Funded [Niels Klomp-1] Factom Interim Director remuneration

[Niels Klomp]

Executive Summary
Factom Interim Director remuneration

Team Member or Entity Forum Username
User: Niels Klomp
FCT address: FA2dPXvGZUkW6JJMwFTZhrSoRqemPhmLJQahQ79XrxYRmvsoPLLU
FCT: 8000

Total FCT Requested
8000

Start Date
2021-03-07

Completion Date
2021-11-21

Project Description
Factom Interim Director remuneration. This is the grant for the work I have done as Factom Interim Director for 8,5 months.

The 3 big outcomes /deliverables:

• Analysis of Factom 1.0, strategy and vision
• Factom 2.0 proposal
• Move to Accumulate to get the best of the goals and objectives mentioned in this grant.

Problem Statement
Remuneration for the Factom Interim Director position for the period of March 7th 2021 till November 21st 2021. See goals and objectives below.

Goals and Objectives
Maximize chances of success for the protocol:

• Ensure financials are in order for good times, but more importantly so survive bad times, as we know eventual bear cycles will follow again
• Ensure the work done by a diverse set of actors is as aligned as possible
• Ensure the protocol has a clear road ahead. Meaning the vision and strategy is hashed out with plans in place to act on those. You should always be able to (and actually do) ask yourself the question on decisions whether it fits strategy
• Ensure the protocol will be handed over to new leadership in more calm waters. It makes sense that we will prepare for a non-profit to take its place in the protocol, obviously with the standing parties having control over that entity
• Ensure the protocol becomes interesting again to invest in. By token holders but just as importantly by individual developers/integrators/companies using the protocol

Success Criteria
See goals and objectives. After presenting the problem definition, as well as the proposal for Factom 2.0, and seeking investors, I started discussions with the people behind Accumulate.

The unanimous vote in favor of rebranding and forking into Accumulate is the ultimate best outcome for all involved, aligning with the above.
The potential investors initially for Factom 2.0 have been brought into contact with Inveniam/Defidevs. Although I cannot disclose anything about the outcome given its nature, there still are ongoing discussions and the outcome seems positive on multiple angles.

Timelines and Milestones
Analysis and proposed technical direction: https://forum.factomprotocol.org/th...cal-direction-and-analysis-presentation.5760/

Rebrand and fork proposal: https://forum.factomprotocol.org/attachments/factom-upgrade-proposal-community-110521-pdf.2892/

Vote to rebrand and fork: https://forum.factomprotocol.org/threads/factom-to-upgrade-and-change-into-accumulate-network.5795/

Budget
I am using the historical relatively high price last 2 years of $2.07, which is the price at the start of the period. Obviously I am not asking for 8,5 months against the mentioned monthly rates.

In total the remuneration I ask for is 8000 FCT, which at todays price is roughly 7500 dollars. I believe this to be a very fair price for the work I have done

Assumed Price Per FCT
$0

Competition
NA

Additional Information
N/A

 

[Chappie]

The Forum Q/A process has now started. The community may ask questions until Feb 12, 2022 at 00:59 UTC.

Other important dates:

• After the question period ends on Feb 12, 2022 at 00:59 UTC, you may continue to answer last minute questions until Feb 13, 2022 at 00:59 UTC
• Once the answer period ends, voting will start one minute later on Feb 13, 2022 at 01:00 UTC
• Voting will be closed on Feb 16, 2022 at 00:59 UTC and the final results will immediately become available.

 

[Nate Miller]

Thanks for all your hard work Niels, we'll see you on the other side!

 

[PaulSnow]

Niels has done a great job. DeFi Devs (formally Factom Inc.) certainly supports this grant.

 

[Nolan Bauer]

Thank you Niels for stepping up. We support this grant.

 

[Mike Buckingham]

Outstanding work under difficult circumstances - thank you.

 

[Chappie]

This is a final warning that the community has just 24 hours from now to ask any last minute questions.

Other important dates:

• After the question period ends on Feb 12, 2022 at 00:59 UTC, you may continue to answer last minute questions until Feb 13, 2022 at 00:59 UTC
• Once the answer period ends, voting will start one minute later on Feb 13, 2022 at 01:00 UTC
• Voting will be closed on Feb 16, 2022 at 00:59 UTC and the results will immediately become available.

 

[Chappie]

The Forum Question Period has now ended. Teams will have until Feb 13, 2022 at 00:59 UTC to answer any last-minute questions.

Other important dates:

• Once the answer period ends, voting will start one minute later on Feb 13, 2022 at 01:00 UTC
• Voting will be closed on Feb 16, 2022 at 00:59 UTC and the results will immediately become available.

 

[Chappie]

The Answer Period has now ended and Standing Parties may now vote.

Voting will be closed on Feb 16, 2022 at 00:59 UTC and the final results will immediately become available.

Instructions for Standing Parties:

• You may vote in any thread or on this page. The ranks are mirrored once you save.
• Drag and drop using the three-lined icon at the left of the grant proposal and hit "Save" when done.
• If you change rankings and leave the page without saving, those changes will be reversed and not count.
• You may change your vote as many times as you like prior to the vote being closed.
• If you "Abstain" that means your vote won't be counted no matter what you ranked that proposal.
• If you deselect "Approve" how you rank the grant matters, but 60% of voters must approve the grant for it to be funded.

 

[Chappie]

Thank you for your grant proposal, Niels Klomp. The Voting Period has now ended.

The final results for this grant round and the vote audit log may be viewed here: Grant Round: Grant Round 2022-01.