elective-stereophonic
elective-stereophonic
NXT Community Funds Committee Introduction singapore
Please login or register.

Login with username, password and session length
Advanced search  

News:

Latest Nxt Client: Nxt 1.11.15

Author Topic: NXT Community Funds Committee Introduction  (Read 2072 times)

EvilDave

  • Hero Member
  • *****
  • Karma: +341/-40
  • Offline Offline
  • Posts: 1789
    • View Profile
    • NXT Foundation
NXT Community Funds Committee Introduction
« on: January 28, 2015, 07:27:06 pm »

Nxt Community Funds Committee, as of 25-01-2015

Welcome to the main thread for the newly-elected Nxt Community Funds Committee (or CFC from now on).
The CFC's function is to control the disbursement of the NXT funds held for community use, this includes payments for the dev team, as well as other projects.
Anyone can apply to recieve funds from the CFC for assistance with a NXT-based project that will potentially benefit the entire Nxt community.

Background:
When Nxt was created in the Fall of 2013, some stakeholders did not claim their initial share of the NXT that were released to investors.
After some debate, it was decided to use these 'unclaimed coins' as a central community funds to support Nxt development. Over the previous year, the funds were controlled by 3 committees, responsible for Marketing, Technical Development and Infrastructure.
These 3 committees have now been replaced by the single Community Funds Committee, in order to streamline the decision-making and administrative processes.
Here are some of the discussions that lead us to here:

https://nxtforum.org/general-discussion/new-community-funding-committee/
https://nxtforum.org/general-discussion/%28vote%29-do-we-need-to-re-organise-the-nxt-community-committees/
https://nxtforum.org/general-discussion/new-community-funds-committee-%28cfc%29-members-self-nomination-thread/

Structure:
The CFC consists of 6 people in total:
One Commercial representative, one Technical representive, a Chairperson, two Treasurers and a Secretary.
The Secretary and Treasurers are, in principle, non-voting positions, but they may be asked to vote in certain circumstances.
Minimum quorum for voting purposes is 3 people, a simple majority (ie 2:1) will be enough for approval of a proposal.
Each voting position also has an elected backup member, who will take over the position if the current holder can no longer fulfil their role on the CFC.
In the event of a vote of 'no confidence' in any member of the CFC, all 5 remaining members will have to vote unanimously to sucessfully pass a no confidence vote and remove that person from their CFC position.

Applications for funding to the CFC:
If anyone feels that they have a project that will benefit the Nxt community in general, they can ask the CFC for help with funding. I need to emphasise here thet the CFC should be the one of the last options to be considered for funding, most projects should be able to get funding from individual investors or NXT-based businesses. The only current exception to this are the ongoing payments for the dev team.

Personnel:
The results of the CFC election are available here:
https://nxtforum.org/nxt-community-votes/nxt-community-funding-committee-vote/

After some re-arrangement, the current CFC personnel are:

Chair: EvilDave

Commercial: Damelon

Technical: ChuckOne

Treasurers: Pouncer and  Dom P.

Secretary;  Cassius


The reserve representatives are jl777 and jones for the technical position, and Dom P as CFA Consulting or FuManchu for the commercial position.


The CFC is currently working on transferring the old funds structure (left over from the Marketing, TechDev and InfCom funds, plus the split caused by the Klee hack) into the 2 accounts controlled by Pouncer and Dom P, as well checking that all of the numbers add up correctly.
 

« Last Edit: February 07, 2015, 09:26:51 pm by EvilDave »
Logged
Nulli Dei, nulli Reges, solum NXT
NXT Donations: NXT-BNZB-9V8M-XRPW-3S3WD
We will ride eternal, shiny and chrome!

Cassius

  • Hero Member
  • *****
  • Karma: +207/-18
  • Offline Offline
  • Posts: 2459
  • Rather be a pirate than join the navy
    • View Profile
Re: NXT Community Funds Committee Introduction
« Reply #1 on: January 28, 2015, 07:29:58 pm »

Very watching.
Logged
I head up content for BitScan, crypto business hub.

jones

  • Hero Member
  • *****
  • Karma: +310/-8
  • Offline Offline
  • Posts: 1043
  • write code not war
    • View Profile
    • jNxt
Re: NXT Community Funds Committee Introduction
« Reply #2 on: January 28, 2015, 08:35:29 pm »

Wow.
Logged
-- Jones NXT-RJU8-JSNR-H9J4-2KWKY

rudeboi

  • Hero Member
  • *****
  • Karma: +55/-4
  • Offline Offline
  • Posts: 633
  • Nxt Organization Member
    • View Profile
Re: NXT Community Funds Committee Introduction
« Reply #3 on: January 28, 2015, 10:29:13 pm »

Woohoo pre announcement place holder!
Logged
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬  ▄▀▀▀▀▀▀▀▀▄  ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●  nimirum  ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
▬▬▬ ◖ENDING CENSORSHIP ONLINE◗  ◖ ICO OPEN NOW◗ ▬▬▬

farl4bit

  • Global Moderator
  • Hero Member
  • *****
  • Karma: +210/-45
  • Offline Offline
  • Posts: 3465
    • View Profile
    • Blockchain Twitter
Re: NXT Community Funds Committee Introduction
« Reply #4 on: February 10, 2015, 09:55:31 pm »

Thanks for the intro!  :)
Logged
 

elective-stereophonic
elective-stereophonic
assembly
assembly