1. Seeking Guidance: Can a Layer 1 with BTC Alignment Find Support Here?
Category: Questions
Board     : Other > Beginners & Help

Hi sers,

I have been active in the crypto spaces since 2017. Started with contributing insignificant code to open source crypto projects (Golem, LBRY, etc the early ones), got some tokens as rewards, discovered markets, started investing and trading, spot/futures/options/ICOs - turned $100 to $100k, lost it all, survived two bear markets, launched a DeFi project that didn't go as I hoped in 2021.

Over past three years, I have developed and refined a layer 1 concept that I believe has the potential, because I have tried to structure it to real-world use cases as best I can, with sensible economics (potential revenue and revenue sources over token-powered economy), with quantum-security in mind (to future proof), and considered various user types (general users, enterprises, govt). I believe the platform I envision will solve significant friction points for the industry and the users I am targeting. I don't mean to exaggerate or claim this is the next big thing.

I am at a stage where I have:
1. Technical clarity/roadmap; and how all the pieces work together.
2. GTM strategy; how to onboard initial users/target market and expand offerings from there.
3. Brandingl; something that looks nice. Trad and boring, not hyped.
4. 5 year ecosystem plan
5. Potential dev team (committed to onboarding once I raise)

Due to my 2021 project’s failure, I stand cancelled in ETH and related DeFi communities.

That leaves three paths for me:
1. Bootstrap
2. Go legit (incubators, govt funding, etc.)
3. Change course (BTC alignment as primary over other ecosystems - the reason for this thread)

As for 1. It seems more fulfilling long term, but I fear the stuff I am trying to do, will be done by others with much larger resources, before I can ship, albeit in fragmented way compared to the unified structure I propose.
As for 2. I applied to a govt backed programme in a country that may provide govt funding and assistance. I have to take a particular action within 10 days to proceed, but I am not entirely sure.
As for 3. I was initially considering diluting the very-serious project into a very mystic memetic "leap of faith" ICO with memes being the current trend, and put it up on Eth or Solana, with a airdrop and a fair-sale running concurrently, but I don't think community would support. My next train of thought took me to the roots of ETH ICO which happened with BTC. And I wondered.

What is the potential possibility that BTC community might back something like what I envision, while knowing in general, the opinion is are altcoins are shitcoins? (My project can do without a token, but I am lost on how to raise funds without one, even if I create a token, the chain will remain token-free for at least transactions.) There is a possibility I can use newer built-on-BTC solutions to restructure how I envision the money flow in my platform.

Any inputs welcome, thanks! 

Great intro video guys, really like all the progress that's happening on this project! Will be following this closely.

Totally agree with you, people won't be pitching in unless there's something in it for them. Nobody likes to throw away their money!

Agreed. It's different for sure! Let's see if they can make it.

Guys, they have a nice bounty program going on. Join in their slack for opportunities to earn some roots!

I think this is one of the most community-engaging projects I have seen in recent while. Their bounty programs are fresh.

Good to have a refreshingly new perspective. Been tired of hearing how ICOs are simply scamming people.

We'll have to invest and wait to see the real life impact. Seems interesting, but how much it would actually impact poverty remains to be seen.

Awesome! So happy to see the goal being reached. This will motivate more welfare projects!

I definitely second this, but from the updated page it does seem like they are bringing on blockchain experts on the advisory team too. I think this project is the first in the direction they have chosen, I'm hoping to see more non-profit ICOs now that RootProject has completed their funding targets! It shows the community is receptive to do-good projects..

RootProject ICO seems to be going smoothly. Really excited to see what the real-world impact this project can potentially create! Guys, here we have something unlike traditional ICOs plus they are protected against US regulations. I'd say give it a try!

Seems like a very innovative product. I'm about to invest some. Although, the goal seems to big - but I think with all the ambiguous ICOs we've been pumping recently, this one deserves a chance! Good luck to the team!

I'm beginning to feel they disappeared with our money...