SeedBomb is a community driven initiative in which Community Members have a high degree of control and a big say. Our Community Members have the option to recommend groups who should benefit from SeedBomb funds and vote on how funding is distributed. This works by:
the Committee sharing a "pro forma" on our social media and website setting out the details for which types of groups the Community Members may nominate in this funding round;
any Community Members who wish to participate, completing the "pro forma" and returning it to us;
the Committee reviewing applications to check that the groups recommended are legitimate; and
the Committee sharing the shortlist of groups for Community Members to vote on.
Don't worry, each shortlisted group will receive something - the funds will be allocated proportional to votes received! We will also aim to "recycle" the Seeds allocated for funding green projects by running NFT auctions (the Committee will make NFTs with 100% of the profit being paid back into the SeedBomb Fund), selling merchandise and partnering with marketing partners who wish to advertise with us.
We also have the SeedBank. This our educational resource which will be open to everyone to use. Any aspiring writers who wish to produce articles on green topics should get in touch with us to enquire as to the next steps. Each writer will receive Seeds in exchange for us being allowed to list their article on the SeedBank and our social media pages.
If this sounds appealing to you, you can find out more about being a Community Member through the "Get Involved" tab.
Our SeedBank - Using NFTs for Online Articles
The SeedBank is our open access repository of articles. The SeedBank provides a great opportunity for anyone interested in developing their reputation as a writer to be able to produce articles while gaining exposure and publicity. The accessibility of the SeedBank also helps those without funding or the licenses required to access high quality research materials for free. Unlike many other resources which require you to purchase memberships or have institutional access, we are not behind a pay wall. This will help to remove a barrier to education which we feel is unfair.
For those articles which are owned by SeedBomb, we have chosen to mint them as an NFT. We have done this for the following reasons:
Proof of Ownership - We can prove online ownership of the original asset. This means that when we build up a reserve of them, they will derive their own value as an asset, which can then be sold on, leveraged for advertising or, hopefully when banks allow it, used as collateral to borrow against.
Copyright - Each of the NFT articles we buy or create will have the confirmation that they carry “copyright” as part of their attached notes. This enables the owner as well as any prospective purchaser to have the comfort that they can prove NFT ownership as well as copyright ownership together, in one place. This adds long term value to the asset.
Transparency - Our Community Members can see which articles we own by searching them on their favourite NFT provider on Algorand. If you’d like to see the articles as NFTs, you can see them there.
Author Royalties - Many authors do not earn royalties when their online materials are sold and often their articles will be used for free. We feel this is unfair so for any authors who are not Committee Members, they will also receive royalties on a resale of the NFT to recognise the effort that they have put in. By using an NFT that is smart contract backed, we can make this process trustless and remove the need for the original author to enforce their rights expensively in a court. We have not included royalty payments on our Committee NFT articles because we have control over the first sale and can choose to add them at that stage, if it is in the best interests of our community.
SeedBomb ASA Limited is a UK limited company. This will enable the key initiatives to be executed in a way that provides transparency to Community Members, allows for legally binding contracts to be entered into with recipients of the Seeds for environmentally focused projects and formalises the roles and rewards of the Committee members.
SeedBomb Seeds are ASAs. This means that they are assets which have been minted on the Algorand blockchain. More information on why we chose Algorand can be found in the White Paper in the section “Why We Are Right For Algorand And Algorand Is Right For Us”.
We have sought to give as much control to our community as possible. Our tokenomics ensures that a large percentage of the available supply of Seeds is reserved for community engagement or has been made available to our Community Members directly.
Community Rewards Pool
Airdrops and Staking Seeds
The SeedBomb Fund, Management Fund, Community Rewards Pool and Committee Wallet are administered by SeedBomb ASA Limited. This provides the security of a limited company structure whilst also having the transparency of being able to look up any transactions made out of them directly on the Algorand blockchain.
For more information on how this process works, please check our White Paper.
Our Bespoke Wallet Structure
We have created a bespoke wallet structure so that we can ensure that we are able to meet our goals. This will allow us to make capital available to environmentally focused projects that our community believes in. It will also enable us to further build out the SeedBomb brand and the technical capabilities of the committee, which, in turn should help build our community and make even more of a difference! The chart below gives a quick overview of the wallet functions.
A qualified lawyer with a background in finance law. He has worked for two bulge bracket banks and a top 20 UK law firm. His role has been to help marry the decentralised nature of token holding with the centralised quality assurances to meet the Giving Process through creating a sophisticated governance structure. He has also helped to determine how to create the Wallet structure and ringfence Seeds to ensure they are able to be used for the Green Causes. He also coded the SeedBomb asset. His ongoing role will involve oversight and management of the Processes, negotiating contracts with Donees and Grantees and advising on the technical governance structure of SeedBomb.
The director of his own food business with a background in marketing. He has been responsible for helping to build the current brand of SeedBomb, including the logo, the website and the social media pages. His role on the Committee will include ensuring that we have effective marketing in place to communicate our brand in a way that garners trust and growth and building out large scale marketing projects if this becomes possible.
A Bachelor’s and Master’s degree graduate in Biological and Earth Sciences, and is currently an Earth Sciences PhD candidate on track to obtain their doctorate in early 2023. They have contributed to the conceptual development of the SeedBomb project. Their role on the Committee will be heading up the review of articles submitted for the SeedBank, curation of the SeedBank resources on Green Topics, and research on the authenticity and feasibility of proposed Green Causes.
Has a background in finance law, with particular expertise in cross-border lending and fund financing. He has worked for a top 20 UK law firm, a FTSE 100 company and a major U.S. law firm. His role on the Committee will focus on due diligence on prospective Donees and Grantees, negotiating contracts, advising on SeedBomb’s technical governance and ensuring the smooth transmission of Seeds from SeedBomb to Donees and Grantees.
A lead engineer in the marine renewables market, focusing on the certification and technical governance of new product implementation. He has worked for governmental and private bodies on large scale research and development projects. His role on the Committee will be to analyse and review the viability of Green Causes from a technical and engineering perspective to ensure that Donations and Grants are more likely to provide effective capital for successful projects.
To show that blockchains can be a force for environmental good. We do this by using a carbon negative blockchain (Algorand) and then ensuring that funds are paid to environmentally focused groups. You can see more on Algorand's sustainability promise here.
To synthesise proven legal and financial approaches with the capabilities of the Algorand blockchain to generate capital which can be made available for environmentally focused projects.
To democratise the process of giving grants and donations to environmentally focused projects so that ordinary people get a genuine opportunity to make a difference. We do this by giving our members the power to recommend environmentally focused groups which they would like our community to support and then holding a final vote on which ones are funded. We have ringfenced a proportion of the total circulating supply to make this possible.
To create a bank of useful and educational materials which cover green topics and are available to the general public for free (see the SeedBank tab).
To bring more people to the Algorand network so that they too can enjoy a blockchain that is carbon negative and has very low transaction fees.
Our Initial Funding and Next Steps
To gather support for SeedBomb, we initially marketed the idea to people with an interest in the environment, sustainability and taking environmental action. This means that we secured a good base of supporters who have provided a good amount of liquidity, in turn stabilising the trading of Seeds. This has made it less risky for new Community Members to come and join us.
We have since worked hard to gain exposure in the crypto community. To build trust we have locked a substantial amount of our liquidity in for at least two years. You can view this by searching for the SeedBomb Asset ID (523605642) on Tinylock.org. We hope that this will show that we are serious and can be trusted. We are currently waiting to receive verification from Algoexplorer and Algorand Inc., though we have started these processes.
If you are interested in seeing updates on the price of SeedBomb, you can check here.