Dear Stakeholders,
31,500,000 ECA has been transferred from the pre-mine in order to pay for development obligations involving the upcoming fork.
Will this amount be deducted from the 200m that's scheduled to be transferred to the Foundation this week?
On the Foundation...I was under the impression they would be providing some kind of accounting for the funds. To date, they've already spent about 14,000,000, or approx 13% of their initial funds (100m from you, 5m from donation wallet), with no accounting for it, at least not publicly as they'd claimed.
They also said they'd be posting minutes from their meetings, which they've also failed to do.
This lack of transparency or accountibility is really concerning. They've been set up for over 3 months now, so the excuse that it's "new" I don't think is valid anymore.
I think you should reconsider sending any additional funds to the Foundation until such time as they can account for their spending and supply meeting minutes.
By all accounts, you are more transparent than the Foundation, and the premine would be better off in your hands.
I just saw on Discord that Robert claims the Foundation hasn't spent 14 million... Which means he doesn't know what's going on, or its something he doesn't want known. This brings up another question of who exactly has access to the funds and who authorizes or keeps track? If Robert himself doesn't have a clue, the options are
A) they have no real foundation control and it's all a front for someone else actually controlling the funds,
B) they're unprofessional, disorganized, & haven't been keeping track, or
C) they've transferred funds secretly and gotten caught
I can't think of one good, valid reason why Robert himself wouldn't know how much has been spent.
The 31.5 million will not be deducted.
The foundation statutes state that financial reports will be provided within two months of the end of the fiscal year (in their case December 31).
My team has asked me to share the image below with you. It is still in development but should provide the transparency you are looking for when released.
https://cdn.discordapp.com/attachments/417467913168224256/539479418486390795/unknown.pngThank you for your professional, non-condescending answer. I don't ask these questions to create FUD, as Robert has implied in his response, but out of a real sense of concern for the management and direction of the project.
Dec 6th on the explorer shows 5.4m transferred out which is unaccounted for on the sheet the team provided you with?
My other big concern is that the Foundation Board doesn't have the time available to commit to the project. As volunteers, their time is definitely appreciated, however it would appear the Project could be being held back due to their inability to commit more time. It's very worrisome that the responses for why things aren't done always contain a disclaimer that falls along the lines of "we're volunteers, appreciate what you get, we don't have time".
Is there no way that the current Foundation members could assign rights or powers to people such as Master Den and Asmoth who are available more?
Last question... it has been discussed frequently in the past that a way for the community to have more input and voting powers would be implemented, but so far it just seems to be becoming more and more restrictive and exclusive to an extremely small handful of people. Has the idea of a "community run" coin & community voting rights been abandoned? Just as a for instance... the decision to use foundation funds to fund Aircoins is questionable at best IMO. Much more effective forms of advertising they could be paying for.
Thank you again for your professionalism and cooperation.
