Welcome to the new nomination thread for the community fund committee!
The Firo Community Fund was created to bring greater decentralization in funding to the project by creating an independent fund from the block reward run by community elected members. To date, the Community Fund has assisted with funding the Lelantus Spark audit, and various community management roles and assisted the core team in market making, research, and development expenses.
Due to the Community Fund being a new introduction, it was decided that for the first round of Committee Members, the role would only be for 6 months after which there would be a new election and thereafter it would be for 1-year terms.
At this time, our current CFC members have passed their elected time and a new election needs to be held for the CFC.
Of course, these current members have every option to rerun for their positions, but this is your chance to throw your hat in the ring! Feel free to also nominate who you think would be good for the role! If anyone would like to nominate someone for a CFC member position or nominate themselves, please post in this thread along with an introduction of who you are, why you think you should be a CFC member, and what you would like to see the community fund used for.
This nomination thread will last for ONE MONTH! Once we have everyone that is running, we will follow this up with the official election for the new membership!
@nrsimha / @Nrsimha / @nrsimha#8734 (Reelection)
@sproxet / @sproxet / @sproxet#5932 (Reelection)
@Fiendish / @FiroFiend / @Fiendish#6111 (Reelection)
@RyanApeFiro / @moviecheff / @ry_alt#6800 (Reelection)
@rehrar / @rehrar / Diego “rehrar” Salazar
@rasikhmorani / @rasikhmorani / N/A (Relection)
@JereTitor / Jere / N/A
@devwarrior /@Dev_Warrior /@devwarrior#5709
@Eagle / @eagleblac / EagleKARTAL#2419
For those that are unaware of this, I will do my best to summarize it all for you, and I will further still explain the requirements for running for a committee seat!
Brief summary of how the CFC came to be
Firo held a multi-stage vote from the community to adjust the tokenomics and create the Firo Community Fund. This lasted for several months, with several vetted polls, to ensure that it was truly the community’s will. Once the Community Fund was created, it was acknowledged that until we can get quadratic voting up and operational for it, in the interim we needed a committee of the community elected community members to determine where funds would go. The committee is made up of 7 members, and we have had 7 for the last 6 months.
After the nomination phase, there is a separate period for vetting each nominee, along with an interview, which will be shared with the community that assesses the eligibility of each member but also assist the community in determining which nominees match their voting goals. The live interview can be done via text or online meeting. The questions for the interview will cover why they’re believers of Firo, their understanding of Firo tech, more about who they are (without doxxing requirements), and their vision of how the fund should be utilized. For those who aren’t immediately recognizable individuals of the community, we will ask for proof of being an active part of the community for at least 1 year.
With those details out of the way, let’s cover the responsibilities and requirements of a CFC member.
Responsibilities of Community Fund Committee members
- To decide along with taking into account community feedback on how the community fund should be utilized.
- To help evaluate community requests for funding, do due diligence on applicants applying for funding, and obtain all necessary information to ensure sufficient detail for the scope of work.
- To evaluate and approve payment of milestone requests
- To make all reasoning of the CFC for approval/rejection public
- CFC can request for core team’s feedback and opinion on proposals.
- To always conduct themselves with professionalism without resorting to personal attacks or insults.
Minimum requirements to be eligible to be a committee member
- Be a recognized and active community member of Firo for at least a year, OR a recognized industry expert/specialist.
- Solid understanding of Firo’s technology stack and current roadmap and goals
- Cannot be a current full-time member of the Firo core team. Part-time contributors or contractors of Firo’s core team are allowed but must be disclosed.
- Be able to attend a CFC meeting once a month or appoint a proxy to do the same (though proxies should be used sparingly).
- While a technical or development background isn’t required, having a few committee members with some coding background would be helpful in evaluating proposals.
- Be able to read, check and vote on proposals for funding at least once a week.
- Be 18 years old and above.
Removal of CFC Members
- If a CFC member is suspected or found to have been involved in fraud or scam or other deceitful behavior, the other CFC members can vote to remove them via majority vote.
- If a CFC member has acted in a manner that is an unbecoming or unprofessional manner, the other CFC members can vote to remove them via a majority vote.
- If a CFC member is absent for 2 meetings in a row without due cause, they shall be removed automatically.
- If a CFC member has continuously failed to vote on proposals for funding, a vote shall be held at the next CFC meeting by the other CFC members on whether to remove them.
- If a CFC member is removed, nominations should be open for the spot for the remaining term.
Meetings, Quorums, and Voting
- A meeting should be held at least once a month with CFC members. The purpose of this meeting is to discuss proposals or to choose how to allocate the FCF funds or any other matters arising. Given CFC members may be in different time zones, this should be taken into account when determining the time of the meeting and the opportunity to take turns for amenable timing.
- Core team members or their representatives should always be allowed to observe and attend all CFC meetings, but shall not have a vote unless otherwise specified.
- The minutes of these meetings shall always be publicly available.
- The meeting can be conducted by text or online meetings.
- A quorum should be 5 members. Votes are passed using a majority of votes. In the event of an equality of votes, the core team shall have a casting vote.
- Proposals for funding can be approved without the need for a meeting and shall be voted on in the proposal thread itself.
- When voting for or against a proposal for funding, all CFC members are required to state the reasoning behind their choice.
- Anyone can open a proposal for funding, including CFC members.
- If a CFC member is an applicant for funding, the member cannot vote on that proposal. Also, if a CFC member has a close relationship (e.g. family member, best friend, significant other, spouse) with the applicant for funding, the CFC member should disclose the relationship and put it to the other CFC members to decide whether the member should be allowed to vote or choose to abstain voluntarily.
- If the CFC wishes to make funds available to the core team to assist them (for instance to cover a shortfall or to pay for a specific employee to retain them), a higher vote threshold is required, which is 5 members out of 7 instead of the usual majority of votes.
General Guidelines to Community Fund Usage
- Trust needs to be earned. While anyone can propose to be funded from the FCF, the person’s track record needs to be evaluated, the necessary due diligence needs to be taken, and milestone payments adjusted appropriately.
- The CFC can choose to employ contractors to embark on specific tasks, but shall seek community feedback. Where it involves core code, the CFC has to consult the core team.
- The CFC should not be used to host parties or purely social events. Educational or awareness events are okay but should be done with appropriate evidence and not paid upfront.
- The CFC is to be used and while there shouldn’t be pressure to spend the CFC funds, the CFC funds shouldn’t be hoarded.
- CFC funds should always be utilized for the benefit of Firo. Research or development that does not directly benefit Firo should not be undertaken.
- CFC funds should not be used for giveaways, even for the purpose of promoting adoption or participation. These have limited effects.
- All CFC expenditure has to be disclosed. Contractors that prohibit this should not be engaged.
- Should the CFC deem fit, FCF funds can be burnt by sending them to this burn address. (https://explorer.firo.org/address/aFiroBurningAddressDoNotSendrPtjYA)
What the CFC is NOT
- The CFC are NOT representatives of the opinion of the Firo Community. They are only tasked with matters to do with the Community Fund and do not replace the usual process of getting feedback from the general community and core team in implementing large changes.
- The CFC shall not represent itself as core team members or as representatives of the project.