Kusama issue #1: Treasury burn, Kappa Sigma Mu and the richest collective you've never heard of

[rich]

@laurogripa

Hmmm, doesn’t seem like you get it. It’s not even possible to join the society on a whim, you have to go through a timed bidding process before tattooing. It can’t happen the way you described.

I was exaggerating for comedic effect.

@laurogripa

If you want to discuss this seriously, you should show some respect, tattoos are an ancient form of art going back thousand and thousand of years. I don’t care if someone gets a tramp stamp on a drunken haze and regrets it later, that doesn’t mean all tattoos are thoughtless decisions. There are people who actually care about their symbolism, meaning or aesthetics and use them to express themselves.

I know this, I have tattoos, they mean something to me, even if they are both shit. I was again exaggerating for comedic effect.

Governance is very very boring for most people. A large number of people are not aware of KappaSigmaMu, or of the treasury burn model, therefore in the spirit of satire and in the public interest, I felt it was/is my public duty to poke some holes in all the serious stuff.

I’m sorry if you were personally offended, it was not my intention.

I had intended to offend the entire collective - since this entity has no legal fiction or representation to be offended, which allows me a nice segue into your following point.

@laurogripa

We did discuss in the past the possibility of becoming a sort of DAO and managing the funds with proposals and members voting, but we received a no-go from Parity/W3F regarding concerns with regulations. In order to be clear of any regulatory implications, it would basically require every member to be KYC’ed before letting them vote, which would be a pretty annoying and contradictory thing to do on a privacy-preserving pseudo-anonymous society.

This is even greater reason for burning or repatriating funds - the collective is legally incapable of spending funds since it is, like other structures in the ecosystem an unincorporated association per Legal status of Kusama / Polkadot DAOs.

@laurogripa

That being said, I’m not against burning or transferring out these tokens. We need less than 1% of that to keep the game going. I just think the society is getting a lot of unfair and inaccurate criticism.

The society is an organisation that is receiving communal funds, operating with something approaching impunity, outside of the existing governance, circumventing processes that others must walk across burning coals through.

The continuing treasury spend is at the benevolence of the public as a whole, there is no divine reason for KappaSigmaMu to continue to receive this spend unquestioned.

If you want responsibility, expect critique and be comfortable in the fact that it is the game, the system, the entity that is being questioned, not the individuals.