Over the last few months LUNC has been reborn from the ashes by volunteer developers using their free time to code, we know this would be a temporary emergency service to revive the Blockchain, it will come at a time of exhaustion for our dear developers as they have to work on their formal jobs and later in his spare time to code for LUNC leaving no time to take care of his health and be with his family.
After the implementation of the 1.2% tax, we successfully moved from the emergency phase to the reconstruction phase.
Given the situation, it has become clear that funding is now required for the ongoing maintenance of the Terra Rebels organization to continue providing high quality support to the community and establishing independence from centralized resources, we need to compensate these developers in order to lessen their workload on the their formal jobs, starting to dedicate full time, part time or just their free time to those who cannot be separated from their formal employment.
We need to create a community fund to finance new on-chain utility projects to increase on-chain transactions and thus increase burn. (upon community approval).
The donation program (https://opencollective.com/terra-rebels) is not achieving the desired objective and we cannot count on it having a fixed income, therefore seeking to support our organization the most effective way to acquire funds for development would be a percentage of the tax burn.
With that in mind, I propose to rescale 0.1% of the burn tax to the Community Pool in order to reach a budget of 667M LUNC per month (~200k USD at current prices of 0.0003), where the funds raised will be used to pay developers, infrastructure, support to DAPPS, seeking stability and financial independence.
Even if it is necessary in the future to reduce the tax percentage, it would easily be suitable for new tax burden. Let’s assume that in a tax reduction to 0.6%, in the future to encourage the volume in the chain (ON-CHAIN) we can keep 0.1% for the community pool without affecting the funding because we would have a greater volume in the network.
I want to make it clear that the financing of the community pool will be done through the On-Chain tax, and if any CEX in the future implements any OFF-CHAIN tax, it must be sent to the burning address terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu.
The community pool is already integrated into the governance system. Thus, any withdrawal of funds can be enacted using the existing governance system with a majority vote from the community.
Developers will be paid via LUNC, based on their dollar salary, tax-free for individual wallets. All members should do their own extensive research on tax laws related to receiving funds in this way.
ESTIMATED EXPENSES WOULD BE DIVIDED AS FOLLOWS
Asset distribution to team members
At the end of each month, the team leader must account for what has been developed by their team member, must produce a list of achievements with contributions from active members at the end of the month to be viewed by the community, the teams held a vote on who contributed to your TR team. Active members will be eligible for this distribution, if a member is not active in that month they will not be eligible to receive the assets.
A team member (1, 2, 3, 4, 5, 6, 7) can switch teams if they have a spot on the desired team.
The final distribution must be discussed and agreed upon by the team representatives. In case of discrepancies, the list can be returned to the team for further analysis.
If at any time a TR member completely dissolves, payment of assets proportional to service rendered will be made at the end of the month along with other payments.
- The blockchain is not fully decentralized as we rely on TFL for the lcd.terra.dev endpoint. From discussions with TFL, maintenance costs are 300k USD per month. We are talking to Setten and Allnodes and we can host the LCD/FCD endpoint with 10x redundancy with Allnodes at an upfront cost of 5k-10k per month. This includes all software and hardware maintenance. If TFL discontinues lcd.terra.dev, we are prepared and may have to use reservations if traffic increases. Eventually, the goal is to completely decentralize endpoints from a single point of failure. Hosting these endpoints will eventually be handed over to the validators of the active set.
Refund: Of various costs including testnet, website, email, etc. Any fees incurred for services paid by developers can be refunded here and invoices will be required.
Reservations: would be used for any pending costs required, increased traffic to the LCD terminal, among others it deems necessary.
AT THE END OF THE MONTH, THE COMMUNITY MUST BE RENDERED ACCOUNTABILITY OF THE FUNDS USED, WHERE THEY MUST PASS A GOVERNANCE VOTE TO APPROVE THE RENDERING OF ACCOUNTS.
WE MUST REBUILD TFL’S INDEPENDENCE: ACCORDING TO EDWARD KIM (Burn and Rebuild Luna Classic. On September 15th, Terra Classic… | by Edward Kim | Sep, 2022 | Medium) TFLÉ POLICY END SUPPORT TO SUPPORTING PUBLIC INFRASTRUCTURE TO THE CLASSIC MOON.