That is excellent work @dfunk, I wish more people would take the time to read about how things work in the chain and use its mechanics rather than chase bespoke solutions.
Rock on and prosper 
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@dfunk The contract did run once on 2022-10-18 and has stopped working since!
The income from those transactions is not great but can support at least part of the hosting cost for the Rebel Station managed by the TR team.
(Not sure if they really need that, if anyone in here says otherwise maybe we can remove the entry and allow them coins pile up in the community pool instead)
What is this about? I can say that Neblio has an active deal with TR and they are continuing to support them. So now I don’t know the context of this discussion, but I can assure you they already have the backend infrastructure running for Rebel Station with Neblio support.
Before we manage to get the chain unfrozen and while we were looking at what was required to enable 3568 raised by @Vegas we fall into a slow process where lots of people were losing faith so @dfunk found a way to keep the proverbial fire burning in the community and keep the then-validators happy by utilizing some of the chain’s existing functionality (this post turned into proposal 4080) and also started to populate again the CP that was flatlined.
As the proposal says the aim was to use on-chain transaction fees in order to keep the then validators still online (so the chain wouldn’t get bricked) and at the same time divert some of the LUNC fees into the community pool for burn/dApp/dev purposes.
The funds that would end up in the CP (50% of the total captured transaction fees) would be used for BURN (70%), anchor legacy dApps to Terra Classic (20% airdrops) so utilities don’t run away and ongoing core chain development work that was taking place in TR then (10%).
@dfunk completed the contract that does the distribution sometime in mid-Oct (after we have managed to regain governance control until then all funds were just accumulating in the CP) but the contract seems to have run only once rather than continuously polling through transactions and doing the required distribution.
All the details, source code, contract number, documentation etc. were logged for everyone to see further up in this forum by him so as to close the proposal loop.
If it’s not needed and @dfunk can get this working maybe we need to raise a proposal to change the contract so that dev funds are redirected to somewhere else (like Oracle Pool) rather than the TR donation wallet.
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I see the disconnect…the chains distribution parameter currently collects 50% of the transaction fees in the CP but does not have the logic to transfer them onto the contract address for it to do the final distribution.
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hey @godoal
yes, the last commit to the contract was made by me on Oct 18 which fully implemented Prop 4080 to distribute the funds in a 70:20:10 ratio (70% burn, 20% dapps, 10% Terra Rebels). However, for the contract to be put in effect, a Community Pool Spend Proposal would need to be raised which would transfer the funds to the contract for distribution - which neither me nor anyone from the community has raised.
Reasons why I did not raise a Community Pool Spend proposal:
-
Burn via on-chain Burn Tax: At 0.2% burn tax - a substantial amount has been burning at a consistent pace. If the Burn Tax reduces to 0% or if the Community Pool outgrows the Burn Rate - I would consider enforcing the contract via a Community Pool Spend Proposal (Note: The burn rate in the last 4 weeks has slowed down considerably)
-
Developer Funding: Developers have been adequately funded from the Community Pool -
Prop#11030 funded 937,500,000 LUNC to Terra Rebels,
Prop#8813 funded 1,600,000 USTC to @ek826 Terra Grants Foundation
Prop#11168 will fund 908,000,000 LUNC to L1 Task Force established by @ek826
Further developer funding as per Prop 4080 is unnecessary. -
Dapps: This is the only area I feel has been overlooked by the community. Dapps like Terraswap and Astroport should be supported - and if the community feels strongly about this too, I’m happy to assist.
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Same here…
There is another subject that is roaming a lot; the replenishment of the Oracle Pool…so maybe that’s where the 70/10 could go.
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