NEM Foundation - Funding Proposal 2019


#194

Hi, I’m reaching out to find out why the vote is required for the NEM Foundation to receive funding. If the wallets (unconventional marketing, operations 1 and 2, marketing) that you guys will use funds from are all controlled by a multi-sig of foundation members, can’t you just take the funds out yourself without asking permission from the community? Or are they locked up and bound by time period withdrawals?


#195

Hi, Spencer. The reason why we are doing that community vote is to get the approval from the community first before we apply those funds from the co-signers. The NEM foundation and the fund co-signers respect the opinion and choices of NEM community very much.

To be clear:
The NEM foundation is not going to get any funding if the community is saying NO to that.
On the other hand, even though the community is saying YES to the proposal, we still need to get the final approval from the co-signers to get funding.

Hope this explain your confusion well.


#196

Hi, Spencer. The reason why we are doing that community vote is to get the approval from the community first before we apply those funds from the co-signers. The NEM foundation and the fund co-signers respect the opinion and choices of NEM community very much.

To be clear:
The NEM foundation is not going to get any funding if the community is saying NO to that.
On the other hand, even though the community is saying YES to the proposal, we still need to get the final approval from the co-signers to get funding.

Hope this explain your confusion well.


#197

If the community vote Yes, I don’t see a reason of the cosigners deny the releasing the funds ASAP.


#198

We can only hope for the best!


#199

Here are a few notes to the election.

  • Take your time in the decision-making process.

  • Inform yourself enough about all projects.

  • Follow the discussion in the forum.

  • Let your feelings out, and decide for the future.

  • To all involved actors, do not forget, this is not about personal success, but about success for all of us.

Good luck and hopefully God blessing for the future.

これは選挙へのいくつかのメモです。

意思決定プロセスに時間をかけてください。

すべてのプロジェクトについて十分に理解してください。

フォーラムの議論に従ってください。

あなたの気持ちを出して、そして未来のために決めなさい。

関係するすべての関係者にとって、忘れないでください、これは個人的な成功に関するものではなく、私たち全員にとっての成功に関するものです。

幸運を祈り、そしてうまくいけば、神は未来のために祝福します。


#200

Maybe I’m wrong in this assessment, but it appears that Foundation and other entities did not liquidate more XEM reserves for fiat at key times, such as the Coincheck hack, when it became clear the stolen XEM were going to flood the markets.
And again when markets were giving obvious signals, such as the death cross in March 2018.
And then again during Consensys, when XEM temporarily doubled in value, but was still far from achieving golden cross.

Now moving averages are reaching a pinch point, with golden cross likely to visit XEM the first half of this year. Volumes are increasing, and volatility is minimal. LTC, ETH, and other prominent cryptos are in similar situation, with 50 day moving up towards a falling 200 day.

Catapult will be a significant catalyst for XEM price action. And fundamentals are strong throughout the crypto-sphere.

It would be frugal to take market conditions like these into consideration when spending the limited XEM reserves that exist. $1 spent today will effectively be $10 in the future.

Right now is arguably the time that critical NEM entities should be accumulating XEM, to fill their reserves, to sell during bull, so that survival during the next bear cycle in years ahead, isn’t so questionable.

But now we are in a position where XEM reserves need tapped, to accelerate NEM development and adoption, while at the bottom range of a market cycle.

It would be good to have a plan beforehand. EG. if we reach 15 cents, we sell X amount. If we then drop back to 8 cents, we rebuy X amount. If we hit 50 cents, sell Y amount to cover expenses for T time. …

A plan like this is one of the most immediate things that can be implemented to conserve XEM reserves and increase Foundation & Labs sustainability.

After much review, I’ve decided that I can support both proposals, although not conclusively, as there may be details that need cleaned up after the fact.
The plan forward isn’t entirely clear, but I feel that trust can be extended to some degree.

After polling, if proposals are approved by community, I would hope there would be coordination between parties to form a plan of action, establish a joint contingency plan, and further reduce expenditure as realistically as possible, especially in the short term. Even if it means reduced pay until markets recover.

Also, to limit risk and liability, funds probably should not be issued in lump sums post approval. There should be some sort of financial oversight.

How this would be done, I don’t know. Maybe a joint SRO? Self regulation between NF, NV, and NL? Or NF, NL, and core devs? With each party having to sign off before any one entity receives they quarterly allotment?

I’m starting to just throw ideas out there, and these details can be shored up after polling. So I’ll wrap this up by saying: At this point, unless there is some significant reveal I believe I will be voting yes to both proposals, but leave full veto and amendment power to core devs.

Some of the points I’ve made may have already been addressed. There is so much documentation to read, history to recall, and other dynamics - that it’s hard for the average community member to make a fully informed decision.

Things do seem to be improving, though. Thanks to all who have contributed.


#201

The three projects should be as independent as possible. But that’s a good point.


#202

NEM is moving to a new open source project model run by a (PMC) which is a Project Management Committee which is independent of the Foundation and NEM Labs. The beauty of this design is any entity or org in the NEM ecosystem can contribute code and have it on the NEMtech github. Of course it has to be good code and a valuable contribution to the community. We don’t want 10 crappy paper wallet generators on there of course. So in someways, having a nemtech github will make it much easier to see who is working on what and we will no longer have 4 PHP SDKs or 3 Javascript SDKs and so on. We will just have the one great and official Javascript SDK and that could be contributed by NEM Labs, or ProximaX, or NEM Foundation, Tech Bureau or any other company in the ecosystem. In addition, any other company will be able to contribute code to the nemtech github (again assuming it is a good pull request).

That said, as we are working towards building code that gets contributed to the PMC, we will be reaching out to each other to make sure there are no major duplications.


#203

Slide #28 - Request for Proposal

Proposed suggestion:

In order to obtain an objective review of proposals submitted, there should be a committee of at least 3 individuals to review ALL proposals submitted which have not been eliminated due to not meeting the criteria of submission.

The committee would collectively agree upon the Top 3 proposals and submit a recommendation to the CTO / CFO for selection. A one person review has the potential to lend it’s self to biased recommendations.

**Also - RFP criteria should be clearly defined with a checklist in which the respondent is required to meet. Not submitting a proposal on time should NOT be the only criteria in which a respondent is eliminated.


#204

Why?
If funds are not community funds it’s up to co-signers decision if accept or not community voting. They for sure take into consideration result but if voting will be accepted it doesn’t mean automatically that funds will be released.


#205

Who said the funds are not community funds? Who owns nem? Who owns the funds? The co signatures or all the stakeholders and community with POI? Why should be a VETO, totally against Nem and blockchain values?
Cosignatures are guardians, keepers or a security layer of the funds, but IMO they should accept the community decisions.


#206

Financial Slides:

There seems to be a duplication of resources across functional areas. Example: Slide #44 - line item #11 - Website Development
Slide #48 - project budget - line item #7 - Website Design

Are these resources duplicated? Are these positions on-going full-time FTEs or contracted resources as needed?

Suggestion:

By allocating funds to a resource pool rather than dedicated FTEs would allow for more flexibility to meet project demands.

Example:
Tech writers and website designers/developers are needed during a certain phase of a project and not always necessary for the complete lifecycle of a project.

By creating a Resource Funding Pool and a vetted Resource Bench for skilled individuals, allows greater flexibility to meet a projects demand for certain types of resources. If a project is close to delivery and could pull in delivery timelines with an additional developer, it could be accomplished via a request and that request could be fulfilled from the resource funding pool and the resource bench.

Going this route also frees up vetted qualified resources with a needed skillset to be allocated to a project which enters the phase where the resource is needed.


#207

Voting has started. Please vote.


#208

John fenley( pontifier) spam Nano wallet 2.3.2


#209

Hi,
I just voted, but my weight percentage was only 0,00152%, where I have 0,167% of all NEM coins?
How come my importance is so low? Ha sit to do with harvesting and is harvesting still possible?


#210

would you mind sharing your address? I can check on the block explorer.


#211

I think it doesn’t matter anymore, I voted and we cannot change anything.


#212

Hello.
It takes a lot of time to load spam.
I already completed the voting, but is there a way to avoid this in the future?


#213

Yes. When I first designed the Voting Center, there was actually a tab called “private vote” tab where you would enter the voting poll address. In the case of the NEM Foundation vote, that address is NARYS5WOBPLHFRTVTAZKTF7UK3PVBB4N7CBIRDOI. We can always bring back that private tab vote and then a person can manually search for the polling address and it will instantly load.

We removed the tab because that feature wasn’t ever used. But I guess it is time to bring it back now.