Terra Classic Recovery Acknowledgement Opportunity-Signaling Proposal

Governance & Proposals
1

Proposer: Marco Ferreira, Terra Grants Foundation Program Manager

Terra Classic Recovery Acknowledgement Opportunity-Signaling Proposal

Summary

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.

Proposal

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.

Transparency Process

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)

5 Likes
2

The work is not done yet because we are still in the shit. If all the money is used to give rewards then there will be nothing left to rebuild and I’m not talking about creating silly little games or casinos.

Of dapps that make a good economy and circulation of money.

6 Likes
3

I believe this application needs to communicate the following:

  1. Who makes up such review committee… background and everything else necessary for accurate identification. And their current roles in other projects.

  2. The same would be for the applicants…

  3. An access link with such data…

  4. Wallets to be used for the deposit of funds.

  5. A budgeted work plan, on which the request being made to LUNC is based.

I think that would give more formality to your request.

Regards

4 Likes
4

Thank you for your points. These areas will be part of the proposal.

3 Likes
5

Thank you for your input

6

1B Lunc currently would almost drain the current community pool.

We all appreciate everyone’s work however I think the grants program needs to be forward looking to fund the devs, new utility etc not to compensate for previous efforts.

Possibly a smaller allowance could be put forward as a thankyou to the people that assited to get through to this point

2 Likes
7

I do not agree with this proposal.

1 Like
8

I want to thank the LUNC community in providing input through Agora along on Twitter and Youtube!

Below are updated areas (In Bold) from your input.

Proposer: Marco Ferreira, Terra Grants Foundation Program Manager

Terra Classic Recovery Acknowledgement Opportunity-Signaling Proposal

Summary

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.

Proposal

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.

Transparency Process

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.

Review Committee

There will be 4 (four) 3 person review committees for the following categories: Validators, Developers, Projects, Community Ambassador. Each review committee will be sign to a category based off their expertise and background in that field. The review committee member’s background will be announced to the community on the Terra Grants Foundation website.

Visible Grant Process

**The Terra Grants Foundation will provide real time transparency, through our website, to the LUNC community in the following areas:

First Come, First Serve Applicant list
1B LUNC Fund Wallet (giving transaction history)
1B LUNC Grantee and award amount
1B LUNC Grantee review committee scoring sheet
Grantee review committee decision narrative

More details on this proposed program are listed on our upcoming flyer (updated) which is attached to this proposal.

TGF_flyer_V3.pdf (138.6 KB)

1 Like
9

I believe this proposal should be expedited to be voted on because it makes a whole lot of sense.

I honestly hope the whole community should come together and support this proposal.

Hopefully, all this brave heart volunteers could see some kind of remuneration for their hard work since May 2022.

We must also set an ambitious goal to pay every individual, Devs, validators qualified for payment before Christmas. This is important.

We must try to avoid unnecessary bureaucracy that could slow down its successful implementation of distribution and qualifications.

I will conclude by saying to everyone that has been involved with this great revival of Luna Classic chain. I SALUTE YOU ALL.

1 Like
10

Thank you for your input

11

I’d like to see more comments on this proposal before it moves forward as from the limited numbers of comments currently it doesn’t seem to be supported in it’s current form.

I have made some comments in an earlier reply but i’d also like to add I don’t think Prop 8813 made any mention around payment for previous work it was only foward looking? I am a big supporter of the grants scheme though and think it is a great initiate.

12

Thank you for your input. In terms of funding new projects with upcoming grant opportunities, I would provide this comment. There would be possibly no Terra Grants Foundation or an active Terra classic blockchain if it wasn’t for the efforts of those individuals. Also, if this community and blockchain shows support to those who assisted us, it will attract other talented individuals to help our mission.

This proposal was created from the thoughts and comments of the LUNC community in discord channels, YouTube videos, Twitter spaces and other mediums. I totally understand your focus on new grants to support new utility and protocols, but those opportunities are coming.

Please share this agora proposal through your social medium forums so this proposal can be inclusive from the community.

13

Let’s vote on it. I’ll try to get validators’ attention toward this. I appreciate the job You and Edward Kim do. I’ve watched his work on Agora since the crash and im ever more impressed. I wish you guys all the best and many thanks for spending your time on this. You have my measily 13 million on yes and hopefully more long time holders will support you.

1 Like
14

Thanks for your input along with everybody else via Twitter and Discord! With additional input, there is going to be a community inclusive driven modification to the original proposal. It will bring balance to both sides. The update will be rolled out sometime this afternoon (EST).

1 Like
15

UPDATE: 11/18/2022 I want to thank the LUNC community in providing input through Agora along on Twitter and Youtube!

Below are updated areas (In Bold) from your input.

Proposer: Marco Ferreira, Terra Grants Foundation Program Manager

Terra Classic Recovery Acknowledgement Opportunity-Signaling Proposal

Summary

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.

Proposal-This will now be a 750M LUNC Proposal!

This is a signaling proposal requesting the community allocate 750,000,000 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.

Transparency Process

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.

Review Committee

There will be 4 (four) 3 person review committees for the following categories: Validators, Developers, Projects, Community Ambassador. Each review committee will be sign to a category based off their expertise and background in that field. The review committee member’s background will be announced to the community on the Terra Grants Foundation website.

Visible Grant Process

**The Terra Grants Foundation will provide real time transparency, through our website, to the LUNC community in the following areas:

First Come, First Serve Applicant list
1B LUNC Fund Wallet (giving transaction history)
1B LUNC Grantee and award amount
1B LUNC Grantee review committee scoring sheet
Grantee review committee decision narrative

With this opportunity now reduced to 750 M LUNC, the Foundation will be announcing a SEPARATE Grant opportunity in the amount 500M LUNC. The RFP will be focused on Tooling and Utility. TGF will make the new Grant announcement through Twitter, Agora, and on our website in the upcoming days.

More details on this proposed program are listed on our upcoming flyer (updated) which is attached to this proposal.

TGF_flyer_V4.pdf (139.2 KB)

1 Like
16

Looks good in my opinion. I was concerned at first about it being backward looking and the disbursement size, but after looking at data for inputs into the community fund it looks like it increased by 1b coins over the last six weeks, so no concerns on future disbursements being available.

Do you expect this to be the only backward looking disbursement, with the next ones looking at building and improvements to the chain?

17

I am against this proposal.

Just to make my point extremely clear: Yes, I do think that past and current contributors should be compensated for their efforts.

Now, the reasons why I am against this proposal:

  • From the original proposal created by @ek826 we can read the following:

**The grants program does not actually fund anything, just collects proposals, organizes independent reviews, makes recommendations via these reviews, and keeps projects accountable. All community spend proposals still need to go through governance and voting by the community.

From this statement, it is clear, at least to me, that proposals posted by the Terra Grants Foundation are requests by other people/organizations that seek community pool funding. The way I see it, the Terra Grants Foundation is an impartial party that does due diligence on proposal requests, to ensure that the community has all the information to make a decision and, at the same time, that the people/organization looking for funding have equality of opportunity to request funds.

With that rationale, a lot of questions arise: actually who is requesting this proposal? Why Lunc has already being requested without disclosing the due diligence process? Why 750M Lunc? How the people who will compose the Committee will be chosen? What methodology will be used by this Committee?

Again, a quote from @ek826:

Rationale
Current methods of community pool distribution have not been adequately formulated. Historic methods of community pool spending have suffered from a myriad of problems including, nepotism, centralization, poor transparency, lack of accountability, and lack of direction

From the above statement, I see a lot of problems with this current proposal. This is no different than any other proposal made so far with the objective to compensate past and current contributors. In my opinion, before accepting any request proposals, the Terra Grants Foundation should have a robust due diligence process already in place.

3 Likes
18

All we need to fund with community funds is core development ~ if we do that, third parties will come and fund dapp development that will draw people here… and that core development shouldn’t cost a fortune (as most are proposing).

19

Thanks for your input. Yes the post-work acknowledgement will be the only one. Everything else moving forward to building Terra Classic

20

Them: We will help you for free, we will review the work, proposals etc.
Also them: Send community pool to wallet address

1 Like