NBT development fund

As the lack of accounting is not being worked on, what about this:

  • if the NBT address, which contains the development fund, can’t be revealed for whatever reasons, create a grant that creates a number of NBT equivalent to those in the development fund (it must be possible to tell the number of NBT there)
  • the grant will be paid to a multi signature group like FLOT (which needs to be elected first, of course)
  • make JordanLee burn the development fund once the grant passed
  • the multi signature group will pay expenses in a publicly verifiable way
  • you will alwaysknwo the status of the fund
  • you don’t need to disclose the payee, if there’s good reason for that

Result: you’ll have a basic accounting.


Why not just follow park transactions of development fund?

This doesn’t move the control from JordanLee, who isn’t as trusted as he/she/they once was/were to an elected group of delegates.

I won’t go any further regarding trust and why it got lost.
But I’ve read some very concerning posts and combined with the lack of information/accounting, I’ve created a plausible, but awful scenario, which I better don’t post.
It could have a disruptive effect.
The single posts on which my scenario is based on were in the heat of the moment and a lot of people haven’t read them carefully - at least I hope so.

it’s highly unlikely that whatever entity calls itself jordan lee is a scammer if that’s what you are implying. anyway, i misread you, i thought you wanted to do some accounting on the fund up to date.

Maybe yes, maybe no.
Again, this doesn’t help. Let’s focus on things that can help.

I’m more interested in data from the beginning.
The way from here can be tracked more or less.

If Nu is ever getting the peg back and in a far future tries to handle big trading volumes in the BTC/NBT pair, it’s important to know the costs of that. You need data about the costs of a tight peg to get a feeling for how big the spread needs to be to reduce the costs to a level that can be sustained.
If Nu is ever able to ramp the development and marketing up, it’s necessary to know the costs of that in detail, etc.

All this is unknown, because JordanLee handled the development fund, but didn’t provide accouting for it.
But that’sa different story.

It’s a story that made me think about ways to improve this for Blocks & Chains Exchange.
Blocks & Chains Exchange shouldn’t make the same mistake as Nu and start with a proper accounting.
There are development costs already and nobody has a clue how big they are.

Is no one interested in getting control over the financial situation?
Maybe you should just follow @Phoenix - he will save you.
Why should you bother with accounting data and a record of what happened with them when?

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Not defending here anyone, but having a transparent development fund requires that every developer is perfectly comfortable that what they are paid is highly visible, no discretion possible. It requires a lot of explanation around skill sets, experience, complexity of jobs and timesheeting when it comes to rewards etc. Not an easy way to manage things and not that popular by many for all kinds of reasons. E.g. if it is clear that someone has worked at a certain rate somewhere it will be hard to ask more in another job even though you have the skills. Sometimes people take lesser paid, but more interesting jobs.

Again decentralisation and transparency often comes at a price. We need to think whether we can afford it and are prepared to pay for it. Some might not like it. The answer is not that straightforward I believe.

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