During a bear market, funding becomes a very serious issue that affects many projects. As it currently stands, Bulwark has been using governance to directly fund projects/developments. We don’t believe this system can persist in the current market atmosphere and have elected to change the way we think about utilizing governance.
Another very important reason for this proposal is that not everybody can be trusted to put forward proposals, accept the rewards from that proposal, and then actually do their job. As many of you are aware, Kaneo, who took over marketing from Jack upon his exit from the project, had his own proposal available to self fund his position in marketing for Bulwark. The biggest issue with this wasn’t necessarily that he wanted to put forth his own proposal, as it is in the spirit of governance. The issue was that his marketing proposal took almost a third of the entire governance funding every month, which some community members disagreed with. While we do not profess to know the entire story, we surmise that this occurred as a result of a short argument that occurred between Kaneo and a couple community members in which they did not believe he was providing marketing services at a level that deserved a third of the governance funding on a monthly basis in addition to the way in which he was selling them on the market. This, in turn, lead to the majority of the “yes” votes on his proposal turning into “no” votes over the following 24 hours, which is precisely how governance is supposed to function if the community disagrees with the way funding is being utilized. Instead of handing back any amount of the funding he has received along with the social media accounts he controlled, he elected to delete as many social media accounts as he was able to, block the majority of the team so no communication could take place, and disappear.
Since this unfortunate incident occurred, we’ve since created a new Twitter account, https://twitter.com/bulwarkcrypto and now have considerably more enthusiastic community members looking forward to building it back up while taking the steps to secure the account should a malicious actor find their way into a marketing role again in the future. Our proposal is to do away with individual proposals altogether and instead allocate a portion of governance funding towards the purpose of immediately setting up funding masternodes, which will generate more coin than their initial proposal counterparts over time. Not only will this allow us to achieve higher levels of funding moving forward, it will also allow us to more properly allocate and track funding with this process while minimizing any potential negative effects and downward pressure mass OTC sales can cause. In addition, this will also allow us to allocate funds to small projects the community would like to see progress, which we have an idea of how to operate in a way that the community will enjoy and support.
The way we intend on tracking this is by creating a read-only Google Sheet that any Bulwark community member can view at their leisure. This spreadsheet will track current and future masternodes that are being set up along with their addresses and a running accounting of what the coins are being spent on and when.
The link for masternode tracking and accounting will remain at the following link. If this changes for any reason, we will place the new spreadsheet link here accordingly.
There are many community members that love this project and want to see it remain strong and prosper as we head into a very exciting future in crypto. Not everybody is an expert coder, premier graphic artist, or has a special talent in terms of marketing. To allow these people to contribute to the project, we have also elected to open up two donation addresses from which any community members are welcome to donate however much they would like to in an effort to provide Bulwark with better development funding.
They are as follows:
We thank you for your support over the last 1.5 years and look forward to building this project back up with all of you.