Proposal “dashnexus-topup“ (Closed)Back

Title:INACTIVE PROPOSAL - this proposal is invalid for the September budget cycle.
Owner:DashNexus
One-time payment: 200 DASH (41106 USD)
Completed payments: no payments occurred yet (1 month remaining)
Payment start/end: 2018-08-17 / 2018-09-16 (added on 2018-08-15)
Final voting deadline: in passed
Votes: 682 Yes / 251 No / 43 Abstain

Proposal description

This proposal is invalid for the September budget cycle and will disappear from the list on September 16th

Overview

The DashNexus team has been making rapid progress towards delivering on our project and as of today, we are on-scope and on-budget. However, the price depreciation of Dash over the last 3 months has put us in an unfortunate position, where we must return to the network with an additional funding request.

We would like to provide the community with a clear update of our progress to date, our financial records, and our plan for moving forward with proposed adjustments that accommodate the current treasury conditions and should allow us to see the project through to completion.

Without the supplemental funding of 200 Dash this month, we will be forced to take 2 developers off of the project, which will delay development by 4-6 weeks. 

The increased project duration may also result in an increase in the overall cost of development by 10-15%, as we will be required to keep our project managers active longer than anticipated.



Development Progress





Important Links:
Link to original proposal
Sprint Report
Live Leaderboard

Expected vs Actual Payouts
https://i.imgur.com/zJWQeb9h.png

-While our initial proposal included a 10% contingency, the first payout we received was already below that threshold.
-Payouts in Month 2 and 3 occurred at even lower price levels and as of today, we are underfunded by over $81,000.
-Assuming that the final payout for Month 4 occurs with Dash at $150, we will be underfunded for a total of $142,000.

In an ideal world, we would ask the network for roughly 1000 Dash to cover the $142,000 worth of funding that we initially expected by the end of the month. 

However, we are willing to take on personal risk and ask for only 200 Dash this month to allow us to keep the project on track, with the expectation that the remainder of the funds will come from future budget periods. 

Burn Rate Adjustments
We have been able to maintain our planned development schedule by:
  • Prioritizing payments to STRV
  • NOT collecting the ‘reimbursement funds’ that were requested to cover the costs we incurred prior to posting our original proposal
  • Deferring our own compensation
  • Terminating our contract with Blockstate
  • Holding off on incurring legal expenses associated with transferring the ownership of Nexus to the Dash network. 
While these efforts have been enough to keep our project on track so far, the current market conditions do not permit us to maintain our pace without supplemental funding.

Show full description ...

Discussion: Should we fund this proposal?

Submit comment
 
4 points,24 days ago
THANK YOU everyone for the support!!

While we are a bit disappointed in the final outcome, we understand the network's needs to provide funding for numerous other valuable proposals.

The resounding support we received from the community has been a great motivator for our team and we are committed to delivering a world-class product, even if it will require us to shift around some resources and take a bit longer than we originally hoped..

We will be coming back to the network in the following budget cycle with an updated proposal to complete the development of the MVP.

In the meantime, we would like to encourage all those who support the project to make a donation on https://dashdonates.org/

This will really help us maintain our pace and deliver Dash's future governance platform as soon as possible!! Once again, thank you!!!

-Yuri & Jeff
Reply
1 point,24 days ago
Disappointed that this will not get funded despite getting a passing about of votes. It was a hard call this month but I do feel this project would (hopefully still will be) bring more value over the long term than some other options we had. I hope you will be able to continue enough to bring some product forward and keep an eye towards funding for the complete list of goals in another month's budget.
Reply
6 points,26 days ago
Reasons to vote yes:

1. Governance is Dash's most valuable distinction in crypto. Nexus supercharges that.
2. This is a high value, low risk proposal - Nexus has delivered on their promises.
3. Nexus will reduce the amount of low-value proposals through 'concept' voting.
4. Nexus will allow MNOs to solicit work through RFPs, which we've needed for years.
5. Nexus will reduce MNO evaluation time by streamlining the evaluation process.
6. The higher quality contractor platform will attract higher quality contractors.
7. The faster Nexus is built/used, the faster all DAO funds will used more efficiently.

The first and last points are particularly noteworthy. In addition to providing sorely needed features for MNOs and contractors, Nexus improves the quality of *all other* proposals.

The Dash DAO is a virtuous cycle - the rate of value gain increases with price. Nexus compounds this virtuous cycle. It improves the efficiency of our most valuable asset, governance. The sooner we can use Nexus, the sooner we'll see this compounding effect.
Reply
6 points,26 days ago
Easy YES on this one. This project needs to come to fruition.
Reply
7 points,27 days ago
It's true some proposals have a risk of failure. However I strongly believe this proposal is in its own league as Dash Nexus will change the way we will conduct Dash governance and funding for every Dash proposal going forward. The hard work has been done as documented in the video. The Dash DAO is what enables all the Dash funded organizations and projects. We need this.
Reply
5 points,27 days ago
We have gone through so much confusion, drama, and inefficiency over the years for lack of a perfected, all-in-one treasury platform. Thanks to Rango for holding the line for so many years. I fully support Dash Nexus.
Reply
7 points,27 days ago
voted yes
Reply
0 points,27 days ago
Dash Watch August 27th 2018 Report on
DashNexus - Next Generation Treasury and Governance Platform by DashNexus
https://dashwatch.org/files/1535393359255.pdf
Reply
7 points,1 month ago
Guys, if this proposal isn't funded they won't be able to rapidly complete very important work to update what is currently Dash Central, applying many improvements that we now desperately need.

Take a good look at other proposals on DC, because we are in a competitive month - consider the longevity and high value that Dash Nexus will give us. Think about how much nicer the experience of not only posting concepts/pre-proposals will be, and the improved process between proposal owners and MNO's, also that this will be a showcase to all other cryptos demonstrating the evolution of the first functioning DAO in history.

We are for the most part be choosing between funding a month of PR or marketing/outreach (which won't work in this bear market) or funding a key piece of the new Dash ecosystem that lets us show the world what the DAO is, which will last us many years to come.

The choice is easy - YES let's get this done!

Thanks,
Drako
Reply
5 points,1 month ago
Will we be able to vote on concepts so concept owners have a better idea of whether to pay the proposal fee?
Reply
3 points,29 days ago
Absolutely! We will be incorporating multiple features to make the Concept phase more useful to proposal owners. This will not only include the ability to upvote popular concepts, but also enhanced polling functionality, which will allow proposal owners to to get feedback on specific questions.

Long term, we are exploring options for allowing community members to make donations to Concepts to cover the proposal fee. This would allow proposal owners, who have great ideas but insufficient funds to submit a proposal on their own to have a chance at receiving treasury funds.
Reply
0 points,1 month ago
I like this platform and see a need for it.
However, it seems expensive and I am not sure about funding it with such a tight budget.
Reply
6 points,1 month ago
@dashed Your account will be barred, if you continue to post profanity and conduct personal attacks here.
Reply
3 points,1 month ago
I'd just like to add that I'd prefer every MNO can say anything they want as long as it's not illegal. I want to be able to sample the sentiment, no matter what it is.
Reply
1 point,1 month ago
It is an unfortunate fact that, in their efforts to combat trolling, dash communities became aggressively hostile to all criticism, even valid.
Reply
-2 points,1 month ago
How about you ban everyone that conduct personal attacks? Why just me? You never post anything in this site that looks like shit for 3 years, and when you do you post a threat to ban just me but not everyone else? Read this: go fuck yourself. This attitude applying rules only to certain people is the reason the Dash community is such crap.
Reply
5 points,1 month ago
DashCentral is serving the community free of charge since years. So given the amount spent by the budget system on DC (0 DASH) it serves the community quite well.

I agree with you that DC needs a refresh. That will be done with DashNexus for half a million USD and that step is utterly important.

With regards to your question to the rules: You are the first MNO beeing barred on DC for profanity. Please remove your masternode(s) from DC monitoring service and refrain from using this free service. I will remove your node(s) from DC monitoring service after 08/28/2018.
Reply
-4 points,1 month ago
I don't see you looking after all the personal attacks I receive after posting valid criticism, so go fuck yourself you fucking hypocrite. Also if you want me to vote without looking at your comments, or without the possibility to change my mind then go for it. I am not changing how I write. I am not violating any terms or rules because there aren't here, @TaoOfSatoshi said it himself.
Reply
5 points,1 month ago
Actually Tao said the following : "DashCentral is not moderated by the Dash Nation moderation team."

Of course rango is perfectly entitled to moderate his own site, if he deems that necessary.
Reply
-6 points,1 month ago
If you want a guy with a lot of free time and many masternodes to become very fucking hostile, you should ban him for personal attacks but not ban all the other dozens of people that threw unwarranted personal attacks towards him. Do it!
Reply
7 points,1 month ago
Voting YES! I would like to state formally that I am 100% behind this project. I posted a question earlier that was not appropriate for this proposal since this team did the responsible thing and cashed in their DASH payment to USD immediately on being rewarded the DASH. The reason I posted the question was that in the above project description it did not specifically state that this team had, in fact, cashed in their DASH for USD immediately on being awarded their DASH funds.

Therefore the reason they are asking for the shortfall is because this proposal was a multi-month proposal and the DASH price fell between the time they were awarded subsequent payments thus leading to the shorfall.

As @EFietskop pointed out below

"The payment was spread over 4 months. If you look at the second table they sold all the Dash within days of the payouts (except for the 4 month because it hasn't been paid out yet). Their entire balance is in USD.

They can't sell the Dash before receiving it"

I apologise if posting my question caused confusing on this proposal. I think this is a fantastic proposal and infact I believe it to be one of the *most important* because it will improve our ability to make better decisions on all proposals once this project is released.

Good luck guys!
Reply
1 point,1 month ago
Looks good. I just fear we might not have enough budget available to fund this right now.
Reply
0 points,1 month ago
I am not sure if it will pass, if not I would suggest that you tell the people you hire which most definitively ask a premium for their work. That they will accepted a delayed payment ?, this should be acceptable seeing this happens all the time.

If they do it will show, that understand, accept and believe in Dash as well. If they don't the probably don't even believe in what the are making, basically guys for hire with no soul. At any-rate we will learn a thing or to about them as well.

At any-rate in 2 month's there should be enough for DashNexus.
Reply
13 points,1 month ago
Apart from continued funding for development by Core, Dash Nexus is perhaps the most important project in the ecosystem. It single-handedly solves numerous problems that MNOs, DCG, and other Community Members alike have identified, and will serve as the flagship presence for the DAO itself, which in my opinion is the crown jewel of the network even more than the technology. As we move in to the subsequent Evolution releases and toward mass adoption and widespread use, we will need an up-to-date, robust, streamlined solution to facilitate all of the operations of the DAO, especially as we begin to incorporate other programs like Dash Ventures. This is critical infrastructure funding.
Reply
13 points,1 month ago
Hey everyone. Chuck Williams - Former UI/UX Tech Lead w/ Dash Core Group, Inc. here. I just want to say that I'm working closely with this team and I believe they are making all the right moves to deliver solid value to the network. I just got off the phone today with the Dash Watch team and we were discussing how Dash Watch and Dash Nexus appear to be addressing the "needs of the polar ends" of the Dash Network proposal flow. Dash Watch has gleaned a lot of valuable information and identified many, many issues with the current proposal process, that Dash Nexus intends to address in the proposal generation process.

Our agreed conclusion is that Dash Nexus appears to be well positioned to implement solutions to many of the problems that Dash Watch has identified by addressing a host of budgetary, planning, market research, strategic observance, and business model construction issues that currently plague the proposal owner population.

I realized during my conversation that between Dash Watch, and Dash Nexus - these two projects are fulfilling many necessary network functions for the Masternodes to properly evaluate, review, and inform themselves about Dash proposals.

For these reasons, I urge you to vote yes for this proposal.

Full disclosure: It is my understanding that the full expense budget for this project including my advisory compensation will be made public soon.
Reply
-9 points,1 month ago
You claimed to have 10+ years of experience in UX/UI but presented to us with the most unusable wallet in the history of cryptocurrencies. You joined Dash when the price of a masternode was $15k but somehow after 10+years of work didn't have enough money to buy one.

Ryan sucks as a CEO but he did well by not renewing your contract. Leave the Nexus team to work alone and do not get involved, nobody wants to see a gender slider there too.
Reply
1 point,1 month ago
Please be respectful.
Reply
2 points,1 month ago
The only thing nobody wants to see are your posts.
Maybe this is a good time to take a break and find some help.
Reply
4 points,1 month ago
Not true. If MNOs are angry, I want to know it. I want to hear every MNO's opinion, no matter how inappropriate.
Reply
2 points,1 month ago
I have never made a secret of my dependence on good designers for my UI/UX implementations. I hired the only 2 designers currently staffed w/ Dash Core Group, Inc.
Reply
-1 point,1 month ago
I didn't say your wallet was ugly, I said it was unusable. It was also ugly by the way, but if you weren't responsible for the design, usability or the actual coding, then what did you do?
Reply
3 points,1 month ago
Early on I worked with Andy Freer & a few other core team members for agreements on direction and strategy while product owning & managing Copay, managing the website, and hiring developers & designers early on (through late 2017) - working to build a Dash Core UX team & practice. Then I transitioned out of Copay product management in early 2018 & pulled more teeth to get focused effort & communication/clarity on Evolution deliverables. I was also very focused on evangelizing Dash & communicating *specific technical knowledge & understanding* with the community at conferences, podcasts, & online, and supported internal blogging efforts & additional two-way communication channels in support of user research. This I thought was a sorely needed skillset (technical communications). All of the results user research of this were collected into JIRA artifcats for internal team review. It was my idea to push for public demos to create internal pressure on deliverables (which was also shut-down in April time-frame). Outside of that, I wrote code, reviewed designs, coordinated with upper management on defining & prioritizing stories & tasks, and managed the JIRA project board. Then, in April, with no notice - my team was reassigned to unknown projects and all my responsibilities were reduced to pretty much nothing. When I tried to contribute I was specifically instructed to go away.

For the record - none of my usability suggestions or plans were ever implemented (except for designs prodcued by Suba & Chris) due to the structuring/organization of the projects & unclear decision-making pathways. I'm pretty sure they & Joshua can vouch for all of this.
Reply
1 point,1 month ago
If only MNOs were selected on their merits and not luck. What have you ever done to positively contribute to the network, "dashed?"
Reply
2 points,1 month ago
Due to budget constraints there seems to be cooperation lately between several budget proposal owners with regards to sharing funding (Kuvacash has mentioned cooperation with Nexus).

Can you please inform us if this is indeed the case or is this funding pure and solely for your own project ?
Reply
3 points,1 month ago
Hi qwizzie,

The requested funds are solely to cover the expenses for the development of Nexus.

We engaged in a discussion with Kuva, Dashwatch, and several other proposal owners to determine what each of our teams could do to limit our ask this month and request the minimum necessary funding to keep our projects on track, without jeopardizing other key strategic initiatives the network has engaged in.
Reply
1 point,1 month ago
Thank you, you have my support
Reply
1 point,1 month ago
Thank you!!
Reply
3 points,1 month ago
Previous posts have said it all. 100% yes. The Nexus team are delivering despite huge constraints on their funding. This 'top up' proposal is a legitimate and long overdue funding commitment.

Walter
Reply
4 points,1 month ago
A critical proposal to allow the Dash ecosystem evolve and mature, delivered by a team that can get it done and make it look great as well. Am already enjoying the benefits of the Nexus web app, and it is an example of great things to come. Let's make sure they have the resources to deliver this, and fast.

Of course it's YES from me, good luck guys, can't wait to see Dash Nexus land!

Thanks,
Drako
Reply
2 points,1 month ago
Yes, because it is such a needed and important addition for the treasury system but want to understand clearly how this became underfunded.
Reply
-1 point,1 month ago
Hi HotFlow,

This occurred because of the drastic downturn in Dash prices experienced over the last 4 months.

Our initial proposal went up at a price of $389/Dash and included a 10% contingency. By the time the first month paid out, the price hit $324, which was already below our contingency threshold. The following two payouts came in even lower...

The total amount received by our team is shown in both the Payouts Table and the Transaction History in this proposal.

While the funds were in our possession, we did everything in our power to process our payments as quickly as possible, so as to minimize the depreciation. As a result, we were able to limit the depreciation of funds on hand to under $5,600. The details for all transactions and balances are shown in the Transaction History table.

Happy to answer any other questions and provide more clarification if something is still unclear!
Reply
-2 points,1 month ago
@DashNexus I am a supporter of your project however I would like to highlight the following and ask a few questions which I hope you can provide answers to.

Why did you not cash in your DASH to USD when you were awarded the Dash? This would have completely avoided the situation for requesting more funds. I have been requesting this for some time on other projects and I notice project owners keep doing this. They say "for tax reasons" however you still need to pay tax anyway. From our perspective it could look more like proposal owners are holding their DASH in the hope that it will go up in price before they cash it in. Then if it does not go up in price they can always come back to the treasury to ask for further funds. This, however damages other projects by taking vital funds away from the. I am supporting of your project but I need to voice this concern because I keep seeing this happen again and again. Proposal owners need to understand we cannot keep making up for shortfalls because they did not cash in their DASH right away. If you expect to spend your DASH in USD (or any other currency) proposal owners need to cash in their DASH on being awarded their projects so that they cannot come back for funds later on. This needs to be the case whether the market is looking bullish or bearish. It does not matter. Funds need to be cashed in on receipt into the currency you need it to run the project.
Reply
5 points,1 month ago
The payment was spread over 4 months. If you look at the second table they sold all the Dash within days of the payouts (except for the 4 month because it hasn't been paid out yet). Their entire balance is in USD.

They can't sell the Dash before receiving it.
Reply
3 points,1 month ago
@EFietskop thank you for your clarification. I have voted yes based on your answer.
Reply
1 point,1 month ago
I think that Dash should be used as a currency, basically that money received from the treasury should be kept and paid to contributors in Dash. If our own projects don't use Dash as a currency then who will? Yes Dash has been more volatile than USD but that's just because we are still in the early days of crypto.
Reply
2 points,1 month ago
@quantumexplorer I agree with this sentiment however the reality is that in the USA people need to buy the majority of their everytime items in USDs. If the price of DASH falls people in US will get caught out and not have the money they need to fund themselves. The problem is that people in US goods and services are in USD. Therefore if the DASH price drops relative to USD, US citizens are out of pocket.

In Venezuela however this is very different. Even if the DASH price falls relative to USD people in Venezuela will not notice it as much because their base currency is the Bolivar. Therefore your suggestion will work best in places where the currencies are weak. This is precisely why I believe that Venezuela and latin American countries are the very best location for DASH to become a working currency.

However you are absolutely right. Whenever we can we must use DASH as a currency. That means if you have the option, choose DASH. If you need to book a flight - use cheapair.com and pay with DASH, if you need to top up your mobile use bitrefil and use DASH. If you need to make a transfer use DASH. We need DASH as a working currency and we need to use DASH as much as we possibly can every time. We need to always think could I use DASH to buy this. What I also do is whenever I see a online store that accepts bitcoin I always ask them "will you accept DASH?" This way we are also marketing the DASH brand by word of mouth.
Reply