A quick flare to send up from ICDevs.org viewpoint here…and super happy to have any fears or concerns allayed.
Obviously a “community fund” was kind of what we were going for with ICDevs. There are limits to how we can set it up and still gain the tax advantages for donors and ourselves. One huge limitation is the restriction on the organization making a profit and especially from our donors making a direct profit from donating. From what I’ve read about the initial vision of the SNS and this modified community fund button I have some concerns for the legal well-being of developers who may take advantage of this feature where there is a promise of the return of tokens or profits for their contribution.
I think we all agree that the current rules(especially in the US) around fundraising, accredited investors, blah, blah, blah are archaic and in need of serious revamping. And I’m all for some good civil disobedience from time to time. But I hope for the sake of the legally ignorant devs that may start to take advantage of this program that the DFINITY foundation will provide significant guidance or at least a set of guiding principles that a dev can use to make sure they are not illegally issuing a security or putting themselves in legal jeopardy. The same probably goes for investors that are going to add their neurons to the fund.
The fact that this button is just appearing without much explanation is a bit spooky if this program ends up on the wrong side of jurisdictional intervention. I’d imagine there are hundreds of scenarios where this can be done the right way with drastically reduced risk and if the Foundation has put resources and work into assuring that I’d encourage transparency so that everyone can understand what they are getting into.
There are some serious and significant paradigm-shifting potentialities in the IC and we should leverage them to shape the world into one that we all want to see. I’d just encourage that we balance the wild-west exuberance with a bit of rational thought, optionality increasing planning, and risk mitigation.