Terra Builders Fund Proposal

This proposal builds up a dedicated fund for projects who were building on Terra pre-collapse (whether pre or post product). As has been discussed at length both on our forum as well as in other community channels, we as Secret value all builders, and want to assist those affected that are interested in making their move to Secret - in full or in part.

This fund would enable us to achieve this mission.

Technical details

The fund would accumulate funds by taking in 6% of the block-rewards for the next 12 months. Any excess funds will be burned at the end of the 12 months period, to ensure this proposal is deflationary. A rough estimate puts the fund’s total value at ~1.95M SCRT (217M*15%*6%), giving us a good amount to invest in strong projects and strong teams.

From an implementation perspective, this proposal piggybacks on the Foundation Tax module, and does two things:

1. Raise the Foundation Tax parameter back to 10%.
2. Replace the Foundation Tax payout address to a splitter contract deployed at secret19prkwdj0yue044rrleszga3e4t5x2fypzrcg82. The contract then splits the funds into two: 40% (i.e., 4%) goes to the same Secret Foundation address and 60% (i.e., 6%) goes to a wallet dedicated for the fund, which can be found at this address: secret1qqqxfz8qratc9fnkema0thwamshr3hn89ldzed.

More details and the discussion around this proposal can be found here.