Questions and Answers about the Nebulas Technical Committee
On April 17th, the Nebulas Technical Committee node (https://node.nebulas.io/detail/mars) went live and it marked the official establishment of a new community based technical committee.
New guidelines for the Nebulas Technical Committee were approved by the first PoD node governance cycle on March 12th (proposal number NIP205) which opened the committee to community registration: https://nebulas.typeform.com/to/NwzQRC
The Nebulas Technical Committee is in the process of being formed with the first assignment of the committee to organize the first PoD governance vote on the mainnet which will be held at the end of April and includes testing of GoNebulas related projects as well as organizing proposals.
Some questions and answers about the Technical Committee are as follows:
Duties and background
Q: What is the relationship between the Nebulas Technical Committee, the Nebulas Foundation and the Nebula Team?
A: The Nebulas Technical Committee is funded and organized by the Nebulas Foundation. Some projects or proposals involve various products that the Nebulas Team has participated in development and/or operation of. The Nebulas Team will give its full support to them when the Nebulas Technical Committee reviews projects and proposals.
Q: What is the relationship between the Nebulas Technical Committee and the Governance Committee?
A: The Nebulas Technical Committee shall be responsible for implementation and the Governance Committee shall be responsible for decision-making. This is one of the most important aspects of Nebulas’ governance system.
The Nebulas Technical Committee reviews projects such as testing the R&D products and overseeing community operations, etc., which is the guarantee and strong support of community collaboration.
The members of the Technical Committee benefit from technical strength and practical work.
The Governance Committee decides whether projects and proposals are approved via PoD governance voting. Consensus nodes are selected as governance nodes based on it’s contribution of block generated. The Governance Committee is responsible for the Nebulas ecosystem.
Q: What are the duties of the Nebulas Technical Committee members?
A: Top 5 Responsibilities:
- Advise the development of Nebulas including technical guidance and supporting the community.
- Give recommendations to community-based proposals and facilitate their transition from constructive ideas to implementable projects.
- Review of projects submitted for testing and, if necessary, issue testing reports for R&D projects to provide technical support for the Governance Committee’s vote.
- Review product issues reported by the community and provide recommendations for repair.
- Organize community productivity.
Technical Committee Node and Revenue
Q: What is the role of the Nebulas Technical Committee node?
A: The Technical Committee node provides the source of funds for the Technical Committee operation and all node proceeds will be put towards the Technical Committee operation.
The Technical Committee’s operating funds come from two major sources:
- Fixed income: Derived from the Technical Committee node benefits and distributed to members involved in the governance cycle.
- Project bonus: 5% of completed project funding will be awarded from the GoNebulas Fund pool and distributed to relevant Technical Committee members that are supporting the project.
The operating funds are divided into two parts, which are designated according to the actual work of the technical committee.The required workload for following up on different projects varies and 5% of project incentives can be distributed for support. Only completed projects have this project sharing bonus and some projects will work without project sharing such as daily affairs, the early steps in proposal management, produce test reports to prevent loopholes in the proposal or project approval process, etc… The operating cost of this specified work is compensated from the node revenue which ensures the Technical Committee members have a certain minimum fixed income.
Q: How much of a benefit will a node be to the Technical Committee and why?
A: Firstly, Technical committee nodes do not always need to be in the top position. For the purpose of reserving minimum funds, it is temporarily ranked first. Please note that the distribution of incentives to technical committee members involved in each governance cycle does not mean that the benefits of each governance cycle node are monthly. The benefits of the Technical Committee nodes can be seen as a source of funding for the Technical Committee’s pool of funds.
Q: How much does the technical committee spend each month?
A: The actual cost of each governance cycle of the Technical Committee depends on the number of personnel and workload, while the workload of each governance cycle varies depending on the community. The use of such information shall be made public on a regular basis and is subject to community supervision.
Q: How many NAX does the Nebulas Foundation hold?
A: As of April 17th, the Nebulas Foundation holds 144,008,766.93 NAX, accounting for approximately 15% of current total circulation supply. This portion of the NAX is used to ensure the steady progress of the node program and to assist with the continued development of the NAX economy. As a new token, NAX has a small economic scale and needs to go through a gradual expansion process.The Nebulas Foundation has promised that this NAX would not be used at will. Any large changes will be made public to the community in advance. In case of an emergency response, the reason and process will be made public to the community afterwards.
In addition, 5% of the daily NAX distribution is reserved for the NAX Ecosystem Fund pool which currently has 34,792,278 NAX and will be used to promote the Nebulas ecosystem construction, such as community marketing and promotion.
Nebulas Technical Committee construction progress
Q: Who forms the technical committee as of now?
A: The Technical Committee is currently being formed. Follow-up lists will be made public to the community.
Q: What work has the technical committee completed in April?
A: April’s work includes two parts:
- The establishment of the technical committee including personnel interview, node building, workflow development and so on.
- Preparation for the first mainnet PoD governance vote. This includes the current open proposals proposed project reconciliation as well as the organization and publicity of the first PoD governance vote.
Follow-up progress will be made public to the community.
The original Nebulas Technical Committee was established in September of 2018 and has been committed to the gradual development of Nebulas’ Technology in the spirit of openness, sharing and transparency.
Learn more about Nebulas:
Official website: Nebulas.io
Node Platform: node.nebulas.io
Smart asset platform nextDAO: nextDAO.io
New Telegram(EN): t.me/nebulasen
Telegram Node Operating Group: t.me/nasnode
Community Forum: community.nebulas.io