Fund Alternative: Pay in GRIN

Ok, I tested it, and indeed it appears the receiver is not sending back a slate-pack, hence Grin++ defaults to asking you to paste the response slate-pack.
Most likely the donation receiving wallet is offline.
@tromp Do you know it the Grin fund wallet is offline, or who is managing that wallet?


shame if Grin wallet for donation is offline :neutral_face:

That would indeed be a bit silly :sweat_smile:. Maybe they are trying to protect from dust attacks :thinking:

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I think that the core team has run out of strength and ambition and that is why it now agrees to divide the fund

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@smokeking I do not think they run out of ambition, but they do grow tired with with the negativity, also they are short on man power and time. So allowing the community to take over some task giving them more freedom to act is a good idea. In the end the more people are actively involved, the better for the ecosystem and the more efficient the core developers can focus on the core tasks.


Not all of them,but certainly some of them…

They have total freedom. I don’t think many people will denied their requests or proposals. The only thing the majority wants is ( that is what i think ) easier to use grin, easier wallets, easier for exchanges to update and using grin on their platforms.

I agree, the freedom was always there. I think most of us who have been around longer know that any sensible funding request will get granted. Therefore, giving funding and official rights to make spending decisions is mostly to formalize this freedom to those who did not ‘feel’ they had a say in the spending. I think it is a valid attempt and hopefully it will stimulate people to actively involved themselves in both the governance and the buidling of the ecosystem.

Regarding the “usability”, making transactions is already easy enough. Lack of exchanges that support grin slatepacks is a bit of an issue, but it is not something we can force, we can only encourage. Eventually when the price of Grin is going up, which it is slowly doing since we appear to have hit the bottom, it will naturally become more interesting for exchanges to spend time implementing Grin slatepacks.

Kind of a funny thing to say about Grin as a ‘time-coin’, but all we need is to give it some time :wink:
I mean all the stages that Grin so far has been going through are kind of what was to be expected for the project. Many appear upset that the price was going down for the first couple of years, but to all of those people, I would like to ask what did you expect knowing the Grin emission rate and the amount of circurlating Grin?
That is also why I do not believe the developers are ‘discouraged’ by the price of Grin being low since that was exactly what they and most Grinners on this forum expected. So knowing that we most likely touched the bottom, I think there is plenty or reasons to be optimistic about the Grin project since we know from here on out it will be mostly up. With the exception of the usual reocuring rants, discussions about developers getting paid to much, complains about developers not being paid in Grin, usability etc. which are fine and part of the process of improving the project. So let’s give our beautifull time coin some more time, since Grin is made for the decades to come, not just for today :grin:.

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Paying people in Grin won’t address the issues that prompted this whole debate. In fact, it may only lead to more uncertainty for developers who will have to convert it to fiat currency for living expenses etc with the added problem of high volatility added into the mix - as far as I know Walmart, Carrefour, Tesco etc don’t yet accept Grin as a method of payment.

On a related point, but not necessarily on topic, given the size of central fund, some thought should be given to managing it from a treasury perspective. Given it’s volatility and the fact that people can’t yet use crypto - BTC included - to buy most things, but developers etc need to be paid, it would probably be prudent to convert a portion of it to USD/ EURO/ GBP (probably more EURO/GBP given the way the Fed is printing $) to hedge against the likely pull-back in the value of bitcoin that is coming.

If it were really likely, then it would already be priced in.

I think nobody knows where the price is going, least of all the Grin council…


Perhaps paying people fully in Grin will not be the solution, but certainly paying developers 30%/40% in GRIN is something that is realistic. What else are we doing this all for when nobody accepts GRIN as a currency/payments/store of value? I mean. It is like developing, without believing and that for not feeling the need to put more energy into the project then needed or what you get payed for ( in bitcoin ) I wish that i had the knowledge to develop for GRIN because i would accept being payed in GRIN exclusively. My motivation would be to work hard and make sure that GRIN will be one day the alternative answer for bitcoin and many others.

Yes i understand that it can be risky, but it also create an awesome story for the rest of my life if it would succeed. ( regardless. ) That is why people start in their garages and work/fight themselves up until they reached success.

if Grin fund donations were mostly Grin,it would be possible.

And it should be from now on.

Grin should accept only Grin coin donations,not other cryptos, from this time.

Let’s keep things simple.

We accept donations in either Grin or bitcoin. We don’t convert between them, or to fiat.

Fund applicants request amounts in USD or EUR.

Upon acceptance, they choose the percentage of GRIN and BTC they want.

If there is not enough of either, then it’s paid out as the other. The requester is free to convert as they wish. We don’t want to burden the council with dealing with exchanges.

Example: If I were to request 30K EURO, and it’s accepted, then I would request 100% GRIN payout. Then there may only be enough Grin to satisfy 30% of my request, and the other 70% would be paid out as BTC.


Yes, of course nobody knows where it’s going - no argument there. I didn’t mean to suggest Grin council start speculating on the price of BTC. By ‘hedging’ I mean more about creating some certainty on the spending power of the funds ‘in the real world’. Same reason regular private and public companies perform treasury functions. I know this type of thinking is probably anathema to many in the crypto community by association :laughing:

Then we should change that into converting btc also into GRIN when someone is requesting that. There are no written rules ( i believe ) that limits that at all. Donations are freely given and can also freely spend when everyone agrees. Perhaps there are no options for that now, but we can always add new options to make it possible.

We need to think more dynamic and less limited, lets find more creative solutions.

I think this is not a good idea.
You would limit your potential developers to those who truly believe in the project.
While that sounds good in theory.
Perhaps it is a move best saved for a time when we have an excess of development talent.

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