Proposer: Marco Ferreira, Terra Grants Foundation Program Manager
Terra Classic Recovery Acknowledgement Opportunity-Signaling Proposal
From looking at the entire Defi ecosystem including the most recent events, Terra Classic and its community is at a critical stage of growth and building. From my viewpoint, hard work not only needs to be acknowledged, but needs to be rewarded. If it weren’t for the past applicants’ work, commitment and time, the Terra Classic blockchain would not be where it is today. The LUNC Community is a strong community. Yes, we are diverse along with various levels of opinion, but we are steadfast in acknowledging individuals on their work on a monetary level.
This is a signaling proposal requesting the community allocate 1,000,000,000 LUNC tokens from the LUNC Community Pool as rewards to individuals and groups that helped with the revival. This allocation will be used to award LUNC supporters during the Luna (v1) death spiral up to October 27th, 2022. This concept will be called the Terra Classic Recovery Acknowledgement Opportunity where the process of reviewing and scoring applicants will be on a first come, first serve basis.
On the first come, first serve basis, the Terra Grant Foundation will provide open transparency to the community of received applications from applicants that includes their application name, received date and received time.
Full Disclosure: The review committee will be aware of the amount of applications received during the open submission period along with the categorization of the applicants’ Terra Classic category (Developers, Validators, Projects, Community Ambassadors), through a comprehensive spreadsheet to enable reviewers to declare conflicts of interest. This will protect the integrity of the Terra Grants Foundation’s grant process, its authenticity, unbiasedness, and fairness to the Terra Classic Community.
The review committee will obtain at least 3 unbiased reviews for each of the different categories, and provide a score for each application. I, the Terra Grants Foundation Program Manager, will be responsible for gathering reviews and helping the committee come to consensus, and summarizing the review once the scoring is complete.
Each applicant must provide three key areas for possible award. They are Team/Individual background, Proof of Evidence, and Impact. The Terra Grants Foundation and its review committee will be diligent in verifying each submission and the information provided is accurate and verifiable. If information provided in these three categories are unable to be verified with factual background, the application will be returned without review.
Once all applications have been reviewed, the applicants’ scoring, along with the awardees with their LUNC recovery story, will be announced on the Terra Grants Foundation website. A proposed distribution governance proposal will be presented to the community for final vote with each proposal and suggested allocation. Upon consensus, a smart contract will be created to handle the distribution of the community spend proposal.
More details on this proposed program are listed on our upcoming flyer which is attached to this proposal.
TFG 1B Flyer.pdf (307.0 KB)