Posting on behalf of the VDAO
Pops two testnet proposal Terms for Funding
Miscellaneous work
Additional work outside of this agreement must be requested and approved by the VDAO for funding. This includes requests from the VDAO, Harmony, and POPS team. Any work done without prior authorization WILL NOT BE PAID.
Terms for funding
$18k USD will be paid by the VDAO in $ONE tokens monthly. We will withhold 10% of the monthly payment and pay it back at the end of the 1 Year term. The final payment will be 42k (18k + 24k). The total funding amount will be 240k. If there is a request to the termination of this agreement via POPS or from the VDAO, the withhold funds of 10% will be paid out on the following day of the last date of service. This is including the final 2 months of service. (Termination of service is detailed in section “Request for Termination of this Agreement”)
(DATES:TBD)
Funding will be determined by the completion of the agreement per month.
Failure to uphold this agreement will result in a deduction of funding from the initial start of failure. Each day is equivalent to $666.66 in a month of 30 days and $645.16 in a month of 31 days. (30 days) $666.66/24 hrs = $27.77 per hour. (31 days) 645.16/24 hrs = $26.88 per hour. If the failure of upholding the agreement extends for the totality of the month, the result will be no payment for that month.
PANGAEA (stable testnet - the one currently active) was proposed a 99% uptime and recovery within up to 4hr from incident. VDAO will expect a 5 hour recovery. After the 5 hour mark we will begin deducting hourly per the initial point of failure per the rates noted above by the qualifying month.
PANNOTIA (unstable testnet - have to create it) was proposed a 90% uptime, & recovery within 24hr from incident. VDAO will expect a 25 hour recovery. After the 25 hour mark we will begin deducting hourly per the initial point of failure per the rates noted above by the qualifying month.
Exceptions for these terms can be reviewed by the VDAO following a report by POPs and will be put up to an internal vote in the VDAO to continue to approve the funding for those hours missed.
Request for Termination of this Agreement
At any given time any party can request a termination of this agreement with the following conditions.
For POPS:
A 2 month notice of termination of this agreement to allow the VDAO to take support of both testnets.
For VDAO:
A breach in uptime on either testnet from the original agreement. This also will be a 2 months notice take over both testnets. This condition does need to be approved by the validators and not the VDAO. The following qualify.
Stable testnet: Avg below 94% for the month
Unstable testnet: Avg below 84% for the month
These terms and conditions are to be debated before finalization.