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

Governance & Proposals
22

This is a disgrace! “chosen on the basis of mutual respect and proof of work” what sort of crap is that? It’s more like an Alex’s friends group.

At least 3 of the 6 are USTN authors. Something you know the majority of the community is NOT in favour of. It’s not an impartial selection.

People don’t support USTN so what you’ll ringfence all the funding into pushing your proposal through! And make sure the group has nobody with an opposing view to you!. Decentralised my arse!

You clearly just have your own interests and visions in mind. 5k a month for everyone behind USTN? Nope! Not having it!

12 Likes
23

Totally agree with @Moodytota wrote about the conduct of Mr. @coachbruce, or simply @luncdao. Most of times, his tweets has “sexual connotations”, which I think should not represent the posture he will have to do / or be, as proposed above.
No other objections btw, just his conducts / contents at twitter!

7 Likes
24

You have a clear issue with alex
I watched and called you out for calling him a liar about ed helping with his proposal and you continued even when alex said it too.
Ed also said it yet you continued this narrative.

Are you saying Ed and Zaradar have their own interests instead of the communities?

Alex was the one that worked with DK to get this to be an actual possibility.

5 Likes
25

I have all the respect and gratitude for the people on the proposal for the work they done for this community.
this money should go in to the community wallet then we can vote:
who, why, how much and if we happy maybe more.
you will have to break down this proposal to small ones like, who should be nominees…
its slower but decentralize noting personal but it is the way

5 Likes
26

~Shirase from TerraRebels discord chat~

Everyone please vote no and against.

  1. Sell these funds
  2. Buy lunc with it
  3. Add to community pool
  4. Community will govern/vote how it is used
8 Likes
28

I agree

1 Like
29

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.

4 Likes
30

No , you need to create a election system for the community, do not Coup and make people signed what you want.

4 Likes
31

It’s pretty important that you guys start communicating with Do Kwon and going in the right direction, I absolutely support this proposal

4 Likes
32

I think the intention has merit, and to be fair you’ve maybe found funds that would otherwise not easily have been available, but:

  1. 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.
  2. 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.
  3. No one on the panel should be allowed to be the subject of funding imo, it is a conflict of interest.
  4. 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?
  5. *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.
  6. Have we really $3.5m of funding needs in a year for only L1 activity?
  7. What experience have the candidates got in running charities and what is their financial track records?
  8. 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.
  9. 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.
  10. 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.

18 Likes
33

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.

5 Likes
34

Vegas should be among the members of the new slate. Everyone knows and respects Vegas but, no offense, who knows Ian or Marius?

3 Likes
35

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.

12 Likes
36

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

Examples:

[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

2 Likes
37

“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.

11 Likes
38

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.

Soon we started to see cracks and this proposal I honestly don’t know how @ek826 put his name to this one or even @Zaradar

This is wrong on so many levels…

I don’t usually agree with @FatMan and seen @Vegas go after personal glory to the detriment of the community. But both of these people have a point.

$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 :racehorse: :poop: 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 :cherries: :eggplant:

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

13 Likes
39

In full support :100:%

2 Likes
40

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.

3 Likes
41

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.

4 Likes
42

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.

12 Likes