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I woke up this morning like it was Christmas! As usual, I would check my discord and I saw a message from my buddy @btcvenom saying that we've been approved by @jerrybanfield to receive fundings for our next step for PayWithSteem. I wasn't very clear about what had happened till I saw this.

Oops Sorry! I was too excited to even thank the people who made this happened. (Where are my manners?). Before I continue, I would like to thank @jerrybanfield for believing in PayWithSteem. We at PayWithSteem really really do appreciate what you've done for us. For giving us that glint of hope once again that this project can move on to greater heights.

Also not forgetting @btcvenom for always doing all the works behind the scenes and finding these amazing opportunities for the team. To @sam.hsuu who've also stuck with us through thick and thin churning out amazing writeups for PayWithSteem.

Now we can continue!

I head to our Fund proposal post which you can find here, and saw this down in the comment section below with an image attached to it. My face literally was :O

To make sure I wasn't dreaming, I head over to @btcvenom's account to check the funds received in his wallet.

@budgets is one of @jerrybanfield's account where he uses to fund the projects through his Steem Budget Proposal Program, which I will explain briefly about in this post.

Yeappp.... it's real. It's like pinching yourself when you thought you're in a dream.

What Next?

Right now that we have the funds in hand, we are already in discussion with a few developers on taking up this project. We are still looking for developers who interested, preferably someone who has experience working with Steem.Fingers crossed, we hope to get the site up within the next few months.

Now I would like to say this again, we wouldn't have gotten here so quickly without the help from @jerrybanfield's initiative. The Steem Budget Proposal.

Steem Budget Proposal

I will try to explain this awesome program started by @jerrybanfield in the simplest of methods possible, and if you're looking to startup a project of your own and need fundings, you can definitely check the Steem Budget Proposal. There are definitely some criterias to be met and if you're serious with your plans, you will have to come out with some kickass proposal for @jerrybanfield.

There are many other methods out there to fund your projects. Basically what PayWithSteem did initially was create fundraising posts every alternate days because we needed to reek up about $10,000 to develop our new site. Having a posts where you raised funds is one of the option you can use. We managed to raised around $3k+ from just our posts over the span of two months.

Fundings by Steem Budget Proposal

There are two ways to go about it. There is one option for BELOW '100 STEEM' Proposal & the second option for proposals ABOVE '100 STEEM'.

Earning from BELOW '100 STEEM' Budget Proposal

There is a detailed version under @jerrybanfield's post but I will just share the important stuff here. You can earn these funds by joining contests, submitting initial proposals, and writing posts all that adds value to Steemit.

Before you submit these posts, be sure to tag #promo-steem, #steemit, and #jerrybanfield because @jerrybanfield will be screening through these tags for valuable proposals. Once acknowledged, he will send a upvote bid to your post. Usually this funding is for initial ideas to help in the startup of a project.

Also, @jerrybanfield will browse these posts in the order of trending and with the most upvotes. Mainly because to see that the idea is receiving well by the community.

Earning from ABOVE '100 STEEM' Budget Proposal

Now there are several criterias that have to be met for this tier in order to properly submit a proposal up.

Earn a reputation of at least 58. If not, you can get someone to submit on your behalf. Honestly, this is a good standard to have because not many have reached above the 58 rep. Only those who are consistently producing quality contents will reach this. It also shows your commitment to the Steemit community that you've made it this far.
Start with the smallest amount of funding first. This is to show proven results over time that the community actually supports the project and would like to see the project benefiting Steemit as a whole. I would use PayWithSteem as an example. When PayWithSteem started, we used the most low-cost efficient way to start it up, which was Shopify. Creating the website was also done free. Only there was a small amount to be paid monthly for the service that *Shopify provides. Our Team at PayWithSteem had a vision to provide hassle-free transactions to the community of Steemit to shop. We didn't have the fundings then, but we still wanted to make it happen. Over the months, there is proof in our @paywithsteem posts and website that the Steemit community would DEFINITELY benefit from this project. That was when, we decided to take this to the next level and that comes with a bigger cost.
Pitching your project.Basically, you would want to pitch what your project can do for the Steemit community. What is the status of the project? The team behind the project. How much funds are needed and how will these funds be used?
Using the RIGHT Tags. #promo-steem, #steemit, #proposals, and #jerrybanfield. This will allow @jerrybanfield to easily search your proposal through the tags. Remember, it is also according to trending so you may want to use some bid bots to boost your visibility of the post. Shows commitment too!
Stay accountable. Reply to any feedbacks on the proposal posts. If the posts gets a significant amount of objections, the proposal will be rejected.
Engage with @budgets. @budgets will resteem projects that it has helped funded over the weeks. So do head on over and support these projects as well!

Where does the Budget Proposal funds come from?

@jerrybanfield has started his own bidbot about a few months ago. The bid bot @jerrybanfield requires a minimum of 1 STEEM/SBD and will upvote at every two and a half hours. From the profits earned from this bid bot, half of it will go to @budgets which is the main funding account that funds all projects under the Steem Budget Proposal.

Moving Forward

Moving forward from here, I hope for the best for PayWithSteem that we will be able to provide the service that we have always wanted to give the Steemit community. This achievement/milestone on receiving the support and funds has been a tremendous help and encouragement to us.

Imagine you have STEEM/SBD to spend. Imagine you can buy whatever you want with just paying with STEEM. This is what this amazing platform can do for us all! I can't wait to see what happens in the next 5 years. What will Steemit become with everyone adopting the STEEM Blockchain. Exciting times indeed!

Oh and before I sign off, here is @jerrybanfield's detailed post on the Steem Budget Proposal Program.