The Checkmate Treasury is a dynamic pool that grows with every trade and treasury drop.
This pool is allocated to prize pools, events, community initiatives, scholarships and community grants.
Vote on community events and initiatives, future product improvements and community spend.
We're committed to Fair play and ensuring players get a Fair go.
We ensure the players are represented from the get go with a Players and Queens Council.
50% of Alpha Packs sales and market place trading fees are allocated to the Community Treasury.
We are committed to accelerating online speed chess as an esport. The Checkmate Treasury, along with its attached prize pool, is a dynamic fund that grows with every trade and treasury drop. Alphas participating in the Alpha sale, as well as players who trade, contribute to the Treasury.
Embracing the spirit of sports governance and web3 principles, Checkmate has established a co-governance model for the Community Treasury. This model is designed to be fair, transparent, and geared towards sustainable growth. A portion of Checkmate's revenues is allocated to support initiatives and nurture the Checkmate community.
The concept behind the community treasury is inspired by the web3 ethos and our previous experience in community fundraising, pay-per-view, sports, and sports governance. The beneficiaries and stakeholders are the players in our community and the broader player ecosystem. We recognize that not all players have equal access to opportunities and representation, often influenced by factors like gender, resources, or geographic location.
The Community Treasury aims to level the playing field by increasing opportunities for earnings, allowing players to influence its direction, and supporting the development of promising talent.
The Community Treasury has 4 pools:
Event Fund, Marketing and Prize Pool
Scholarships, sponsorships, grants and bounties
Ai, Anti-cheat, Broadcast and Platform R&D
Admin, Community helpers and integrity team
The Community Treasury receives:
The initial funding of the community treasury will be funded by the Alpha Pack Sale.
Post platform launch the community treasury will receive the following:
A Community Investment Charter will be developed in conjunction with the community. In addition to regular updates, an Annual Community report will be made available.The community treasury pool total and wallet subtotals and any third-party PFP collections held will be available on the checkmate website and on-chain.
An overall % or amount of the funds will be retained within the community treasury for investment. This % or amount will be based on the final result of the First Mint in consultation with the community.
Checkmate has established a Community Treasury co-governance model on a voluntary basis. We do not represent it to be a DAO but an effort to lean in and provide the community with the opportunity for shared decision-making, participation and promote community led-initiatives. At the same time we need to ensure we can complete our mission by
managing operational risk.
Checkmate reserves the right to amend the terms of reference to ensure sustainability or unforeseen circumstance; eg change in regulations.
Initially, community management for Checkmate will be done through Discord, a popular communication platform for gamers. Post the Alpha Launch, third-party web3 management tools will be used.The Checkmate platform offers a fully integrated web2 [chat and video] feature in time we will implement internal voting tools.
This means that the community will be able to participate in decision-making processes regarding the development of the platform and community initiatives.
As part of its commitment to community and acceleration of chess as an esport we're establishing the Checkmate Player and Queens Council. Members of the Council will be elected by the Checkmate community prior to the first competitive season. We want to ensure that players interests are fairly represented and we're all moving forward together.
