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?31,500,000 ECA has been transferred from the pre-mine in order to pay for development obligations involving the upcoming fork.
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.
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.
