Enabling the Secret Foundation Pool
This community-spend proposal requests 5000 SCRT for Alexander Bezobchuk, lead software engineer at Tendermint, who is adding functionality to Secret Network’s version of Cosmos SDK in order to enable a new tax on the inflation going directly to a configurable address belonging to Secret Foundation. Our agreement is the project will be done before the voting period of this proposal is complete. Here is the merged pull request.
Following these best practices created by Gavin Birch of Figment and the Cosmos Hub Governance Working Group, Secret Foundation is effectively submitting this proposal on behalf of Alex (a.k.a. Bez). We humbly ask our community to consider this proposal separately from the decision to implement a Secret Foundation pool. Either way, Bez made this possible, and our team hopes it can be a good example of using the community pool responsibly.
Currently, the native x/distribution module within the Cosmos SDK contains support for a built-in community tax (tunable with ParamChangeProposal) distributed to a community pool. The main purpose of this community pool is to decentralize control of a budget, which is available to fund projects in our ecosystem. In addition to this model, our community supports a Secret Foundation tax (starting at 15 percent of inflation) going to the Secret Foundation pool.
Building on this neutral ground is a huge step forward in pursuit of sustainability for Secret Network, and the Foundation will continue working alongside our community to drive growth and meaningful adoption of Secret Network, coordinate ecosystem participants, develop better systems for collaboration, and help reward valuable contributors. Of course, the Secret Foundation tax is governable.
Users can submit and vote on x/distribution parameter-change proposals in order to change the tax rate or the recipient address. If the Tax is 0 percent, we consider the Secret Foundation tax to be disabled. The trusted AccAddress is verified out-of-band. We can potentially consider introducing an additional field which can be used to verify the address such as a Keybase ID or a signed message.
Generally, this approach solves the problem of inefficiency with respect to decentralized governance. Our intention is to help anyone and everyone get involved and earn by sharing value. To do that, we need strong leadership and focused efforts to achieve strategic goals.
Thank you, Bez! Recipient address: secret164z7wwzv84h4hwn6rvjjkns6j4ht43jv8u9k0c