Proposal “green-candle“ (Closed)Back
| Title: | Green Candle DFO: Expansion Escrow Service (Audit trail added 2/20/2018) |
| Owner: | greencandle_jeremy |
| Monthly amount: | 191 DASH (8298 USD) |
| Completed payments: | no payments occurred yet (3 month remaining) |
| Payment start/end: | 2018-02-17 / 2018-05-17 (added on 2018-02-19) |
| Final voting deadline: | in passed |
| Votes: | 274 Yes / 328 No / 63 Abstain |
Proposal description
Update
After feedback from the masternodes we have decided that opting for a flat operating cost rate would present a simpler funding target for masternodes to judge the proposal's merits on. If funded, we will run escrow services for contractors at no additional cost to the network. Thanks for your consideration.
Below is an audit trail outlining the payouts for each proposal we provided our escrow services for. It shows the full history of the Dash we received from the DAO and fees charged to proposal owners.
https://greencandle.io/proposal-audit-trail.pdf
It has come to our attention that there is some confusion about the history of Green Candle, how it has been funded so far and what it provides for the Dash ecosystem. We want to take this opportunity to lay out exactly how things have progressed to date, why things have progressed this way, and our plans going forward.
How has Green Candle been funded so far?
Green Candle has been privately funded. All of this funding has gone to providing the operational components of this business.
All Dash that have passed through our cold storage addresses has been disseminated to proposal owners as per existing contractual arrangements, used to pay contractors for services rendered, or held in trust for the network. The reasoning for this is because we were experimenting with different funding models and we did not want to move any funds without consensus from the network. To be clear, all funds that we have collected since the creation of Green Candle remain in trust with Green Candle. It is our goal with this proposal to solidify the terms and funding model that we operate under so that we can either accept the Dash we are still holding in trust or disseminate it to the micro proposal or micro donation platforms.
What does building a digital currency escrow business require?
Building a digital foundation for an escrow business inside the ever changing digital currency ecosystem is not a small undertaking. It became clear to us in the beginning that in order to protect ourselves we would have to undertake a significant infrastructure build out and cleansing to make sure that the base environment for our escrow wallets was clean and could be relied on for our future needs. We can’t speak in too many specifics for obvious security reasons but essentially we maintain remote location(s) with air-gapped machines that we can bundle the transactions on. The wallet addresses used for our escrow wallets are generated offline and then protected by our onsite and offsite data protection systems. Proposal funds flow into these offline cold storage addresses during the monthly operations. When the time comes to distribute the funds to proposal owners we do this by building the outgoing transaction offline and then those transactions are broadcasted to the dash network through a series of secure machines. Building out this environment took 6 months, required acquiring two secure storage locations, and required purchasing all the required hardware to create these backup systems and protection mechanisms. We are very proud of the environments that we have built to protect the networks funds.
Does Green Candle operate any masternodes?
Green Candle does not operate any masternodes. For a short period we were doing some testing for the network and that has since ceased. One of our current frustrations with the Dash masternode framework is the lack of active failover available for the hot end of remote masternodes when servicing the Dash network. As the payment value of each masternode reward continues to grow, knowing that your masternode is online and ready for payment has become essential for all masternode operators.
In the current configurational landscape it isn't possible to provide a high availability setup for a masternode remote end due to limitations of the dash core wallet. For this reason we began testing and developing a solution that would allow for masternode remote ends, to get as close as possible, to a multiple remote end setup. We spent several months testing these theories on testnet and were finally given the opportunity to test them live on mainnet during the Dec-Jan cycle in which we were holding more than 1000 dash in a single funding lane for the entire month. This gave us a great testing ground to prove our work on testnet live in production on mainnet with real data.
During this cycle we were able to perform 2 hot failovers of the masternode remote ends without losing our place in the payment queue. Our first failover happened when we got inside the top 1000 of the masternode list and the second failover occurred when we were at position 250 in the list. Both fail-overs happened successfully and our node was not dropped out of the list. Being able to perform this type of livenet testing with the funds in that funding lane was very beneficial to our research and development departments.
With funding for operational expenses in place, we would be able to continue to formalize these results and others and bring them to the network so that the masternode owners could benefit from this research. We don't have additional funding to do it out of pocket so we have decided to put this additional research on hold.
Why is there a legal fee in addition to monthly funding?
***Please refer to the update above - no additional legal fees will be charged.***
The legal fees are used to cover the direct legal costs of each proposal. There are different requirements depending on the structure of the proposal (ie payment in Dash only, payment in Fiat, partial payment in Dash and Fiat etc). Each type of proposal runs through a discovery process with our legal team. We anticipate legal fees will lower once we have compiled more information to establish the most common practices. We are concerned that without the additional legal fee per proposal, we run into a situation where we can only support a finite amount of proposals based off the current operational budget allocated for legal fees. By asking for the legal fees to be covered on a per proposal basis we ensure that funds are always available to sign a legally binding MOU with the proposal owner.
The monthly expense allows us to maintain a fund that can be used to go after contractors that have acted poorly against the Dash network. Contractors are less likely to cut corners or run away with funds altogether when they realize a legal entity exists that will make them accountable and pursue them through the courts if the need arises. Especially when they realize this entity has the required resources and advisers to purse these issues.
What will happen with excess funds generated by the proposals?
Green Candle will disseminate excess funds from proposals through micro-donation and micro-proposal initiatives creating a positive feedback loop between the Dash treasury system including macro and micro proposals as well as micro donations.
Conclusion
We have often been asked about ROI for Dash to support Green Candle. We think it’s important to look back at what we have accomplished using our own personal funds and limited resources.
In six months we have established a real world entity that will go after contractors who act nefariously with a war chest of resources to make sure they are accountable. No such entity has undertaken that responsibility despite there being clear calls for it in the past.
We have also used personal resources to develop systems that will reduce friction and errors in the proposal submission process. We have donated resources to DashDirect and helped get their micro donation system off the ground. We have worked with ATM manufacturer General Bytes to bring Dash to their platform so it’s supported on all their ATM and POS models. We have worked tirelessly to help Dash achieve first mover advantage as it penetrates Venezuela with Dash being added to one of the largest exchanges in Venezuela through our work with Colibit. We helped Dash launch its first foray into professional sports with the sponsorship of MMA, and now cryptocurrency ambassador, Rory MacDonald became the first professional athlete to accept a cryptocurrency as payment. We have joined forces with Dash Boost to help bring our Grant Center idea to fruition and are excited to see the launch of the Dash Boost MVP product that will bring micro proposals to the Dash ecosystem.
We believe that the results from all the work we have done with our own funds for the Dash blockchain will have a long-lasting impact and we are really looking forward to being able to expand these offerings with a larger operational budget.
TLDR: The purpose of this proposal is to secure 3 months of operational costs for Green Candle Inc. to continue providing escrow services on behalf of the Dash network.
Green Candle works to fill the void that exists in the Dash Network by providing the necessary escrow services and support required to achieve long-term success.
We saw the need to create a bridge between the Dash network and the greater business communities that would help shape the future of Dash. After months of planning, discussion and encouragement from our peers, Green Candle Inc. was incorporated on August 26th, 2017.
As the value of Dash continues to grow, it is clear that trusted escrow services are a required component for its continued success. In our short time, we have successfully escrowed over 4100 Dash on behalf of the Dash Network.
Green Candle protects the network and the proposal owner by ensuring that both parties perform according to the provisions outlined in the signed MOUs. These signed agreements protect the Dash community from being exploited and help to prevent fraud.
We are requesting 3 months funding for operational costs. This will allow Green Candle to scale to meet the needs of the proposal system and its members. We will submit for new funding at the end of the 3 month term giving the network a chance to evaluate our work. This commitment from Dash will allow Green Candle to continue essential services, secure proposal funds and mitigate risk on behalf of the network. We will continue to draw from the initial funds until they are 1 month from being depleted.
Key Points
Value
Proven Track Record
GAP - 2000 Dash - https://www.dashcentral.org/p/dash-gap
General Bytes - 180 Dash - https://www.dashcentral.org/p/gb-201701
Dash Aerosports -1366 Dash - https://www.dashcentral.org/p/gc-dash-aerosports
Rory MacDonald - 330 Dash - https://www.dashcentral.org/p/dash-for-the-belt
Colibit - 74.02 Dash - https://www.dashcentral.org/p/gc-colibit2
Dash Boost - 158.01 Dash - https://www.dashcentral.org/p/gc-dash-boost
Escrow Fee Structure
UPDATE: After feedback from the masternodes we have decided that opting for a flat operating cost rate would present a simpler funding target for masternodes to judge the proposal's merits on. If funded, we will run escrow services for contractors at no additional cost to the network. Thanks for your consideration!
Budget
Administration - 54
Operations - 14
Development - 7
Infrastructure - 6
Legal - 80
Rental Space - 11
Accounting - 5
Insurance - 2
Contingency - 10
Proposal Fee - 5.01
3 Month Proposal = 567 + 5.01 = 572.01 / 3 = 190.67 Dash
Pre-Proposal Forum Thread:
https://www.dash.org/forum/threads/proposal-green-candle-inc.29018/
After feedback from the masternodes we have decided that opting for a flat operating cost rate would present a simpler funding target for masternodes to judge the proposal's merits on. If funded, we will run escrow services for contractors at no additional cost to the network. Thanks for your consideration.
Below is an audit trail outlining the payouts for each proposal we provided our escrow services for. It shows the full history of the Dash we received from the DAO and fees charged to proposal owners.
https://greencandle.io/proposal-audit-trail.pdf
It has come to our attention that there is some confusion about the history of Green Candle, how it has been funded so far and what it provides for the Dash ecosystem. We want to take this opportunity to lay out exactly how things have progressed to date, why things have progressed this way, and our plans going forward.
How has Green Candle been funded so far?
Green Candle has been privately funded. All of this funding has gone to providing the operational components of this business.
All Dash that have passed through our cold storage addresses has been disseminated to proposal owners as per existing contractual arrangements, used to pay contractors for services rendered, or held in trust for the network. The reasoning for this is because we were experimenting with different funding models and we did not want to move any funds without consensus from the network. To be clear, all funds that we have collected since the creation of Green Candle remain in trust with Green Candle. It is our goal with this proposal to solidify the terms and funding model that we operate under so that we can either accept the Dash we are still holding in trust or disseminate it to the micro proposal or micro donation platforms.
What does building a digital currency escrow business require?
Building a digital foundation for an escrow business inside the ever changing digital currency ecosystem is not a small undertaking. It became clear to us in the beginning that in order to protect ourselves we would have to undertake a significant infrastructure build out and cleansing to make sure that the base environment for our escrow wallets was clean and could be relied on for our future needs. We can’t speak in too many specifics for obvious security reasons but essentially we maintain remote location(s) with air-gapped machines that we can bundle the transactions on. The wallet addresses used for our escrow wallets are generated offline and then protected by our onsite and offsite data protection systems. Proposal funds flow into these offline cold storage addresses during the monthly operations. When the time comes to distribute the funds to proposal owners we do this by building the outgoing transaction offline and then those transactions are broadcasted to the dash network through a series of secure machines. Building out this environment took 6 months, required acquiring two secure storage locations, and required purchasing all the required hardware to create these backup systems and protection mechanisms. We are very proud of the environments that we have built to protect the networks funds.
Does Green Candle operate any masternodes?
Green Candle does not operate any masternodes. For a short period we were doing some testing for the network and that has since ceased. One of our current frustrations with the Dash masternode framework is the lack of active failover available for the hot end of remote masternodes when servicing the Dash network. As the payment value of each masternode reward continues to grow, knowing that your masternode is online and ready for payment has become essential for all masternode operators.
In the current configurational landscape it isn't possible to provide a high availability setup for a masternode remote end due to limitations of the dash core wallet. For this reason we began testing and developing a solution that would allow for masternode remote ends, to get as close as possible, to a multiple remote end setup. We spent several months testing these theories on testnet and were finally given the opportunity to test them live on mainnet during the Dec-Jan cycle in which we were holding more than 1000 dash in a single funding lane for the entire month. This gave us a great testing ground to prove our work on testnet live in production on mainnet with real data.
During this cycle we were able to perform 2 hot failovers of the masternode remote ends without losing our place in the payment queue. Our first failover happened when we got inside the top 1000 of the masternode list and the second failover occurred when we were at position 250 in the list. Both fail-overs happened successfully and our node was not dropped out of the list. Being able to perform this type of livenet testing with the funds in that funding lane was very beneficial to our research and development departments.
With funding for operational expenses in place, we would be able to continue to formalize these results and others and bring them to the network so that the masternode owners could benefit from this research. We don't have additional funding to do it out of pocket so we have decided to put this additional research on hold.
Why is there a legal fee in addition to monthly funding?
***Please refer to the update above - no additional legal fees will be charged.***
The legal fees are used to cover the direct legal costs of each proposal. There are different requirements depending on the structure of the proposal (ie payment in Dash only, payment in Fiat, partial payment in Dash and Fiat etc). Each type of proposal runs through a discovery process with our legal team. We anticipate legal fees will lower once we have compiled more information to establish the most common practices. We are concerned that without the additional legal fee per proposal, we run into a situation where we can only support a finite amount of proposals based off the current operational budget allocated for legal fees. By asking for the legal fees to be covered on a per proposal basis we ensure that funds are always available to sign a legally binding MOU with the proposal owner.
The monthly expense allows us to maintain a fund that can be used to go after contractors that have acted poorly against the Dash network. Contractors are less likely to cut corners or run away with funds altogether when they realize a legal entity exists that will make them accountable and pursue them through the courts if the need arises. Especially when they realize this entity has the required resources and advisers to purse these issues.
What will happen with excess funds generated by the proposals?
Green Candle will disseminate excess funds from proposals through micro-donation and micro-proposal initiatives creating a positive feedback loop between the Dash treasury system including macro and micro proposals as well as micro donations.
Conclusion
We have often been asked about ROI for Dash to support Green Candle. We think it’s important to look back at what we have accomplished using our own personal funds and limited resources.
In six months we have established a real world entity that will go after contractors who act nefariously with a war chest of resources to make sure they are accountable. No such entity has undertaken that responsibility despite there being clear calls for it in the past.
We have also used personal resources to develop systems that will reduce friction and errors in the proposal submission process. We have donated resources to DashDirect and helped get their micro donation system off the ground. We have worked with ATM manufacturer General Bytes to bring Dash to their platform so it’s supported on all their ATM and POS models. We have worked tirelessly to help Dash achieve first mover advantage as it penetrates Venezuela with Dash being added to one of the largest exchanges in Venezuela through our work with Colibit. We helped Dash launch its first foray into professional sports with the sponsorship of MMA, and now cryptocurrency ambassador, Rory MacDonald became the first professional athlete to accept a cryptocurrency as payment. We have joined forces with Dash Boost to help bring our Grant Center idea to fruition and are excited to see the launch of the Dash Boost MVP product that will bring micro proposals to the Dash ecosystem.
We believe that the results from all the work we have done with our own funds for the Dash blockchain will have a long-lasting impact and we are really looking forward to being able to expand these offerings with a larger operational budget.
TLDR: The purpose of this proposal is to secure 3 months of operational costs for Green Candle Inc. to continue providing escrow services on behalf of the Dash network.
Green Candle works to fill the void that exists in the Dash Network by providing the necessary escrow services and support required to achieve long-term success.
We saw the need to create a bridge between the Dash network and the greater business communities that would help shape the future of Dash. After months of planning, discussion and encouragement from our peers, Green Candle Inc. was incorporated on August 26th, 2017.
As the value of Dash continues to grow, it is clear that trusted escrow services are a required component for its continued success. In our short time, we have successfully escrowed over 4100 Dash on behalf of the Dash Network.
Green Candle protects the network and the proposal owner by ensuring that both parties perform according to the provisions outlined in the signed MOUs. These signed agreements protect the Dash community from being exploited and help to prevent fraud.
We are requesting 3 months funding for operational costs. This will allow Green Candle to scale to meet the needs of the proposal system and its members. We will submit for new funding at the end of the 3 month term giving the network a chance to evaluate our work. This commitment from Dash will allow Green Candle to continue essential services, secure proposal funds and mitigate risk on behalf of the network. We will continue to draw from the initial funds until they are 1 month from being depleted.
Key Points
- Green Candle is requesting 3 months of funding for operations.
- Green Candle will act an an impartial, trusted 3rd party to the Dash network when asked to provide escrow services.
- All funds for each proposal will be held in their own funding lane. The proposal fee will be made available for return after the proposal passes and the proposal owner has signed the MOU. All remaining funds will be dispensed from the funding lane upon completion of the deliverables outlined in the MOU.
- Remaining funds held in escrow from a proposal lane will be disseminated through micro-donation and micro-proposal initiatives.
- Funds held in trust during a proposal will not be used to operate Masternodes at any time.
Value
- Fully operational and compliant escrow service for Dash blockchain maintained in Canada
- Added layer of protection provided to Masternode network for proposals that are escrowed through GC. All GC proposals require the signing of a binding memo of understanding between the proposal owner and Green Candle Inc.
- First company to handle compliant escrow services outside of Dash Core Group Inc.
- Proven track record handling large, medium and small proposals
- Consulting with top law/accounting firms to get legal opinions on all proposals we handle (Deloitte)
Proven Track Record
GAP - 2000 Dash - https://www.dashcentral.org/p/dash-gap
General Bytes - 180 Dash - https://www.dashcentral.org/p/gb-201701
Dash Aerosports -1366 Dash - https://www.dashcentral.org/p/gc-dash-aerosports
Rory MacDonald - 330 Dash - https://www.dashcentral.org/p/dash-for-the-belt
Colibit - 74.02 Dash - https://www.dashcentral.org/p/gc-colibit2
Dash Boost - 158.01 Dash - https://www.dashcentral.org/p/gc-dash-boost
Escrow Fee Structure
UPDATE: After feedback from the masternodes we have decided that opting for a flat operating cost rate would present a simpler funding target for masternodes to judge the proposal's merits on. If funded, we will run escrow services for contractors at no additional cost to the network. Thanks for your consideration!
Budget
Administration - 54
Operations - 14
Development - 7
Infrastructure - 6
Legal - 80
Rental Space - 11
Accounting - 5
Insurance - 2
Contingency - 10
Proposal Fee - 5.01
3 Month Proposal = 567 + 5.01 = 572.01 / 3 = 190.67 Dash
Pre-Proposal Forum Thread:
https://www.dash.org/forum/threads/proposal-green-candle-inc.29018/
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At GENERAL BYTES we consider ourselves to be cryptocurrency veterans but we did not have that reputation in the DASH community at the time and given that several Dash ATM proposals turned sour before, the Dash community was not immediately unanimously excited about our Dash ATM proposal. (Can't blame them really!)
At the same time, we found that creating a DASH proposal is not that easy for those not initiated in the Dash community and sending in a proposal comes at a considerable (non-refundable) cost so this leaves no margin for errors.
For this, and the reason mentioned above we decided at the time to have Green Candle manage our proposal. They helped us tremendously in guiding us through the proposal process and the escrow services provided by Green Candle helped ensure the Dash community GENERAL BYTES is for real, the project deliverables would be met and basically removed 100% of the risk for the Dash community.
At GENERAL BYTES we think that ideally, all Dash proposals should work this way (escrow) as it ensures all funds are correctly allocated and removes any risk for the community. This will allow newcomers to the Dash community (like us) to contribute without any risk (if they do not deliver, Green Candle will not pay out) and will help attract more companies to the Dash ecosystem. At the same time, escrow will prevent proposal monies being wasted and will ensure that scammers will look elsewhere.
We understand for some the idea of having a centralized company like Green Candle handle escrow in a decentralized network might sound strange but removing 100% of the risk to the community by providing escrow is just too good of an opportunity to pass by.
We are giving this proposal a big thumbs up!
Voting YES. but almost abstained due to the high legal costs (mainly)..but you have done your best to explain.
https://greencandle.io/proposal-audit-trail.pdf
Cryptolib, the humble servant
Really sad to see. I just hope all the projects depending on greencandle will be able to continue without it.
If MNOs were voting in the best interests of dash this proposal would be passing easily, especially after the update and clarifications. What gives fellow nodes?
Walter
That being said I still have many concerns about how Green Candle conducts its escrow (the GB incident specifically) and I hope in the future they bring proposals that are less about marketing to those who are already aware of Dash.
At the end of the day, Dash is stronger with Green Candle out there looking for opportunities and already being set up to deal with the legal and tax implications that pursuing those opportunities may create.
Regarding your concerns over GB, I'm not sure if you read it in the audit trail, but we did not release all of their funds because they were late with one milestone. There are still 90 Dash remaining in trust until it is completed. Here are the addresses verifying this:
https://insight.dashevo.org/insight/address/XvQuRTnEUvBdgeUUn7a4N4mxXRWgTyCG8q - 30 Dash in trust
https://insight.dashevo.org/insight/address/XeNoyvD4VnSvLBQekPHvUSpFfAFdxJ3Cqm - 60 Dash in trust
I recognize that we did a poor job communicating that we did not release these funds because the milestone was not yet achieved. This is one area where will focus on improving immediately.
MNOs should know that we are listening and we will continue to work to earn your trust and support.
fees. This squashes the double dip argument as well as will save the network money in the future.
You have my vote!
It looks like the budget will be tight this month though, what do you plan to do if this does not pass?
I am thinking positively and I will continue to do everything I can to answer questions and make myself available to the MNOs.
-Audit trail is squeaky clean.
-Funds acquired through contributing proposals to the network haven't been touched and will be allocated to projects in the network.
-All private funding so far (out of pocket) and working tirelessly to do what's best for the Dash Network.
-Won't sponsor proposal fees for projects they escrow to eliminate any chance of appearance of conflict of interest.
-Changing model to non-profit to eliminate any waste due to income tax
-I think this is too good so I can see why people have a hard time understanding the situation
Bottom line: Funding this would allow Dash to have a professional, independent, third-party, public-facing entity that can engage with minor and major institutions to grow the Dash Project. It will hold the project owners legally responsible and accountable for 3% of the monthly budget.
http://insight.dashevo.org/insight/address/XxXaoFrYDY7fdYZ1SWYTRCRBigX6Jx1kZD
All Dash that have passed through our cold storage addresses has been disseminated to proposal owners as per existing contractual arrangements, used to pay contractors for services rendered, or held in trust for the network. The reasoning for this is because we were experimenting with different funding models and we did not want to move any funds without consensus from the network. To be clear, all funds that we have collected since the creation of Green Candle remain in trust with Green Candle. It is our goal with this proposal to solidify the terms and funding model that we operate under so that we can either accept the Dash we are still holding in trust or disseminate it to the micro proposal or micro donation platforms.
The audit trail that we provided demonstrates that all funds received from the DAO have either been disseminated to their appropriate contractors, or they remain in trust. This can be verified if you check the addresses we provided at the bottom of the audit trail.
One of the proposals we experimented with charged a fee for escrow. The results pointed out that there were better ways of operating that were more beneficial for the network. A company who is only concerned with charging fees will be more concerned about its bottom line then anything else. If, however, you provide the resources it needs to operate, it can focus on doing its job of making sure contractors do their job.
"This is what dashaerosports posted-*Our proposal was for 4 months. Through Greencandle's escrow service and adhering to milestones and moving average payout based In USD.... we are about to request zero funds for at least 5 more months of continued work for the network. Dash Aero's entire 1 year cost could be within the 4 month proposal from months ago."
This means that Dashaerosports will be paid for more months than sanctioned. Given the kind of roi from that proposal, it should be put to vote.
The Dash Aerosports proposal was presented to the community for $400000 and not 1366 Dash. As an escrow provider, you have no business to be extending contracts and payouts of your own will. If you pay Dashaerosports any more than the $400,000 approved, it will be total breach of contract.
GC has no business to be interfering in community decisions.
We were going to wait till next month for the proposal submission, however we will do that proposal this month to make sure there is no question of our commitment to the original proposal agreement.
Regards,
Scott
I believe what is meant by the quoted statement is that they will be requesting 0 Dash from the network in their next proposal.
The track record on your escrow service remains completely abysmal tbh. You have taken in over 4000 dash in funding and we havent yet seen a single audited account for it. When people asked for accounts, you responded with how selfless you have worked without money and that MNs should look at the public blockchain if they want accounts.
That is the equivalent of telling people to take a flying leap to be honest..
The moment you hear an accountant talking about trust, you know there is something wrong and you still haven't come up with the accounts despite claiming that you will. The so called trust is eroding with each day the accounts are not made public. The money that has gone into your system is not yours and the least you should have done is to provide an updated statement of account to allow proper scrutiny.
There are many escrow options available like theinstantkarmafund and demo, dash core is still doing it. I dont see any of them asking for $130K a month in expenses.
Also the fact that it is ridiculous to spend 130k on escrow and open up an unlimited expense account for your comfort.
I am completely against the treasury funding your proposal and certainly not greencandle, based on your track record so far.
solarguy
How about Core gets multisig working for proposals....
Is there a website that tracks these projects? Like how much is left and how much individual contractors have been paid month to month.
solarguy
I truly apologize if this comes across as rude but just because you are an active part of the community doesn't mean that I will hold my tongue when what I see as a bad proposal is put up to the network.
I would never expect a free pass from anyone simply because we have helped others previously. I want MNOs to understand that GC has been 100% privately funded up until this point. We are not asking to be paid back for the past 6 months of work and personal investments. We have not even claimed a single Dash from the fees we charged. It is all still there and anyone that doubts my statements is welcome to check for themselves on the blockchain. We provided the addresses so there shouldn't be too much difficulty to confirm.
We tested a few different ways of managing proposals so we could figure out the best way to operate and benefit the network. We are here to serve the community and we put our money where our mouth was. We could only afford to do it for so long and now we are asking for funding to continue.
We understand your concern about the lack of transparency, but now that all of the information is out in the open we want to continue the conversation with you to see where else you think we can improve. We have never claimed to be perfect, but we are trying to be receptive to as many community members as possible because we know we are all working towards the same goal.
Regardless of our differing opinions, we are thankful to be able to have a respectful conversation with you, thank you.
I mean GAP reached a huge audience via RT, Scott (Aerosports) just got us FanDuel (among the many other things he has done), and after seeing Rory, Chael put in a proposal that very well might get us coverage in mainstream sports media.
Those proposals have objectively been a success. There may be reasons to criticize GC, but those proposals are not it, IMO.
Yes Scott got us FanDuel, which is great and I happily voted yes on that proposal, but that is an entirely different matter than his proposal that Green Candle escrow'd. I was very vocal in my opinion on that proposal so I won't bother re-writing my criticism of it here.
I am skeptical of how big an impact the Rory proposal had on the Chael proposal.
Perhaps that last point is unfair, but even if we accept that the other points stand and are good enough reasons to vote No.
Thank you for your support of the FanDuel project.
I think its really great that your opinion of our Aero project didn't influence the FanDuel project. I thank you for your open-minded and analytical thoughts focusing on benefiting Dash's future.
Regarding Dash AeroSports; The escrow has proven to be an amazing store of value for the treasury. Our proposal was for 4 months. Through Greencandle's escrow service and adhering to milestones and moving average payout based In USD.... we are about to request zero funds for at least 5 more months of continued work for the network. Dash Aero's entire 1 year cost could be within the 4 month proposal from months ago. (Dash AeroSports at zero cost to Dash)
We've worked closely with greencandle both as an escrow and advisor. We discuss our events and on-going actions not only to satisfy the escrow but also because Jeff and Jeremy have proven to be very affluent business development consultants.
Greencandle has made our (Dash Aero) success their quiet successes as well. There is a lot going on unseen and unmentioned. Greencandel and Dash AeroSports are working 7 days a week to help what we all want.
Greencandle requested and provided guidance for Demo Incubator Inc. to enter their escrow space. Their statement to my "why" was, "to provide decentralization to the escrow system." These guys are truly living to our (dash) values!
Dash Aero did not believe we needed to escrow following a 6 month over-achieving proposal. However, GC and Dash Aero went against the easy route to show "store of value" within the escrow system. With so many proposals with great intentions, fizzing out to non-production, GC provided an example of the payment for work, not a payment and then hopefully work.
Greencandle did not know I would post this. I was worried about perceived "conflict of interest". However, honesty should never be considered a "conflict of interest". Greencandle made Dash AeroSports stronger and benefits Dash greatly.
Regards,
Scott
@DashRacer
And don't get it twisted, I think escrow is incredibly important for the Dash ecosystem, but I have huge concerns about how Green Candle conducts their escrow services.
For Instance, scroll up and read from the January 23, 2018 post from Cryptoteller and then read until the end of the thread, then with a straight face tell me that is a good provider of escrow. They just get defensive and refuse to take any responsibility for one of their projects being completely bungled.
https://discordapp.com/channels/370148711088652288/392505485988986880
Then add to that that we as a community have no idea if/when payouts are happening, what milestones are checked for, or any details at all.
I should also be able to go to your website and see the full list of your projects, historical and current, along with timelines and milestones met, in near-real time.
It should be very transparent, to the point someone like DFN could write news articles based on the fully-transparent progress.
The Dash network should be receiving some great information from so much money.
I'm voting No today.
I hope that you have time to review it and reconsider your vote. I want to earn it.
There is also a new thread on dash.org with someone proposing a system of decentralized exchange. All these efforts are going to evolve, eventually resulting in a very efficient, transparent system that provides rock solid accountability.
Surely you can see the big picture here.
Voting No for now.
During all that time the operating costs have been paid by them from their own money. So they are now asking for funds to pay for operations.
I think making this distinction between funds gotten through escrowed proposal and funds for operation costs makes sense. Since you need a safety buffer for the former if you have the distinction that is not an issue as any excess will just go into a future proposal or micro proposal.
Im sorry but thats called double dipping one or the other only
I think it's better to have a legal fee per proposal as those costs are directly linked to the proposal. And pay for general operating costs through the treasury.
It should be one or the other
1) fees from escrow
2) from treasury
Not both.
And then they ask for 135k a month to fund their operations when clearly as ive mentioned before and will mention again they are a FOR PROFIT business.
I do appreciate them finally being transparent about their fee structure.
1) no measured ROI on past projects
2) no statements of account ever provided.
3) intentionally submit proposals last minute to deprive MNO time to do their due dillegence
4)the whole time they've claimed to be so "pro-dash" and funding everything themselves now there asking for 400k over 3 months
5) I have proof that greencandle intentionally submit proposals with a larger Ask.
6) they claim funds will be held in trust and not used to run an MN that is false, as jeff aka coingun has confirmed last time.in public chat that they where running and MN and apparently asked to do so by core
i urge all MNO to take a serious look at this proposal and its skewed offerings and vote NO