Decentralized Hive Fund (DHF): What it does and My Opinion

These days there is a fuzz around DFH both in terms of articles and posts here on Hive as well as in different discord groups around the Hive ecosystem. To tell you the truth i had never actually checked what was going on and what's this, just from time to time i may have supported 1-2 projects that believed in and i think that a lot of people here on Hive are actually doing the same or paying no attention at all.

According to the actual page, the DHF is basically the following:

The Decentralized Hive Fund (DHF) is an on-chain decentralized autonomous system that allows users to submit proposals for funding and vote on which proposals should be funded.

It's pretty self-explanatory i think. Also, take into account that there is a specific amount of HBD that can be used for funding per day so it's not infinite as you can imagine i think. Literally anyone can make a proposal and fees are close to nothing and then everyone can upvote/support any number of proposals.

If these proposals earn enough upvotes then funds will arrive. Ofc as i said above there is a daily limit of HBD that will be paid so if we surpass that then only the top upvoted proposals will get funded and that can literally change hourly. According to the official FAQ you can see below what determines of who gets paid as well:

Now note that not every vote is equal it's based on each person's Hive power so basically the lower your HP is the lower your "say" is. So far so good, (in a way), but below you can see some additional info as well that seems a bit worrying at least in my eyes:

I don't know about you but this is a bit wrong in a way. Ofc on the one hand the purpose or one of the purposes of Hive was decentralization but at the same time there should be some standards and rules to determine some things. Before i tell you what exactly i mean regarding this i want you to take into account the previous thing i mentioned which is that depending on your HP you have different kind of say.

In a way i agree i can see the point of that depending on the amount of money you have invested in Hive and i am ok with this but at the same time as i said there need to be certain rules that should apply to everyone. For example, let's say i have a lot of Hive Power and my friend decides to start a project here on Hive saying that he will do something specific and the cost will be 1000 HBD per day.

The problem here could be that 1) he may be overselling the project and his services and because i have the power i can support him easily and he will get the funding based on my power alone at the expense of all of you and Hive long-term. We can even share the profits for all i know. 2) Even if someone is not a friend and it's a random guy who "sells" something to us that seems good, even a whale can vote for him without actually understanding that his services and the project may be completely out of reality and misleading.

My point is that it's not that much of a matter of who votes what, because at the end of the day he/she may even get tricked. Ofc it's not cool to support someone while the whole ecosystem will "pay" this in the future but my point is that we should look somehow at the proposal itself and the people who propose their project.

Somehow the proposals anyone creates should be better monitored firstly at an early stage when it is submitted to check if it's close to reality in terms of actual contribution or money-wise. If for example, i that i live in Greece submit a proposal on something that for the time being i will work on it alone and include let's say 150-200 HBD per day as a salary which totals 4500-6000 per month while the average salary is 1000-1500 per month then something is definitely wrong.

At the same time each proposal except the fact that everything should be completely analyzed on how the funds will be used with exact costs and stuff, there also should be a roadmap or something to see their exact plans and more importantly How the project will bring value to Hive.

Honestly, it should work like an incubator with the sole purpose being to grow the Hive ecosystem and bring real value. The ways this should happen, the forecast, the marketing strategy everything should be in the initial submission. If we are to spend 10k-20k-50k or more to make let's say a badge for some members that do a simple action and add a high salary as well, something smells fishy and we are doomed.

We honestly have created such a great tool and i strongly believe based on the posts and comments i read and proposals i reviewed that we currently have people taking advantage of it. Shouldn't there be a third party or i don't know find a way to do some kind of restructure by focusing on 1) Ideas that will actually bring value to Hive and be transparent before submission along with a clear structure, roadmap, costs, forecasts and 2) some way to actually monitor these projects and when it's necessary cutting the funds?

Otherwise, this will only bring Hive's value further down and anyone who wants that and wants some profits at the expense of the whole ecosystem should already be "kicked out". Literally, this is like an actual investment. Bring a good idea with clear structure and transparency get initial funding to start your project or not if it's not good enough and doesn't bring value, if you pass have a third party monitoring you and let's review each year or per quarter, per 6 months, the progress and based on that renew the funding, partially cut it or completely cut it if it's not viable.

Literally, if i have a very big whale as a friend or i am very good at misleading people, i can create a project get funding, enjoy lots of profits, have a better life while destroying the ecosystem and continue it until either the funding or Hive is over and none can do anything to stop me, it's that crazy!

Of course, there are projects that actually help Hive, either by improving or maintaining the infrastructure, creating value bringing more people so don't get me wrong. Wherever money is involved though, greedy people lurk around. I believe we have people with expertise in finance, programming, marketing who can actually monitor the projects, ask the real questions and share their opinions and ways to improve by i don't know even a full "review in the form of a post!

If i said something that doesn't make sense or it's basically inaccurate let me know in the comments and i will correct it! Let's find some ways to make better use of these funds, monitor these projects and make Hive a better place for everyone, or simply let's destroy everything!

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