The first 90 days of grant operation will be completed on the 6th of January. The proposal states that at this time operation will change to sell-side only and proceeds will begin being prepared for dividend distribution, in chunks of 50000 NBT worth of sales. I have no intention of breaking the terms of this agreement, however, I am very much aware of all the conversation that has been taking place on this forum about how protection of the peg should be top priority over things like dividend distribution. For this reason, I have prepared a motion that will extend the dual-side operation of this grant for another 30 days. I would like to encourage everyone to vote for this motion, immediately! If it has not passed by the 6th, dividend preparation will begin. I don’t feel like there is enough time to include more meaningful changes in this motion but this should buy us some time. Lets start the discussion, now, about how this network really needs the grant to change in order to primarily promote the stability and longevity of the peg and I will create a new motion before the additional 30 days have passed.
Begin Motion
Passage of this motion will extend dual-side operation of Proposal to Provide Dual-Side/Sell-Side Liquidity and Shareholder Dividends (amended), Revision 0.1.1, by Jamie Miller, for additional 30 days. All funds will remain available for liquidity operations only. No dividends will be prepared or distributed during this time. This motion includes no other changes to the language of the original custodial proposal. End Motion
I hope that everyone enjoys the remainder of their holiday weekend!
Indeed. My own RIPEMD-160 calculation of the motion text comes out as:
0A4C19B33EB40845268A942067416AF2CCDC4C93
If you calculate it using the text as it appears in this site’s text editor as you are composing the forum post, it comes out differently. My first thought is to attach a text file with the official motion contents, but I don’t see a way to attach a file to a forum post though. I am hoping someone will tell me there is a way to do that. Another approach would be to calculate the hash from the forum post, meaning you post and then edit it to add the hash derived from a copy paste of the forum post as it displays in your web browser.
I have thought about some kind of standardized way to make motion and custodian vote proposals.
Might be additional text box which appears in this site’s text editor where to paste text of your proposal and hash to be calculated automatically. And button to copy motion text and paste it in site’s verifier.
Please accept my apologies. Jordan is correct. I made the mistake of copy and pasting from the first asterisk to the last. I have corrected the OP hash, as well as my comments in the custodial grant thread.
There is only about a week left for this to pass, and after three and half days of voting it only has 13% support, which means it is not currently on track to pass.
If this motion does not pass our buy side liquidity will immediately drop 50,000 from ~300,000 now. It can be expect that it will drop another 100,000 in the coming weeks to around 150,000 total. Right now buy side support is key to our credibility and the strength of the peg. I anticipate that we will make a transition to having the buy side support being provided by LPCs providing their own funds. However, that transition has just begun and is not yet mature. As that transition matures, I expect we will see an increase in dividends and we can revisit what should be done with these funds then.
For now, I think it would be unwise to distribute half our buy side support as dividends. I support this motion.
Been voting for it. This mostion and several other have much higher percentage in coinday destroyed (CDD) than in % of votes. I guess this means that quite some shares are voting after a long sleep or a lot of shares are in huge unspent outputs. Recent diff increase is in agreement with the former explanation.
Yes, the motion has passed. The grant will remain in dual-side liquidity mode and no dividends will be prepared until February 5th, 2015. I will prepare a new motion draft in the coming days to discuss more comprehensive changes. If those changes have not been decided on by January 20th, I will prepare another motion to extend for an additional 30 days.