Leo Foundation? Part 2

Decentralization is always the goal, but it is a slow process and some Lions think it is too early to do something like this.

I'm not backing decentralization at this point, I understand the centralized nature of Leo Finance is what makes it so powerful and that's the main reason updates and rollouts happen so fast. @khal has done a terrific job delivering over the past 3 years, I don't want the development of the ecosystem to get decentralized, that would be an obstacle to how the LFE is working right now.

After reading some of the comments, I'm beginning to think I should have been more specific on my ideas in practice, I think I stuck too hard to the theory without going further into how this Lion Foundation idea would be in reality.

I got a lot of feedback yesterday, thanks so much for the ideas, counter arguments and thoughts about this concept. I wanted to reply one by one but I feel like this post can cover everything, go more in-depth and put every dot on every i addressed in the comment section of that post.

First of all, the point of any sort of foundation, committee, council or whatever, is not to decentralize the development of the LFE, but to allow the community to get involved in the social & front side of the ecosystem in a very basic and rudimentary way, while setting the stepping stone for something bigger in the future - let's say two to three years.

The point of the post was not to encourage development by the community, but to take the bull by the horns in the areas where the LFT can't work on because of the manpower they currently have, and work side by side - the community in one side, the LFT in the other - to create synergy.

Leo Finance Team develops, the community empowers

We have a huge advantage, I mentioned it in the first part of this post: The strong leadership we have in the LFT is a large asset that steers the wheels and makes things happen big, fast and efficient way, I don't want this to change. Any decentralization in the development kills that advantage, and the size of the LFE doesn't allow any decentralization in that area, nor I want that to happen.

The theory in practice

My idea is not to kill the advantages of the leadership we have.

To start with, a Foundation or council or whatever, at a very early stage would work as follows:

It rallies the whales behind the concept of reward allocation towards posts that do tasks the council - made by whales, minnows and influential Lions - consider necessary or worthy.

It could be a stepping stone for anything in the future, just by having stake behind organized efforts such as LPUD.

LPUD is a success because the community rallied behind it, not by investing money or affecting the market cap, but by using the money already floating in the community and putting it towards encouragement and incentivizing the community to participate in things that help the ecosystem grow.

One of the main advantages I already mentioned, is that the oracle accounts @wrapped-leo, @p-leo and @b-leo voting rights would be controlled by the foundation. Add that to the whales' votes who want to work together, and the foundation would have a significant amount of LeoPower that is already being used within the ecosystem, but the foundation could allocate those votes towards Lions who fulfill tasks that help the LFE.

With only 600 Monthly users, don't you think we are at a stage where organized and coordinated efforts can set the stones for when new users come, they see organization and potential?

As I said, I should've gone into more depth as of how I see the foundation working in practice. I left the idea too general and to interpretation, which got a lot of positive and negative feedback, so perhaps if I detail it more, it can get a definitive YES or NO.

At an early stage, the foundation would work - as I see it - like this:

1. The foundation determines what is missing on the LFE to make life easier for the Lions to thrive on Leo, let's say for the sake of the conversation that they deem necessary that we as a community need "Tutorials, Documentation for every part of the ecosystem, templates for posts, how-to guides and translations for the websites"
2. The foundation comes with a list of tasks and depending on how big the task is, they define a set reward that will come in the form of votes - this allocates community resources towards things that help the ecosystem instead of randomly votes posts.
3. Long-term thinking Lions can take up any task and fulfill it. Perhaps a requirement for taking up any task is to be an X month old lion who has never powered down (ultimately, the foundation might want to allocate the task rewards towards lions who are committed and won't just add sell pressure).
4. The task get's done, it gets added to a parent website that is already being developed. This parent website with an easy UI that works like Leopedia but as a bigger and easier to use Leo Finance umbrella will host everything: tutorials, documentation, info about the community, useful apps, info about the foundation, the task list etc.

This way, the foundation's purpose doesn't affect the market cap nor needs outside funds, but instead uses vote allocation which is already in place, to empower content creators that want to contribute to the ecosystem. The whales and oracles fund the community that works towards organizing the ecosystem and providing the necessary tools for new - and old as well - users to explore the savannah of Leo Finance without any issue.

That's how I see things happening at least in the first 6 months to a year, just building the social side of Leo, having the community be the key aspect of all this.

As simple as that, I may have put the things in my previous post as more complicated or more ambitious, but my idea at the beginning was just to set the ground for this simple concept: We have inflation that gets allocated through votes, let's organize and use a percentage of those votes (not much to not forget about the content creators) to fund community members solving tasks and getting things done.

If after 6-12 months the ecosystem has docs, tutorials, templates, translations and all the basic stuff Leo lacks at the moment, this is a win, even if it was achieved through a rudimentary and very simple style by just vote allocation, then we as a community have proven we are ready for the next step. We have organized and rallied behind getting all this stuff done without a need for @khal to lead every single part of the LFE.

All of this bearing in mind that every addition from the community members gets rewards with a long term mindset, so sell pressure drops, and a more organized, serious perception from LF to potential users.

This is in the interest of heavily staked leo users, the more of a solid frontline LFE shows, the more attractive it will be for potential users.

Why would a user stay in the ecosystem if they don't speak good english or they can't even learn how to install keychain, if there isn't a website with tutorials?

The curation from the oracles is still used to reduce inflation for leo.voter delegatees, but the voting power could actually be used for improving stuff that needs improving, without khal overseeing every single step of the way, which understandably slows down things.

As Cat said in the last AMA, khal needs to stop cutting lettuce and oversee the whole kitchen. The way we can take things off his play to let him do his development magic, is to take the responsibility of doing all of these tasks that need to be done but haven't because of the manpower - believe me, the dev budget is already gigantic, the ecosystem's tech development is being done and during this bear market they are doubling down.

So it’s that, setting the ground with very basic and rudimentary foundations for a future real organization, funding simple stuff through basic vote allocation.

If that works, then we can get a foundation UI and more advanced and complicated stuff, but as it is, this would be a great first step towards having an organized mentality that rallies behind ideas that can help the ecosystem grow.

Addressing specific concerns from comment

Thanks for commenting by the way, the feedback was amazing and it allowed me to get my ducks in a row and be more specific. I'm only going to address concerns in the comment section of the previous post, just to avoid mentioning all the positive feedback that feels like just patting myself in the back.

Why not Leo Foundation? Either way, I think that this is a very good idea. This may change lives in the future. Similarly to Hive with the boreholes in Ghana. So I support this idea. I wish good luck and all the best with it.

@xplosive: The name of the foundation can be anything, the purpose is what matters.

This possible foundation is gonna work on ground outside of Leofinance or is it just related to Leofinance?

@howzat: At the beginning I think it would be wise to stay within the Leo and Hive ecosystem. The market cap doesn't allow us to go further at the moment.

Prioritize various upgrades, new features and even entire modules weighing the number of times/people who had requested it, gathered quick estimates from developers for man hours and came up with real data for the development team to use in selecting which upgrades would be the biggest bang for the buck, so to speak.

@whatsup: Exactly like this, the foundation determines what needs to be done in the social/front side of the LFE and they determine a pay for getting that task done.

Maybe LEO Power could be used to vote on proposals for funding projects, etc... Or that could be something totally separate. Or not a part of it at all. This thing could really take a lot of different forms, but I think there has to be a clear goal. The foundation members need to be trusted stakeholders. The goal needs to be focused on growth outside of the current ecosystem, not necessarily internal because the LFT is already doing that.

@l337m45732: Yes, maybe in the future, at the moment I don't see it happening because of funding and market cap, but if Leo get's to $1 and our market cap 20xes, who knows.

A for effort, but in general committees don't accomplish anything.

@nealmcspadden: I agree, is this level of detail enough for you to back this? The organization and coordination to achieve this is not that hard to accomplish, and with concrete, easy to achieve goals, using vote allocation, maybe this can work...

Most of the "pros" from such foundation are already baked in through the leogrowth account. The loyalist and whale holders that are already taking initiative will be the ones that likely would engage in this, it sort of just seems like it would be making what is already going on more "organized" in many ways.

@scaredycatguide: Yes and no, Leogrowth is limited by my time allocation, I would need to work 10x to achieve the ideas above (tutorials, templates, parent website, docs, how-to's etc) by myself. I'd love to, but budget matters :P Exactly, it's a first step towards organizing the stake towards meaningful purposes that help the ecosystem get more development in the social/front side of the LFE.

That's it, maybe it sticks, maybe people like the idea and we can move forward.

If it doesn't, then it's the community who decided, which is more than ok. I hope you take the time to leave a comment, or at least a Y/N (might do a poll later after these two posts are paid out and any potential feedback is out).

Tagging people who commented in the previous so you see the update @geekgirl, @r1s2g3, @bitcoinflood, @idiosyncratic1, @mistakili, @tokenizedsociety

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