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I don't know. Projects get funded all the time outside of Hive. I think it could work. I've had this idea for a while now but only published it recently. In that post I talk about one way the DHF might be able to support popular efforts at a lower level while most of the funds would be coming from other Hive users.
RE: How to Reduce Hive's Inflation Problem - Our New DHF Proposal Voting Criteria, HBD APR, and a Proposed Value Plan S.O.P