It would be great to share numbers about your validator.
According to @setten, you are making nearly 700k-1M$ per year with it.
How is this not enough?
4 Likes
As fellow developers, we have great regards for Pete and his team.
The educational content will be very helpful for developers on-boarding to terra ecosystem
1 Like
What educational content? All they do is literally retweet other peoples content? They donât provide anything original.
Who are your current staff and what are your current expenses? If the answers are reasonable, I can say yes to this proposal. Are any of your full-time staff developers?
This guy admitted in one of his recent videos that he doesnât understand slippage. Yet here he is, asking for close on half a million dollars to build a DeFi training course.
The page that you shared could have been put together by anyone for a few thousand dollars. They are asking for four hundred and forty thousand dollars.
Nobody is disputing that there is a need for training. The question we need to ask is are these the right people and should we be giving them $440,000. We know nothing about them. The guy currently presenting the youtube channel regularly admits he doesnât know that much about DeFi.
If weâre going to allocate half a million dollars to training, there are much better ways of doing that than giving it to a few unknown random people who started a (largely unsuccessful) YouTube channel. There is no need for these people to be involved at all. With that kind of budget you could go direct to professional training organisation, and get professional product created by professional trainers and writers.
Terra Bites have given no details of what the training course will look like. We know nothing of the curriculum. We know nothing about the qualifications of the people designing the course. They have repeatedly refused to give specific details about what they are going to do with the grant. Itâs just a money grab.
4 Likes
Well, it looks like this is going to pass and Iâm sure that Terra Bites will have their hands out again next year since this was successful. Personally, Iâm very disappointed with what Terra has become to let something like this even come to a vote.
Instead of pushing the extra funds to staking and other actual valid projects, Terra has gotten into bed with known scammers and have treated the whole blockchain as a slush fund. Iâve done very well with Terra financially but the writing is definitely on the wall and canât see this scheme really having a future.
2 Likes
I have the feeling that now that it looks like the vote will pass, there wonât be any clarification forthcoming from @TerraBites. They know that theyâve got the money so Iâm pretty sure itâs going to be radio silence until next year when they have their hands out again for retweeting other peoples contentâŚ
1 Like
Weâve been working on several communications, in fact, mostly around validator-related topics. But we donât feel we should spend too much time on armchair claims that an operation like this should cost less money, and that somehow all the details in such a cutting-edge field should be known months in advance.
Those who are in the know â actively contributing to development, infra, content, and education themselves â say it should cost more money:
If can be done well with less, feel free to do it for less. No one is trying this, to our knowledge. But we 100% applaud you if you do.
Some people havenât been reading our responses, and thus they think weâll be making another such proposal for 2023 
above comment for example.
But most in the community have seen these communications, heard our discussions on this proposal for months up until now, and/or seen our self-funded delivery so far. We screenshotted/saved links to comments/tweets for potential followup later in the year, too. Feel free to do the same.
Btw, Evanâs persona is humble bagel shop owner, and he uses this, which the community enjoys, to coax projects to explain themselves in laymanâs terms.
He understands slippage. And he does not have an actual bagel shop 
but he is a top-tier media and design professional.
Pete, on the other hand, has been a blockchain dev for years, and embraces that, resulting in a good veteran/layman duo feeling for joint episodes.
We understand that might be confusing to people who donât engage much. Noted!
We are asking you to clarify why you need to receive 400â000 UST to build what you proposed.
Your answer to those questions are:
- Someone on Twitter said we should ask for more.
- If it can be done with a lower amount, feel free to do it.
How does that answer our concerns?
3 Likes
Iâm a long term lurker and community participant and Iâm pretty shocked at the backlash here, to the point I felt compelled to sign up and reply. Even with the proposal looking likely to pass.
Terra Bites have been fundamental in building awareness of Terra and increasing community knowledge from very early on. Iâd wager their tenure in the space is longer than all skeptics in this thread combined. This isnât just some random duo off the street who have randomly rocked up to the community and asked for 400k. They are a trusted partner and have provided more value to the community than I can possibly recollect.
The issue with most on this thread seems to be with the allocation of funds and costing. My response would be, trust them. And maybe show a little more trust, humility and respect in general. If their content isnât for you, thatâs fine, but for a significant majority clearly find it engaging, valuable, worthwhile and enjoyable. Myself included. Indeed, the community have voted and the minority squawking on here clearly donât speak for the rest.
Pete, Evan, you do an amazing job and have done from day one. Massively excited for you to show us all what you can do with a heap of UST at your disposal.
No one has said that they speak for the community. Except for you that is. Like they say, itâs a free country, so, if you donât like it, youâre free to get stuffed. We brought up valid concerns, which werenât addressed.
And then you show up saying âtrust us broâ and somehow that should be sufficient. Wait, hang on, Sifu, is that you?
The people disrespecting others in this thread are the people asking for the grant, not the people asking questions about the allocation of community funds. TerraBites have consistently ignored reasonable, repeated requests from many members of the community to give details of how they are going to spend this money. Rather than answer, they have simply not participated. They have consistently thrown out both oblique and direct insults, including towards people who are successfully doing what they are failing to do. This in response to a comparison with Danku
Danku is not simply making videos about farming strategies. He is making informed, knowledgeable explainers at incredible rate. His interviews with key players are insightful and enjoyable He clearly has a deep understanding of the Terra DeFi space and he isnât asking for a studio, camera, lights and 40,000 dollars in expenses. Compare that toTerra Bites content which for months has consisted of rambling livestream interviews. Look at their viewing figures.
They have treated people posting questons in this thread with contempt. Most of the questions have simply been ignored. Look at the answer they gave when asked about their validator.
Does anyone believe that they donât know how much theyâre getting from their validator? When he wrote that he knew exactly how the validator was earning. And here he gives proof. He wrote this after a community member calculated the figures that he refused to provide.
He knew how much it is earning currently and how much it had earned in preceding months. Why did he not give that answer in the first place?
Your assertions about their value to community echo their own answers. You offer nothing to support your claims. Even if they were as they you say they are, the idea that we should just âtrust themâ and give them $400,000 is ludicrous and insulting to the community. Weâre not talking about 4k or even 40k, weâre talking 400k. They want 40k just for expenses (which they refuse to detail). I think youâve lost track of the value of real-world money. If you think this 400k is money well spent, please explain, in detail, what we will be getting for it. What exactly are we paying for?
We still have no idea what they will be doing with this money. The original proposal implies that it will be for new staff, but it is clear they intend to use it to pay themselves. Why, at this stage, is there a still a need for us to try guess what they are doing with the money?
Another major downside of this is that its going to encourage others to follow suit. People will see that despite the way they have conducted themselves in thread, these guys have walked away with half a million dollars. They did so without giving any detail of their own qualifications, what theyâre going to do with the grant, or what the community can expect to see for the money it has deposited in their wallet.
Itâs going to be open season for grant applications.
1 Like
He doesnât understand slippage and heâs just been given a grant of $440,000 of community funds to teach DeFi.
I agree, if monetizing youtube content subsidizes part of the community funds required to jump start terra bites then I think it would make most sense to enable monetization on youtube and other social media platforms.
We shouldnât set expectations that all community media content be fully funded by community funds and instead strive to bootstrap media outlets to help them launch but eventually become self sustainable.
Also, if the Terra community begins 100% funding all media the coverage might risk being perceived as un-objective to the broader crypto community. Though I think Terra Bites is awesome, I am worried others might perceive it as propaganda if its entirely funded by the Terra community long term.
1 Like