2021 Budget Redistribution (Passed)
This is the discussion. To vote in the poll click here: https://talk.kiezburn.org/p/8WAKewP3/budget-redistribution-for-dreams
When the voting on Dreams ends, there will be money left over in the budget that has to be redistributed to dreams. This money will exist both because the LNT grant was not applied, and not every ticket holder will spend their tokens.
The current proposal for redistribution is as follows:
All dreams which have reached their minimum budget are funded, and all stretch goals which have been voted for are funded
Dreams are ranked on the percentage of their minimum budget that the community has voted on.
All remaining budget is put into a big pot, and the first dream (i.e. the highest percentage that the community voted on) is funded up to the minimum budget.
The remaining money is then applied to the next dream, and this step is repeated till we run out of money
It was brought up that this was unfair to some dreamers. Some dreamers might not know that they can change their minimum budget, or might not know that by doing so they could get funded. So a secondary proposal was made:
Ignore minimum budgets completely
Once voting ends, we take the money that has been distributed and treat it as tokens
We revalue these so that we have spent the entire budget. We cap dreams at their maximum budget, with the unused tokens being reallocated in the pool.
We then tell each dream what their budget recieved is. We ask them if they want to continue with the dream, knowing that they will only get this much funding.
A HARD deadline is set on this, and dreamers who do not respond do not get funded. Length of the deadline to be determined.
Once we know which dreams agree to go ahead, we take the tokens from the dreams which have been cancelled, and we distribute these to the dreams which have not been cancelled. Each dream would then receive some extra amount of funding.
PROPOSAL: That we change the budget redistribution from the previous model to the new model.
Note: A dream is only eligible for its minimum budget until we get the actual permit, which looks like it might not happen till the 20th of July. If we do switch, how will this be handled? This restriction no longer applies
Melinda Gonzalez Wed 30 Jun 2021 11:20AM
Thank you for reporting this issue!
Diarmaid Wed 30 Jun 2021 11:09AM
Fixed. Thank you for bringing it to my attention.
CJ Yetman Wed 30 Jun 2021 11:06AM
@Diarmaid
lizzyp Wed 30 Jun 2021 11:03AM
Hey guys! Unfortunatelly it is not possible anymore to give away TOKENS for the dreams....it was working until 12AM but not anymore, although it stands, that it will be possible until MIDNIGHT. Who is in charge for the site? Possible to change it until midnight or is it over now?
Greetings :o) Lizzy
Diarmaid Wed 30 Jun 2021 9:40AM
From Finance:
"The permit won't come through into the 22nd July at the earliest. Dreamers can't wait that long.
We need to confirm them on the 4th, and lock it in."
This increases the risk to Kiez Burn if the event ends up being cancelled. But waiting till we get a permit will half the time that dreamers have to make their dreams while knowing their full budget.
We are committed if at all possible to funding everything that we have said that we will fund.
Item removed
Diarmaid Wed 30 Jun 2021 9:35AM
Done
Purzel Wed 30 Jun 2021 9:33AM
Thank you for this further explanation, I didn't fully get the one, attached to the proposal. Maybe you could include it in the vote description?
Diarmaid Wed 30 Jun 2021 9:26AM
Current Rules: Modifying your budget to decrease the minimum to the amount you have recieved would mean that you would get the amount people voted to give you, but no more. Increasing it would mean that you would either get more (in the case you get funded), or you would get nothing (in the case that you were not funded).
New Rules: Modifying your budget has no effect. You would get told the amount that you would get, then you can decide whether to go ahead with the dream. If you decide to go ahead with the dream, you get the amount you were told. If other dreams drop out, then you would also get a percentage of their budget. You will in general get the option to have more money than people voted to give you, but you are not going to get your minimum budget if people did not vote to give it to you.
E.G. You are 50% minimum funded, and for simplicity, you have a minimum budget of 100 Euro and a maximum of 200 Euro. So you have recieved 50 Euro in votes.
Old rules: If we have the budget, we would fully fund you. You would get 100 Euro (your minimum budget). If we do not have the budget (i.e. there are dreams which have a higher % funded) then you would get nothing.
New Rules:
We would recalculate the token value, and calculate the budget that you got. If 60% of people vote, each vote become worth 1.8 votes, then your recalculated budget is now 83 Eur. We would ask you if it is possible to do the dream with 83 Euro. If you say yes, you are guarenteed that 83 euro, with the possibility of getting some more money if other dreams drop out. But as your minimum budget was 100, it could be that you can't do the dream because you need that extra money. If that is the case, the dream is cancelled and the money is redistributed amoung all uncancelled dreams which have decided to go ahead.
Old Rules: More dreamers would get their minimum budget, but more dreamers would get nothing.
New Rules: All dreamers get the chance for something, but bigger projects which get a lot of votes (but not enough for minimum funding) will not get topped up to the minimum.
Vlnolam · Thu 1 Jul 2021 9:42AM
I live in a timezone which has 12h delay from Berlin. Can I give tokens even if I was verpeilt until now? (Actually, I was working too much)