MIP#49
MIP-49 Cost Claim: USD 80,000
Vote Option:
1) 100% [80,000 USD worth of space]
2) 80% [64,000 USD worth of space]
3) 60% [48,000 USD worth of space]
4) 40% [32,000 USD worth of space]
5) 20% [16,000 USD worth of space]
6) 0%
All remuneration result is subject to the terms and condition 1 below.
Terms and Conditions:
1) The maximum quarterly budget for the Builder Program is set at 250,000 SPACE coins as per MIP-39. If this maximum budget limit is reached, remuneration will be distributed proportionally among successful projects. No further remuneration will be provided.
1st Builder Program PPT Summary:
https://docs.google.com/presentation/d/1riIdme6HE1ktXeJ3M1lv4kCwBiunTJM8E_12-Bbzx60/edit?usp=sharing
Objective:
Out of the initial 11 projects, nine have advanced after the first technical expert screening. Subsequently, seven projects remain after the second round of evaluations by all committee members, awaiting the final evaluation round voting from all DAO members. This process showcases a unique experiment in blockchain fairness and serves as a remarkable external demonstration for decentralized evaluation.
The objective of this MIP is to finalize the remuneration ratio of projects MIP 48 to MIP 54 through a democratic voting process within the MVCDAO community. Each vSpace token represents one vote, emphasizing the importance of conscientious voting to determine development cost remuneration.
MVCer, let's appreciate the dedication of all developers involved in this innovative bitcoin scaling evolution journal together.
Project:
MVC Asset Bridge
Website:
https://bridge.microvisionchain.com/home
Github
https://github.com/metasv/mvc-asset-bridge (Will be public available if approved)
Introduction
The asset bridge which convert USDT(and possiblly other coins) into MVC USDT and vice versa.Currently ETH, OP, and Arbitrum is supported for depositing and withdrawing USDT.
Empowerment to MVC Eco
The asset bridge enables stable coins(USDT USDC etc) to be able to circulate on mvc chain, which provide liquidity for defi applications like MVCSwap.
Team Size
2 backend developers, 1 blockchain developer and architect, 1 SRE engineer.
Key Implementation notes:
Unlocking the Builder Program remuneration system, embodying the essence of decentralization.
Three components:
Evaluation by Technical Expert
Evaluation by Committee
Community-backed remuneration distribution voting
Decentralized Evaluation Process:
MVCDAO unlocks the Builder Program remuneration system, embodying the essence of development permissionless and decentralization. Projects will undergo evaluation by Technical Experts, Committee, and receive community-backed remuneration voting ranging from 0% to 100%.
Development Cost Remuneration determined by DAO:
The DAO determines development remuneration using a voting system where each vSpace equals one vote.
Budget and Distribution:
The maximum quarterly budget for the Builder Program is set at 250,000 SPACE coins as per MIP-39. If this limit is reached, remuneration will be distributed proportionally among successful projects.
Release Schedule:
Projects successfully going through A) Technical expert evaluation, B) Committee evaluation, and C) DAO remuneration voting will receive remuneration in three parts, with a monthly linear emission between the 17th and 20th over a 3-month period upon passing evaluations.
Transparancy
All technical expert and committee member voting and comment are out in the open for all member to see.
Technical expert evaluation:https://docs.google.com/spreadsheets/d/1VMhlNsoarm4HI7oT9pGVcf6G2heBMMSqBZbfMjhezZ4/edit?usp=sharing
Committee evaluation:
https://docs.google.com/spreadsheets/d/1d33K8LfRPx4U7R_3_IPs1biE1fcJiV3Y-Mec26-y7cU/edit?usp=sharing
Disclaimer and Remarks:
1) Disclaimer on Investment Intentions
Due to regulatory compliance and legal purposes, in the Official MVC Channel and general real life conversation, Space cannot be acknowledged or discussed as an investment vehicle. Please respect the official channel policies and adhere to them, as they are mandatory for all members. Thank you for your understanding.
Decisions to acquire or use Space for speculative or investment purposes are solely at the discretion of the individual. MVCDAO explicitly disclaims any responsibility for losses that may arise from such actions. Members are urged to exercise caution and make informed decisions.
2) No Assurance on Space Value
Please note that MVCDAO does not make any commitments or guarantees regarding the value of the network gas: SPACE.
3) No Investment Advise:
This proposal is focused on enhancing the visibility and sustainability of the MVC network. It is important to note that the arranagement mentioned in this proposal do not constitute investment advice. Participants and all members should refrain from interpreting it as such.
4) Limitations of the Finance Department:
The finance department can't simply wave its magic wand and make every other department and builder program efficient, effective, and free from fraud.
4A) Efficiency and Effectiveness: Not Guaranteed by the Finance Department:
The finance department focuses on the numbers, but other departments might prioritize strategic goals that are more about long-term growth than immediate, short-term efficiency. It's up to each department to use the budget resources effectively.
Imagine giving someone all the ingredients to bake a cake; the result depends on the cook who bakes the cake. Similarly, the finance department allocates the resources according to the budget and authorization criteria, but how those funds are used is up to each department's expertise and the overall condition of the industry.
4B) Fraud: Not Guaranteed by the Finance Department:
It is not within the purview of the Finance Department to ensure the operational smoothness of other departments or to prevent third-party fraud. Various departments should conduct thorough due diligence to mitigate the risk of external fraud.
4C) Builder Program: Not Guaranteed by the Finance Department:
The subsequent operation of applications coming from the builder program is not monitored or endorsed by MVCDAO and the finance department. All members should exercise caution for any engagement with applications coming from the builder program in the future.
4D) Payment Flexibility to protect vendor and service provider interest:
For a service or vendor costing 5,000 USD, department heads are authorized to pay up to around 5,250USD worth of space to accommodate the fluctuations issue. This flexibility ensures the protection of interests for both vendors and service providers at the time of transaction in accordance with the standards detailed in Section 14[MIP-39].
Disclaimer point 5A to 5E outlines the limitations of the Finance Department's responsibilities, emphasizing the collaborative effort required across departments and the DAO to achieve organizational objectives effectively.
5) MVC operates autonomously, independent of all ecosystems.
5A) Ecosystem Inquiry and Communication:
While MVCDAO itself doesn't manage ecosystem communication and operates independently from all ecosystem, we're more than willing to facilitate connections and provide the necessary contact information to ensure community members can reach out to the right ecosystem representatives or channels for communication and inquiries.
Just as the Ethereum Foundation operates separately from the ecosystem, we encourage inquiries to be directed to the specific ecosystem representatives for the most accurate and helpful responses, rather than directing inquiries directly to the Ethereum Foundation, or in our case, MVCDAO.
5B) Ecosystem Safety:
The safety of any ecosystem cannot be guaranteed by MVCDAO. We are not responsible for any losses incurred due to hacker attacks or interactions with ecosystem projects or partners.
Members are advised to proceed with caution when engaging with any ecosystem or partner projects.
5C) Supporting the Ecosystem:
We want to express our appreciation for the members' valuable support in boosting the exposure of the ecosystem. Your efforts are deeply appreciated.
However, MVC maintains neutrality and does not officially endorse any specific ecosystem entities, including early contributors, MVClabs, or participants in the builder program.
Should any member engage in activities such as organizing AMAs with ecosystem developers or offering assistance to any part of the ecosystem, we encourage the member to reach out directly to the involved ecosystem representative and their relevant channels for discussions regarding their policy on potential rewards.
To ensure clarity and prevent any future misunderstandings, we recommend establishing an agreement with the respective ecosystem if rewards are anticipated for support. Otherwise, it may be beneficial to consider such contributions as voluntary.
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