It’s important to be as objective as possible when reviewing these two proposals. If they are both funded we are obviously increasing the circulating supply and reducing our operating funds, both of which are bad for holders. Selling OTC is not some magic bullet. Including Ventures, and the two proposals in question (if funded), there should be on average close to 2million dollars of XEM Needing to be sold every month in 2019. If buyers are not available OTC, these will be sold on exchange. Also, some buyers on exchange may find themselves being served better OTC, further eroding what bit of a price floor that we have.
NEM Labs have already been working on catapult and have already demonstrated a practical business model for generating revenue. They propose to bring catapult as well as numerous features in for about 3 million dollars (this is already a huge amount!).
NF are proposing to bring us catapult as well as some other vague business ideas for 8million. While I respect the work so far in the NF and support their proposal, in light of the leaner model for catapult development proposed by NEM labs I suggest they redefine the role of the foundation and drastically reduce the amount they are asking for.
These are hard times and most blockchain companies have laid off all but their essential staff. We should be doing the same. All money being spent now should also be assessed in terms of the opportunity cost of spending XEM at under ten cents. It should used primarily to fuel essential development, revenue generating projects and token appreciating projects.
Comparing current expenditure of the NF to the expenditure of the previous foundation is false equivalence. The previous foundation was not strategically organized and it was operating when xem prices were as high as $2. Forget about it. What amount of money is needed to accomplish what specific goals? If NEM Labs can handle catapult, what is the extra 8 million to NF really giving us?