Go Immutable Efficiency Update

Previous Updates
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ORIGINAL PLEDGES START
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TECHNICAL

"Provide Top-Notch Technical Support"

"We have the ability to scale up tech as fast as the protocol demands. We also plan on maintaining tech specs in the top 15% of all Authority Servers."

DEVELOPMENT

--Collaborate with other ANOs for development

--Establish a platform for tracking progress of entities

SALES/END-USERS

--Onboard new enterprise clients

--Determine the needs of enterprise clients

TESTNET

--Four Testnet nodes

COMMUNICATION

--Keep the community updated on any relevant news and allow standing parties to track progress
----Basecamp for project management
----Trello, Asana or Jira for development projects
----CRM to track relationships

FCT PRICE IMPACT

"We’ve extensively modeled FCT price changes and have contingency plans for a worst-case -scenario ($5 FCT). Not only can we survive that scenario, but we would be willing to step up and run more servers should other entities drop-off. We’re also well-capitalized and have the ability to operate in the red for extended periods of time."

PLEDGED EFFICIENCY

2 nodes: 50%
1 node: 50%
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ORIGINAL PLEDGES END
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Relevant links:
- Forum Q+A
- Aggregated pledges
- Application
- Supporting documents
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Here is a high-level breakdown of Go Immutable pledges as of October 3, 2018

TECHNICAL
We've changed system admin teams several times (once an attempt at enterprise-level support) and recently rebuilt our infra from scratch. Additionally, our servers did go down for a handful of minutes after we terminated our relationship with Rackspace (wow, what a coincidence :rolleyes:). We don't consider that "top notch." Most importantly though, both our rebuilt infrastructure and retooled support are now at a place we consider "top notch."

We pledged 4 testnet servers back when FCT was $30ish. This was dumb. No other way to put it. We are currently running 1 server because our capital is much better spent elsewhere. If there is a need for more servers on the testnet, we can step-up.

DEVELOPMENT
*We've worked closely with several development ANOs and look forward to continuing this relationship. I bother the crap out of them with questions. They can attest :)
*As far as establishing a platform to track ANO progress, Matt formed the "ANO Contribution Committee" and the committee decided to use Factomize as the platform.

SALES/END-USERS
We've been working our tails off to bring on enterprise clients/Fortune 500 clients. We've also had some conversations with the public sector. These sales funnels are long, unfortunately. However, we have a ton of good things in motion.

COMMUNICATON
*We've provided a breakdowns of Go Immutable's progress on our blog:
https://medium.com/@greg_9853
*We use Basecamp and Trello on a daily basis

FCT PRICE
*Well, my modeling was accurate, unfortunately. FCT is at $5. As pledged, we are fine operationally and would be happy to run more servers.
*Also, we have not sold any FCT into the market (not that this was a pledge).

PLEDGED EFFICIENCY
*Adhered to this pledge
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HIGH-LEVEL NON-PLEDGED CONTRIBUTIONS (as of October 3, 2018)

*Partnered with Liberty Advisor Group (100+ consultants, Fortune 50 clients, public sector connections, etc.). GOI has been providing value to Liberty clients from a blockchain perspective. The goal is to onboard them to Factom. Yes, NDAs preclude us from talking about much of this, unfortunately.
*Public sector Factom conversations happening (that's all I can say)
*Building up sales channels outside of Liberty connections (logistics, pharma)
*Member of CompTIA Blockchain Cornerstone committee (along with Microsoft, Dell, and a half dozen others). CompTIA has licensed over 2 million IT professionals. They are second largest IT credentialing company (Microsoft #1). We are helping craft CompTIA's blockchain programs.

*Spoke with half a dozen law firms about obtaining legal support for community
*Helped establish Legal Research Working Group (grant recipient). Work with legal on decentralization, foundation, etc.

*Still working with insurers (Lloyd's) on getting custom insurance for Guides. As you can tell, we keep on moving up the ladder. We finally got to Lloyd's after a dozen or so hours of work/conversations.

*Marketing committee co chair through September
*Constructed list of industry PR contacts
*Provided community with marketing roadmap (20 plus pages)

*Formed "ANO Contributions Committee"
*Reviewed all 21 pledge campaigns, google forms, and forum posts from ANO Round 1. Consolidated pledges into 40+page Word document
*Currently leading this process (yep, literally the one you are doing right now :smile)

*Constant participant in all things Governance (grants, standing parties, tiering, voting procedures, etc.)
*Attended vast majority of Guide meetings
*Attended all ANO meetings
*Constant provider topics to be discussed during ANO meeting
*Multiple in-person meetings with ANOs. Many more phone conversations.
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GENERAL STATEMENT ON INITIAL PLEDGES (originally posted October 3, 2018)

The price drop in FCT has hit a lot of ANOs hard. Go Immutable is no different. Additionally, with a project as young as ours, things change. An endeavor that seemed like a good idea at the time may not make sense a few months down the road. Therefore it's Go Immutable's position that ANOs not so much be measured based-on adherence to their pledges, but instead be measured on whether they provided the equivalent amount of time/effort/energy/output that their initial pledges would have required. For example, the price of FCT forced an ANO to mothball a DEV project. Fine. But, did the ANO find other, less costly ways to further the project? Did they participate in committees? Did they help on testnet? Did they write content for the neutral website? Are they providing value on Factomize? Basically, are they moving our project forward? If so, a failed pledge is not a big deal in our eyes.
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Q4 Go Immutable Update

1. We are lowering our efficiency to 30%


*Go Immutable has dedicated a tremendous amount of time and effort to furthering the protocol since its launch. We estimate we're near the to in regards to contributions made to the protocol. In our opinion, we've drastically exceeded our campaign pledges and have been a key player in regards to advancing the protocol.
*Additional FCT revenue will be put towards endeavors that will grow the protocol as opposed to GOI member payouts
*We also strongly believe in incentives. By "incentives," we mean "rewards." For those of you that are psychology/human behavior nerds, you already know that providing a proper reward structure creates desirable behaviors. In the Factom (R) Protocol's case, a proper incentive structure would encourage ANOs to dedicate more resources (time and money) to helping the protocol grow. That's a huge win for all ANOs, FCT holders, etc.
*Without a tiering system, efficiency is a messy topic. Therefore, here's our view:
*Under-performing ANOs, in regards to their campaign pledges, should raise their efficiency
*ANOs that are on par with their campaign pledges should keep their efficiency at what was pledged
*ANOs that are overachieving should lower their efficiency
*An ANO's efficiency needs to be inline with the value they provide to the protocol
*This methodology ensures three things:
*ANOs operate under a "prove it" model. Meaning, they are judged by their actual output.
*ANOs are incentivized to provide more time and resources to growing the protocol
*All efficiencies are inline with value provided to the protocol
*We'll be putting our money where our mouth is on this one and leading by example

2. Enterprise Client relationships
*These are progressing. Nothing to announce yet though. We need to be careful about his after having a CIO question us about one of our previous ANO updates on Medium. :( They obviously value secrecy. We'll do our best to communicate effectively with the community about our progress.

3. CompTIA Blockchain Cornerstone Committee
*As a reminder, CompTIA is the second largest IT credentialing entity in the world, having licensed millions of professionals
*Mission complete. Educational materials are being created and the Committee has been wound down.

4. We were asked to join the CompTIA Blockchain Advisory Council
*Other companies on this committee include Microsoft, Dell, RedHat/IBM, and about a dozen others.
*CompTIA’s Blockchain Advisory Council (BCAC) will represent the Blockchain industry by bringing together blockchain thought leaders. The BCAC will work together to provide valuable resources and tools to help businesses, executives, engineers, and more to adopt blockchain technology as well as those selling blockchain applications.
*There will be quarterly meetings rotating between various cities in the USA with potential speaking opportunities at conferences and educational workshops

5. ANO Pledge Contribution Working Group
*Collected and publicly posted all pledges from PDFs, Forum Q/A, and official application. This was essential for ANO accountability
*Confirmed accuracy of pledges with all ANOs
*Question and Answer period for all ANOs
*Solution created for ANOs to provide community updates as well as take questions from the general public
*Having concluded its mission, this committee is in the process of being wound down

6. Legal Research Working Group (extremely high-level)
*Decentralization/Security Analysis
*Non-Profit/Foundation exploration
*Trademark/Rebranding/IP solution exploration
*CLA/Licensing Issues

Not going to go into details here since this is a public thread other than to say that this has been a monumental undertaking. Thank you to @Shuang Leng for all of her hard work over the past 4-5 months and thanks to @Nikola for his legal contributions over the last month.

7. ANO and Guide Insurance
*Two more calls about Guide insurance since our last ANO update. We're simply awaiting a quote at this point.
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BLOCKCHAIN AS A SERVICE/ENTERPRISE SALES
  • Continued conversations with potential enterprise clients
  • Continued conversations with development ANOs regarding partnerships. Development ANOs seeks to sell their their product/service. Go Immutable provides connections to enterprise clients
  • Greg attended the CompTIA Blockchain January Meeting.
  • Greg attending the BiTA (Blockchain in Transportation Alliance) event held in Chicago in January
    • At meeting, met several logistics enterprises and have follow-up meetings in the works
    • Additionally, met some application providers that were interested in learning more about Factom ® Protocol
  • Greg had a preliminary meeting with an organization that has been tasked with reviewing how blockchain may play in 3rd party credit score space. - January
  • Greg met with the head of Business Development at the UL Labs in Chicago. This is manufacturing innovations labs for enterprise manufacturers to innovate and learn. The lab was originally funded by the US Dept of Defense and has paid memberships from enterprises like Dow, Lockheed Martin… (see more here). Additionally several universities and government entities are involved. We are continuing the development of this relationship. - January

GOVERNANCE CONTRIBUTIONS

LEGAL RESEARCH WORKING GROUP (latest report)
  • Matt is Co-Chair
  • Current Projects:
    • Draft of bylaws for Non-profit Foundation
    • Factom ® Protocol GDPR Compliance (Website, Factomize.com, Google Drive, etc.)
    • Governance document clean-up and fine-tuning
    • Proper Committee and Working Group structures in a decentralized environment
Recent Achievements:
  • Research on best jurisdiction for Non-Profit Location
  • Community-wide Factomize Discussion and Vote to approve Non-Profit Creation
  • Factom Inc and Factom ® Protocol Decentralization
  • Ongoing dialogue with Factom Inc regarding blockchain industry/SEC matters
  • Exchange Committee Assistance
    • Many exchanges require a letter from a lawyer stating that the protocol is decentralized. This is a serious challenge due to regulatory uncertainty. We have introduced several creative solutions to this challenging problem
    • Researched other projects that have received listings on prominent exchanges. Attempted to gain insight from these projects.
    • Facilitating contact with general counsel of prominent exchange (in process)
  • Marketing Committee Assistance
    • Facilitated process of logo licensing for marketing committee (merchandise creation)

ANO CONTRIBUTIONS COMMITTEE
  • The committee was successful in regards to all ANOs verifying their original ANO pledges
  • All of these pledges are now documented in Factomize
  • This was the first step in the the new structure of the ongoing ANO reporting process in Factomize (link)
  • Committee disbanded due to successful project completion (link)

GRANT ROUND - BACK PAY AND ABILITY TO SELL PROJECTS
  • Go Immutable introduced and lead the endeavor for developers to be able to sell finished projects to the community as well as request payment for development work already accomplished
  • Discussion #1
  • Discussion #2

GRANT ROUND 3
  • Due to social repercussions, ANOs may sometimes be hesitant to ask “the difficult questions.” Go Immutable stepped-up to fill this void by asking “the hard questions

GUIDE INSURANCE
  • After many months of working with policy writers/insurance companies, was able to receive quote for insurance for Guides (link)

ANO INSURANCE
  • Put approximately a half-dozen ANOs in contact with an insurance provider that offers ANO Insurance

MARKETING COMMITTEE
  • Greg is member of the marketing committee
  • Greg has attended 2 meetings in 2019 and is planning more involvement
  • Greg has volunteered to help with marketing 2019 roadmap
  • Greg performed audit of paid search marketing endeavor. Due to finding serious issues, recommended the campaign be paused.

ONCHAIN GOVERNANCE IMPLEMENTATION WORKING GROUP
  • Spearheaded the creation of the “Onchain Governance Implementation Working Group”
  • Matt will offer to be Co-chair
  • The Discord group has been set-up and will begin work when the grant round is complete

CORE DEVELOPMENT PUSH
  • Go Immutable has been very vocal about the imperative need to scale-up mainnet robustness as quickly as possible
  • We have had many conversations with ANOs about this and have encouraged technical-savvy ANOs to submit Core Developer grants during grant Round 3. Thanks to those that stepped-up!

CONTINUED PUSH FOR ANO ACCOUNTABILITY
  • *Introduced clause recommending that an ANOs efficiency be inline with the value they provide to the protocol. This was accepted by the community (link).
  • Supported Cube3 in lowering of efficiency (link) after they had outperformed their current efficiency

VIDEO CREATION NETWORKING
  • Go Immutable reached out to former ANO Block party. Former Block Party member Jon was formerly the co-founder of an international VFX with over 600 full-time employees (the company was eventually sold). Go Immutable hoped to tap into some of their industry connections for cost-effective solutions.
  • Jon provided contact information of two videographers, which were passed on to the community in the Factomize Marketing Video grant

GENERAL FACTOMIZE DISCUSSIONS
  • Go Immutable was one of the most active ANO in regards to Factomize discussion participation
  • Example: Trial ANO Period Factomize Discussion
    • Originally introduced the idea of a Trial ANO period
    • Conversation yielded the potential establishment of a new working group to explore integrating a “confidence/no confidence vote” for all ANOs at a future date
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Efficiency Update: @Greg Forst recently announced he would be taking over the role of marketing chair. As outlined in his post (the section titled "efficiency"), Go Immutable already contributes a ton of hours to protocol growth and cannot justify Greg running the marketing committee without Go Immutable receiving added compensation. Therefore, Go Immutable will be dropping our efficiency to 15%. We hope that this efficiency drop is temporary, as the current plan is to submit a marketing grant during the next grant round that builds-in Go Immutable's compensation via the grant.
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As mentioned 3 weeks ago, Go Immutable lowered our efficiency due to @Greg Forst taking over the marketing committee role as well as the number of hours Go Immutable as a whole puts into the protocol through various other contributions. As also previously mentioned, Go Immutable's plan was to submit a marketing grant and have Greg's compensation be part of the grant. We are putting the finishing touches on a grant and will submit it tomorrow. As a result, we are now raising our efficiency back to 30%.
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Preface: We've noticed from other ANO Updates that it has become difficult to tell which work an ANO performs falls under a "grant," and which work is put towards justifying an ANO's efficiency. Therefore, we're going to softly propose the new below format of "Efficiency-Related Work" and "Non-Efficiency-Related Work (grants)." Hopefully, this makes for easier reading as well as evaluation an ANO's Contributions.


EFFICIENCY-RELATED WORK

LEGAL RESEARCH WORKING GROUP - MAJOR PROJECTS

1. Non-Profit Bylaws (current version)
The standing parties recently voted that the bylaws were ready to be taken to a Wyoming-licensed attorney for review. We are currently working with a WY-licensed attorney. Once the attorney has provided feedback, we will present the third draft of the bylaws to the community for discussion and potential ratification. The timeline for discussion to begin is a week or two. Other high-level steps needed include (in no order): (i) Assessment of risk for potential Non-Profit Directors, (ii) election of directors, and (iii) the actual formation of non-profit.

For reference:
Discussion on the first draft of bylaws
Discussion on the second draft of bylaws

Huge thanks to @Nikola Nikolov and @Shuang Leng for all the hard work in getting the bylaws to this point.

2. GDPR
@Matthias Fortin is project lead for the Factom Protocol compliance with GDPR and is doing a phenomenal job. The LRWG is providing assistance where necessary. Thanks to @Alex , @Valentin Ganev , and @Steven Masley for their technical contributions; the GDPR attorney had some very technical questions.

For more info on GDPR, please read the GDPR Project thread

3. Decentralization Comparison Grid

The SEC stated that both Bitcoin and Ethereum are sufficiently decentralized (they are no longer considered "securities"). While the SEC's public statement is not legally binding, it does give us a target for which to shoot. @Shuang Leng has created a Factom/Ethereum grid comparison in regards to decentralization (assistance provided by LRWG). If Factom can get on the same level as these two projects, then we should be in great shape. We are in engagement talks with a lawyer at a very well-respected global law firm in order to get an outside review of FCT's decentralization status.

LEGAL RESEARCH WORKING GROUP - MINOR PROJECTS
  • Monitored legal/regularity updates. For example, the May 9th FinCen guidance
  • Provided feedback on Factom Governance (1.4 and 1.5)
  • Reviewed other community documents (e.g., grant Round #3 document)
  • Helped @Anton Ilzheev with Open API license
  • Provided feedback on “Website Committee" Formation
  • Had an introductory call with Factom Inc's new general counsel. The call was great. We are looking forward to working with Ted.

MARKETING COMMITTEE
  • Greg created Marketing Committee Roadmap Document - 2/19 (thanks to @Brooke Glew and rest of the marketing committee for input)
  • Greg worked with the marketing committee to finalize and release to the community by 3/20
  • Greg took over the management of the paid marketing grant
  • Greg had marketing Chair transition call with @Ben Jeater and @Vince
  • Greg had a call with @liveanddie (Rami) to discuss new member activation and marketing in general
  • Greg had a call with MaxLamba (@Keith Pincombe) to discuss email marketing
  • Greg had a call with Siverpro (@Jens P Kåven) to get an update on the Paid Marketing Grant in order to ensure a smooth transition of the grant
  • Greg demo’ed a social advocacy tool - Bambu, floated concept to several community members for feedback - 3/19
  • Greg created an "events" research document for potential events in which the Factom Protocol could participate
  • Greg had a call with the founder of the Voice of Blockchain Conference and gathered information for potentially getting involved in the event
  • Greg gathered information from the Blockchain in Transportation Alliance (BiTA) about the Factom Protocol becoming a member
  • Greg has been working with @Matthias Fortin with input from the marketing committee regarding posting to all social channels
  • Greg worked with MaxLamba (@Keith Pincombe ) to get graphics created for social posts
  • Greg attended and lead all marketing committee meeting (2 per month)
  • Greg created documentation that was required for these meetings
  • Greg created draft dashboards to automate the pulling of marketing data for analysis. This involved connecting data sources and leveraging tools to automate the collection from several platforms. This will be the foundation of ongoing reporting for the marketing committee. Thanks to @DanG and others for helping drive this
  • Greg has created an audience research document that is in the process of being converted into a digestable document that can be leveraged moving forward. This document will be fluid as we find winners and losers. (thanks to @Brooke Glew and rest of marketing team for input)
ONCHAIN GOVERNANCE WORKING GROUP
Matt created the Onchain Governance working group with the goals of:
(i) Laying out an actionable plan to implement onchain voting
(ii) Adding FCT Holders as a standing party

Note: Go Immutable created the group, recruited the necessary technical talent to join the group, and helped move the dialogue forward. The heavy lifting in regards to finding a solution though was done by @David Chapman @Valentin Ganev @Paul Bernier @Niels Klomp @David Kuiper @Matthias Fortin @Julian Fletcher-Taylor @Who @Tor Paulsen . Big thanks to everyone, this was definitely one of the more complex tasks the protocol has undertaken to date.

The standing parties voted 26-0, with 2 abstentions in favor of the proposed solution


WEBSITE COMMITTEE
*Matt was elected by LRWG to be our group's representative

GENERAL CONTRIBUTIONS
(i) Greg attended CompTIA Blockchain Council calls in February and April (CompTIA is the second largest IT credentialing company in the world)
(ii) Greg attended 3-day in-person planning meeting for CompTIA Blockchain Council in March
(iii) GO Immutable Contributed 101 FCT to Triall after Grant Round 2


NON-EFFICIENCY-RELATED WORK (Grants)
Go Immutable recently proposed a "Comprehensive Strategy & Execution" market grant. This grant was approved by the standing parties. For details on the grant, please read the marketing grant's Factomize thread

Thanks for reading!
Current Update: Go Immutable Efficiency Update
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#1
Go Immutable will be pursuing a large development opportunity and has reduced its efficiency by 20%, which is in line with the typical efficiency drop by ANOs that are pursuing development opportunities. We are extremely excited about this opportunity as we think it will pay huge dividends for the protocol. The opportunity is currently subject to NDAs, so details cannot be provided at this time. We will update the community as soon as possible.

Thanks,
Matt
 
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#4
Also is this a product, an integration? Will it be made open-source? Are you pursuing a future grant if the timeline is into next round?

Although under NDA, I really like to get a little more info, especially when a non development ANO lowers with only mentioning NDA. Don't get me wrong, it is really good to see this, but I really need a little more info to fully support it ;)

This reaction and previous one in this thread I made as chairman of the ANO Blockchain Innovation Foundation btw
 
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#5
Can you provide a timeline on the project?
@David Chapman There are multiple large parties involved in this project. A more accurate way to describe this probably would have been for me to call it a joint venture. Therefore, I am hesitant to give a timeline other than to say we will have more details in our next update. If you are asking in a round-about way though if this is a year-long project though, the answer is "no."

Could you inform us about how this development is taking place as your ANO does not have developers on board AFAIK?
@Niels Klomp You're right, we don't have in-house developers. As such, like any business that does not have in-house developers, we have agreed to work with extremely capable outside developers.

Also is this a product, an integration? Will it be made open-source?

Although under NDA, I really like to get a little more info, especially when a non development ANO lowers with only mentioning NDA. Don't get me wrong, it is really good to see this, but I really need a little more to fully support it ;)
Open-source is TBD. We're going to try our best, but cannot make any promises at this time due to the joint venture nature of this project.

Finally, as you personally know, Go Immutable has some extremely strong connections to some very larger entities. If you'll recall, you personally helped us pitch a Fortune 500 company :). Thank you.
 
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#6
@Niels Klomp You're right, we don't have in-house developers. As such, like any business that does not have in-house developers, we have agreed to work with extremely capable outside developers.
It not only takes experience from these outside developers but also from the people in charge of the direction. As software development is not something you just do, especially not in a long project.

These outside developers, do they have ties into the Factom Protocol? Who is bringing in the blockchain knowledge for instance?


Open-source is TBD. We're going to try our best, but cannot make any promises at this time due to the joint venture nature of this project
How do you view the possible closed source nature of it with regards to your stance on closed-source grants?.

Finally, as you personally know, Go Immutable has some extremely strong connections to some very larger entities. If you'll recall, you personally helped us pitch a Fortune 500 company :). Thank you.
I know, and also know that we (Sphereon) offered all kinds of help and on several occasions educated you personally. Not much came out of it unfortunately. It is nice to have the connections, but that does not say anything about whether you could perform a large software project or bring it home.

Don't get me wrong, I am excited for you and the protocol, but also at the same time worried when lowering efficiency by an ANO without development experience taking on a project, for which you do not seem to be able to give any info at all and not even can mention the license type (that is one of the first things you need to make sure in any project. IP/copyright holders, license and possible distribution licenses)
 
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#8
It not only takes experience from these outside developers but also from the people in charge of the direction. As software development is not something you just do, especially not in a long project.

These outside developers, do they have ties into the Factom Protocol? Who is bringing in the blockchain knowledge for instance?
One of the entities on this project has literally managed hundreds of projects with some of the largest companies in the world. We're good on the project management side of things. Additionally, partnering with developers that are capable of actually executing a project on Factom was at the top of our list of requirements for developers with whom to work. We're also fine on that end. Unfortunately, I can't go into details on specifics at this point in time. Apologies, I know that is frustrating on your end.

How do you view the possible closed source nature of it with regards to your stance on closed-source grants?.
You're right. We were against this. However, approximately 75% of standing parties voted to approve a grant for a private solution that had previously reduced efficiency to fund the product. That left Go Immutable with a choice to make:

1. Continue to fight against the community even though 75% had voted in support of FCT being given to a private solution that dropped efficiency to develop (who also had to hire outside developers, just like we are)
2. Switch gears and accept the community's decision.

We chose option number 2.

Also, please keep in mind we did not say that this was closed-source. I simply said TBD and can't make any promises. Big difference.

Are you pursuing a future grant if the timeline makes it into next round?
We have not discussed this.

Don't get me wrong, I am excited for you and the protocol, but also at the same time worried when lowering efficiency by an ANO without development experience taking on a project, for which you do not seem to be able to give any info at all and not even can mention the license type (that is one of the first things you need to make sure in any project. IP/copyright holders, license and possible distribution licenses)
Yep, we understanding that the lack of details is frustrating and rightly so. I guess we would just ask that the community look back at all the contributions Go Immutable has made over the last year (scroll-up and see dropdowns at the top of this thread), the countless hours of grunt work and non-enviable tasks we have tackled, and simply give us the benefit of the doubt (while obviously also holding us accountable). I'd like to think we've at least earned the benefit of the doubt at this point in time.

Thanks
 
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#9
Hi Matt, I think that Niels questions are good ones and are to be respected given his undoubted deep experience of major development work on Factom.Conversely I also think that you and your team have earned the right to be trusted on an issue such as this.

I have a concern about the open or closed nature of such a development and can see why you too were originally of this stance. It would be helpful to describe what you would aim to do should this become a closed development.
 
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#10
@Matt Osborne Can you clarify what your efficiency is or should be right now as your opening post mentions reduced by 20% and not to 20%. Your current efficiency is 10%, which is not in line with your statement about typical development reductions IMO.

Also you choose for your option 2 with regards to closed source development grants. There is however a really big difference. The grant is about a product that is in development for roughly one year; it has made clear statements it would provide insight into the development (sprints) itself. People decided collectively to approve it.

IMO that is different from deciding unilaterally on something you can give zero insight about. Where people have no insight in whether it would be beneficial to the protocol, even if it would be in closed source format. No insight into what would be a success or even how long it would take. No insight into whether it will continue as grants. By a party that has no development experience themselves and when asked does not give insight in how that experience with regards to Factom is obtained. You were talking about precedents in the grant thread. I think that applies here as well tbh.

And to make clear again. I really like you guys seemed to have pulled a nice project off. But right now it is taken away from grants where people can collectively decide to award it or not. So to me this needs a little more clarity, without giving everything away of course.
 
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#11
@Matt Osborne Can you clarify what your efficiency is or should be right now as your opening post mentions reduced by 20% and not to 20%. Your current efficiency is 10%, which is not in line with your statement about typical development reductions IMO.
We were at 30% (please see our contributions thread as to why), we dropped to 10%. So, that's where the dropped by 20% came from. I now realize this could be interpreted in different ways. The reason I said dropped by 20% is because the 20% amount is along the lines of what other ANOs dropped (although several ANOs have dropped as much as 40%).

I understand the community's frustration on this. I'd like to think the community can reach a point though where, after an ANO has completely busted their ass for this protocol, done a ton of the grunt work, tried its best to protect the protocol, Guides, and every ANO in it from a legal standpoint, that the ANO could be given a reasonable benefit of the doubt. That's the type of behavior we want to incentivize :)
 
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#12
So BIF could be at 0% all the time, but we believe in the grants, hence we don't do that.

The problem here is that you cannot say anything. Not about how long, not about what' s next, not about where the money is going to. Completely 0 transparency. What are you going to tell if the project fails for instance? Or if it will overrun by a year? We have nothing to base support on, except for a well known name apparently. Something like where the FCT are going since you do not develop yourself, or an estimate about how long would buy way more support than literally zero. I find that odd for the guy not shying away for asking the hard questions to others.
 
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#13
What are you going to tell if the project fails for instance?
Hypothetically speaking, we'll say "the project failed." We're fully aware of the potentially huge ramifications this would have on Go Immutable's standing. We would not have done this if we were not extremely confident though.

Something like where the FCT are going
All FCT obtained from the efficiency drop will be going towards development. We were planning this dev project/efficiency reduction prior to the FCT price drop also. Happy to have a third party verify this.

With all that being said, as stated multiple times, we understand people's frustrations. I think we have hit the point where we are going around in circles now though. We'll provide clarity as soon as we possibly can. We literally can't right now. It's out of our control.

Go Immutable would like to think that we've earned the benefit of the doubt after the thousands of hours of work we've given the community over the past year+. We've performed an unconscionable amount of integral grunt work and have not personally taken any profits out of Go Immutable LLC other than to cover personal taxes. We'd also like to think that the community recognizes the value of Go Immutable's connections to literally some of the largest corporations in the world (considering the current state of the protocol, we are in dire need of these types of relationships :)).

We recognize that the lack of details may hurt Go Immutable's standing. We fully understand, respect, and accept that. Thank you to everyone for your patience, we appreciate it.