The existing Grin Foundation and the Community Fund are not competitors

After publishing the last post on the creation of the Community Foundation, I was slightly upset by the lack of interest, and in some cases the discontent of certain personalities.

Let me be clear

The public foundation does not seek to compete with the existing grin fund, but only complements it. The function of the funds is not aimed at intersecting, which means that they must communicate on all issues.
The Public Foundation aims to cooperate across the entire spectrum of events.

This is important to understand!

The Public Foundation is the first fund responsible for the economics, popularization and protection of grin.

Let me state my point and you will see that my desire is sincere.
It will take me some time to present this idea well, I would not want the information to be misunderstood by the community. Moreover, the task is to prevent the use of information for selfish purposes.

Be kinder, more honest and always give a hand to those in need, the reward will be incommensurable„ÉĄ

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In principal there is nothing wrong with having another fund exist that focuses on business development for Grin.
Although I personally do not object for any new kind of fund, I think there are a few obstacles.

  1. It will be very hard to find people who would chose to donate to this ‚Äėcommunity business development fund‚Äô over the two existing funds. As you can see from the lackluster response, I think most community members would not donate to this new fund.
  2. This new fund only has limited added value since the community fund and original fund also support any kind of useful ecosystem development.
  3. Although in general there is nothing against this new fund proposal, the main issue is that it does not really solve any existing problem. Basically Grin is doing fine as it is, and without a problem, the new Grin Foundation you propose begs the question what would be its’raison d’être’?

The community will not donate its money, the community will invest in businesses, in business corporations, thereby taking care of the financial situation… Part of the income from the business will be spent on grin, the community will have mutually beneficial benefits… but this is the second part project… For the mechanism to work, it must take into account the efforts of everyone, and this will be taken into account.

Taken from the spending guideline:

Inappropriate use of Funds

  • Financing actions that can harm Grin as a Project is forbidden. A formal list of harmful actions listed below
  • Financing projects incompatible with current RFC, as they could lead to a fork.
  • Funding art which is vulgar and explicitly offends a person or a group of people.
  • Covering the expenses of resources for illegal purposes, such as causing DDoS attack of someone‚Äôs service for example.
  • Investing money in physical or digital assets.

No funds will be used for commercial purposes.

Thanks, I’ve read. We do not count on grants from the existing fund, and do not advocate for this.

I think you two are talking past each other. IIUC, @Mykhailo doesnt mean that the ‚Äúcommunity fund‚ÄĚ :tm: will be providing any funds for this. He is sharing an idea for a new fund, which will raise its own money, from its own sources‚Ķ likely community members. Correct me if I‚Äôm wrong.

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Thanks for the clarification.

Yes, your wording is more than accurate. I will try to be more specific.