This proposal is a far better alternative than the one produced by Alex. Those funds are community assets and thus should go into the community pool to be managed by proper decentralized governance systems that are already in place. Having those funds be managed by a group of 9 individuals, 6 of whom are essentially self elected goes against the spirit of decentralization.
Moreover, I believe that there are multiple conflicts of interest regarding the original proposal, as well as dubious dealings that do not inspire trust in current or future investors.
Firstly, having a select few validators in charge of filtering proposals and also fulfilling their regular duties as validators presents a conflict of interest. Choosing which proposals go through, AND voting on them is unacceptable and would be unacceptable in any rational governance system as the avenue to corruption is extremely clear. Even if you trust them as individuals, such a system is completely irresponsible.
Finally, there is the issue of how the funds were acquired. It is to my understanding that Alex Forshaw obtained these funds through private conversations with Do Kwon and/or TFL. Leaving aside the issue of Alex as a less than trusted member of the community, making backroom deals with a known international fugitive and placing the resulting funds from that deal into a centralized group with nebulous intentions and responsibilities trips every red flag in the book. Even in the miracle scenario that every single person there wants the best for LUNC (something we do NOT know), in the eyes of any current or future investor looks like nothing more than corruption. It is terrible optics and will inevitably drive away investors. Transparency is key.
Hello. I think first we need to find new owners of the multisig wallet who will charge less than 5000 USD a month. I am pretty sure it is not a problem to find people who can do it even for free. It will save enough money to hire additional devs. Second - we need a normal public selection of those who are in this list, not just a proposal with pre-selected (by whom?) list of names.
Letās take care of spending it after we initiate the transfer and form the council. Everything will go through 8813 proposal except for this 4 million dollars.
In theory, you are right, but from a realistic point of view, by looking at the big picture, we need to give a space for hustlers and community members to find ways to support. Alex is an example, he was contacting DK for sometime and built some trust with him that led to this discovery. Without Alexās communication with DK, we wouldnāt be here. People need to be rewarded for what they provide to the community.
My only concern with Alexās committee is that they left you out. I would love to see you in the council.
Vegas, you are a leader, and I like to see you acting like that.
I fully agree that if those 4M$ money are/belongs to the LUNC chain, than they have to be deployed on chain. The issue is that we are moving slowly and the community expects from the leaders of the community to formalize at least two diferent prpposals, every of which to contain two parts:
1/ Part1: where the money shall sit and if and how they will be techncally and practilcally transfered.
2/ Part 2: how the funds will be allocated and what is the most efficient, fast and transparant procedure/process to fund the devs and the other builders
Can we please get a proposal for development work needed that the community can vote on? How can we pass a governance vote when core devs upset that they havent gotten paid havent formally requested funding?
Why are we debating paying advisors to figure out how to pay the devs? Can the devs put forth something, anything, so the community can get them paid asap?
Due to the volatility of LUNC itās unwise to place the $ 4.6 M into the Community Pool at this time. What is needed now is the election of the qualified persons to be the signatories. Whether itās Alex, Ed, et al, is inconsequential, once we get the best persons for the job.
We are speaking of paying 9 persons to do what? What are the roles of each person? Will the DEVās be paid from this 4.6M? When this fund is exhausted ,what happens next? What about RFQ/ITB for āprojectsā that need to be outsourced. We need a paid management team including a CEO and CFO to manage the day to day activities of the community. We dont seem to have an organizational structure with clearly defined roles. Letās fix this and there will be less discord/squabble on sound fundamental principles of management. We have a 1,5 B dollar blockchain that does not have clear leadership. Letās fix this! Some of us are acting as if we are too big for our britches. It does not look good in the public eye. We are all part of a Business. Letās treat it that way.
Currently, confidence level people againts LUNC is decreaseā¦ why?? Because they disapointed with burn tax cannot impact to increase the priceā¦
They loss hopeā¦
Implement burn tax for every sell option(spot) of LUNC (off chain)ā¦ we will get USDT/BUSD/etcā¦ then used again for buying LUNC, then sent to burn addressā¦ supply will reduce and price will increase graduallyā¦ finally confidence of people will back againts LUNCā¦
When confidence people already back, you can continue to develope code, utilities,. etcā¦
Please considerā¦
Thanks for your answer. I just wanted some clarity because Iām following discussions here and on the Twitter and things getting really complicated for no reason. The community should know which are the key points on every proposal, thatās all.
Thank you, Vegas, once again some clarity.
The owners of the multisig in ethereum can sell the ethereum, buy Lunc and simply send to the community pool.
The management of the community pool its the discussion.
The other proposals to let a few select handle the money is moraly wrong.
The focus is: lets make sure the community pool keeps getting replenished, the HOW to replenish (via 4M usd in ETH and other formats) must be secondary compared to the real importance that is: give proper use to the money to advance lunc and make sure talent remains (and new talent comes) to Luna Classic.
When sending the funds to the community pool the signers canāt transform them funds to stable coins instead of LUNC that we already know are volatiles?
We are essentially talking about a steering committee to temporarily safeguard these funds until they can be disposed of through governance; to pay DEVELOPERS, not wanna-be titans of finance. Hell, Iāll do it for free. Iām sure plenty of others would as well. We donāt need to install a āC-suiteā for LUNC, and we donāt need to install Alex Forshaw in that suite with a 5k per month salary. I also agree with Sam_Toll, just up thread, this whole situation is sketchy AF.
All I will add is that Alex should be nowhere near this project. He is unstable. A small example is looking at his Tweets. I know Ed cringes at them but the community donāt want him.
Time is of the essence. Marketing is already well done and we have the hot iron now with a big community. Let the knowledgeable chosen professional team do their work with haste and most of them are trusted by the community. Stop wasting precious time before the dogs (doge & shib) eat us up! I trust the chosen team and just give benefit of the doubt and let down your pride for once.
