Ethyl - Milestone Adjustment Vote


#1

See the Original Post Here:

As Ethyl’s software has improved and we get closer to launch, it has occurred to us that we underestimated how expensive IoT can really be.

At first, it was me and a few developers, but recently a few business-minded people joined the team and pointed out our miscalculation. The entire funding approved for Ethyl is now worth 100k USD total, which is not even enough to pay for two developers, let alone an entire team (and research, and business-minded people, etc.)

As such, a fee adjustment has been proposed as follows.
Milestone 1: 150k XEM to 500k XEM
Milestone 2: 135k XEM to 500k XEM
Milestone 3: 140k XEM to 500k XEM

Comments on this should be posted here or in our Telegram Group.

Voting will commence once there is sufficient community support.

Thank you!
- Ethyl team


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#2

@jabo38

Proposal and voting will be invalid if price goes up and down
I can not forgive it.

It is better to first establish guidelines for community voting.


#3

It was your responsibility to account for price fluctuations. Not the community fund. Would XEM be handed back if the price soared?


#4

A few clarifications:

  1. So far we haven’t received any XEM (since the milestone hasn’t been submitted for review yet.)
  2. Regardless of whether or not this passes, the project will go on. It’s just much more likely to be a very clean/high quality project if we have more funding.

#5

So far we haven’t received any XEM (since the milestone hasn’t been submitted for review yet.)

Why???
What is being judged?

Community funds have many unclear points…


#6

I am ok with the adjustments as long as there is a crawl-back option in case NEM appreciates in price in the mean time. Proposal is in equivalent $USD amount and that is what the project needs. Proposal should account for some fluctuations but not wild ones. If price goes up project gets less XEM if price goes down project gets more XEM. It only seems fair that way.

Can you post what is the actual USD amount?

Also fair question.
Did any of the projects that were given XEM give any back when price went up 10x?