MIP#58

MIP# 58
Title: Establishment of MVC Foundation
Author(s): MVClabs & Committee
Contributors: 
Editor: N/P
Date Proposed: 2024.12.17
Date Ratified: 
Dependencies:
Replaces: N/P
Exception to MIP: N/P

  • Vote Option:

A) Support the Reform: Give the green light to the proposed measures and move forward with the new structure.

B) Oppose the Reform: Give the red light to the proposals and maintain the current structure.

  • Objective 🎯

While MVC's decentralized DAO system has its merits, it also presents challenges in efficiency and accountability. To address this, we propose

1) The formation of the MVC Foundation.

2) As the current department heads and committee's terms naturally end on 15 January 2025, all existing department heads and committee members will transition all handling tasks to the MVC Foundation on or before January 15, 2025. The operation will be under the control of the MVC Foundation and will remain in place until a professional operational entity is ready to take over the operation of MVCDAO in the future.

  • Proposal Reform Summary:

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  • Section A)

The Formation of the MVC Foundation

Following extensive discussions and careful consideration by the MVC Committee and MVC Labs, we are pleased to propose the following individuals for the respective positions within the MVC Foundation:

  • Sunny: Nominated for the position of MVC Foundation's Leader, leveraging his experience as the Chief Developer of MetaID.

  • Jackie: Administration and Accounting

  • Kellie: Eastern Ambassador & Compliance Officer

  • Tony: Western Ambassador & Social Media Coordinator

  • Fck, Teye & Lufe: Advisors and Moderators

In order to ensure efficiency and leverage industry expertise, we plan to outsource network awareness initiatives to established third-party agencies.

Additionally, we warmly invite professionals from various fields who align with MVC's vision to join us in this endeavor. If you are interested, please send your self-nomination along with your proposed position to marketing@microvisionchain.com. Let's build MVC's future together.

Remarks:

1) All members are subject to change and appointed by the MVC Foundation Leader.

  • Section B)

B) Treasury Reform:

  • 5% for Development (1,050,000 coins): Covers long-term nodes, infrastructure, APIs, the official website, etc.

  • 5% for Network Awareness and General Administration Costs (1,050,000 coins).

  • 5% (1,050,000 coins) for New User Onboarding: We plan to attract 2-3 million users to MVC through partnerships with multiple applications, utilizing methods such as covering on-chain fees and airdrops. Any unused funds will be burned. Further details of this plan will be announced later.

  • 350,000 coins reserved for liquidity enhancement, liquidity service provider's service charge.

The remaining treasury will be airdropped back to miners, with 1/3 allocated to jointly reward BTC miners and 2/3 to reward MVC [Space] miners by increasing the coins mined per block.

Note for Section B:

  1. The above treasury arrangement does not include the reserve for future top-tier CEX listing.

  2. The remaining treasury will be transferred to the Sinohope system for observation by a professional third party to enhance transparency and accountability.

  3. Amendment to MIP-39 Section 14: The multiplier factor will change from 0.95 to 0.93 for member and developer's contribution and change from 0.95 to 0.9 for sundry expenditure's reimbursement.

Section C: Accelerated The Remaining Liability's Release

To put an end to the ongoing debate about the 70K coin monthly liability to early contributors, we propose a full distribution of the remaining 'space' for these contributors within 30 days after January 15, 2025.

Section D: 🗳️ Community Option 🗳️

This reforms aim to ensure MVC's long-term development and growth, enhancing its governance, reduce inefficiencies and expanding its user base. MVC community now has the opportunity to shape this direction.

  • Support the Reform: Give the green light to the proposed measures and move forward with the new structure.

  • Oppose the Reform: Give the red light to the proposals and maintain the current structure.

Section E:👣 Next Steps 👣

The transition of all existing tasks to MVC Foundation will occur on or before January 15, 2025, ensuring a smooth transition and continued operation.

  • Disclaimer and Remarks:

1) Disclaimer on Investment Intentions

Due to regulatory compliance and legal purposes, in the Official MVC Channel and general real life conversation, Space cannot be acknowledged or discussed as an investment vehicle. Please respect the official channel policies and adhere to them, as they are mandatory for all members. Thank you for your understanding.

Decisions to acquire or use Space for speculative or investment purposes are solely at the discretion of the individual. MVCDAO explicitly disclaims any responsibility for losses that may arise from such actions. Members are urged to exercise caution and make informed decisions.

2) No Assurance on Space Value

Please note that MVCDAO does not make any commitments or guarantees regarding the value of the network gas: SPACE.

3) No Investment Advise:

This proposal is focused on enhancing the visibility and sustainability of the MVC network. It is important to note that the arranagement mentioned in this proposal do not constitute investment advice. Participants and all members should refrain from interpreting it as such.

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