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Proposal "AdditionalFunds4CryptoLawyer10KTRC" (completed)Back
|One-time payment:||10000 TRC (317.85 USD)|
|Completed payments:||2 totaling 20000 TRC|
|Payment start/end:||2018-11-04 / 2018-12-22 (added on 2018-10-30)|
|Votes:||212 Yes / 0 No / 0 Abstain|
|Will be funded:||Yes|
Manually vote on this proposal (Terracoin Core - Tools - Debugconsole):
To Vote 'Yes': gobject vote-many c933b2a2dc1e93b052f1299276fc150567067625656d40d591279cde3badd8e0 funding yes
To Vote 'No': gobject vote-many c933b2a2dc1e93b052f1299276fc150567067625656d40d591279cde3badd8e0 funding no
To Abstain: gobject vote-many c933b2a2dc1e93b052f1299276fc150567067625656d40d591279cde3badd8e0 funding abstain
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For those who have been following the efforts to secure the Foundation’s 501 status, and ensure regulatory protection, you know we’ve come up against a wall.
Long story short, everyone agrees we need a qualified lawyer, but they are expensive ($30K was the cheapest of all the lawyers we’ve spoken to that fit the bill). We’ve inquired getting lawyers to take us on as a client pro-bono, but have essentially been told “No, thanks for asking.”
While we’re in this holding pattern of not having enough money to pay a qualified lawyer, I am suggesting that we continually add to our lawyer fund when it makes sense (ie no other proposals will be affected).
A combination of factors will go into when to use the funds, like overall market sustainability, price, volume, whether the qualified lawyer accepts TRC, but one of the most important factors will be that the decision to spend the funds will be made not by one person, but by the founding and most active members of the Foundation.
The impact that squaring away the legalities of the Foundation's future is paramount. Securing non-profit status and remaining compliant in the eyes of the US's regulatory system will impact ALL of the TRC community and its future, as well as its ability to positively impact the world. These are necessary protections against a currently unsure regulatory climate that could result in the shutting down of the Foundation over-night if not put in place, which I think we all would agree, would be extremely detrimental to Terracoin, and erase years of dedicated work.
I know it’s not a fun or very interesting proposal, but the bottom line is, unless someone can come up with $30k or find a qualified lawyer to get the Foundation where it needs to be, it’s the best option to progress with this objective that I can conceive.
As per usual, the funds will transferred directly into the “Crypto Lawyer Fund” multi-sig address already established for this aim. That address is 3QoZjhc1xfEpMf3s3QLAkDmqHKww2k9h24. Below are links to check out the address yourself.
It is currently no.92 on the Richlist, and should this proposal pass, it will be No.71
Should we encounter a future situation where funds for a lawyer are still available once we secure non-profit status and ensure regulatory protections, they will be utilized in other operational capacities or put towards donation masternodes.
I am encouraging everyone who believes in the Foundation’s mission of Helping the World through Terracoin to PLEASE VOTE YES! If you are unsure, please ABSTAIN, or vote NO after much consideration, should your conscious tell you that is the right thing to do. Thank you.
Discussion: Should we fund this proposal?
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