2021 Second Token Distribution
There will be a second token distribution once dreams which have not received their minimum required funding have dropped out. This money will then be redistributed to the dreams which do go forward. The current deadline for when to decide whether you are going forward with your dream is Tuesday 13th July 2020. In principal, we could redistribute the tokens to the remaining dreams that day.
However, KiezBurn still does not have a permit, and will not get a permit till at least the 20th of July. Previously, we were committing to only funding the minimum budget until such time as the permit was granted by the Amt. Now, we are no longer doing this as it was felt that dreamers needed to know their budgets sooner than the 20th.
It is unknown how many dreamers will drop out, and as such, no dreamer should depend on getting more money from us when making the decision whether to bring the dream forward or not.
Should we do the second distribution immediately, or should we wait till we have the pass from the Amt?
Daniel Klein Tue 6 Jul 2021 1:06AM
Immediately. We are a month from the event. Installations take time to build and it's already late. Burns are always a risk. It's time to do it.
Vlad Tue 6 Jul 2021 7:05AM
Knowing budget does not mean spending it, but at least making a plan how to account for missing parts. Especially very important for big dreams.
Did the first budget reallocation happened already, can we see the results of it somewhere?
Alex Kaos Tue 6 Jul 2021 10:22AM
As finance lead, I am in favour of delaying as many expenditures as is possible until we have more certainty.
We normally don't have a permit until a few weeks before the event, the difference is that the Gesundheitsamt are involved in our prices this year because of a pandemic, so I would err on the side of caution.
If the second redistribution is simply offering dreamers more money, then I think they can wait until last minute for their late purchases. For the time being they have done guaranteed budget to move forward with their dreams.
Diarmaid Tue 13 Jul 2021 8:16AM
So another reason to delay is because we currently have 8 different dreams who have not responded. 6 of these are a third of their minimum funding or less, but 2 of them are fully funded, and it seems likely that they are not aware that they have to respond before the deadline.
If we give out the second round of distributions immediately, it removes any lee way that we have on allowing dreams which are late to get their money. If we delay, then we do have some (not a lot, either way) lee way to allow dreams to go ahead even if they miss the deadline.
There is currently 1090 euro from dreams that have either cancelled, or have not responded (at the time of writing, that is 270€ from dreams which are cancelled, and 820€ from dreams which have not yet responded), Ease of Air got the maximum number of votes overall, and if no more dreamers respond, then they would get 20-80€ (formula is current-funding*left-over-budget/original-budget = 693*1046/9000 = 80.542). A dream which received funding of 100€ would get a bonus of 11 euro in the second funding round. (Another way to view it is that we currently have 1/9 of the budget returned, which means that you would get another 1/9th of your current budget)
Overall, I would like to delay the second funding round until we have the permit. To be discussed on Wednesday
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Melinda Gonzalez Fri 16 Jul 2021 12:05PM
There only a little bit of extra budget left over after a few dreams dropped out. We will update the dreams platform soon... but for Dreamers to find out your additional funding now, you can do the math yourself. Just increase your current funding by about 4%. (E.g. if you were funded for 25€ you would get 1 euro more). Of course, dreams that already got their maximum funding will not be funded more.
Diarmaid Mon 19 Jul 2021 12:37PM
Second distribution results:
https://github.com/Diemo-zz/KiezBurnTokenRedistribution/blob/master/SecondResults.md
Difference in funding:
https://github.com/Diemo-zz/KiezBurnTokenRedistribution/blob/master/difference.txt
Melinda Gonzalez · Mon 5 Jul 2021 11:05PM
It's safer to hold back. Also the impression I got from @Professor Kaos was that until a permit was issued it's preferable to spend less where possible... but on the other hand, many Dreamers may want to buy everything they need/want early on, and many only have a few items on their budget so are unlikely to spend more so late in the process.