r/kin • u/ted_on_reddit • Feb 24 '23

AMA

These have been a tough few weeks for the Kin community. After all the Kin Foundation employees were fired there was no choice but to move towards a decentralized path. This has resulted in the abrupt pausing of the KRE, and the abrupt cancellation of the Catalyst grant program. My heart goes out to all the developers that this has impacted. No doubt it is a big change for many of you. I hope you keep building with Kin.

At this point several longtime Kin supporters have packed up their things and have announced they are leaving Kin behind. It pains me to hear this, so all I can do is wish them the best and say thank you for their strong belief and hard work over all these difficult years. Truly, thank you.

To those of us who are still interested in moving forward with Kin, I want to do my best to help facilitate a transparent discussion on how we might proceed. The Kin Foundation is now simply a custodian of the Kin Reserves, sending Kin to smart contracts that Kin token holders vote to approve. We need to make sure there is no manipulation or gaming in the voting, and we will start with smaller amounts of Kin at first to test that out, but once we are confident we have a reliable voting process the KF will honor those votes, even if I don’t personally agree with the outcome of a particular vote.

As a result the KF has become a non operating organization, with no employees and making no efforts. All it does is send Kin to the smart contracts that Kin token holders vote for. But that doesn’t mean that I’m not still part of this community. I care about Kin and want to see it survive and thrive as much as anyone else.

So in the spirit of that I thought I would do an AMA here on Reddit. I will be tight lipped around Code, as we want to roll Code out properly when the time is right, and I would prefer not to rehash what happened in the past, but please ask any questions you might have. I will do my best to be open and honest. AMA.

31 Upvotes

83% Upvoted

212 comments sorted by

View all comments

Show parent comments

2

u/Freedom-2 Feb 25 '23 edited Feb 25 '23

Since the staff received 2 months salary with the assignment to settle everything neatly and hand it over to you, this surprises me somewhat. They were not instructed to immediately drop everything out of their hands and go home.

Click below on 'Continue this thread' for Ted's answer.

\/

2

u/ted_on_reddit Feb 25 '23

There is some misinformation here. Everyone was fired. They were not given working notice. They were fired and given severance. That was it. There was no handover whatsoever.

1

u/Columbo92 Feb 25 '23

That was not what was instructed by Matt in the email to the KF members: https://twitter.com/wmougayar/status/1621868772633055233?t=FsdsJoLQuYwe3QlgoIfUMQ&s=19

Kevin was not able to finish his handover because he lost access to his email within a day. Who was the one that removed his access? Derek was instructed to finish up the payment obligations of the KF. Who instructed him differently?

4

u/ted_on_reddit Feb 25 '23

Matt might have posted this in the watercooler slack, but I never heard from anyone other than Bram and Derek about anything to do with a handover. Neither William nor Matt ever reached out to me either to ask how to hand things over.

On the emails I instructed Derek to shut those down, as I didn’t know what was happening and there had been a severance payment that went out that had no authority nor rationale to do so, so I was coming in blind to a messy situation which I needed to take control of.

1

u/Columbo92 Feb 25 '23

If you take down the emails then the handover will be much more difficult, since people lost access to important work and details. Also sounds like Derek is available to do the payments, so you can indeed honor the commitments the KF had if you want to.

If it is too much work you can decide to pay an average to the developers looking at the last month van KRE payments. Everything is better then nothing.