Fund for Development and infrastructure
I am not a developer nor am I a cryptocurrency expert. I am one more investor, who fell in love with the idea of a digital currency that would be carried forward with the efforts of the community. In the early days of Luna Classic, I saw brilliant minds and members emerge with diverse ideas, some extremely revolutionary and others not so much. I was very excited to see such a strong community, pushing towards the same goal. After several months, I began to see how that community deteriorated, with mixed opinions and members who insulted and even criminalized those who held opinions different from them. It seems to me that this is the secret of our community, we are many and we all have our opinion and over time respect was lost. In this proposal, which I am here to present, which is for a development and infrastructure fund for our community, I wanted to ask everyone to settle down and start to respect each other, to listen to whoever thinks differently and discuss, but always respecting each other. And I mean everyone, including myself, I have also been angry in various circumstances for hearing barbaric things on Discord or Telegram. This is not everyone against everyone, this is Luna Classic against everyone, we want this coin to be in the top 10 and we must be together more than ever for this to happen, I repeat, we all want the same thing. We are all here for this project to be successful and no type of abuse or aggression is proactive.
If we all agree on something, it is that developers are people who work to eat and support their own families. I am not going to mention names since there are many teams working in this chain and we have to encourage many more. All cryptocurrencies at the beginning keeps a percentage of its own coin to be able to finance its development. For example, Luna 2.0 kept 30% - 300 million Luna. We do not have that opportunity, so it is urgent that we create a fund for developers and infrastructure maintenance. Today, unfortunately, we have low volume and a price that is deteriorating day by day. So we have few alternatives to finance ourselves. I heard many proposals to withdraw funds from the community pool as well as the famous 4 million dollar wallet. What I see is that we have short-term solutions that are not going to give us any kind of long-term support. You invest in an asset when you see long-term growth or potential.
Luna Classic is burning 0.2% of all On-chain transactions. I understand that everyone has the fantasy that the way to 1 dollar is to burn coins with a tax. But unfortunately that is not the way. The path to 1 dollar is through development, utility, volume, and a greater amount of investment. Many propose to increase the tax on burning, which seems extremely harmful to the chain. My proposal is that instead of burning 0.2%, we direct it directly to the community pool until reaching an amount of 10 million dollars. It sounds like a lot with the price we have today and the volumes we have today, but as our price increases and our volume increases, this will be accomplished quickly. I leave you a table that clarifies the speed in which this fund could be completed.
|Actual||Scenario 1||Scenario 2||Scenario 3|
|Volume Per day||20.000.000.000||50.000.000.000||100.000.000.000||200.000.000.000|
|Volume Per Month||1.200.000.000||3.000.000.000||6.000.000.000||12.000.000.000|
|USD (Price 0,00015)||180.000||450.000||900.000||1.800.000|
|USD (Price 0,0005)||708.000||1.770.000||3.540.000||7.080.000|
When this fund reaches 10 million dollars. The community may decide to continue funding this fund or redirect the tax to continue burning as in the past. Who would have control of these funds, it seems to me that we have excellent leaders in our chain, and we could take advantage of Dr. Edward Kim with his Grant Program (If he agrees). He would be responsible for complying with the payments and the control of the development teams that the community decides to finance.
As mentioned above we should not commit to any developer team. If they are interested in working at Luna Classic, they must submit a proposal with a detailed budget for their work.
This proposal must detail:
• Number of developers who will carry out the work
• Category of developers that your team has, I mean the experience that each one has since the hour of a senior developer is not the same as the hour of a junior
• Number of hours needed to carry out the work
• Cost per hour of each developer, according to their experience.
• Start date and end date of the development.
• Detail of development stages
This budget or work proposal should be presented in Agora and later in Terra Station Governance to be voted on by the community. This way we can have all kinds of developer teams working on various projects at the same time.
I understand that the burn tax fanatics are going to hate me. I ask you to please open your mind and temporarily accept the urgence of these funds. The continuity of the technological development of this chain is much more important than burning one million more or less. With development, we will burn much more and, as I said before, it would be provisory until reaching 10 million dollars and we will discuss whether to continue generating funds to develop or start burning again as in the past.
As a community we should not have favorites, but as a member of the community and without having any kind of affiliation with Terra Rebels. It seems to me that we owe them our apologies for the treatment given in recent days, they have been working for the chain for free for months and have the best of intentions. I look forward to their budget and I hope we continue working together, it has been an honor to spend the last few months with you and I wish you an excellent end of the year. If I am not respecting some kind of community rules or procedures, I apologize, I am not a specialist, I am just looking to contribute my bit and if you agree with this proposal I will publish it soon. I accept any type of constructive criticism, those are the ones that matter, this chain will grow by listening to ourselves. I also wanted to point out that I am not a technician, and this is a written proposal that does not require any type of code to be implemented. I apologize if something is not understood, I do not speak English very well
I personally apologize to all the developers and members of this community for the aggression they received. To a large extent, we are amateur investors who don’t know much about what we are talking about. Let’s keep building together, this is a once in a lifetime opportunity.