Hi guys,
Thank you for this, quality posts.
I read a few times what @SCENE wrote, it captures the truth, however unpopular it may be. Respect you for the courage.
We have two public proposals that didn’t pass (Nammy’s plugin and DAOVerse) and one passed (Kronos). I hope one day Nammy, Alchemist and Shady will apply again - it will be our pleasure to see your projects on Function X.
That’s correct.
We have to admit that when we wrote the whitepaper, CSP and EGF was not 100% clear, now it is as what @FrenchXCore wrote and i quote above.
We will produce a report of our company’s holding, EGF holdings etc, staked and unstaked. Many of the addresses are unknown to us hence are public addresses, including institutions that prior owned $npxs and $npxsxem that converted. @FrenchXCore has set the stage of doing such a detailed excel, your effort will be helpful.
EGF can be used for team’s funding, but it is not the team’s fund. If the team wants to use it, we should apply like anyone else.
It is the team’s dream that the current team does not carry the majority of the development and abled people can jointly develop.
Correct, the foundation have used our own money more than we have claimed via governance from the funds (CSP and EGF), including 3-years of development cost, I think it’s important for the team to also put up governance voting to ask for funds one day. It won’t happen this week or this quarter, we will think about this when we do 10x.
We hope to transition into a full DAO one day and have taken active steps towards it. Transferring EGF to CSP will happen eventually but not this quarter.
- Action 02: Accelerate & fund private & community developments, and make all projects public (FxWallet, FxExplorer, etc.) to allow for community-driven developments and bounties.
A lot of code are public in github, please fork, contribute and apply for EGF. I’ve said here, here, here, here that we need developers and non-developers. Our engineer have also written one of the most detailed guideline in the industry to help you get the funds.
- Action 03: Burn or airdrop the EBT funds and delegation rewards to current non-team delegators. A snapshot could easily be made for that. That would allow to not consider the EBT as team’s.
If in the case it is not spent we should make a meaningful program to reward it to active participants, preferably on future actions, there is a likelihood that we have from another wallet and the funds was NOT reimburse back to the company.
Agree, I am also against arbitrary burning of tokens, unallocated tokens can be used in much more meaningful ways, such as performing task that can be rewarded to active users. I am also against overly doing arbitrary random airdrops, it can also be done in better ways.
Finally, thanks for taking time during your festives (Good Friday, ramadans, weekends) on the forum, we are stronger because we have you.