The winners of the auctions for other languages have not been determined. To make sure translating the Idena app into the suggested languages for the price offered is a need recognized by the community, the Idena team suggests community-based co-funding (inspired by quadratic funding).

Community-based co-funding

Community should decide which proposed work should be funded and which amount of coins should be granted from the Idena foundation wallet. The more Idena validated members support the proposed work (even with small donations) the larger fund will be granted by the Idena foundation (see examples).

Community members vote for the proposed work (for example, app translation) with their donations. The Idena foundation co-funds the rest of the sum.

Total funding = Community donations + Idena foundation co-funding

The Idena foundation co-funding can not be more than 5 times the sum of the collected donations and should be calculated as follows:

R — Required fund for the proposed work discovered with auction bid price

n — Number of donors (Idena validated users)

d₁..n — Donations collected from donors

D = sum(dᵢ) — Community donations Idena foundation co-funding

F = min( sum(dᵢ ⁰·³³³³³³³)¹·⁶⁶⁶⁶⁶⁶⁶, R-D, 5×D) Total funding

F+D

You can find calculation examples of Idena co-funding here.

Community donations are accepted until the Total funding reaches the required funding (the minimum auction price for the work). At the same time, anyone can bid the lower price for the auction and do the work with the current fund. Then the auction and donations should be stopped.

Next steps in the app translation