This is a draft to receive feedback. An updated final version will be put in a new post.
Proposer: Asobs (@Asobs)
Bias: I recognize that I currently hold a few million LUNC and create content around Terra Luna Classic.
This proposal is a flat payment to give the Terra Rebels 250,000,000 LUNC (@ $0.00024 = $60,000) from the community pool to subsidize their work for November. Currently the community needs time to determine how much we want to spend on development, what accountability is needed, what we want Terra Rebels and other contributors to do, and if we want to add another development team. This will buy the community the needed time, by providing Terra Rebels a financial incentive to keep working until a sustainable answer is determined by the community.
Results of voting
A “YES” vote will result in the Terra Rebels donation wallet receiving 250,000,000 LUNC from the community pool to continue working during November. This buys the community time to come up with a sustainable solution for funding and accountability.
A “NO” Vote will result in the funds remaining in the community Pool. This runs the risk of Terra Rebels pausing all work on the ecosystem.
It is clear there has been a lot of debate around funding developers for this ecosystem. There is no end in sight for this debate, however every day that goes by is another day where people are working without pay. We are a billion-dollar blockchain with people volunteering their time, while stressing about paying bills… The community sees a few public members from Terra Rebels, however there are currently 40 people within Terra Rebels with a wide range of financial situations. Some simply cannot keep working without receiving compensation. If this money was split among the 40 team members evenly, it would only equal $1,500 per person. It only seems right that we pay for the work during the month of November, which will buy the community ample time to discuss the issues around funding, and accountability.
Terra Rebels committed to work for free to restore the Terra Classic blockchain $LUNC. This original scope is now completed, and they are currently working beyond this original scope without compensation. The reality is that Terra Rebels could stop working any day and the community would be left in a difficult situation without developers to maintain the blockchain.
This funding is needed because in October, Terra Rebels only received roughly $30,000 from donations, or about 50% of their needed $60,000 per month as outlined in the funding proposal released on October 1st by the Terra Rebels. This proposal will allocate 250,000,000 LUNC (@$0.00024=$60,000) from the community pool to the Terra Rebels donation wallet. This is done to meet the $60,000 monthly request from the Terra Rebels in their funding proposal. This is intended to fund the month of November, in accordance with the outlined allocations in the original funding proposal that can be found in the Terra Rebels discord.
Expectations: It is expected that Terra Rebels will fulfill their commitment for accountability: “Each TR team representative must produce a list of accomplishments with active member contributions at the end of the month to be viewable by the public as justification.” (Terra Rebels Funding Proposal) https://docs.google.com/document/d/1Kr3hAMG4vSEXm1ALdfgvKCfQNQwXGrBc3vETEe4mXAc/edit#
In addition to this, it is expected that Terra Rebels will provide a high-level summary at the end of the month with spending categories identical to those in the original funding proposal released on October 1st. This would be an outline of total spend for each category: Reserves, LCD/FCD endpoints, Infra Expenses, Active member distributions, and team representative rewards. It is up to Terra Rebels to spend in each category as they see fit, then make a summary available to the public.
Terra Rebels will be expected to continue working as they have over the past few months. Business as usual. This will provide the community time to determine what priorities we want Terra Rebels to work on, and how.
It is NOT expected that anyone within TR will drop their current jobs until a sustainable solution can be developed from the community.
It is NOT expected that Terra Rebels will provide anything outside of what is outlined in the original funding proposal, such as hour logs.
Perspective: The cost per community member would only equal $0.70, which is not a significant financial expense per holder. There are currently 85,654 wallets with over 100,000 LUNC (according to LUNC Penguins). Another comparison is how the 250,000,000 LUNC represents about 15 hours of staking rewards. The community pool would recover the 250,000,000 LUNC in 50 days from the 0.02% transaction fee on 23.69 billion avg daily volume. In my opinion this is really good, given how low the volume on-chain is currently. This spend poses a minimal cost to the chain. Without this spending we are at risk of all work being stopped on the ecosystem.
The scope of this proposal is only 1 month of additional funding. The first reason is that the community currently is unable to decide on how people should be paid, and how much they should receive. There is also dispute on how accountability will be handled. This takes time to find sustainable answers to these big questions, and this month will buy the community that needed time. Second, the community needs to decide what we want the Terra Rebels to do going forward, and what tasks we see as valuable. Third, there is debate within the community about adding development team, however those details need to be determined by the community with time. It seems clear that regardless of what the community decides, we will need the Terra Rebels for the next month at the very least.
Terra Rebels Donation wallet.