Dear Joseph,
Thank you for the proposal and the detailed write up.
The OC has been established through income generated from GNS being the counterparty of last resort to all trades.
As such, it was always acknowledged as being funds generated for the token holders.
Since inception there have been clearly defined revenue streams.
Part of the fees goes to vault stakers, part goes to the gov fund, part goes to the token holders and OC eventually goes to token holders as well.
Grants, competitions and marketing have always been part of the gov fund’s responsibilities.
I dislike this push of making the OC a piggy bank that can be used for anything at all.
The only reason why I was in favor for the last (and first) time the OC was used for spending outside of token dividends or burns was out of sheer necessity, I really felt that competition and marketing campaign was desperately needed and since governance did not have the funds, OC was simply the only way.
For this I don’t see the same necessity.
On top of this, I see this as simply the second stepping stone on a slippery slope towards endless depletions of the OC for things it was not meant to fund, like grants, competitions, marketing campaigns a.o.
If the team really feels these grants are worthwhile, I’d like to see them funded with the gov fund.
If the team thinks the gov fund needs more money to do so, they should go the way of proposing yet another gov fund raise.
I will vote against this proposal.
Midgetwhale