The 0% Secret Foundation Tax Proposal

The combined community in conjunction with SCRT Labs (and in approval of the Secret Foundation) propose to reduce the Secret Foundation Tax to 0%. The employees of the Secret Foundation are still paid by the existing resources of the Secret Foundation. Since this is an extraordinary situation for all of us, we decided to expedite the voting process and waive the seven day waiting period as set forth by the Secret Code of Conduct.

The community and SCRT Labs proposes to temporarily secure the funding of the Secret Agency in the meantime, which is currently financed by the Secret Foundation. For this we propose to temporarily use the Foundation Tax module to set a 4% temporary tax to pay the Secret Agency until a sustainable solution for its funding is found. The 4% tax will be paid out to a multi-signature wallet (a 3 out of 4 threshold multi-sig wallet with address: secret1hf8vtc4w0f9nwgrwvqlmtc9fek7tkuc8twz2af) held by the core Secret Agency DAO members Brendan Kittredge (secret1k8g46g5s6hd8tuv30xcxg4n7kzjwjy7fmphktq), SecretSkrillah (secret1d829vvchhyxqegufyplcwddc2ndt4t28hw3jqt), Ertemann (secret13tafewexrzqnmq3dhz4j4zl4vt7nf3xcvkysut) and Sean (secret1m0ja4qxs03cgv5cd0zk7pj7pyepwg75yrwr9e4).

The Secret Agency DAO (a Marshall Islands NON-PROFIT LLC) will receive these funds until the TEMPORARY transition period of THREE months is over. After that, the TEMPORARY funding has to be reassessed by another governance vote. The community will decide what will happen to any remaining funds after the three months are over.

SCRT Labs deployed a new splitter contract at secret1mq2h80q7rd9jlg5mj23ckl3zn4axrw3aagcfr8 (split between 6% tax for Terra Builders Fund and 4% TEMPORARY tax for Secret Agency), to which we will propose the change the on-chain “secretfoundationaddress” parameter.

Voting YES on this proposal means you support the Secret Foundation tax going to 0% and a 4% TEMPORARY tax for the Secret Agency DAO.

Voting NO on this proposal means you do NOT support the Secret Foundation tax going to 0% and a 4% TEMPORARY tax for the Secret Agency DAO.

Places this has been discussed.

1. https://forum.scrt.network/t/the-0-secret-foundation-tax-proposal/6783
2. https://forum.scrt.network/t/governance-meeting-notes-mega-thread/3946/88
3. https://forum.scrt.network/t/community-proposal-to-lower-secret-foundation-tax-to-0/6768
4. https://forum.scrt.network/t/proposal-to-adjust-secret-foundation-tax-to-0/6764
5. https://forum.scrt.network/t/an-update-and-disclosure-concerning-secret-foundations-financial-transparency/6762
6. https://t.me/secretgovernance