Proposal #17
Passed on 28 Nov 2022 with 89.4% of the votes for yes.
Yes
89.4%
100.0% without abstain
Veto
0.0%
of votes cast
Ended
28 Nov 2022
89.39%
of votes cast
10.61%
of votes cast
0.00%
of votes cast
0.00%
of votes cast
The team claims in the following statement responding to the recent controversy on Twitter about the Sentinel Foundation treasury wallet, that the “Tokens lock-up schedules are clearly listed“ and that “there is clear transparency“ when it comes to tracking those token unlocks.
“In early 2021, the Sentinel network made a transition from an ERC20 token to its own Cosmos hub and there was a tokenomics update made to ensure sustenance of community development and all of its other stakeholders. If we see most networks today whether on Cosmos or on other networks have a distribution of over 40-50% at the minimum ranging upwards to 70% of tokens being allocated for community and development organizations/marketing. Tokens lock-up schedules are clearly listed, and there is transparency in these processes of the movement of tokens. Generally, in most networks these token amounts are split up into several wallets and not all networks indicate or label all of the wallets. In Sentinel there is clear transparency, as the unlocks and the wallet balance can be traced back to one wallet that is visible on-chain to the community.“
Further ProjectAutonomy suggested that community members with questions about tokenomics, and the reasoning behind them, consult [Hidden link]
When looking into this article all we are presented with is [Hidden link]. So the “clearly listed“ lock-up schedules are [Hidden link]. It is anything but “clearly listed“ and needs further, more detailed formulation.
The wish for exactly that was made for example [Hidden link], in direct DM with admins nearly 3 months ago without success or a more [Hidden link] also without success.
With the most recent reference to the not so clear article and the repeated ignoring for a more detailed release schedule we can assume that the team has no interested in publishing one and wants to leave us in the dark.
Onwards to the mentioned “transparency in these processes of the movement of tokens.“
This is the Sentinel Foundation wallet and these are the wallets that received Dvpn from the Foundation wallet:
Directly received funds: sent1u9szkhxh6ezhd7vp0prcfjx7vsyn3jup75xtf2 sent1skt2ja3m7w2d7nldvq6fsdlj3hgzkk0uhk6t0h
All staking reward addresses: sent1jyae2x9vdf9d6cs3qx0qatrqxfvkunjm6jglv0 started selling recently sent1djhzx3xzqct47dyfpkh4r8etvvvd0nvtsfse8p sent1dlvexscz0gttgmgqxpx7edlh86nm692sc699yu proposal deposit funds, outgoing to random address/ validator address sent1lh59pphtxe4ch7jslpmv9ps354jdm7u2f87x44 sent1whe0gv3qtc07fm2wvun7mk2f9fy08pmasehpk6 outgoing, partly sold, send to validator address sent107um8pcshwgnm6ramfl376n9p7pcxmxqjeesk8 partly send to osmosis pools sent1csyt9f96dlqvyjtyze9z4fmp5vru6hftl92asl alot send to Ascendex after just being listed, Osmos and random wallets sent1hmcnmtecmem3z9r3ssk2w6zsgth3dfdu8u6258 270mil to send out sent1ehuvq87lfn7cqwv5cet2lx6jp5q0symgk0xq8s sent1hmpx067hnuzhf8rjsdmtcgf92h4f099sme9czz same as above also send to Ascendex/Mexc sent13f7jk6dqz7hsthhvxy0jhfyhv4zjfef7svc4lp holds a lot, parts sold, part send for node incentives
Just as mentioned in text the Sentinel network does not differ from the many other networks since the funds are just the same “split up into several wallets and not all networks indicate or label all of the wallets.“
For some wallets you can assume their purpose after digging very deep and going through a lot of transactions and wallets. But just because you can track funds back to one wallet you can't call it transparency. There is no way to know who has control of the above funds and the wallets/ the wallets funds were forwarded to. There is no way to know why certain wallets got payed by foundation controlled wallets. There is no way to know what the funds were/ are going to be used for. And there is also no way to know when they unlock.
To make it clearer when and how many tokens are unlocked we want to see a more detailed release schedule. For real transparency we want to know where the funds meant for advisors, validator incentives, node host incentives, ecosystem partners, marketing, treasury, team and offerings end up/are located at this time. To give the team sufficient time, those information shall be released 30 days after this proposal has passed.
Vote YES if you agree that the team shall release above information Vote NO if you don't want the team to release above information Vote ABSTAIN if you forfeit your vote Vote NO WITH VETO if you see this proposal as spam/harmful
Commonwealth Thread [Hidden link]