Loomio
Tue 1 Jan 2019 5:43PM

285 ETH ! What am I gonna do?

L Loie Public Seen by 235

We received a generous donation of 285 Ether and it’s time to decide what to do with it!
Take a look at the proposal.

L

Poll Created Tue 1 Jan 2019 5:45PM

Whatcha gonna do with all that junk inside the trunk? Closed Mon 7 Jan 2019 5:03PM

Tension:

We received a generous donation of 285 Ether and it’s time to decide what to do with it!

Proposal:

Split it down the middle. 142.5ETH to the Giveth DAC with 25ETH converted to DAI and 142.5ETH to the Unicorn DAC, with ½ the Unicorn DAC ETH being converted to DAI. To do this efficiently, we will make a multisig transaction, sending all the ETH to an unused address that Griff controls and then he will convert it to DAI and donate as decided in this thread.

Background:

It would be nice if all of this could go to the Unicorn DAC, but there are some outstanding debts that need to be paid (for instance, backlogged regular rewards for Kay, Bowen, Michael and other unicorns) that would just take too long to be done by the Unicorn DAC. We haven’t really changed our internal habits to account for this new system (we really should be making all our milestones in advance!) so until we do we need to make sure the DAC has some funding.

The Giveth DAC funds can give us some needed runway to fill in the gaps that the Unicorn DAC leaves.

The Unicorn DAC functions as the steering committee for the other 50% of this donation. We have already agreed to this experimental way of delegating funds donated to Giveth, so lets reaffirm this decision here. The experiment is well under way and the Unicorn DAC has been funding milestones for 5 weeks now!

There are 7 Unicorns in the Genesis Herd, so each one would get equal parts ETH and DAI (with Bowen’s held back until it’s official).

Results

Results Option % of points Voters
Agree 75.0% 6 D KI GG K BS MR
Abstain 12.5% 1 JF
Disagree 12.5% 1 PL
Block 0.0% 0  
Undecided 0% 37 YM Q AS AB E AA A R C EAD A OJ V G J C J PP R GS

8 of 45 people have participated (17%)

JF

Josh Fairhead
Abstain
Tue 1 Jan 2019 6:16PM

I don't know but have clarifying questions that would help me in forming an opinion: Why is it the right time to move the funds now? (Its often best to make decisions only when they need to be made) What was the donations intent? If for general use; how diversified is the bet? What are the risks:reward? Closing the loop is it all still aligned with the donations intent?

BS

Bowen Sanders
Abstain
Thu 3 Jan 2019 8:29AM

I think I needed more clarification before I can vote on this one either! Are we eliminating individual circle budgets entirely now?

K

Kay
Agree
Thu 3 Jan 2019 11:53AM

I agree with this proposal insofar, as it seems like it would ease the burden on Griff which seems heavily neccessary right now. As for the numbers - the conversion part really seems to be a bit arbitrary - it would be awesome to find a mechanic here (hedging for security vs speculative risk) as was my opinion in the DAI for reg rewards loomio.

GG

Griff Green
Agree
Thu 3 Jan 2019 1:23PM

i helped come up with this... details in the gov meeting :-D

D

Dani
Agree
Thu 3 Jan 2019 2:47PM

I think this is a clean and clear solution that meets the needs of the Giveth DAC and also kicks up the Unicorn DAC. An added benefit is demonstration of our growth as an organization - the need for a budget management role is a good thing and how awesome that Lanski sees it and would like to step into! Making this first split decision somewhat arbitrarily with the 50/50 is okay for now to me, AND adding more analysis, planning and forecasting for the future is a wise next step.

PL

Pol Lanski
Disagree
Thu 3 Jan 2019 4:36PM

I don't have enough info to vote positively. I absolutely agree we need to pay our debts immediately - so I don't want to be a blocker to that by any means! but the rest I would like to see a bit more rationale / budgeting behind.

BS

Bowen Sanders
Agree
Sun 6 Jan 2019 10:10PM

I think I needed more clarification before I can vote on this one either! Are we eliminating individual circle budgets entirely now? (Edited: changing vote to agree since gov meeting)

KI

Kris is Wed 2 Jan 2019 10:06AM

Answering some of Josh's questions:
- "Why is it the right time to move the funds now? (Its often best to make decisions only when they need to be made)" - Right now Giveth has/had zero funds. We are currently being funded by one person (Griff). So the sooner we decide the sooner we 'diversify' our donations (and don't just count on griff).
- "What was the donations intent? " - As far as I know it was an anonymous donation, no comments. So we assume it's supporting the current goals of Giveth.
- "If for general use; how diversified is the bet?" - The Unicorn DAC creates the diversification/distribution/decentralization, bcs the decision power lies with the Unicorns, not by one delegate (which now mostly is Griff)
- "What are the risks:reward? Closing the loop is it all still aligned with the donations intent?" - Personally I don't see any risk, giving more power to the people forming the DAC creates lower risk and a higher 'participatory' reward for all.

PL

Pol Lanski Thu 3 Jan 2019 7:06AM

1) I'm not quite sure what it means that the Unicorns would get equal parts ETH and DAI... does that mean every week as per the normal UnicornDAC functioning?
2) Why the arbitrary split down the middle? And the deeper split with only 25ETH being converted to DAI for the Giveth DAC?
* For me it is imperative that people always have security on how their salaries are going to be paid, so I would like to see a budget that plans X months of salary for them and, IF they are meant to transition to being funded milestone by milestone by the Unicorn DAC, which I am not sure that's what everyone wants, that there is a plan to do so and everyone knows how it's going to happen, when and WIIFThem.

PS: do we have a treasurer / CFO / master budgeteer role? That's something I can do if necessary!

Load More