Does anyone know how the 20% block rewards are used? Who decides this? Is it just sent to HL to build something new, because that’s what it seems like. I want to see a significant portion of this block rewards put into marketing. Does anyone agree with me? We need to stop pretending this is decentralized and find out some facts. How is it a private company HL working on new Horizen if the DAO didn’t vote to give them funds to work on it?
I don’t know the source because the person who gave this is not currently in the community. Probably made it using AI.
If this information is correct, Horizen seems to be grabbing money and not reinvesting it.
Ecosystem Services Support with community management, project management, ecosystem adoption, and grant program implementation $151,472 USD Avg.
(historical range: $2,400 - $258,750)
It is difficult to construct a full ecosystem with this money.
Please don’t make assumptions.
- a person made this
- they are in the community
Maybe @RME18 can provide further insight to the original question.
If you don’t like guessing, please show us the distribution to the Horizen Foundation.
@AstarZens, can confirm that this was written by people on behalf of the Horizen Foundation for the DAO and Foundation launch.
I’d encourage you to look at the section farther down, which states how the share of the block subsidy that belongs to the Horizen DAO is used. Bottom line, today most of it is being used to pay service providers which have spent significant amounts of money building out and supporting the Horizen ecosystem over the course of years, and which have not been paid for their work. Over time, as these costs are satisfied, more of that money will go to the treasury wallet for things like grants.
It’s important to note that all of this money belongs–and is being spent on–the Horizen project. It’s not just about marketing and ecosystem events, but also supporting those that have built and continue to maintain the technology.
I’d also note that previously, before the DAO launch last year, there was no way for the community to have any say over how the block reward was spent. Now there are mechanisms for that via voting and the grants process, and the hope is that pool of money will grow over time.
Can we know exactly what is owed to HL for all the work they did? Also, what time period does this budget include? We should know how much the DAO is in debt.
Just to be clear, the costs are for a number of service providers, which include but are not limited to HL. The cost ranges are disclosed in the table that AstarZens pasted.
How much is the DAO in debt?
Not sure. If it’s out there I imagine it would be in the transparency report.
Is there a website to find this report?
Hello. Of course!
Documentation is available here: Foundational Documents | Horizen Documentation
Also worth stating that there are some fixed costs of administering the ecosystem, the DAO, Foundation, infrastructure, and just maintaining software; there are some debts that need to be worked off, and then there’s all upside to the community, grant programs, marketing, whatever gets voted on as $ZEN grows in value. There’s no sugar coating or brushing under the rug the hard reality that there are minimum fixed costs of doing business, and with $ZEN where it is now, we’re lucky to at least be able to cover those. I have high hopes that New Horizen will breathe fresh life and purpose into the project that will ultimately open up many many more possibilities for community funding, grants, etc.