Sia Fund Questions



  • I'd like to know more about Sia Fund.

    How does one go about obtaining it? From limited information out there I understand that NXT asset exchange was used to distribute it. I never used NXT assets. Installed the wallet but not really sure what to do next.

    What is the mechanism by which SC gets distributed to Sia Fund holders? Is this integrated in the protocol or done periodically?

    Thanks


  • Global Moderator

    @aspect said:

    How does one go about obtaining it?

    Siafunds were distributed in a crowd-sale a while back to fund development. 10,000 Siafunds were issued in total, and about 1,000 were sold in the crowd-sale.

    You cannot buy Siafunds any longer, except from an existing Siafund holder. Only a few Siafunds are listed for sale occasionally in the Slack Trading channel or in the Siacoin Trading bitcointalk thread.

    What is the mechanism by which SC gets distributed to Sia Fund holders? Is this integrated in the protocol or done periodically?

    A 3.9% fee is paid to Siafund holders on the storage costs of each file contract.

    That fee is distributed equally among all 10,000 Siafunds.

    So, if you paid 100 SC in storage cost 3.9 Siacoins (from the 100) are distributed equally in shares of 3.9/10000 to each Siafund.


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