Post
Topic
Board Altcoin Discussion
Re: ORA:: Bounty discussion thread
by
Chaos514
on 11/08/2014, 16:06:54 UTC
Proposal for Charities

I've been asked to come with a proposal on how to handle Charities. I didn't revive any suggestion by PM aside from the one from DarkhorseofNxt, so fell free to give me comment/suggestion.

We want to handle the donation to Charities with theses 3 concepts in mind:

- Transparency : Everything will be decided by the community and all action will be communicated to everyone
- Security : We want to ensure the ORA for charities will be safe
- Sustainability : Giving to charities should not result in a massive dump that could hurt ORA

So here's the proposal so far:

Selection
- We ask the stakeholders to propose charities to which they would like to Donate.
- Since we have a potentially a lot of ORA stakes, we could divide it between multiples charities (to be determine once the amount of ORA given to charities will be known)
- The selection would be done by a vote amongst original shareholder (because we know who they are) or on ORA if it include a voting mechanism.
- The selection would be composed of X charities and this process would be repeated every Y months. I suggest 3 charities every 6 months.

Donation
- The initial donation will come from a percentage of the undistributed stakes.
- We will use multising option to ensure no single person could get access to the Charities fund.

Distribution
- We wait at least 3 months after the release of the coin to start cashing out the stake
- The Maximum ORA per sold per day from the charity fund would be at maximum equal to 10% of the daily average of the last 2 weeks
- The orders would be set at a fix price so it doesn't crash the market.
- This would be done on multiple exchange.
- Charities will receive their donation in FIAT.

Again, this is only a proposition so if you have any comments/suggestion, fell free to post them here or to PM me.