crypto project, which helps the management.
in setting a development plan and increasing confidence in the management of crypto project

So building an integrated accounting and financial system is not difficult.
All of the above can be achieved without much effort.

I hope the community will share its opinion in the comments.

I hope in the end we can build the broad lines for the establishment of a financial and accounting system for crypto project.

Why is it not easy to find developers who can create decentralized applications?

The important point here is why it is difficult to find programmers interested in building decentralized applications.

In fact, this challenge faces most of the blockchain networks and also many other crypto projects that decentralized applications may rely on for some operations, such as Chainlink, The Graph, and many other projects.

The value of any blockchain network is determined by many factors, the most important of which is the number of decentralized projects that depend on it.

The Ethereum network, for example, is not the best and has many problems. There are better blockchain networks than Ethereum.

But Ethereum has a great deal of value because there are many decentralized applications that depend on it.

So the question now is: how can we find developers who want to build their decentralized applications ?

To answer this question, let us first try to see things from another perspective

Now, for example, there is a programmer, investor, or any other person who is interested in the field of blockchain and wants to launch a decentralized application.

What problems will he face?

Educational resources are not enough
1.There is a very strong crypto community, but this community is only interested in investing in cryptocurrencies.

Anyone can find hundreds of YouTube channels, hundreds of blogs, hundreds of communities, and hundreds of websites offering advice and explanations about investing in cryptocurrency.

But when you start searching for YouTube channels, blogs, or any other sources that help you with how to write code,build decentralized programs, and write smart contracts

You will not find much. You will find the matter very mysterious, and there are not enough sources available.

Perhaps on a well-known network like Ethereum, you will find some educational resources, and it is a little easier, but if you want to build on any other network, you will find it very difficult.

Educational resources related to building on the blockchain are not enough

Security
2. When you start building a decentralized application,
There is a big problem you will face, which is how to make sure that your application is secure and cannot be hacked.

if you want your smart contracts audited by well-known companies that specialize in this in order to give you certificates that your smart contracts have been reviewed and audited and increase user confidence in your application.

You will find this very expensive.

It also does not mean, in the end, that your application is secure.
There are security problems that can come from the rest of the code and not from the smart contracts, from the blockchain network, from the programming languages used, or even from problems in the audited smart contracts that were not detected.

Security in decentralized applications is a very important and dangerous point.
Perhaps if you can’t provide strong security, you won’t launch your application and cancel the idea.
No one will launch an app and users will be stolen because of it.
It may not be important in other applications.

Decentralized Autonomous Organization (DAO)
3. If your application is going to be managed by a decentralized autonomous organization (DAO),
this is a strange thing for many that they cannot understand.
Managing a decentralized organization is not easy because it is a new form of management in the world.

Most people understand centralized management but do not know how to deal with a decentralized organization.

Finding good ideas that can succeed
4.Finding good, integrated, and successful ideas in the field of crypto is not easy. There are thousands of projects in the world of crypto.
Finding a good idea requires an expert who is constantly researching the world of crypto, has experience, and can judge things.
For a programmer, he is probably good at writing code. Finding a good idea is something else.

Legal form
5.In many countries around the world, crypto is not legal.
There are large companies working in the field of crypto, and their licenses are in countries
such as the Cayman Islands, the British Virgin Islands, Singapore, Dubai, and Estonia.

Although the team is in other countries, this is because it wants to avoid legal problems.
This is considered a great challenge for those who want to enter the field of crypto.
Perhaps he is in a country where crypto is illegal. How can he then complete his papers to launch his startup?

Team building
6.Now there is, for example, a talented programmer who may have experience building centralized applications and wants to start his project in the field of crypto.

Is he able to do it alone?

He needs co-founders with the same interests, but where can he find them?
There are no effective crypto communities trying to facilitate collaboration between
those interested in building decentralized applications

These are the main problems facing any programmer who thinks of building a decentralized application and may make him cancel the idea.

Now

If the goal of the crypto project is to find talented teams that already have solutions to these problems,
and have overcome them, specialize in blockchain, and are interested in building decentralized applications on the crypto project.

I think this is not easy to find.

They will be interested in building on other networks that are more popular.

What will motivate them to build on a network that is not so popular?

In general, funding encouragement programs may be a good idea, but it is not, in my opinion, capable of achieving great results.

The NEAR Blockchain, for example, has an incentive funding program.
and there are hundreds of people interested in obtaining it and building applications on the NEAR.

This can be easily checked through their forum. By examining most of these projects,
You will find that most of them are projects that do not add any value to the blockchain.

Only a few of them are good, but the rest are a waste of time and money.

So, from my point of view, our goal should be ordinary developers who have had previous problems.

If we analyze the previous problems, we may find that their solutions are easy and not difficult, and they do not cost money.

It can be provided in a decentralized manner

Any crypto project can be transformed into an attractive environment for developers.
in which they can find what they do not find anywhere else.

Interest in providing educational resources on YouTube, GitHub, and other sites that explain in detail how to build decentralized applications on this crypto project

Create groups on Discode, Facebook, and Telegran that bring together developers interested in building on crypto project and trying to form teams from them.

Legal solutions, how to build a decentralized organization, and how to manage it

All of this can be explained and made into a PDF file available for download for anyone interested in building on crypto project.

We have experience and are able to prepare a list containing
all the good ideas in the field of crypto that can achieve success and be related to crypto project.

Establishing a security audit department at reasonable prices to audit projects based on crypto project

Start promoting crypto project as the best place for the following reasons:
We provide educational resources on how to build your own decentralized application.
We have a community interested in introducing developers to each other and building teams of them.
We have thoughtful and ready-made ideas that you can start building directly.
We have a security audit department at a reasonable cost.
We have technical, administrative, and programming support provided by the programmers’ communities that we have built.
We have a financial program to encourage you to build on crypto project.

For the previous reasons, anyone can build a decentralized application, even if he is alone and does not have experience or money.

Promoting such a concept would quickly make crypto project popular.

All these services will be provided in a decentralized manner.

We will transform crypto project into a place capable of containing anyone who is passionate about building a blockchain application and helping him achieve his goal, even if he does not have anything. It is enough for him to have the desire and enthusiasm.

Promoting this concept would make crypto project different and interesting to many. It will be like dreamland.

The question here is: is the above enough?

In fact, it is not enough, but it is certainly a good step in the right direction.

We will not wait for programmers or teams to come to us to build on crypto project.

We will have plans to build teams from scratch to build applications on crypto project.

We will find talented programmers capable of achieving our goals and build teams from them, all of this without any financial cost.

How can we build teams of programmers without incurring financial costs?

I will explain that in another post.

I am open to communication and comments.