Fund Devs With $4M of Off-Chain Community Assets

This (horrible) proposal has given me the necessary motivation to participate on Agora discussion. Anyone who might be in favor of this proposal must have a hidden agenda.

The proposal is radically contrary to the spirit of decentralization that characterizes our chain.
In any case, 5 of 8 names have very close relations with Alex. The trust of the community in Alex is low. And trust is a necessary thing to manage funds.
My answer is clearly NO.

I propose to recover the funds, and take them to the community pool

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I agree with @Vegas and others that these funds should ideally be recovered, converted to LUNC, placed into the community pool, and distributed to community groups who need funding via the existing governance mechanism of distribution proposals. I see absolutely no justification for having a self-selected committee, paying itself $540k per year, to manage the distribution and monitor ongoing use of the funds.

I suggest that this proposal be replaced with a proposal that establishes the community view on whether a management committee is required for these funds, or whether the existing community pool mechanism should be used.

If a majority of the community feels that a committee structure is required to provide increased agility over and above the existing governance system, then the ongoing selection, removal, replacement of members, definition of members’ duties, committee reporting requirements, level of remuneration of committee members, and committee quorum level should all be the subject of separate governance proposals and separate votes through the existing governance system.

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man get lost. Funds should be in Community pool. We don’t need any new Organization just for controlling or managing it. Any project or devs can put a proposal to ask for some money from the community pool. Get outta here with your bs proposals Alex

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Good point. Why is this not a formal, legally binding contract? A DAO vote and “trust me bro” means nothing once the $4m switches hands.

Alex has lost so much goodwill in my eyes with this obvious cash grab. He saw the money and his eyes glazed over as he hurriedly tried to figure out a way for him to get a nice slice of it. Glad that the community is seeing this for exactly what it is.

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Go burn all if you want or scammers

Edit : yours steal %10 lunc burns

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Temporary Centralization

All the community needs a central team of devs for is to build TC’s main core (a stable one)… once that’s completed ~ we no longer need that central team of devs, then decentralized devs take over (a well~built core should attract them). so, until we build that stable core ~ we need centralization… We need that team of TC community appointed devs to build a stable core that governs itself (like bitcoin) so we can be decentralized again after the fix. We also have to be careful that team doesn’t pump and drain (crash) TC again by not fixing the core.

TC needs (at least) an appropriately tuned circuit breaker to curb abrupt price changes to prevent another attack.

CZ please take over Terra Classic and save us from having to put up with this drama…

I am sick of it all…

If we want centralisation ask CZ to take over and give this chain a chance to survive

Otherwise we have Wolves dressed as Sheep’s trying to pull wool over our eyes pretending it’s decentralised

It hasn’t been decentralised since Terra Rebels came to the rescue.

For all the good they have done, the politics the power has corrupted a few.

This new group is TR Version 2 without @Vegas who might be popular with the community but the way he spoke to CZ that day on the AMA and lead the Twitter Mob was so damn disrespectful.

The intelligent ones have moved out of the much dysfunctional Terra Rebels Version 1.0

Wake up people, I know it’s Sunday but smell the coffee

If you want centralisation give it to a man who has integrity and has built a global business

If you want decentralisation then get rid of the toxic selfish Morons who have taken control.

Out of the 9 I only trust 2 the rest need to convince the community why they should have $60k/yr on top of all the other businesses they have generated from the Terra Classic misfortune

Then we can decide if they are worthy of the funds

As I’ve stated

How many hours a month for that $5k a month

It’s a simple question that won’t take a genius level of intelligence to answer

The funds belong to the community

The community can then decide the ‘Senate’ and compensation package

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no permanent or temporary centralization. I don’t see it as necessary and they haven’t done anything to demonstrate the need to create such a thing either. It’s not solving the problem either. I only see people who want to be paid without doing anything.

All/most of you bought lunc in hopes to become a millionaire or make a lots of money, but you are against paying the devs 60k a year for the work or value they are bring to Lunc. I don’t get it, when some of you say the devs need to get paided, you mean…when Lunc pumps and you are in a good mood so you throws the devs lames as 20$ charity to divide among TR.

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I think no one is denying the fact that developers should be well paid. Only this can help us build a solid core and atract the chain for futher use cases and development of the network. It is about the way in which access to funds is presented, the choice of representatives, the lack of a transparent remuneration mechanism. A much clearer path was proposed by @ek826 in the proposal Promote Chain Utility via Establishment of the Terra Classic Grants Program. Further developer financing should be discussed there, not here. Especially that proposal did not raise such doubts and, if I see correctly, it has already been voted on Terra Station.

Hey, about your suggestion.

If there are some resources that can be used to fund developers, managers and what I know, for example to rent a server to run the blockchain, then I am all for it. However, I agree with the views here. Sell everything, buy LUNCs and put them in a pool and then use that to withdraw funds for the necessary funding.

I agree that the community is not always in favor of one thing and in some cases it is better if 5 people agree to pay off the developer. However, as far as having full control over the financial value of over $4M, I completely understand the skeptical thinking of some people here. After all, people are worried about possible embezzlement and losing money.
As a compromise, the option of approving a financial budget for, say, the next 6 months, and then the managers can work with that budget. If they are experienced managers, as you write, then they are able to estimate how much funding they will need. Moreover, in this way managers can build trust with users and, over time, gain control over more funds

Fixing the TC core should be something someone (a coder) who holds Lunc could do without getting paid - the pay would come in the boost in the value of their Lunc… so, a central team (that gets paid) may just be another drain on the system…

Just to answer your earlier response. Yes I did call out Alex about Eds involvement in his first proposal as I genuinely couldn’t believe he would have been involved in something like that. When I found out I was wrong I apologised to both parties involved and I have NOT continues this narrative.

I’m not against Alex personally. But literally every proposal he puts forward divides the community. Every single one! He’s an extremely intelligent individual, yet continues with each proposal to disenfranchise at least one section of the community.

This proposal will give him the means and the power to dictate the direction of the chain and apply funding in the direction HE chooses.

If an organisation like the one he is proposing is the direction we should take and he believes it is the best thing for the community, it should be an elected group, not a group he personally chose and is made up in the majority of people who just agree with him.

If he brings out a proposal that’s fair and takes into consideration ALL community interests I have no problem supporting him and I’m sure the rest of the community feel the same. So to say I’m here just targeting Alex because I have a problem with him is simply not the case, I only have a problem with unjust proposals.

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Maybe buy lunc with that 4.16m$ & burn it all. Let holders develop the TC core in a way that attracts devs to built utilities around that core that attracts users…

We (TC Community) will not get anywhere following the “established intelligent people” of this community if we all (those ‘popularly intelligent’ people included) do not all invest our time and talents (coders & philosophers) stabilizing the core of the TC-OS. That’s what this whole thing (the revival) comes down to. Investing means not seeing profits until construction is complete and that construction has been done right and well! 101. Focus on and construct a solid and attractive core while burning all we can until we hit 10billion and the people will come and our units (lunc) will rise.

Keep it Simple
Keep it Fair
Keep it Decentralized
Keep it Stable
Keep it Profitable

What does this proposal solve that the community pool cannot?

In 2 years time 25% of this fund ($1m out of $4m) will go towards the 9 signers’ salaries. Is this acceptable?

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I recommend paying for any work not with fiat currency, but with LUNC tokens.This will increase the interest of developers in the growth of the price of the token.And when the price of the token reaches 0.0001-0.001-0.01-0.1-1 dollars, additionally pay developers a premium of 10,000,000 LUNC tokens.

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This is nothing more than using the using the money for developers issue (which everyone is in favor) and adding self-serving pork.

They dont strongly support anything Alex does. They are unfortunately passive on anything controversial and continue actual work rather than a constant PR campaign to save USTN. This is nothing more than another angle for Alex a few other to save USTN. there must be a lot of money to be personally gained from it. Break down this proposal in 5 different items.

Absolutely not. From the part where you’re accepting money from the man who ruined and abandoned the block chain to the part where you’re receiving a 60k salary every year in perpetuity.
If anyone thinks this is a good idea, you are out of your mind. There is no accountability in deliverance of assets or development of blockchain. The clause that says they are immune from any litigation basically sets this wallet up as a trust fund. You are voting on making these devs trust fund babies. As someone who owns LUNC I vote NO.

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This proposal is harmful because it will circumvent community governance by centralizing power in this unelected committee. These unelected committee members will have excessive control over Terra Classic’s direction, and be susceptible to private lobbying from groups like TFL. The original vision of realizing Terra Classic as the first truly decentralized, community run block chain will be lost.

Developers should be paid via the community pool by converting these off-chain assets into LUNC.

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LUNC Community pool should be run as a University, not as a business