Discussion: Community Pool Funds, changing the narrative
As an investor it’s important to have clear and defined terminology. The community pool has been a poor iteration of what actually is funded by the community & what is funded as infrastructure or growth. If the success of the ecosystem is reliant on community pool spending, it is important to note and separate the community pool from operation expenses.
I think this has upset a lot of people and has caused turmoil within the cosmos community because of the lack of understanding and transparency on what actually is being funded for the benefit of the cosmos stakeholders. It’s hard to see the direct ROI on a lot of the spends IMO, that is why I believe it is important to change the current system.
What I propose:
Abolish the comingling of community pool funds, development funds & operational expenses: This will set the expectation of bad spends, or poor transparency if the funds are moved or not replenished if the core infrastructure or teams have not been able to provide any value or work on the hub. This will also allow for separate teams to compete for funding vs how the current system operates which is monopolized.
Community Pool funds should fund events, marketing, and other relevant activities that are not core to development or have an expectation for return on investment. These spends should not be drastic, and the community pool size should be minimal.
Creation of a financial council that oversees the spending of the core development, expenses etc. This should be elected by the community, not self elected. It is important that these individuals are compensated but should not be over compensated, also should not have any conflicts of interest & if they do, they need to be disclosed.
This is a very very rough draft, but I want to get a discussion going on this topic because it has been neglected for such a long time, and would love to get some feedback from community members, validators, team/core etc.