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Author Topic: SuperNET Funds Disbursement Authorization Thread - Official  (Read 81237 times)

cobaltskky

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SuperNET Funds Disbursement Authorization Thread - Official
« on: September 16, 2014, 10:28:50 pm »

Quote
Latest updates by VanBreuk in blue - post link

This thread will host posts related to the authorization of SuperNET funds disbursement.  This thread is to be used to communicate during the process only.  It is not meant to host community discussion about the process, the merits of the request, or anything else not related to processing a specific request.  Only those who operate in an official capacity for SuperNET are allowed to post in this thread.  Any posts not complying with these rules will be deleted or moved to another thread.  Authorization Committee members, please bookmark this thread and enable notifications.

Authorization Committee:

EvilDave - NXT-BNZB-9V8M-XRPW-3S3WD
EmoneyRu - NXT-ZRWH-CXFE-VSZT-2XXMV
n3lz0n - NXT-WFTS-BJQR-3V25-6S65F
Steve - NXT-WDEZ-CJW6-LHSZ-6RGA2
VanBreuk - NXT-RQYG-UPJP-HMMH-7WHFZ

idev - NXT-DBAP-72UC-VQSY-HQ5HY
Dom P - NXT-CFAC-X7CW-XQPV-4L23K

removed due to inactivity.


Authorization Approver: TwinWinNerD -  NXT-HFV6-N66W-P7R9-DKRES

cobaltskky - NXT-QT7P-HWS6-SABB-G59H8
removed due to inactivity.


Disbursement Requestor: jl777 - NXT-MRBN-8DFH-PFMK-A4DBM

I will attempt to concisely describe the process that James posted here: https://bitcointalk.org/index.php?topic=762346.msg8748412#msg8748412  This process will be a work in progress over the coming days until we smooth out the kinks - expect it to be tweaked as we put it into effect.

1.) Requester posts a spending request to Authorization Committee in this thread.  Requester provides proof that it meets SuperNET guidelines for approved spending, preferably in this thread or may be via PM if the nature of the expenditure is sensitive.

2.) Authorization Committee members individually verify that the request meets SuperNET guidelines.  If all is in order, then they post a Nxt token here that includes the data "Request authorized by NxtForumAccountName on DD/MM/YYYY". (without the quotes or period)  Committee member substitutes their forum name for NxtForumAccountName and the two digit day and month, and four digit year for the date.

3.) Once three members of the Authorization Committee have posted their approval, Authorization Approver verifies tokens by checking that content of phrase and Nxt account are in agreement.

4.) Authorization Approver posts here that the funds disbursement has been authorized.

5.) Authorization Approver PM's fund trustees with a link to the authorization post.

6.) Trustee with available funds validates authorization post and process leading up to authorization post.  They reply all to PM indicating that they will be disbursing the funds(to prevent another Trustee from simultaneously disbursing).

7.) Trustee disburses the funds then posts the transaction ID on this thread.

8.) Authorization Approver replies all to PM with transaction number to notify Trustees that the disbursement request has been fulfilled.
« Last Edit: May 13, 2015, 10:59:18 pm by VanBreuk »
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cobaltskky

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #1 on: September 24, 2014, 10:24:05 pm »

https://nxtforum.org/unity/supernet-funding-request-guidelines/msg106677/#msg106677

[Funding Request]

whale has negotiated a funding deal during the last weeks and it is ready to be funded. It is for an existing NXT company that wishes to be kept confidential until the funding is approved. PM me if you need to know the identity of the company.

###
Investment in 3 installments into an already established NXT company, that will be making an online wallet for SuperNET users, in addition to its existing websites.

1) 17.2% for 2.5M NXT immediately;
2) OPTIONAL 12.9% for 1.875M NXT by 31/Jan/2015;
3) OPTIONAL 12.9% for 1.875M NXT by 31/Mar/2015
###

The asset will not be traded before jan 1st 2015 unless all options are exercised. Due to the strategic value of an online wallet service (think blockchain.info) it is both whale's and my opinion that this investment has good ROI potential for SuperNET and we expect to be able to recoup the investment via AE sales within a year and still have significant HODLings remaining.

Since we do not have the NXT Phasing yet and there is no escrow for NXT possible, I will safekeep the SuperNET NXT until a viable alternative is agreed upon. When this funding request is approved, I will send out the funds

James
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n3lz0n

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #2 on: September 24, 2014, 11:08:27 pm »

can we discuss more on this? do we simply say "We Approve this?"

Sorry I can't find any instructions how to approve this. thanks.



https://nxtforum.org/unity/supernet-funding-request-guidelines/msg106677/#msg106677

[Funding Request]

whale has negotiated a funding deal during the last weeks and it is ready to be funded. It is for an existing NXT company that wishes to be kept confidential until the funding is approved. PM me if you need to know the identity of the company.

###
Investment in 3 installments into an already established NXT company, that will be making an online wallet for SuperNET users, in addition to its existing websites.

1) 17.2% for 2.5M NXT immediately;
2) OPTIONAL 12.9% for 1.875M NXT by 31/Jan/2015;
3) OPTIONAL 12.9% for 1.875M NXT by 31/Mar/2015
###

The asset will not be traded before jan 1st 2015 unless all options are exercised. Due to the strategic value of an online wallet service (think blockchain.info) it is both whale's and my opinion that this investment has good ROI potential for SuperNET and we expect to be able to recoup the investment via AE sales within a year and still have significant HODLings remaining.

Since we do not have the NXT Phasing yet and there is no escrow for NXT possible, I will safekeep the SuperNET NXT until a viable alternative is agreed upon. When this funding request is approved, I will send out the funds

James
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cobaltskky

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #3 on: September 24, 2014, 11:14:35 pm »

2.) Authorization Committee members individually verify that the request meets SuperNET guidelines.  If all is in order, then they post a Nxt token here that includes the phrase "Request authorized by NxtForumAccountName".

EDIT: n3lz0n's auth validated
« Last Edit: September 25, 2014, 01:01:45 am by cobaltskky, Reason: n3lz0n's auth validated »
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jl777

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #4 on: September 24, 2014, 11:19:05 pm »

can we discuss more on this? do we simply say "We Approve this?"

Sorry I can't find any instructions how to approve this. thanks.



https://nxtforum.org/unity/supernet-funding-request-guidelines/msg106677/#msg106677

[Funding Request]

whale has negotiated a funding deal during the last weeks and it is ready to be funded. It is for an existing NXT company that wishes to be kept confidential until the funding is approved. PM me if you need to know the identity of the company.

###
Investment in 3 installments into an already established NXT company, that will be making an online wallet for SuperNET users, in addition to its existing websites.

1) 17.2% for 2.5M NXT immediately;
2) OPTIONAL 12.9% for 1.875M NXT by 31/Jan/2015;
3) OPTIONAL 12.9% for 1.875M NXT by 31/Mar/2015
###

The asset will not be traded before jan 1st 2015 unless all options are exercised. Due to the strategic value of an online wallet service (think blockchain.info) it is both whale's and my opinion that this investment has good ROI potential for SuperNET and we expect to be able to recoup the investment via AE sales within a year and still have significant HODLings remaining.

Since we do not have the NXT Phasing yet and there is no escrow for NXT possible, I will safekeep the SuperNET NXT until a viable alternative is agreed upon. When this funding request is approved, I will send out the funds

James
The process is to verify that such a deal is within the general authority of SuperNET to make, in this case investment in enterprises that will contribute to enhancing SuperNET.

So, unless you are suspecting alien mind control (making no sense at all) or the deal is for a Hello kitty sticker factor (anything obviously not SuperNET) the approval should be granted. The approval process is to create a buffer between my asking for approval and the funds being sent and not to debate the specific merits of the business deal itself. The assumption is that the official Requestor will only be making requests for deals that is beneficial for SuperNET and that the terms are not unreasonable.

If someone spoofs me and posts a forged official Request, the funds would be effectively stolen. So the decision making is separated from the authorization and ultimately the actual spending would be in the third category of trustees.

James
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jl777

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #5 on: September 24, 2014, 11:26:58 pm »

19rh0tjq9c3micpkiimrm2h9fm6k9llru6rn84rqqb4fkj7si5ke4i1rhu4a1n81oa546paa7rfvi1vp2p4caldstcp40bo9aedmj2t9pv2gv5blufdhau525r8mvb5laklep1cjggp2ocs78v87268rj5glsodf

Spending Request Sep 24th 2014

James
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jl777

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #6 on: September 24, 2014, 11:30:17 pm »

2.) Authorization Committee members individually verify that the request meets SuperNET guidelines.  If all is in order, then they post a Nxt token here that includes the phrase "Request authorized by NxtForumAccountName".
A time sensitive part needs to be in the phrase, eg. Sep 24th 2014, like I did for my token
otherwise anybody can just copy and paste a token, though it would have a suspiciously out of date timestamp
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n3lz0n

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #7 on: September 24, 2014, 11:37:40 pm »




Request authorized by n3lz0n on 25/09/2014

Token:

9ck6267nd878cgvu67k77hcm2uprq82fidqt45r7ffneb1soi5uh6cjrq5vqk7o16olhqsma4p6qv2prgtveiauggigs7k49gipr7434r9lgo12o6vt54p161ba2v9sai3fvlhqirc9vv36bebh4vroptmcb70eb
« Last Edit: September 25, 2014, 12:54:07 am by n3lz0n »
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cobaltskky

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #8 on: September 25, 2014, 12:14:43 am »

2.) Authorization Committee members individually verify that the request meets SuperNET guidelines.  If all is in order, then they post a Nxt token here that includes the phrase "Request authorized by NxtForumAccountName".
A time sensitive part needs to be in the phrase, eg. Sep 24th 2014, like I did for my token
otherwise anybody can just copy and paste a token, though it would have a suspiciously out of date timestamp

As part of my verification process, I was going to match the timestamp to the timeframe that the committee member posted it to the forum. :)  Good enough?
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cobaltskky

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #9 on: September 25, 2014, 12:18:04 am »

50ep5prgtdu8ki9m8qo4dgu69l1egbcp2fm84h8i2nf1tckpi5lo0s9k8kp0gf81m9mli7vgj3i62i0c4fmagbk3qm9n5ft7v9ck4c6943rgjcocs8726mc0mmejs2fiai841m4j5bf0jj428as9rgj1qt6tl2pe

n3lz0n, your token doesn't validate against the data.  Will you please modify your message to include the data that you entered when you created the token?
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jl777

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #10 on: September 25, 2014, 12:30:17 am »

2.) Authorization Committee members individually verify that the request meets SuperNET guidelines.  If all is in order, then they post a Nxt token here that includes the phrase "Request authorized by NxtForumAccountName".
A time sensitive part needs to be in the phrase, eg. Sep 24th 2014, like I did for my token
otherwise anybody can just copy and paste a token, though it would have a suspiciously out of date timestamp

As part of my verification process, I was going to match the timestamp to the timeframe that the committee member posted it to the forum. :)  Good enough?
not sure, I think the timestamp is outside the encryption protected data so couldnt it be spoofed?
best for you to specify the exact text that should be tokenized and have the date in that text
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idev

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #11 on: September 25, 2014, 12:45:42 am »

Request authorized by idev on 25/09/2014

Code: [Select]
er65u7s5s3326v7oss8vcqgombqaabp4n79nuvmev76pe8tli5toe80j59lr8281tkqf1vudct4mf4infrpc8nknssp6mffkiuj0noh3cve0k4er977j7t16m4hg0u85jtq248f0udh73p5lkuhi0jsntvmqkffu
Regards
idev
« Last Edit: September 25, 2014, 12:55:13 am by idev »
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cobaltskky

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #12 on: September 25, 2014, 12:50:47 am »

Code: [Select]
er65u7s5s3326v7oss8vcqgombqaabp4n79nuvmev76pe8tli5toe80j59lr8281tkqf1vudct4mf4infrpc8nknssp6mffkiuj0noh3cve0k4er977j7t16m4hg0u85jtq248f0udh73p5lkuhi0jsntvmqkffu
Regards
idev

Hi, idev: I need the data that you generated the token with.  It should follow the template:

"Request authorized by NxtForumAccountName on DD/MM/YYYY". (without the quotes or period)  Committee member substitutes their forum name for NxtForumAccountName and the two digit day, month, and year for the date.
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cobaltskky

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #13 on: September 25, 2014, 01:00:27 am »

Request authorized by idev on 25/09/2014

Code: [Select]
er65u7s5s3326v7oss8vcqgombqaabp4n79nuvmev76pe8tli5toe80j59lr8281tkqf1vudct4mf4infrpc8nknssp6mffkiuj0noh3cve0k4er977j7t16m4hg0u85jtq248f0udh73p5lkuhi0jsntvmqkffu
Regards
idev

Does not validate.  Try again.
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idev

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #14 on: September 25, 2014, 01:08:39 am »

Request authorized by idev on 25/09/2014

Code: [Select]
er65u7s5s3326v7oss8vcqgombqaabp4n79nuvmev76pe8tli5toe80j59lr8281tkqf1vudct4mf4infrpc8nknssp6mffkiuj0noh3cve0k4er977j7t16m4hg0u85jtq248f0udh73p5lkuhi0jsntvmqkffu
Regards
idev

Does not validate.  Try again.

Code: [Select]
er65u7s5s3326v7oss8vcqgombqaabp4n79nuvmev76pe8tli60g080jcb40mtg1gvq4dgsnrkvt2cpi733h8l0ma2bnjcrknhcqhkvi60b0iv65omp26bjeb8an9tgfa9h6ibgudb7104asnn7ag54b118o9vqg
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cobaltskky

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #15 on: September 25, 2014, 01:10:24 am »

idev, much better! :)  Thank you!
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idev

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #16 on: September 25, 2014, 01:12:10 am »

idev, much better! :)  Thank you!
Your welcome.
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EvilDave

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #17 on: September 25, 2014, 07:50:45 am »

Well, I'm authorisin':

***************

jasvjn4b5tljluge04guv4jbfg0el8i7rf5ldm9rmo1vhe8li7do2s7sckqjf201k0qco6cgq70ja0ig56p5mr077hbmlvth4ug0hfkmn58gfgfj4u707j4no5ji2lj2qubn5324po8ond4grd8tple0qgdp5mjt

Request authorized by EvilDave on 25/09/2014

***************
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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #18 on: September 25, 2014, 09:22:16 am »

Code: [Select]
jl777 request for online wallet for SuperNET authorized by EmoneyRu on 25/09/2014
Code: [Select]
sje2d9gvf9mf82fo5i1n49dktcat059d21otttmmhuoft4o5i7q4451etbnsnpg1vjvq7nas5s1sv0fij596q9f8ti1mjgm97pjahfkku6k0839rplbb97sqc2j3qlkb8tjragqn8u28og3irba1264jftpj38k9

cobaltskky

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Re: SuperNET Funds Disbursement Authorization Thread - Official
« Reply #19 on: September 25, 2014, 10:53:37 am »

Request has been authorized.

Code: [Select]
8vsqvaorb7j3eu308hmi33ougqbmsjkslgj9qqi9uvjcla8ci8508m0ppqhsqeg11gj24qvuuhgadscbgs903021ts5jekgkanlq1342qo60ji4b8eeihjkf25v9r63rmnu7gcrm5cu093rkmbr9j2bv8f35q577
Code: [Select]
Spending Request Sep 24th 2014 - authorization approved 25/09/2014
Please disburse funds.
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