# \[Proposal\]\[Last Call\] Rectifying Proposal 72 Committee Actions

**URL:** <https://forum.cosmos.network/t/proposal-last-call-rectifying-proposal-72-committee-actions/11959>\
**Category:** Community Spend\
**Tags:** draft\
**Created:** [October 31, 2023, 3:29am UTC](https://forum.cosmos.network/t/proposal-last-call-rectifying-proposal-72-committee-actions/11959 "2023-10-31T03:29:02Z")\
**Posts on this page:** 1\
**Showing post:** 16

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**Author:** ![jacksteroo](https://yyz1.discourse-cdn.com/flex031/user_avatar/forum.cosmos.network/jacksteroo/32/663_2.png) [@jacksteroo](https://forum.cosmos.network/u/jacksteroo)\
**Post date:** [November 22, 2023, 9:47am UTC](https://forum.cosmos.network/t/proposal-last-call-rectifying-proposal-72-committee-actions/11959/16 "2023-11-22T09:47:55Z")

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## Rebuilding Trust

There is a clear set of arguments here pleading the case to be made whole. The Simply Staking team is only asking for the initial half of the committed funds that was supposed to be sent _prior_ to the start of the project. It has been a year and the Entrypoint app is nearing completion, but no funds in sight. The funding mechanism in the past via a loosely governed committee should be rectified to help rebuild trust in builders seeking for partial funding to help launch dApps bringing utility to the ecosystem, potentially targeting institutional investors.

The rectification is set as [Prop #851](https://www.mintscan.io/cosmos/proposals/851) and is already up for voting. We are **voting YES** on this proposal.

## Product Market Fit

For those who haven’t tried it out yet, the idea for the [Entrypoint app](https://app.entrypoint.zone/) conceptualizes what TradFi has done for decades. The initial product is quite well done, to realize the vision of a perceived indexed-based fund. The road to mainnet is still underway because there’s further investments necessary to commit to liquidity through business development, finalization of development for audit-readiness and other operational diligence such as licensing and compliance, which are all signs of maturity for the development of the app by the Simply Staking team.

 ![image](https://canada1.discourse-cdn.com/flex031/uploads/cosmos1/original/2X/7/7daffe65693a7c9305db08022c347c1dbe05eb1b.jpeg)

## Root Cause and Moving Forward

I’m curious to hear from the previous committee about the reasonings behind how this played out through the year, so we can root cause the inaction from a previously agreed upon funding, for a case of potential conflict of interest, the lack of transitions, or something else… also whether the previous committee will now vote to approve this rectification in [Prop #851](https://www.mintscan.io/cosmos/proposals/851) since the funds were returned to the community pool.

_Previous committee members below, quoted from this post [Proposal 72 funding gone wrong - A governance scheme with holes](https://forum.cosmos.network/t/proposal-72-funding-gone-wrong-a-governance-scheme-with-holes/11379):_

> [@Proposal 72 funding gone wrong - A governance scheme with holes](https://forum.cosmos.network/t/proposal-72-funding-gone-wrong-a-governance-scheme-with-holes/11379/1):
>
> Jelena Djuric, (prev. Informal Systems, now Noble), Jack Zampolin (StrangeLove Ventures), Zaki Manian (Iqlusion), and David Feiock (Galileo Group).

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_[View the full topic](https://forum.cosmos.network/t/proposal-last-call-rectifying-proposal-72-committee-actions/11959)._