[VOTE NAY] DED Token birthing phase: "EDs" and technical proposal | On-Demand Governance for Assets on Asset Hub.

Date: 5th March 2024
Technical Candidate/Proposer: DED Tech Midwife (party of DOTisDED team).

Recipient of funds: DED Tech Multisig (legal name: Decentration Trust Company).

Repo: https://github.com/DOTisDED/snapshot

Version 0.2.1
Requested DOT: 31,200

Tldr; This proposal, otherwise referred to as the “ED proposal”, is a continuation of the fair distribution plan that Ramsey (Tech Midwife, Decentration.org) in January, which defines the technical delivery of the DED token on behalf of DOT holders, and seeks funding for the distribution of Existential Deposits (EDs) to all DED recipients + fees and technical value provided.

Refer here for the proposal details.

[Update] Please vote NAY on this because:

After discussing with the other members of the DOTisDED team, who initially provided feedback and supported this referendum, have later pivoted referendum funding strategy based on community sentiment from a proposal by proposal approach to a DED Bounty Fund.

The community feedback has lead to Referendum #556.

I agree DED cannot truly succeed with just this technical budget and tentative future contributor proposals that are not well received. Therefore i will cancel this referendum and allow for the DED Bounty Fund #556 to play out.

A DED bounty fund will give DED the best chances of success, while retaining the core value of 100% fair distribution. 

$10m fund to aim for >$1bn value asset, is rational and reasonable odds. Dreaming of a zillion dollar token on bootstrap budget is a bad odds and waste of time and reputation.