Topic: How Does Dash's DAO Work? | DASH: Detailed - page 11. (Read 56883 times)

How Does Dash's DAO Work? | DASH: Detailed

What is a 'decentralized autonomous organization,' how does Dash's work, what does it do, and who can join? You might be surprised at the answers. Join Amanda B. Johnson on this second episode of DASH: Detailed.
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watch on youtube: https://youtu.be/b_hVTRoUrjw

Hey iCEBREAKER, Ryan Taylor joined Dash Core Group in 2016 and has been CEO of the company since last year. Prior to Dash, he used to work as a hedge fund analyst at a $20 billion investment firm based in New York, which is why he has such insights into the traditional financial world. Rayan Taylor believes that uncertainty over regulatory sentiment is what holding back many business from either providing services or accepting payments in digital assets. “Regulators will eventually catch up and provide businesses with the guidance they need to gain comfort with it,” he said.

hey ice, please do not forget; Mr. Ryan Taylor in an interview with Profit & Loss, explained why Dash, in a market that has over 2,000 cryptocurrencies, stands out. He said it has a long history of innovation and one that shaped the industry is the masternodes.

He said: "We were also the first with instant transactions and the first to market with a privacy feature. Additionally, we introduced as part of the protocol governance, explicit governance on the basis of voting - not on the basis of someone's hash rate - from people who are staked in the coin," Taylor told P&L. "We also introduced self-funding, making us the first cryptocurrency that's wasn’t funded through an ICO. I believe we're also going to be the first to market with a truly, username-based system that can be logged into from anywhere," he added.

iCEBREAKER, you have to be fair!! Dash was the pioneer in bringing payments industry's practices to the crypto industry which was otherwise dominated by mathematicians and computer science geeks.

 

#rekt

Get Ready For Take Off! 🚀🚀🚀 The @Dashpay roadmap is here! The #Dash Core team is pushing hard to deliver these awesome new additions! 2019 is going to be the year of $DASH. 🏆💪🤩 True financial freedom!

https://twitter.com/StayDashy/status/1028976997601603585
 

Dash monthly USD request now exceeds 100% of available monthly dash


DCG requested $935k in USD funding for this month ($600k+$210k+$125k). Looking at dash price right now (~$150) means that had dash price been $150 when they submitted the proposals, they would have needed ~6,233 dash (101%) to fund those proposals in their entirety.

DCG has already said (noted in their current tax proposal) that if they come up short on tax funds, they will pull funds from legal, yet didnt include that caviet in the legal proposal for some reason. So if you are a MNO voting yes for legal and no for tax, you might want to read the fine print as that $125k for legal will just be used for taxes.

Also, at current dash price, DCG is not going to be able to meet full compensation funding for current round of funding. Where are they going to pull those funds from? How are they going to make up any liabilities that are created from borrowing funds from different areas? Can they pull funds from other areas without a MN vote? Is DCG going to continue to try to request $600k per month to create a compensation buffer?

The handling of the price decline has been handled extremely poorly. Who should bare responsibility? It does not look like anyone. That does not instill confidence in investors.

Also, what happens next month if dash is still at or below $150? Lets look at the numbers and what we know about DCG run rate and tax liabilities. DCG compensation for $455k is 3033 dash at $150. Tax liability of $90k is another 600 dash at $150. This means that the absolute minimum request from DCG for next month budget with dash at $150 will be 3633 dash, or 60% of budget with no buffer. If dash is at $100, DCG will need 5,450 dash or (89%).

Will Ryan directly addresses this? Probably not. He should have already come out and said that effective immediately he would be not taking salary until dash price recovers and/or expenses are under control with a solid forward looking operational plan.