Who is stealing ICP community funds?

How does Kong Swap get 100K ICP in a day then next to nothing afterwards…

This is such a good way to get a casual 100K out of the community fund, I’m looking for 9 other people to chuck in 10K $ICP with me, I’ve got enough apps to easily do another SNS and we can grab some free $ICP!

There is no restriction on tokenomics, just gotta follow any of the other DAO’s dfinity didn’t vote down, no restrictions on code requirements, a single file and an idea is enough as dfinity didn’t vote that down either.

Easiest money ever. But let’s be serious.

The community fund must be replaced, maybe with a staggered payment process in the prebuild phase, with milestones etc

Like money for hard work would be nice.

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The largest amount like 90k icp or something was from a few accounts.
Also shows the appetite for another dex is not there.
Funding should be like real world business, given/released in tranches to support each step. Whether this could be a lock phase in the nns / white paper I’m not sure.

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Quite agree that it looks shady asf !

I fully agree; the entire functionality needs to be redesigned or eliminated.

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The Community Fund is basically 5 accounts, which together have contributed 97% of the total funds across all SNS projects. Even more concerning, the top 2 accounts alone make about 55% of all contributions. This concentration goes against the idea of decentralisation in the SNS and doesn’t reflect well on DFINITY, especially if some (or all) of these top 5 accounts are DFINITY wallets. To address this, the SNS concept may need to be redesigned to better support decentralisation.

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This fud is completely nonsensical. There was theft. Participating in the SNS is voluntary. Anyone who has funds in the NF can decide whether to participate or not. Beadle needs to stop creating beef with projects in the community. He should instead focus on delivering a working product. Even in a barebone form Kongswap works and its alredy the fastest swap on the IC witn the best UX. Please stop the toxicity, James.

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Yes I heard that’s why they changed the name of the Community Fund to Neuron Fund. But I wouldn’t outright call it stealing as the whales knew what they agreed to.

If your minimum goal for raising ICP is achieved, the SNS interface will automatically add more contributions from neuron fund to the DAO treasury.

But it wouldn’t be impossible to Steal or Drain neuron fund. Current ICP design allows you to do so easily as long as you have a working dapp and enough marketing or ICP tokens.

But as far as I remember, Neuron Fund had some unique purpose related to “decentralization.”

I don’t begrudge anyone funding just play fair. The neuron fund should be proportional to investment, not a tool to extract ICP from future projects.

I will continue to point out anything I feel can be improved, don’t you worry.

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