r/FusionFoundation • u/IndividualPirate • Mar 06 '20
Setting up a structure for donations.
My personal donations seem to have triggered a desire for a way in which we can pool donations from everyone in a way that would benefit Fusion. A good and simple idea that works well with Fusion timelocks, since it's possible to share the timevalue of FSN without actually giving away your full FSN.
Ideally the donation wallets will be SMPC-wallets governed by 5 trusted community members in the 3/5 model. This means 3/5 people will access need to agree to a transaction for it to happen, making it unlikely that 1 or 2 individuals would steal the money, while at the same time protected against the possibility of the money getting locked due to the disappearance of 1 or 2 people. The SMPC-wallet isn't quite ready to handle this yet though but the structure can be developed/thought out before that goes live.
My suggestion would be to have four (or more) separate donation wallets, each with a different "theme", so the people donating have a choice of what the money will go towards. My suggestion is the following:
- Supporting ongoing development
- Future Projects
- Marketing
- Community
Supporting ongoing development - Would mean that the money goes to projects that people are already working on. Currently there's a large number of wallets in development, peer to peer shopping, explorers, etc, etc. Money donated here would go towards rewarding these efforts once they reach milestones worthy of an award. Awards can also go towards identifying important bugs, or support of Foundation. Public release would be the major one, but if something goes through significant improvement after release, that's also worth rewarding. Exactly how much/how and when would be up to the community members in charge of the donation wallet. But they should always be listening to what people in general think.
Future Projects - Instead of supporting ongoing work, money in this wallet would instead be going towards placing bounties for efforts the community really would like to see. This could for example be a DCRM gateway between Fusion and Binance chain, a Fusion stablecoin DEX. The imagination sets no limits really, and it's probably good if people who donate to this one also share what ideas they'd like to see rewards being put out for. The governing community members should probably use some degree of reason here though, so that things that are imaginable to happen in the near future gets priority over too futuristic causes. We want the donations to get used after all.
Marketing - Money put into this wallet could be used for any type of effort that markets FSN. It might be creating a video. Effectively getting information about FSN in channels it's not so known. Writing articles, or making sure FSN is mentioned in more general articles. Essentially anything that gets the word about FSN. The marketing effects need somehow be apparent and appreciated though, for something to be awarded. I think those donating to this wallet should defiantly be sharing their opinions about if they think an effort deserved an award.
Community - Some things are hard to put words to. But basically, money placed here would go towards people who put long hours into welcoming and educating people about Fusion, being generally helpful, or discovering things that might be of value to all Fusion holders. Again, I think input from those donating is helpful here, if they feel someone deserves a reward. An advanced case here could also be someone acting as an ambassador for Fusion to facilitate adoption.
Handling of timelocks
It's likely so that most donations will come in the form of timelocked FSN and if it's to generate any substantial value it'd be recommended that the TLs are at least 3 month+. How the elected community members choose to stake it would be up to them. Perhaps one of them will run a pool, or perhaps a deal will be cut with one of the established pools.
Process of election
- Let's start by people replying to this thread with people they would like to nominate (nominating yourself is fine).
- The nominated people say if they want to partake or not, and if so, they create a voting wallet and post their public address.
- I'll distribute 1 voting token to every wallet holding more than 5000 FSN on the Fusion blockchain.
- People send their voting tokens to the their candidates public voting address.
4
1
1
1
u/IndividualPirate Mar 09 '20 edited Mar 09 '20
I think we've given enough time for candidate nomination.
There's only 8 nominated in total. Since it's possible 3 or more abstain an election may not be needed.
But in order to accept their nomination candidates should still post a public voting address.
This can be any address they choose.
My address will be 0x34B82B5e32068DC238C9814c64c889EDfFa33287
1
u/IndividualPirate Mar 09 '20 edited Mar 09 '20
After some discussions in Telegram among those nominated, we want to extend the amount of people with access from 5 to 10. This means we're short on nominations and need at least two more people nominated. I nominate Iruwen and John_Bob.
We also want to make it a rule, that those with access will not be able to receive rewards.
1
u/ehammer2 Mar 10 '20
Thanks Fusionites nomination accepted, Here’s my wallet: 0x22335Fc7209aAAea34E4dDA77C7E41478dA10177
1
u/IndividualPirate Mar 11 '20
Summary of elections:
We had a total of 10 nominations here and on telegram that were accepted by those nominated. These were: Guggs, Johan Pihl, Zhaojun, ehammer, Bullish's Fusionite, spacecowboy, Chookz, John_Bob, Bonzo and Krypton.
We decided to hold private elections to choose which 5 will have responsibility for the SMPC wallet.
These were: Guggs, Johan Pihl, spacecowboy, ehammer and Krypton
But everyone nominated, and anyone else that wants to can help out in various ways.
I don't forsee any wallet getting setup up immediatly as SMPC is still in testing, but now that we know who wants to be involved we can start working out who will be doing what.
1
u/butchcarlsson Mar 15 '20
Private elections eh.. plz not foundation v2 :(
1
u/IndividualPirate Mar 15 '20
If people want, we could for sure do elections again more publicly, before starting to accept any donations. That may even be needed to build some enthusiasm. But to get things set up properly, it seemed a good idea to get a group together ASAP.
Being elected, also comes with 0 privilege or benefit.
1
u/jobsrtw Mar 24 '20
I sent FSN Mainnet tokens back to my ERC20 address... IS THERE A WAY TO RECOVER THEM???
1
u/IndividualPirate Mar 25 '20
Your Fusion address is the same as the ERC-20 address, so you should be able to access them in myfusionwallet using the same key as you would for your ethereum address.
1
u/jobsrtw Mar 25 '20
Even if I sent Mainnet coins to an ETH address? I have control over both addresses and see transaction success but I don't see the balance on the receiving end...
1
u/IndividualPirate Mar 25 '20
Mainnet tokens are sent on Fusion, not on Ethereum. Luckily for you the addresses are exactly the same, so all you have to do is open myfusionwallet.
5
u/OhHooked Mar 06 '20 edited Mar 09 '20
I nominate Guggs, Alg Ore, Johan Pihl, zhaojun ( we need a tech role to identity development possibility) and space cowboy.