Funded Oracle Master Initial Grant

Paul Bernier

LUCIAP
Core Committee
Core Developer
  1. As I understand it this grant has monthly payments and no end. Is it perpetually granted to Factom Inc? How can one "end" this grant or take over?
  2. Will you open source the software monitoring the token price so that we can audit the algorithm that will dictate the exchange rate?
 

PaulSnow

Factom Inc.
Core Committee
Core Developer
  1. As I understand it this grant has monthly payments and no end. Is it perpetually granted to Factom Inc? How can one "end" this grant or take over?
  2. Will you open source the software monitoring the token price so that we can audit the algorithm that will dictate the exchange rate?
Sorry, should be realigned every 3 months, and run for a 6 month duration.
 

Julian Fletcher-Taylor

DBGrow
Exchange Working Group
Legal Working Group
1. Could you explain your use of "realigned" above?

2. "2. Will you open source the software monitoring the token price so that we can audit the algorithm that will dictate the exchange rate?" unanswered above.

3. Where would be the best place to learn more about the process of setting the FCT-EC rate? You say multiple engineers need to be on call to deal with this, I just want to learn more about what is actually required and done here.

Thanks!
 

PaulSnow

Factom Inc.
Core Committee
Core Developer
1. Realigned means revisiting the grant payment and scaling up or down to reflect the market and the needs.
2. I see no reason not to open source the monitoring software. I'd expect it to be more configuration work than software work though.
3. I see an alert system to allow engineers to adjust the rate on a big spike within 8 hours per governance. Otherwise, it is just a scheduled activity.
 
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