Yeah these funds should go straight into the community pool, so the spending can be voted on the usual way. Those salaries out of public assets is straight out of line.
No , you need to create a election system for the community, do not Coup and make people signed what you want.
It’s pretty important that you guys start communicating with Do Kwon and going in the right direction, I absolutely support this proposal
I think the intention has merit, and to be fair you’ve maybe found funds that would otherwise not easily have been available, but:
- Spending $0.55m dollars on bureaucracy in one year to spend another $3.5m that at best is grossly disproportionate, if it takes more than a year then the admin to funding rate is even worse.
- If anyone is getting that level of money I expect them to be full time with no other work. And then I want to see VFM. That’s one hell of a lot of person hours for a reasonable reward. To be honest it doesn’t feel kosha yet.
- No one on the panel should be allowed to be the subject of funding imo, it is a conflict of interest.
- Surely it cannot be correct that the people responsible for allocating the $3.5m of funding are judged on ‘mutual respect’ (Trust my friend bro) and proof of work* where those receiving it are judged on other criteria, e.g. qualifications and track records of bidders, and monitoring their work progress to completion. This is applying different criteria, should we award the funding on the basis that I have mutual respect for Gladys who lives down the road and who works wonders battering her wet plaice?
- *The proof of work criteria is not explored in the proposal but inferred, why select these candidates: the proposal gives no evidence of that proof of work.
- Have we really $3.5m of funding needs in a year for only L1 activity?
- What experience have the candidates got in running charities and what is their financial track records?
- 9 people is far too large to form any kind of meaningful committee and unless each is bringing some kind of valuable key skill set for the committee then it is poor candidate management at best.
- 5 out of 9 required to vote when they are being paid $5k a month to vote is dereliction of duty and if they are paid to work then it should be 9 out 9 voting otherwise they forfit the position.
- Gladys would never miss a beat with her wet plaice if she was paid $5k a month.
I think you have an opportunity to use these funds well for the community, however Ed has already created a charity to administer funds from the Community Pool. I’d welcome you keeping 1% of the $4m for finding the funds. However currently I do not think this proposal is supportable in its current form. We have the Terra Classic Community Foundation that is a registered Charity that this can go towards which could redistribute these funds itself, and those members are volunteers. Maybe you could apply to be a director there.
The salary is too high, the money should be applied more to the community instead of paying the group of 9. LUNCDAO and ED are familiar with how much others have contributed, is it just more proposals. We don’t need more proposals, we need down to earth contributors and we need a strong soul leader to lead us. He must be full time, not part time.
Vegas should be among the members of the new slate. Everyone knows and respects Vegas but, no offense, who knows Ian or Marius?
I am still thinking through the proposal discussion (https://classic-agora.terra.money/t/fund-devs-with-4m-of-off-chain-community-assets/47690) and I appreciated that Alex included the backstory, and included that there was an effort to include other people outside of Terra Rebels. I want to attribute the best that I can to each person, and each proposal, until I have to acknowledge concerns.
As an initial concern, this proposal too closely mixes Terra Rebel’s business plan with funds that, at least according to the discussion, may end up being transferred to the full Terra v1 governance community. It would be wise to see a full legal review, from an attorney, that the money is actually clear. In addition, each of these people who are listed work very close together - and are not necessarily a representation of the fuller Terra v1 community.
The plan as written feels more like a takeover of the chain (it certainly could become that), and brings this discussion from the past to mind ( https://classic-agora.terra.money/t/do-kwon-what-would-it-take-to-buy-you-out-of-terra1/44712 ), or at least something that solidifies TR’s plans as the Terra v1’s community plans, using assets that according to the proposal discussion Do Kwon appears to have acknowledged could be transferred to the Terra v1 governance community as part of maintaining the L1 block chain. One of the things I liked about TR in the early days (of what feels like years ago - hard to believe it is only a few months back) is that it worked to the greatest degree out in the open (and found a way to enable open and transparent communication to work with minimal amount of needed confidentiality) and that they said “we are here to implement whatever the community decides through proposals” (it would be community driven). The business side was in order to enable those goals. With respect for the work TR has done, those goal posts have shifted along the way unfortunately IMHO.
I agree with @Vegas that this could be sent to the community pool for grants and let the multi-signatories be suggested/assigned as part of that process, and within a milestone accountability (multiple proposals - one for each major milestone and only after each major milestone has been accomplished).
Those are some initial concerns for myself personally.
This is a complete lie. I’ve been following all major LUNC community figures since the beginning and saw LUNC DAO initiate the revival. I have never seen him make a “moonboy claim”. He’s called out people who do that every week in both tweets and spaces. You are confusing them with other influencers like Crypto King and Classy. Coach Bruce has been the exact opposite
[October 17th] Notice that I NEVER made any claims about the price of [$LUNC]. Only scummy influencers make promises to get engagement like “$LUNC is going to $1” “$LUNC will do a 10X” etc The only claim I ever made back in May was simple: that at $200M Market Cap, [$LUNC] was insanely undervalued
[3rd June] We cannot promise the price of [$LUNC] will go up or down on any particular day The LUNC DAO team can only promise we will work our absolute hardest to burn [$LUNC] as fast as possible How fast is down to our community. The more we RT and spread the word, the faster we burn it all
And every Q/A they’ve ever done stressed the possibility of LUNC failing
“No with veto” for me. The money should go to the community pool and than you may pass any governance proposal you want to use it.
Give man power and soon he will lose his soul…
I’ve been here since the collapse of LUNA in May…
I had nothing but respect for what the Terra Rebels did…
Soon it became apparent Altruism went out of the window and everyone started fighting for fame and personal glory.
Everyone wanting to become the saviour of Terra Classic.
This is wrong on so many levels…
$4.1m belongs to the community not 9 people.
Unless people are working full time then $5k per month is a significant amount for this project
Do we need another group ‘TR’ version 2.0 ?
No we don’t…
Convert the funds to $LUNC whilst the price is low
Sell it when it hits a certain price…
I suggest 0.002
Then put it in to the community pool because that $4.1m will become $41m
Then start distributing these funds to projects
Eating up $540k because you’re 9 Bros who get on is recreating LFG and look at how that ended.
Although Coach Bruce might have initiated the LUNC burn movement, I get the feeling he did well from LUNA Airdrops…
However I find his sexual Twitter posts disrespectful to women. I had to unfollow as a Woman I just couldn’t take his any more. I once listened to a Twitter space with a woman on pitching her idea of ‘tinder’ like app on Terra Classic. OMG the comments made to her… any where in a work environment he would have been taken to court…
If we allow this sort of cheap talk then we are failing to protect women in society and say it’s ok to talk like that…
What Lunc Dao has done for the community is commendable but it would be nice if it came without all the cringe worthy comments made towards women… I have no doubt Bruce is a highly intelligent person… but please show women a bit more respect… Not everything is about
Rex makes some valid points…
So here’s my suggestion if you need all your 9 bros in this
Create a rotation of 3 max per month on rotation so the monthly Salary doesn’t go about $15/month for ‘Full time’ developers
DO NOT abuse the goodwill that all of you have created for personal glory…
Yes you need to be compensated, but it has to be fair compensation.
I would personally these funds were converted to LUNC
Tucked away until LUNC price hits $0.002
Then put it in to the community pool so that 4.1m becomes 41m
We have to respect that these are community funds
I lost £150k in that death spiral between 7th - 13th of May…
I want to see Terra Classic succeed
I just need LUNC to hit 0.001 and I would have recouped my losses and made a significant ROI as I’ve been DCA since May…
So I’m here since the beginning and will be here to fight for what’s right and not what’s easy…
You can love me or hate… it doesn’t bother me…
But I will call a spade a spade… always
I absolutely love the Grant Programme and how it has been presented…
This proposal on the other hand is morally wrong…
And shouldn’t pass governance because it’s sadly a money grab exercise for 9 people
There are many unsung heroes in this project
They shouldn’t be left out… and the only way that will happen is if the funds are put into a community pot for everyone to access not the chosen 9 Bros who hang out together sipping virtual tea
In full support %
too much information for a single vote to be made. I think it should be divided into sessions
I get the impression that they continue with the idea of creating a centralized council in which decisions are made. Decisions that should be made by all members of the community.
That proposal effectively grant all fund $4M to the 9 signers in one go. The community will not have any control to the fund in future. Better we have the fund send to community pool, then we release the fund year by year to terra rebal.
For me, this is a NO.
The lack of transparency is very troublesome… Out of nowhere comes a proposal of transferring $4M from a wallet the community didn’t know about, through negotiations with Do Kwon that took a month and, again, the community didn’t know about? Seriously?
Another problem is the centralization of power this will create. Why keep this multisig wallet? If these funds will be used to the benefit of the chain, why not transfer all of it to the community pool?
The community is very grateful for the hard work of the Terra Rebels team, but why create another governance system? Why have another source to fund the chain? The “community pool spend proposal” type can be used to transfer funds to finance the contributors of the chain.
If any contributor wants to be monetarily rewarded for their work, just create a “community pool spend proposal” and bid the community. I am sure that we, as a community, have no problem paying anyone that is contributing to the revival of the chain.
But this convoluted, controversial, and opaque proposal raises serious concerns regarding the true intentions of these individuals.
In my opinion people need to have an incentive to work for the ecosystem.
One form of remuneration will be the presentation of reasoned projects, where they present the necessary funds for the various stages of development. If the project proposal is approved by the community, these funds would be released through the presentation of results.
And big NO from me. We have already good idea of more transparent grants program followed by @ek826 here: Promote Chain Utility via Establishment of the Terra Classic Grants Program. I will repeat my predecessors - put resources into community pool.
I’ve been here since the start. Their long term efforts, vision, burning, work behind the scenes to aid TR and sense of humor created the entire revival. He joked about creating LUNC dating apps and similar to make others laugh in a tough market. That’s how the whole revival happened and why it did a 10X while everything else decreased in value. Maybe you need to do some research on what humor is
I agree devs need to get paid. No doubt about it. If devs full time then full time pay is fair. I know I want to be paid for the work I do and so does everyone else. I think we all agree devs should be paid. We want TR to continue their work and help rebuild this Chain. But this proposal sounds sketchy and I don’t think that was the intention. I think the community is apprehensive of anyone controlling large amounts of money after the death spiral. I appreciate the back story and some details regarding the funds.