IONcore Developer Fund Signatories/Management/Implementation

[korvasc]

Need to know how much ION IONcore have available. The amount has a fundamental impact on how this project moves forward, so it's something that as a priority needs resolution.

Actions

1. Signatories Agree
2. LordDarkHelmet liaises with Huey to confirm amount ION to be transferred to IONcore
3. LordDarkHelmet to implement IONcore developer fund

Developer Fund Signatories Huey Ionomy Visionary Ionomy aware of how IONcore spends the ION. Avoids duplication of effort with whatever Ionomy is working on Encourages people in Ionomy to contribute when they see leaders collaborate

TOR Ion Visionary Has the expertise to evolve ION into a ground-breaking world-leading cryptocurrency Has an intimate understanding of the development process Has a history of turning ideas into reality. Saved ion

Korvas A respected member of the community 20+ years of success in Sales, Marketing & Business development 10 years Intel 2 years VideoLogic/Imagination Technologies 12 years Creative Labs Involved in cryptocurrency since 2013

IONcore Financial Controller LordDarkhelmet A respected member of the community Has the expertise & trust to be able to set up and manage IONcore Developer fund

Additional comments Projects reviewed on a case by case basis.

IONcore will be able to define and implement a bounty list.

Milestone End Nov 2020

[korvasc]

As I put this together I off course agree to be a signatory

[LordDarkHelmet]

Step 1: Understand the current financial position. What are our ongoing costs, liabilities and burn rate. Step 2: Break down future spend Step 3: Understand Objectives. (What are we trying to accomplish, what is our mission, what are our priorities, how funds are distributed, ...) Step 4: Come up with procedures for general practices Step 5: Ensure proper reporting and transparency Step 6: Continuous feedback loop to ensure we are meeting our objectives

[adammatlack]

I agree to be a signer on this. Currently, the step 1 answer is at a minimum we are ready to move a bit over 3.1mm ION into a multisig for core to control and leverage. I need to do more accounting to make sure it is not missing any and its the right amount.

[korvasc]

LordDarkHelmet I like the structure although I recommend step 3 be step 2 and vice versa. This will help make sure future spend aligns to the defined objective/s

[LordDarkHelmet]

Sometimes people get 2 and 3 confused.

Step 1 and 2 are there to create a baseline. Step 1 establishes current status and commitments, Step 2 looks at future commitments and allocations that are currently known and agreed upon.

Step 3 then examines what we would like to do. Any action in step 3 is a delta from our baseline established in step 1 and 2. Each delta needs to be reviewed and budgeted accordingly as they are changes to the established plan.

Once the action in step 3 is approved, we need to make sure we are following procedures, or come up with new ones. This is step 4.

Step 5 is about execution. Basically, we need to be transparent and report what is going on.

Step 6 is our loop, we review current progress and make changes to the plan as needed (Step 3)

Perhaps a flowchart is better than text:

[cryptolinux]

I agree to the proposal.

I find it really good that @LordDarkHelmet created some scheme on which we can elaborate, as on one side we can create everything from scratch, on other side we already have a lot of it, maybe good start for step 1 would be evaluation of what we already have.

[korvasc]

Great this issue is complete so in summary

I agreed to be a signatory Huey agreed to be a signatory Tor agreed to be a signatory LordDarkHelmet agreed to be Ioncore Financial Controller

If anyone has any objections let me know within the next 24/48 hours otherwise I will close this issue

[korvasc]

Nov 16 2020 - Meeting

Attendee's Huey, Cryptolinux, Korvas

Process of ION transfer from Ionomy to Ioncore has begun, funds to be stored in a Multi-Sig Wallet

Cryptolinux will create a Multi-Sig wallet for the ION

Everyone agreed to Cryptolinux recommendation that we increase the number of signatories from 3 to 5

1 - Huey Public key - submitted 2 - Cryptolinux Public key - submitted 3 - Korvas Public key - submitted 4 - LordDarkHelmet Please let Cryptolinux know your Public key 5 - To be confirmed

Also discussed the need from an additional wallet that would hold funds to support the day to day IONcore running costs

Let me know if I've missed something

End

[korvasc]

Update Dec 14

Crytolinux setup an MS wallet which we were able to successfully test. The only problem is I let slip my private key so another wallet will need to be created.

Dark will set this up, we will test then I will publish details for community review

[korvasc]

Financial Controller
LordDarkHelmet

Signatories
Cryptolinux adammatlack korvasc

To be reviewed in approx 12mths