The Veres One Network Fees and Funding
In order to ensure that critical participants in the the Veres One Network are properly funded, the Veres One Project via Accelerators, collect fees from customers by providing value-added services.
The following is a list of fees that are expected to be collected by Accelerators on behalf of the Veres One Project:
|DID Document creation
|DID Document update
|3% of price charged to customer
The fees that are collected by the Veres One Project are then disbursed to organizations based on an annual disbursement profile approved by the Board of Governors. The current disbursement profile is shown below:
*In order to prevent overcompensation of the Founder, the compensation is capped to $25M USD per year in the event that the revenue of the Network exceeds $500M per year.
Funds distribution rate are determined on an annual basis and set by the Board of Governors. Rates are set based on network needs or previous agreements. The complete set of entities that receive funding from Veres One Project revenue are ordered below from most compensated to least compensated:
- Network Nodes - Network Nodes are compensated for participating in the consensus process. There are two types of participation; regular nodes, and elector nodes. Elector nodes are compensated more than regular nodes because of the greater importance of their role in the Network.
- Maintainer - The Maintainer, currently Blockchain Architectural Services, is funded to maintain the Veres One Software and ensure the proper technical operation of the Network.
- Veres One Project - The Veres One Project is funded to support the Board of Governors in governing the Veres One Network. This includes all aspects of supporting communities that positively contribute to the Veres One Mission, legal obligations, travel and lodging, and investments in promising new technologies that would further enable the Veres One Mission.
- Open Source and Standards - Since the Veres One Network depends on the availability of non-discriminatory patent-free and royalty-free standards, and because royalty-free licenses are a critical component of any public network, a significant portion of Network revenue is set aside for projects that fall into this category.
- Founder - Digital Bazaar is compensated for developing and releasing all of the core technology, governance, trademarks, and launching the Network.