[voting closed]: Transferring Marketing Funds to FuzzyBear or dev. project or?

My apologies for the delay, but following up on the discussion here: https://www.peercointalk.org/index.php?action=post;quote=40524;topic=4202.0 and opening a new thread for voting.

River333 and myself have decided to no longer run the Marketing Fund due to a sustained lack of interest and suggested to terminate it as per charter or have someone else continuing it.
Only Fuzzybear raised his hand. He is the only candidate at this stage. But the Marketing Fund Charter as below doesn’t allow the fund to run by only one person.
So basically this means that the Marketing Fund will end and that we need to vote for the destination of the funds (see charter links and extracts below):

Vote 1 and mention FuzzyBear to transfer the funds to FuzzyBear. I understand he will continue a kind of Marketing Fund based on his own terms.
Vote 2 and mention a project from e.g. Peer4commit to transfer the remaining funds to.
Vote 3 and mention a charity of your choice

The votes will be counted as per the process for a very large submission (see below). The voting process closes in 21 days on 27 September 0:01am UTC.

I suggest that if others like FuzzyBear to have the remaining funds transferred that he sets up his own fund and address and promotes this as option 1 to vote for.
Otherwise I suggest to vote for 2 and nominate a project (e.g. one from the peer4commit.com list. When there are inadequate votes for either option River333 and I as the last elected fundkeepers decide where the funds will be transferred to according to the charter. Either River333 or I will count eligible votes and communicate the results in this thread.

Here is the extract regarding the closure:

Closure of Fund The following reasons may lead to the closure of the Fund: - No submissions have been made for more than 3 months - No fund keepers available for more than 3 months - At least 5 Peervoters all vote publicly and motivated for closure of the Fund in the same thread as where the fund has been established.

Remaining funds after closure
Funds will be returned to the donors where they have provided return addresses. Returns will be made based on their share of the remaining funds or as close as reasonably possible by the fund keeper.

When funds can’t be returned, voting will occur based on the process for a Very Large Submission on where the remaining funds will be transferred to. When the number of voters required is inadequate and remains inadequate after reasonable attempts to request to vote, the fund keeper or if not available, a Peervoter chooses from the following in that order:

  1. The funds will be transferred to another fund for the promotion of Peercoin or its legacy if available
  2. The funds will be transferred to a key development project for Peercoin or closely related if available
  3. The funds will be transferred to an official charity

Marketing Fund links and relevant extract:
Charter: http://www.peercointalk.org/index.php?topic=3038.0
Peer4commit page: http://peer4commit.com/projects/96
Forum board: http://www.peercointalk.org/index.php?board=66.0

Extract from charter relevant for the Voting process

Role of the fund keeper
The fund keepers will hold the private key to the Fund. The Fund is held by at least two fund keepers via multi-sig when practically available to them. The fund keepers will ensure that processes in this charter are followed before any funds are transferred. This includes related processes as maintaining a blacklist of voters, inviting voters to vote, inviting submitters to submit proposals and advertising the Marketing Fund as they deemed fit.
The fund keeper is a voluntarily role and is chosen by the community. The fund keeper does not own the funds and is only assigned by the community to ensure the processes in this charter are adhered to. Any costs required for the Fund (e.g. advertising) will be submitted in a similar way as other proposals applying for the Fund. When a Fund keeper can’t agree for personal reasons to an approved submission which followed process in this charter properly, the fund keeper shall step down.
The fund keeper won’t allow submissions for voting if the required funds are not available in the Fund.

Appointing fund keepers
There will be at least two fund keepers and maximum 3 fund keepers. Fund keepers will be appointed according to a similar voting process as Very Large Submissions. Fund keepers will automatically step down after 6 months, but can apply for a further 6 months term without constraints. In all cases voting will occur.
Large and Very Large Submissions may be put on hold at discretion of remaining fund keeper if there is only one fund keeper left.
Fund keepers can step down at any time at their discretion. It is preferred to receive timely notice in order to find another suitable candidate and follow the required voting process.

Voting and Voting eligibility
There are two types of votes;

  1. votes by normal voters (“Voters”)
  2. votes by core community members (“Peervoters”)

Only community members with an active account created more than 3 months before the voting occurs and with a karma>4 may vote. Those are called ‘Voters’. Voters can be added to a blacklist by the community. This may occur when the Voter is misbehaving, or is not behaving as a contributing member to the Peercoin community, spamming, has a purposely created account or has not been contributing for more than 3 months in a row. Adding voters to the blacklist will be done at discretion of fund keepers. The fund keeper may seek advice via a thread in peercointalk.org or r/Peercoin before adding voters to a blacklist.

For the purpose of voting on submissions requesting significant funding another type of voter has been created. These voters are core community members. Core community members have active accounts over 6 months with >49 posts and karma >20. Those are called ‘Peervoters’. Peervoters can only added to the blacklist when at least 5 other core community members request this. Peervoters do have an equal vote weight to Voters except when voting for Very Large Submissions. See Voting Process. Fund keepers will assume Peervoter status during their role even if they don’t match the criteria.

Voting process

  • For each submission there must be at least 8 valid votes by Voters. When there are less than 8 valid votes at the deadline the submission will be automatically rejected.
  • When there is equality of votes, only the Peervotes are counted. When there are at least 3 Peervotes, the result of that would count as the final vote. In all other situations one of the fund keepers will provide the deciding vote to their discretion.
  • For proposals >250 PPC (Large Submission) at least 5 Peervoters must vote to make the voting results valid. All votes count as one for Large Submissions.
  • For proposals >1000 PPC (Very Large Submission) Peervotes will count as two standard votes for Very Large Submissions
  • Rejected proposals can only be resubmitted 10 weeks after the voting or earlier when significant changes to the proposal have been made. Any changes and reasoning needs to be proved to the fund keeper and they will decide at their discretion, which may include a consultation process with the community.
  • Approved proposals can only be resubmitted 10 weeks after the voting if they require additional funding or continued funding.
    Submissions with a request for an amount less than 20 PPC (Small Submission) may be approved by the fund keepers at their discretion without going through the voting process. When deemed controversial or unusual, they will still follow the normal voting process.
    Voting will occur in a designated thread. This will be the thread with the submission or a thread clearly linked to in the original submission thread. A valid vote from a Voter or Peervoter must contain a reference to the proposal and a clear yes or no. All voters are encouraged to add a voluntary explanation why they voted yes or no so future submitters can improve their proposals and assess their chances on success.
    Any alias/person can only vote once. Aliases which appear to be all from one person will be added to the voting blacklist at the discretion of the fund keepers




1 :slight_smile:




That was easy. ;D


Wow thank you all, so nice to see such support from the community :slight_smile: I have a few ideas already and will hopefully be able to set these in motion when I get some time.


Sent from my HTC Desire using Tapatalk 2

  1. Fuzzy seems like a great guy :slight_smile:
    EDIT: like a great bear!


Drum roll please… 1!


Good, a quick count learns that we have at least 5 Peervoters voting in favor of this proposal
So it appears this is going to pass on the 27th (deadline).

@Fuzzybear, now you had some time to think about this, are you are ready to share what you like to do with the fund or do you prefer to wait until you have the funds in your hands?


The #1 Fuzzybear ;D

[quote=“Cybnate, post:15, topic:3629”]Good, a quick count learns that we have at least 5 Peervoters voting in favor of this proposal
So it appears this is going to pass on the 27th (deadline).[/quote]

Missed the whole party!
But, I want to express my deep and enduring appreciation for Fuzzy Bear!
111111111111111111111111111 :pbjt:

[quote=“Cybnate, post:15, topic:3629”]Good, a quick count learns that we have at least 5 Peervoters voting in favor of this proposal
So it appears this is going to pass on the 27th (deadline).

@Fuzzybear, now you had some time to think about this, are you are ready to share what you like to do with the fund or do you prefer to wait until you have the funds in your hands?[/quote]
Thanks for all your votes. The result is clearly that the funds shall be transferred to a Peercoin address in control of Fuzzybear (option 1).
With that the Marketing Fund charter including the voting mechanism and the fundkeeper requirements will cease to exist as per today. No more further requests can be fulfilled.

Unfortunately I haven’t seen a reply on my earlier requests to provide some information regarding ideas to use these funds. I sincerely hope that the funds are not going to end up in another sleeper fund as we have already many of them.
@Fuzzybear, please provide a Peercoin address so the final transaction for the Marketing Fund can be made.

Rest me to thank River333 for their year long involvement and their support in managing the fund together with me. Also like to thank for those who have applied for the fund on this board: https://www.peercointalk.org/index.php?board=66.0 and with that supporting Peercoin and its community.

It is with regret that River333 and I handover the funds and close the Marketing Fund, however as said before we both don’t want to manage or hold an inactive fund and consequently playing a kind of bank. I hope some inspiration from the fund’s charter and intentions can be taken by Fuzzybear or others in the future.

And in the mean time as Sunny always says: Have Fun!

Thank you, Cybnate and River333

The Marketing Fund facilitated a new and better website, and excellent videos from Chronos. We would not have had these, otherwise

I look foward to Fuzzy’s stewardship