The KULA Community Fund: deposit or delegate, and what each one does

The KULA Community Fund is a pooled fund on MELEK run by the account @kula, open at https://melek.salon/kula. It works more like a credit union than a vote-selling service: members put MELEK in, the pooled power curates for the fund, and members are paid back mostly in KULA-program tokens and airdrops (starting with SOULAVA), plus a small MELEK reward. There are two buttons on the page and they do very different things. Delegate A delegation lends your MELEK Power to @kula. You still own it. - To stop, delegate 0. On MELEK, returned power takes five days before you can use it again. - Delegating again replaces your previous amount. Enter the new total, not an extra amount. This is the mistake people make most. - Delegated power is what the fund curates with. Deposit A deposit sends MELEK into the fund's own balance. Unlike a delegation, a deposit belongs to the fund. Deposits are how the members build the fund's own power over time. The rules for rewards and exits are posted on the fund page before rewards start, so read them before you deposit. How you sign Both buttons send you to MELEK-Signer, which asks for your MELEK password and approves only that one action. The fund page never sees the password or keys. Checking the books The members table is read straight from the chain. Every deposit and delegation to @kula is a public operation, so anyone can check the fund against a block explorer or the API. How it differs from Tomoyan or UPVU: those services take delegations, vote for the delegators, keep a fee and return most of the rewards. Here, members also deposit, so the fund grows with its members, and rewards are mostly other tokens. Wiki: https://wiki.soapbox.community/wiki/KULA_Community_Fund