Apologies @TakStorey but due to current market conditions, Harmony grants and investments are on hold. This includes milestone payouts for existing grants. We will keep you posted if the situation changes. Thanks.
Hey @giv, thank you for finally shedding some light on what is ACTUALLY going on with the approved grants. Up until now, none of the projects or governors have been getting a straight up answer, as far as I know. The level of incompetency coming from the core team has been astonishing but that’s a whole different story.
This being said, I have a very serious concern. What is your goal here - kill off the entire chain? Kill the majority of your loyal builders and contributors? What happens if Bitcoin plummets to $10-$13k or, God forbids, goes even lower? How can projects with smaller marketcaps or DAOs remain sustainable in these conditions, regardless of what they do? Or has it been the whole plan all along - to kill off smaller projects & humble contributors that money have been promised to, so you don’t have to pay them all afterwards? How about the governors in major DAOs like CDAO? Why haven’t they been paid this whole time while the markets were just fine? I have so many questions and this isn’t even a small fraction of them.
You guys just keep borderline exploiting people’s efforts for your own benefit with promises to commitments that you don’t seem to be planning to adhere to. It’s pretty black and white at this point. None of you take this seriously. I agree with suspending the funding for projects or DAOs that haven’t gotten approved yet but for God’s sake - pay those you have completed their jobs which they were promised to get paid for! We see how much it pains them all! YOUR OWN CONTRIBUTORS, INCLUDING DEVELOPERS AND GOVERNORS, ARE AT THE POINT OF SACRIFICING THEIR OWN WEALTH TO KEEP YOUR CHAIN GOING! How is this fair to anyone who has been so loyal to you? Why people deserve to be punished for trying to make Harmony a better place?
I’ll be taking this to social media further to show how Harmony is actually treating their governors and developers. This isn’t FUD, this is a constructive perspective of someone who has been an extremely active listener in the community and can’t stay silent anymore because the rest of the folks feel forced to be silent in fear of getting punished.
This is an extremely immature way to handle business. You don’t choose when to pay your employees or your bills!
You’re absolutely right @Heavenly_Nina . The truth is, the Harmony treasury has taken a major hit and it’s unclear how much worse the situation is going to get with the current market downturn. The temporary freeze in payouts is mandated across the board while the leadership team regroups and finds a path forward. This is a difficult decision and I apologize to be the bearer of bad news.
Sorry guys! Just been lurking on the forum & unassigned jbeltran by accident!
Btw How can i Reassign to someone else? Isnt that for moderators only?
We KNOW ‘temporary freeze in payouts is mandated across the board’ is a complete lie.
Blu3 DAO received $75K a little over 2 weeks ago. So which one is it?
I don’t mean to be personal at you as I know you aren’t the one calling the shots.
Does harmony core team really think its investors are this stupid?
The core team not think its investors and community members couldn’t easily see who is still getting funded?
Why is Harmony not firing half of the staff that does NOTHING?
Harmony needs REAL LEADERSHIP!
As a project leader, this is very concerning. Especially if this goes public. It will scare off more potential builders due to the potential view of core mismanagement and drive away current ones. We have been waiting on a grant for some time now as well. Which, the grant is appreciated, dont get me wrong and id hope in the risk of saying this im not punished for it by speaking a truth thay many share. But when i see decision making that can lead to the entire chain dying…ya…this starts to concerns me alot more. Especially with no clear timelines, no transparency, no community input taken in consideration and little communication. If this goes public, the decision to not pay commitments could backfire and cost alot more then it would have to just honor commitments. In crypto there’s a casacading effect thay can happen FAST when worry sets in with investors -look at luna,celsius etc… and as a large investor. Im worried! As time goes on, worries amplify. With lack of clear plans…its compounded. I have nothing but love and loyalty to harmony. But alot of people feel scared to speak up for fear of being punished. Which…isnt in theme of being at “harmony” with the community. Im not sure if the core team is aware…but there’s a growing undertone of worry and resentment right now in harmony. I see it daily, and it worries me being such a big investor into harmony, and how much harmony i have staked across numerous validators…lets be real…if worry n doubt sets in. Projects flee, or die out. Selling begins. Then factor in that 13k btc is likely…price drops more… commitments payouts delayed longer, causing more to leave,more projects die off, causing more negative sentiment,causing more public awareness, then real fud sets in…then panic selling continues compounded by general market sentiment. A loss of project’s confidence they migrate …and chain can die quick. Even i, at that point would be forced to unstake and sell large amounts of holdings that ive held sub 0.004cents. Its all risk mitigation and the risk of killing the chain over trying to save some money now at this point in the game doesn’t make sense, fostering loyal project growth does make sense to build a solid foundational eco. I pray this doesnt go public. Because it will create a big backlash based on the sentiment i litteraly see everyday. Im saying this as a BIG investor. If this isnt resolved soon, i forsee a big exudus from harmony. The leadership is making poor business decisions. Ive been a business owner my majority of my adult life n i see it. Theres a lack of foresight to human psychology here when it comes to potential future downfalls of choices being made at present. Being able to code and being able to run a business are two vastly different things. The tech here is awesome! Community,awesome. But there needs to be solid business leadership. Ppl are watching very closely…more closely then i think most think, and i can tell this move to pause commitments…wrong move imo. It was the right move for stopping new daos…or scam daos…but not the existing ones…that wasnt fair to the ones who can show real work done, and punishing those with pausing funding due to no fault of their own doesnt reflect well on core team decision making. Dont take any offense towards the core team directly, but business is business, and i say this from a place of real concern for harmony’s future well being. We want to be there to help bolster it n build on it. But sometimes…when your on the ship…and you see the captain mis-navigiting course into rocks, you have to speak up before its too late, and we are extremely close to the rocks rn.
I hope you guys find a decent path forward. Thank you for being straight up with us. Looking forward to hearing what the path forward is. I would probably count on btc going down more. Plan for the worst hope for the best. Hope that these grants that have been approved get some funding so that the building continues during the bear market so that we all can give people a couple more reasons (other than the insane tech) to come to harmony.
Thank you for your prompt reply Giv, appreciate it a lot. Acknowledging the problem doesn’t solve the issue at hand, unfortunately. Have any projects affected been made aware of this or are we still dragging the core team’s feet? From what I’ve heard, questions regarding the situation have been ignored for quite some time (particularly by @lij, thus I really respect you stepping up right now), so barely any project or DAO with approved funding has clear answers on what is to happen next. I can tell that people are indeed watching this thread, considering some engagement, but this isn’t enough to make everyone aware. What was the plan with all this anyway? Sink and take your builders with you as the final “thank you”? I hate to speculate like this is really hard to grasp for me. Why not give them a bit of what is still available, so they CAN maintain and build in the bear market while attracting more users to Harmony in these difficult times? Everyone was under the impression that the chain founders are here to support their developers but by the looks of it the developers and governors got abandoned by the founders as soon as things went a bit downhill. This is AN ABSOLUTELY CRUCIAL TIME to support people who build and vouch for you - not abandon them!
Could you also shed some light on Q2 CDAO funding perhaps for the sake of transparency? Are they getting paid for all the hard work they’ve done? Were they actually promised and got forgotten? For all I know, Q3 candidates don’t even expect to be funded at this point - they just seem to be planning to salvage the community by their own means, just like Q2 governors had to do.
I really do apologize but I feel a moral obligation to bring this to a larger public awareness, since it seems that without a large public scrutiny towards those who are in charge of making these executive decisions, nothing will change, while these changes need to be made quickly because Bitcoin may not hold up much longer snd it will certainly drag us with it. Without a prompt action, the dealth of our chain can be very quick. Can’t be one of those chains that just dies off like this, you’ve got so many people who still want Harmony to succeed but they don’t really have much to work with at this point.
It really is a shame that Harmony promotes itself as radical and transparent. As well as inclusive!
The only thing inclusive at this point is Blu3 DAO.
Now it looks like Novell is a part of the Harmony team as well.
Here is what happened. Mid 2021, Harmony team had no idea what to do so they followed all the other L1 projects with a $100-500M ecosystem fund.
They had no idea how they were going to pull it off. They had no ‘real world’ metrics or guidelines for DAOs to follow. Hell, majority of the Harmony CORE team still don’t know what DAOs are much less like them.
The above runs you into the current situation. Bad managers being put in major positions to run a project into the ground. I see this all over the US while auditing multi billion dollar companies. (No that isn’t to brag)
No vision. Completely abandoned tech. No planning on DAOs mid-long term. No guidance on DAOs.
It’s June 20th 2022- Still no marketing hire. Still no communications manager hired. Still no CFO.
Who in the hell is running the show at Harmony? Whoever the person is, NEEDS TO BE FIRED ASAP!
Completely out of touch with reality (As Li tells his team to go read a book or thinks the community speak in conspiracy theories) Terrible management, ZERO communication.
Harmony core team LOVES the community so much they keep us all completely in the dark with no concern or feedback.
Cut off cold turkey! This is how an organization is ran by incompetent people.
I want to shout out @giv for WILLING to come answer the tough questions!
That takes balls and that takes leadership! That’s what the community will RESPECT!
Thanks, @amartay1986 it’s definitely not our intention to keep the community in the dark. These changes are all taking place quickly and we’re doing our best to adapt and keep the community in the loop.
I did want to clarify one thing here. The last Blu3 DAO funding did occur a couple of weeks ago - this was before our new policy changes. I can tell you that there won’t be any further payouts for any DAO or grants (including Blu3).
Your criticism is valid and justified. Thanks for your honesty.
Hi @giv thank you for your time and the effort you’re putting in the matter. I sincerely appreciate it.
I just want to ask if you and the team in general are aware of the topics that popped up in this thread regarding Blu3 DAO and the people running it (please read what was flagged by an amazing “entrepreneur” without an incorporated company) . It’s pretty clear that something isn’t right here and I (and many other) would appreciate some answers on it. Also this thread may deserve some attention from who can answer.
Thanks and let me just tell you that I love how you conduct the all-hands!
Seems like you guys have been really eager to fund rugs, pointless DAOs, and projects that ended up abandoning Harmony, but when your loyal projects and governors, who keep building for you through hard times, need you the most, you end up doing them like that? My faith in Harmony is completely shattered. We need to make sure the community gets to have their say on this matter.
The least thing you can do is to pay for the completed milestones prior to your decision, people counted on your words.
And you just bail on devs just like that? GG $ONE
Btw im not targeting you giv, by “you” i mean those who decided to do this.
As someone who has been frustrated and very vocal about Harmony — chill. You are derailing the thread, which is not about grant funding for particular project, and also I believe, you are barking at the wrong tree. I have given Giv hard time in the past but he is not the individual to be bashed here. Just wanted to say it despite I have given up on Harmony as a whole.
100% Agreed. No need to be upset with Giv.
Not paying the grants for approved projects prior to the market crash is a mistake and it will ruin the chain.
Pay out what was promised.
How much is approved in grants that’s yet to be paid?
Use some of that $30m you wanna dump to pay wages and expenses to also fund the exisiting approved grants or dump and extra $3-4m to pay the exisiting grants that are further ahead.
How do you see the future of developers on harmony protocol? It feels as if it’s being shut off and new development is not welcome.
Current actions are certainly discouraging any of us developers from engaging harmony, there are seriously well established alternatives - Zilliqa being a very valid option.
Can we get any detail on why funding is halted? (Current market conditions just doesn’t cut it, we need more than that) - when might it be likely you’ll reinstate grants and funding?
Do you intend to acquire further development? Information right now is crucial to how the future of harmony protocol turns out.
I understand you are actioning the long overdue work on the never-ending RPC issues, which is a step in the right direction, but to halt potential development could have catastrophic effects for the protocol.
Could you please tell me what roles do Novell, Amy and AI have for Harmony moving forward?
I see their names listed but the topics are not very defined.
You can see a list of all contributors here. 1000 Contributors ($7.8M)
Amy and Novell are partners. Al is helping with investments and partnerships.
Since this information was posted here. I just want to have a clear answer on that. When you say that “I can tell you that there won’t be any further payouts for any DAO or grants (including Blu3)” you are actually putting in this same “bowl” the core DAOs like VDAO, CDAO and DevDAO? That the terms started months ago and did not received or got funded partially? So you’re saying that those DAOs that were working until now, without ANY fair compensation will still wait in the line to receive it for “when the market gets better” ? FFS…don’t make it worse for harmony than it really was. CDAO just stated that they’re going to pause their activites until further commitment from the core team, and so the others I thinn would do the same. Who will coordinate efforts like the fork at epoch 999 to run smoothly? Who will spread the news and keep the community informed if not the CDAO? … don’t make the things worse, please.