Distribute the $4M in Off-Chain Community Assets Towards LUNC’s Revitalization

Something is super fishy about this proposal. $4.16M barely puts a dent into the circ supply 23,237,627,081 LUNC or ~0.3% that’s 1/3 of a %.

Why would anyone think this was a good proposal over buying crypto assets like BTC or ETH to instead use to back or collateralize the LUNC/USTC ecosystem?

$4.16M spent burning LUNC seems like a waste of money… am I missing something?

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I think you are commenting on the wrong proposal.

Do you mean this kind of hate towards religious minorities and promoting harmful stereotypes (hooked nose, greedy). This is exactly why this person is offered a severance package to walk away from LUNC.

The author of this proposal does not benefit from it in any way. He does not have a history of bad decisions and harmful behaviour towards LUNC, TR and other people. What is your argument to have him removed? If you have any - I will be happy to support you. But firstly i implore you to scroll up and look at the examples why Alex is asked to step away. There are good reasons for it.

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Thank you, it took about 2 weeks to assemble and write.

Shalom! :pray:

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This type of hate is disgusting and illegal. This needs to be brought to the public’s attention. I wonder if End Labs is aware that this is the sort of bigotry their employee’s get paid to produce.

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Probably not.

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This is a very thoughtful proposal and addressed the fundamental core development needs of the Luna Classic chain. Well done on the effort you have dedicated to put this detailed proposal together. It is worth community consideration.

Thank you for the questions, I’ll try to do my best to answer them…

  1. The value is closer to $4.5M, actually. We just lowballed it down to $4M to account for any future market downtrends in the short term. But even if there were $20M in that wallet it wouldn’t change the asset distribution scheme because it’s based on percentages, not static amounts.
  2. Yes. As the prop states, 2% of the overall $4M would be put aside for legal council and fund extraction. That’s easily over $80,000+ dollars even at a conservative estimate… more than enough to handle the situation and ensure the money is clean.
  3. Prof. Kim and Vegas weren’t interested in Mr. Forshaw’s committee; they’ve not openly refused to serve as part of a nominee/key-holder tribunal for this prop, however. Also if you’ll re-read the portion of the proposal outlining asset extraction, you’ll notice the legal council/attorney(s) would be tasked with that function if the tribunal refuses.
  4. Your points have been duly noted. Thank you for your feedback!

Shalom! :pray:

Hey Rabbi dont you think that 30% of 4 million Its a lot of money. I agree devs should be paid. But giving it in one pay doesn’t sound fear. Shouldnt it be better to pay it in a span of 6 month more or less. 200k per month? All on one pay they are going to be the best payed devs in history. 1.2 million.

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No, it’s not a lot of money once you break it down. There’s 40+ people on the TR team, and they’ve been working their assess off for 6+ months. If anything, they’ll not be paid enough! Keep in mind the money wouldn’t be going to just 5-6 people, TR as a whole is well above 40 individuals. If you were to stagger the payout over incoming months then it means they’re being paid for current and future work, not for all the development they’ve done during the previous half year.

Shalom! :pray:

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Ok if they are 40 people it has more sense. Shouldnt they be doxxed? How can we be certain that they been working and they are not a friend of a friend? When they started working they didnt start for this pay. Should we start paying them with a salary for people who are working today? I dont know how can you measure there work hours and level of señority I dont pay my employees with out a heavy control of what they are doing. How can we be sure that this goes for this 40 devs and Its not fully paid to one person with many wallets? Not trying to fud your proposal I agree in almost everything and want devs to be paid but dont want to be played with such an ammount of money.

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I am surprised that they are 40+ people :sweat_smile: given the little development that has been in these 6 months, unless they are programming dapps without anyone knowing.

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With all due respect my friend, you are incorrect: the amount of work that’s been done on LUNC is colossal. I don’t know how you can look at how far we’ve come, and think to call it “little development”. We as a community are reviving an abandoned chain while building it up at the same time - have a look at TR’s roadmap if you don’t believe me. Governance, staking, now IBCs around Kislev… and re-peg/swaps to come next year. It’s a phenomenal amount of work!

And not everyone on the TR team is a programmer - they have other people with roles just as critical, but who can’t contribute directly to coding. Also most of TR are volunteers who have to work regular 9-5 jobs to pay the bills and put food on their table - if we manage to get this money to them then they’ll be able to dedicate more of their time to working on LUNC… which means faster developments for the chain, and positive price action for the coin itself. Isn’t that what we all want?

Shalom! :pray:

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Are you a member of TR?

We will be dishing out funds:

Who is the CEO of TR?
To expedite the rebuilding of the LUNC blockchain we will need full time workers. Will the present 40+ individuals be available for that role? If no, what plans are there to get “teams” to make up for the deficiency.
A number of these TR are working in incognito mode. When will the main TR be doxxed? We need to build TRUST especially in these crypto chaotic arena.

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Nothing has been done on the roadmap and I have seen all the source code.
For me your proposal in a no with veto

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So staking/governance and IBCs now being tested all just coded itself out of thin air?

And pray tell what “source code” would that be? The inexistent one you described above? :joy:

If you’re going to spread flat-out lies then go do it somewhere else.

Shalom! :pray:

Shalom, friend! :pray:

Thank you for the kinds words.

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Thanks Rabbi. Not trying to be argumentative here, genuinely believe this I the best shot at recapturing funds belonging to TC and repairing a splintered community. Once the money is in hand I think the factionalism will reduce and hopefully we will get back to building.

To that end of you’ll indulge my mindless murmurings further:

  1. since the recent dip I believe the net asset worth has dipped to sub $2.5m, I asked this question as your post still referenced to pre crash figure of $4.1m. Perhaps a more genreic term of “funds the MS wallet holds is more appropriate.
  2. again your post presumes asset value of over $4.1m which at this time I believe is a significant over estimation. This question was more aimed at assessing liability and whether putting the money into the community pool would bring community pool assets into scrutiny. Poisoning the well as it may be referred to. I have little legal knowledge, however I am aware of times where tainted funds can be appropriated.
  3. this point was made with knowledge of certain comments in forums other than TR. I understand parties are not willing to assume the role given the potential liability on these funds in any action. The second part of my question is more aimed at whether we have a cost estimate for appointing lawyers/trustees to undertake this action.
  4. thank you for taking this onboard.

You are absolutely correct. We have done very little in 6 months. Let’s end this conversation here.

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Vendrugo’s statement about the amount of work done by TR is questionable , since he would need the source code of the original LUNC repository to compare it with the present. That being said, LUNA 2.0 forked did not change the code of the original repository. Maybe certain functionalities were disabled; case in point IBC. I have forked from repositories before and therefore has an understanding of what may be required to disable or enable certain functions.

I am not here to question the credibility of any TR member or the work done by them. If I were you , I would willing go through with this member of the community, the algorithm that was needed and the amount of coding that was required.

There was an article that was circulated in the community that stated that, to enable IBC , all that was needed was to set the “IBC variable to TRUE”. This article in my opinion suggests that nothing was really done.

Use negative comments by users to build TRUST “by hearing them out”.

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