Development fund, proposition for project

This is recycle of “Fazon” project that failed to start.
However, it if far more simplified and will rely on tech savvy individuals from community rather than on democracy.
So, a meritocratic approach with centralized authority in form of a council.

[size=8pt]To see the old threads go here: http://www.peercointalk.org/index.php?topic=3201.0
http://www.peercointalk.org/index.php?topic=3247.0[/size]

[size=10pt]My new proposed name is “PeerTree”.[/size]

This is analogue to Marketing fund, but it takes care of development/technical side of this coin.

The purpose of PeerTree project is to speed up and support the development of the Peercoin ecosystem.

[size=10pt]Organization:[/size]

Just like with Marketing fund, there will be elections for three or four people (from now called “council”) who will handle all things.
Upon election, council will open an Peer4commit project in the name of Development fund where funds will be kept. Mandate of council should not last indefinitely and I guess 6 months is good time frame for first mandate. Any council member should be able to quit anytime and replaced with another elected member.

Charter (not yet defined) should clearly define code of conduct which will naturally be trust based but should limit misuse of gathered funds. Such charter should also define that community comes first and has a say, council should respect wishes of community.

I am not certain yet should council be compensated per accomplished project, but that could come handy as good incentive. I need some more though on this.

Roles of council:

  • Council may use gathered funds to sponsor development of any current Peer4commit project that lacks funding

  • or seek out new and sponsor any project outside the community but which is aligned with common goals of community

  • Council may hire people outside the community to accomplish some task which require special skills and such skills can not be found in the community

  • to succeed with hiring people outside the community council will be free do exchange gathered funds in whatever currency is needed.

  • council should take care to have good reputation as employer outside the community as in way it is representative of community.

  • To make job of council easier, NuBits support should be implemented in Peer4commit.

Roles of community:

  • community is responsible for electing the council

  • is responsible for donating to development fund

  • is responsible for putting a pressure on council to get the job done

===============================================

This is a draft proposal, it may need some tweaks. I hope others will join discussion.

PeerTree - nice name for something that might grow big and wide!

I like the way this proposal unites the consensus of the community (representing the active part of the community) with the organizational efficiency of a council.
I welcome to think of a limited election period.

But although I understand that members of the council are expected to be well-known members of the community, I’d like to bring focus to a mechanism to remove a council member if he/she turns out to be unbearable.
It should be able for council members to step down as well as make them step down.

Upgrading peer4commit to support NuBits would make the donation fund more stable (price wise - unless Nu fails). I hope sigmike or anybody else with appropriate skills can do that. Being able to pay an agreed amount (in USD) would be easier with NBT…

Afair, the fund handling on peer4commit supports multisig, right? That would be a requirement for safe handling of the fund (e.g. if a council member is forced to step down, disappears, etc.)

The projects would be managed on peer4commit as well, right?
That would allow basically everybody to propose projects. The voting would be done here in the forum.

Sounds like a plan!

i like this motion. i believe it is necessary in order to move on :slight_smile:

The current peer4commit enable project manager to do everything (get sponsor, get people, get things done) the council can do except relocating funds across projects at will.

The reason that the Marketing Fund was needed was that peer4commit relies heavily on github to do the internal work tracking and accounting, and marketing activities is difficult to be tracked with github. So fund keepers are created to manage the Marketing Fund.

Since the prpoposed development fund will rely on peer4commit anyway, it is basically several peer4commit project manager pooling their resources together to do their peer4commit work, right?

[quote=“mhps, post:4, topic:3240”]The current peer4commit enable project manager to do everything (get sponsor, get people, get things done) the council can do except relocating funds across projects at will.

The reason that the Marketing Fund was needed was that peer4commit relies heavily on github to do the internal work tracking and accounting, and marketing activities is difficult to be tracked with github. So fund keepers are created to manage the Marketing Fund.

Since the prpoposed development fund will rely on peer4commit anyway, it is basically several peer4commit project manager pooling their resources together to do their peer4commit work, right?[/quote]

Yes, it could be described as pooling of several peer4commit project managers.
However it can also take care of specific tasks which might never wind up on peer4commit and suffer low interest of investors. Also, it can seek out new projects outside community. In a way, it is formal representative of our community to outside world.
What I guess will be major point is focus of development, when the council decides what is in our best interest it can push that specific project (or several of them) to completion in hopefully short time.
It will give us some focus and concentration of resources, in a same way foundation would do.

I think I’ve might have a suggestion.

  • The council is responsible for maintaining a Peercoin “ecosystem roadmap” (for lack of better words). Community may suggest additions and removal of items from the roadmap. This point of the roadmap is to show was steps technologies are necessary to achieve a certain goal.

Such a roadmap could serve as a focal point for the communities cerebral activities. If not everyone agrees on a roadmap, that’s OK too and hopefully that would add value. The roadmap does have to be moderated by someone though, otherwise there can be no consensus. LoL ;). I do think it would be a good way of attracting donations if people can see where it is heading.

Council members if compensated should be done in Peercoin as a CEO of a company gets compensated in shares. The funds council managers manage should be denominated in NBT for stability purposes.

However, I do not see it necessary to provide a financial incentive for council members. They already have one! They likely have a significant investment in Peercoin, which is why they are applying for a council position. If not a significant investment they believe in Peercoin for ideological reasons. These are the best motivating factors rather than an extrinsic reward not proportional to their time invested.

Another note, financial incentives are not best for promoting innovative work. They are a better motivation factor for repetitive tasks.

Successful counsel member will have the benefit of their work being recognized by a bright community. Their talents may be highlighted through this role leading to financial opportunities in new ventures. We have seen this many times before. This also demonstrates the importance for counsel members to be able to step down at any given time.

May I also suggest when electing counsel members there should be one or two alternates to fill the roles of counsel members who step down or are expelled. This saves time in electing new counsel members.

My vote no compensation for counsel members.

Quote “In a way, it is formal representative of our community to outside world.”

This is something that Peercoin has almost always lacked except from an occasional interview by Sunny King. I mean look at what Ben’s interview with LTB did for NuBits. It brought new investors in with a price increase after the interview.

Members of the counsel can act as a formal representative of the community to conduct interviews with news outlets. Moreover, they can represent ideas of the community on the marketing front. See http://www.peercointalk.org/index.php?topic=3763.0

Instead of a random community member posting on reddit, a verified counsel member account can represent the community by posting a message derived from the community.

Suggestion:

Council should consist of 3 or 5 members. Multisig should be used to store and spend funds. Either a 2-3 or 3-5 scheme