To be clear, I fully support the funding of project dawn, I believe long term investment is what will make Terra stand the test of time and be trusted by the outsiders.
The problem that the community is raising and is a valid point, is the transparency around the 3m Luna, which at first I believed it would be a flexible about depending on the price of Luna, if Luna is at 100$, do we really need 3m Luna that month for protocol improvement and expenses?
Sound’s like a lot of $, but if there was more clarity/transparency around where the Luna is going, the community would understand better.
TFL is committing to unlock at most 3 million Luna per month for all operating costs with details around each unlock transparently relayed to the community.
I think the issue that people miss with this logic is that many of their commitments are denominated in Luna. For example, 1.8 mil Luna per month are for employment contracts. Likely, this is mostly vesting contracts that were payable in Luna. So, no matter how much Luna is worth in USD terms, if you promised an employee 1,000 Luna, that is still 1,000 Luna.
The other 1.2 mil Luna per month is for various expenses, which seems more likely to be denominated in fiat, but we don’t really know.
I 100% agree that I wish there were updates and transparency. Genuinely would be curious what advancements the project has allowed, and I wish there was less speculation and conjecture about how the funds are being used.
I cannot imagine there is really such limited time that its not worth posting some sort of update on what has been accomplished with what is now valued at around $700 mil.
Further to Project dawn, TFL is committing to unlock at most 3 million Luna per month for all operating costs with details around each unlock transparently relayed to the community. This will cover both expenditures in project dawn as all other TFL operating costs, such as employee token distributions. In particular, **further announcements around infrastructure improvements, through the prism of both robustness and decentralization, will be released throughout Q4. We believe this will result in much more predictability of Luna token emissions.
Is this 3m unlock per month in perpetuity? It does say it is at most 3m but every month to date has maxed out which is a little surprising given Luna price action in the period, and some of the infrastructure improvements and operating costs must be in fiat? Just frustrating when it says the lines in bold above… to then not have the transparency