The NavCoin community fund was launched on Nov 16. NavCoin's community fund operates on "dual-vote consensus", with an initial vote to decide if a proposal is approved or not, and then a subsequent vote to determine whether the payout should be made (after the work is done). Voters are participants in NavCoin staking, and vote with the weight of their stake. The community fund receives 0.25 NAV from each block minted, 500K NAV per year, or around $93K at today's prices. Proposal voting lasts for one week and requires participation of 50% of stakers, with 70% approval required for acceptance.