Gnobudy Special

I trust the organisations involved to deliver.

I use your wallet and respect what you've built.
But this seems like its just a grant to keep your business going through difficult times without making difficult decisions.
What is the principle dReps should apply to this?
Why is your business special that the treasury should sustain it?
Should all the competing wallets get the same?
It seems like you're asking for a business loan with none of the hurdles that a lender would expect, and certainly none of the financial details or loan guarantees.
And putting your request at 420 feels like your having a joke at the community's expense.

I choose to trust Christian and support what he's trying to achieve with this.

I do not believe that Cardano's decentralised governance can work if proposals like this continue to be submitted.
This is a business funding proposal.
This requires that I, and hundreds of other dReps, make an informed business decision on this.
It provides none of the detailed information that any lender would ask for.
You know this, and I know this.
So the only way you can get funding through this budget process is to hope that a community is desperate enough to waive all the rigorous checks and analysis that any lender would do on you and your company and your ability to do what you say you'll do, and give you the money.
Any other business lender would be able to ask for collateral or personal guarantees, but through this process you obviously hope to get business development funds with none of that risk.
Stop wasting our time.

I like the repayment structure and support Bitcoin defi.

I'm in favour of professional compensation for a professional job.
I have questions around the 'Dispute resolution' mechanism, whereby CC members may vote together to deny payment to 1 CC member. It seems fine while we're all friends and rowing in the same direction. But perhaps there should be another check/balance to prevent abuse of this particular power?

This is a solid proposal. Exactly the kind of thing we need to be doing at scale to compete in a competative marketplace.

I've concerns that some of the actions proposed in the supporting documents are things that could and should be funded through existing avenues, like the existing Cardano Hubs for small meetups, or the allocation for events that has passed the budget.
Despite those concerns I'm supporting this because I've met many of the people involved, and I have confidence that they will do what they set out to do - and we need to support each other doing more things!!

I've engaged with the governance process that got this result and support I the result.

I'm not a Snek holder, but I respect their tenacity.
This will break down barriers, and that will benefit all CNT's.

I don't think this will work, but the community voted to fund it, so I'll support the WA to make that happen.

We just passed an NCL last week with over 70% dRep approval. We now have more work to do with the budget reconciliation process and funding proposals. But some people are dragging up the NCL discussion again and again and now wasting our time with this. Its annoying. Stop it.

This NCL proposal came from an open community discussion. I am concerned that the entire culture growing up around Cardano is one of extreme financial tightness. Its like community members are scoring points for being the most negative about any suggested spending on investment or marketing. At the same time some wail on X about our technology being the best, but they have such a paranoid fear of powerful actors taking their upside, that they can't trust any community organisation to actually do sensible fraud free investments to spread the message that we all have about Cardano. This toxic online environment makes no one want to put their name to any spending that might not fully deliver. This creates a timidity in investment. Out go the innovative and the original, as the only thing that gets passed is low-risk, bland, beige.
The decentralised entrepreneurial spirit gets extinguished.

The proposed NCL's were not adequately informed by an open community engagement process.

I voted NO.


I cannot vote for reducing the treasury replenishment rate when the likely consequence is that it will be used as am excuse to further restrict the rate at which we invest in our future development and growth.

What I mean is this: With so much of the governance discussion centred in X, there has evolved a kind of extreme financial conservatism. The reason for this, I believe, is that influencers and dReps with followers online try to increase their perceived responsibility by advocating for an extremely restricted attitude towards spending money from the treasury. They claim to be the ones protecting the treasury and, by extension, the ecosystem.
One result of this, is that the net change limit (the amount that can be withdrawn in one year) is now set to just under the amount we expect the treasury to be replenished over the year by transaction taxes. Therefore all the amount above this limit is just sitting there, not helping the ecosystem in any way. It doesn’t matter that the treasury is 1.5 Billion dollars, anything above the 350 Million net change limit is doing the same thing, nothing. When these same influencers criticise the budget (which was released this week) they do so arguing that we have to protect what we have. They rarely, if ever, consider the other side of that coin, which is, of course, that they are restricting the amount that we invest for future development and growth.
It is simply nonsensical that the same people who have argued so passionately against Intersects investment budget in order to protect our treasury, now argue that we should cut by half the rate at which that treasury is replenished!
In this climate, where will the discussion be in future years, if we don’t get the much hoped for Ada price increase, when the budget to invest and develop our ecosystem is higher than our treasury replenishment rate?
I think those same voices will continue to portray themselves as financially responsible by arguing for a reduction in the Intersect budget because of the lower replenishment rate. 
My view is that now is the time to invest for the future. 
So I cannot vote for reducing the treasury replenishment rate when the likely consequence is that is will be used to further restrict the rate at which we invest in our future development and growth.

If our community had a sensible and consistent attitude towards the treasury I would have voted YES.

I was a representative at the convention in Argentina, and I know that this constitution is a solid basis for moving the blockchain forward. Because ultimately that is what we all want, although we may differ in our views on how to get there,

It is my view that we need to build certain governance tools for voting , and once built, they accelerate the Cardano Blockchain Ecosystem to a whole new level.

As I write this, there is no community discussion about these tools, I don't know if anyone else in the ecosystem has even considered them, or realised just how revolutionary they will be to what Cardano can be, to what crypto is used for.

I'm posting these ideas here for posterity, I hope you enjoy...

I want to know if there are pyramids on Mars. 

Imagine building a rocket ship to Mars.
Its standing on the platform, and the countdown is ticking,
“3, 2, 1, lift off!”
The control room erupts in celebration, photos are taken, drinks are poured, a drunk Irishman does a tango. 

But the rocket ship remains sitting on the platform. 
No-one seems remotely upset at this, quite the opposite, high-5’s and backslapping continue into the early hours.
In the following days, as the cheering slowly dies, pictures of the finished rocket ship sitting on the platform are broadcast around the world. Earnest conversations pop up about the formation of committees and working groups that will, in just a few more years, figure out how to carry the rocket ship to its final destination. 

None of those conversations are about putting fuel in the engines.
Most don’t realise that rocket ships need fuel. 
Many believe that using fuel would be dangerous.
Others believe that turning on the engines would be counter to the sacred principles of rocket ships. 

No-one knows what fuel makes a decentralised voting system work, because no-one has ever seen one before. 

Right now, only governance actions about Cardano, using Ada, can be submitted. But soon we will build the tools so that any token on Cardano can hold their own votes.

And every token on Cardano will hold lots and lots and lots of votes:

Because the fuel that turns a quirky idea about governance into a global social phenomenon, is “Voting participation rewards”. 

We are going to build a set of tools that allows rewards to be given out to participants, selected at random, who take part in voting.


Voting rewards turn every vote into a community event.  

Once every project and every meme-coin can host their own votes and give their own rewards based on participation in them, the questions they put up for a vote will range from the important to the, quite frankly, ridiculous. 

And thats ok, because what projects building on blockchains really want, are ways to engage with their audience.
When ‘Voting rewards’ are combined with AdaMail, a way of sending email within your Cardano wallet, projects will have a unique set of community engagement tools unmatched in all of crypto. A set of tools that will keep people engaged with their Cardano wallet everyday.

When put together, Cardano will be the go-to platform for new projects to launch, with a direct line to their community and an active, exciting reason to keep them engaged on a daily basis. 

Once we build these voting reward tools for all projects on Cardano to use, every social and economic incentive is aligned for the ecosystem to come alive with renewed dynamism, transaction volume and excitement.
The rocket ship will take off.

I see a future when every day in your Cardano wallet you will see dozens to hundreds of active votes taking place.
I see an incredible experimentation in reward structures, some votes will have one reward, and others multiple rewards, in tokens or NFT’s, RWA’s or event tickets. 
This is a new tool, and there will be a massive variety of how projects choose to structure their votes and rewards.

I see a future where ‘Flash-votes’ become a thing, a project announces a vote at short notice, and the voting window closes in a few hours, so only those who are quick enough to vote will be in the draw; driving attention and engagement.

I see a future where the launch of new tokens comes with the sale of ‘multiplier NFT’s’. These are NFT’s that 10x 100x your chances of winning in that projects’ votes. This will give projects launching on Cardano a whole new revenue stream that is not available on other chains. No longer will they have to sell their own tokens and crash their own price to get the funds for further development, they can now sell ‘multiplier NFT’s’, only on Cardano.

Imagine millions of new wallets being created.
As people new to crypto will finally be able to take part and do something, without the barriers of learning about ‘crypto-farming’, ‘impermanent loss’, or trusting their life savings to an unknown de-fi start up. 

Imagine millions using Cardano for voting every day. 
So when it comes time to run national infrastructure we are already trusted, with a verifiable track record of millions of provably secure governance votes, and rewards.

Imagine millions opening their wallet every day.
So when it comes time to integrate decentralised AI and social media we already have our target audience, in the place we need them to be.
The Cardano wallet will be their new internet browser. 

Voting rewards on Cardano is a behavioural incentive system.

that can remove the traditional barriers to participation in crypto, and this is what turns governance from a quirky ugly duckling into the fuel for a rocket ship. 

Voting rewards are the fuel, and I say we fire up this rocket ship, 

because I want to know if there are pyramids on Mars. 

ps. In the future, when we hold a governance vote, we could do quite a large reward structure, and use it as the basis for a huge ecosystem marketing push...