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Flare distribution paper, "Applying Governance to the Spark Distribution"


WrathofKahneman
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Remember when everyone got mad at David Schwartz for telling people to take profits when they could - and he basically ended up calling the top perfectly.

Does this vindicate his criticism of the distribution as well?

For of all sad words of tongue or pen, The saddest are these: "Schwartz was right again!"

 

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Not sure if this was in the original text but it's there now, seems pretty key:

"Full governance proposals for these options will be drafted, including our view of the pros and cons, and released together with the legal memo upon which Option 1 will be based."

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2 minutes ago, Seoulite said:

Hugo now criticising Polo for selling 100% of the IOU "when it was still subject to governance"

WTF? This is like how Nexo liberally exercises their clause in the T&C that allows them to change the the T&C whenever they want. The point of DeFi is to get away from this.

There's a reason we have aphorisms like, "Dance with the date you brought," and, "Don't change horses midstream." Even if the result of this vote ends up being the best option, what kind of trouble has Flare stirred up to get there? Would it have been better to just stick with an imperfect but workable original design?

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4 minutes ago, Seoulite said:

Not sure if this was in the original text but it's there now, seems pretty key:

"Full governance proposals for these options will be drafted, including our view of the pros and cons, and released together with the legal memo upon which Option 1 will be based."

Yeah I saw it there when I read it.

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2 minutes ago, brianwalden said:

Even if the result of this vote ends up being the best option, what kind of trouble has Flare stirred up to get there? Would it have been better to just stick with an imperfect but workable original design?

Yes this will certainly sour things up for the launch. Is it all to prove the 'democracy' of the system? Since they've thought long and hard about everything up until now, I can only assume they did the same with this, but still it's a risk.

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14 minutes ago, Cambridge said:

A lot of this stuff is way over my head, but I think the flare team should have just stuck to the original plan everyone who participated signed up for. 

So some people in the USA pay taxes on a 3 percent distribution every so often, so what?

This is the view of a lot of people. This decision seems so focused on the US. In a global market, this focus on a few Americans and their anarcho-tyrannical government seems like a backwards step.

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2 minutes ago, Seoulite said:

This is the view of a lot of people. This decision seems so focused on the US. In a global market, this focus on a few Americans and their anarcho-tyrannical government seems like a backwards step.

I understand the sentiment but there is a logic behind conforming to the strictest major market's rules. I'm sure they have a better understanding of where the FLR will be distributed, as well as some Anglophone tendencies.  

In the meantime I wonder what kind of communications, if any, happened between the IOU exchanges and Flare?  Those discussions, even informal, just became more important.

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1 minute ago, Seoulite said:

Some people are suggesting Option 3: just release the whole 100% in one go. Received at zero value. No tax problem(?) What do you guys think?

Ah I just realised this is not going to be possible, because they are going to release the 15% FIRST and then the vote will happen. So this is not a possible option. 

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4 minutes ago, Seoulite said:

Some people are suggesting Option 3: just release the whole 100% in one go. Received at zero value. No tax problem(?) What do you guys think?

It's the same as option 2 and they can't do it if they insist on it being voted on. But honestly, if they screwed the vote and just did this, it might make everyone happy.

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4 minutes ago, brianwalden said:

It's the same as option 2 and they can't do it if they insist on it being voted on. But honestly, if they screwed the vote and just did this, it might make everyone happy.

Except I saw this guy on Reddit who didn't claim his airdrop because of the taxes. It seems really stupid to me, if you're that worried you could just sell 30% right when you get it and use it for taxes, but he was adamant that he was doing the right thing.

He's probably not happy right now.

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