Phase 1: Foundational Expenses and Sustainability - $5,000
To operate effectively, LibertyMined must have the financial resources to ensure web hosting is paid for and can be upgraded in the event of increased traffic and that reliable, consistent support can be provided to participating users and campaigns. At launch, the first hashes generated by users will fund these foundational expenses prior to any hashes being available to donate to other causes. Continuing expenses will be paid via a 5% fee on all donations. These funds will cover the following:
- Formation of Legal Entities
- Website Hosting Upgrades
- Operating and Development Funds
Phase 2: Foundational Expenses for Legislative Districts
To ensure LibertyMined has the maximum effect on the political process, the first donations users are allowed to make will be earmarked for foundational expenses for the legislative district of their choice. These expenses will initially include the following and be adjustable based on the size of the voting district:
- Campaign Voter Database and Website
- Legislative District or Locality Voter File
- Initial Printed Materials (Party Nominees Only)
- Business cards, palm cards, lapel stickers, bumper stickers
- Yard Signs - 10 signs for each voting precinct
Phase 3: Donations for Party Nominees
Once foundational expenses have been met for a specific legislative district, donations can then be earmarked for whichever individual wins the nomination of a specified political party. Users can change which districts their funds are earmarked for up to 3 days after the filing deadline for candidates seeking the nomination for political parties in Virginia. This gives donors a level of flexibility in committing resources based on the quality and quantity of candidates filing to run in a given year.
Phase 4: Donations to Specific Candidates
Once the filing deadlines have passed, donations will be open to any candidates, nominees of political parties or independents, in districts with foundational expenses covered. These donations will be remitted to the campaigns for use as they choose.