Thread by @bitangel84

1/ 🚨🚨🚨Dear #Osmosis #governance and #community, pay attention, we'll explain in detail why the prop.362 is very dangerous and potentially disastrous for the whole #osmosis network!

We at #Sinfonia, as builders & stakers on Osmosis strongly invite you to #VETO PROP.362!

2/#Reverie a 3rd party managing the #OGP is proposing a 1-year program extension by which they plan to continue playing with our funds in a totally non-transparent way and with grant allocs that are not only meaningless (few of them) but also very dubious.
mintscan.io/osmosis/propos…

3/ There have been 8 funding batches so far of which we know little or nothing, except 2 pieces of information they put on grants.osmosis.zone for the grants they approve.

Never seen a dashboard with status, or work updates, or public statement with money already disbursed.

4/ According to Prop. 186, we paid Reverie $70,000 per month to manage the program + $100,000 one time setup grant to permit best in class legal and operational setup for a total of $520,000, which represents about 27% of the total $1,950,000 grants issued
mintscan.io/osmosis/propos…

5/ These are alarms that we shouldn't ignore and we should be more careful about where our funds actually go. Basically more than a quarter of the funds allocated in grants have gone extra to Reverie..why? how come? how many people are they? an army?
$13.500 fee per grant issued?

6/ Launching such a program can have disruptive potential if managed well and transparently, in fact we were all on board and positively valued it for launch.

But as the facts show us, it can be just as destructive if badly or very badly handled, as in our case here.

7/ Let's take some allocated grants:

MARGINED PROTOCOL
- grant - $50K OSMO
- 25% upfront/ 75% at completion
- Exec. 3 months (passed)
Links - no links 👀
Progresses - we don't know
Money issued? who knows..
project still alive? who knows

8/ PHASE - Batch 2
grant - 40K USDC (up to 50K USDC to cover audit costs)
Exec.- 3 months
Links - devpost.com/software/agrifi (nice website but wen PHASE ser?)
Progress? - who knows
Still alive? - who knows
Money issued? who knows

9/ But let's go now and get some "delicacies" because until now they were only jokes.

The OGP Website Design 😎
Grant - $70K..oh yeah!! $70K and 7 weeks of work for a static page, spartan design, but heyy, these were friends and they gave us a discount.
We rock 🤡

10/ We could go on like this but let's go now to the best of the best:
VOID PROTOCOL
Grant: $250K in $OSMO
Exec.- 3/4 months (passed)
Useful Links:

https://twitter.com/ProtocolVoid/status/1538453612988358656?s=20&t=YtvD7wVpn5srN4YwtqQ6sw

(very useful)..
Progress - who knows
Updates - last general update from @ProtocolVoid August 15th, 2022.

11/ VOID Protocol deserves more😎
Money issued? who knows..hey Reverie, make us dream! The last VOID update was in the vicinity of the @TornadoCash disaster, and there are unofficial rumors that they abandoned the project fearing regulations, we'll investigate this further.

12/ So, @osmosiszone #governance and #community, we only presented you with some inconsistencies and we did it in a joking way but here actually there is nothing to joke about, in fact the situation is very serious or if Prop. #362 passes it could become tragic.

13/ It's fair we tell you that the #Sinfonia team (a product already in mainnet) also applied for a grant to the OGP, submitting 16 pages of precise and clear documentation of what was done, developed and spent by the Team from their own reserves.
See the expenses attached:

14/ After waiting about two months for a feedback we got literally humiliated by this group of people with an offer of $10K for #Sinfonia UI 😎 and $30K for another project we have which was never included in the grant request btw 😅😅
See attachments, we have nothing to hide:

15/ The amount we asked for in the form of a grant represented 22.64% of the total investment the team spent on the implementation of Sinfonia and its maintenance for the next 12 months, and we may not have expected to receive them all but at least have a decent negotiation…

16/ #Sinfonia development complexity level 99, potential of the #DApp 100, as it is unique in its field..app.sinfonia.zone go, try it...it's almost free😀

now go try grants.osmosis.zone and remember it was funded with a $70K Grant by the OGP while Sinfonia evaluated $10K 😅

17/ In the new prop. Reverie wants to extend this charade for another year, they've probably found the goose that lays the golden egg and it's clear they don't want to lose it.

#Discount ser
The new "modest" prop. is $55K USDC + 25K OSMO per month, with OSMOs free of vesting.

18/ Remember tweet 4/👆about the 27% of the total granted funds?
Well, if prop 362 passes, in the event that the price of OSMO reaches $6.00, means that Reverie gets 60% of the total granted funds, extra!
Grants are released to increase activity & value on $OSMO not the opposite

19/ There is another aspect that needs to be said.
Reverie is also a validator for Osmosis (which by the way leaks blocks all the time because of the very low quality infrastructure they've put in place).

20/ As you can see in the picture they have received massive delegations from Osmosis and whoever manages these whale wallets, it's enough clicking on one of the 1st 2 delegator wallets and understand they are "team wallets"..
mintscan.io/osmosis/valida…

21/ How much risk are we still willing to take, given all issues we've presented above, and we've also been synthetic, actually we could continue

Do we really want to continue this charade for another year and give these people a chance to drain @osmosiszone in the next future?

22/ Furthermore, This is the most expensive management ever seen or heard in Blockchain for a grant program...#Uniswap pays no more than $20K for its GP management, and we're not hypocritical to compare ourselves to Uniswap in terms of liquidity or power are we?

23/ @osmosiszone #governance, we know it's not easy to follow all the props on the network as there are so many and we often vote without reading the contents, but this time it's different, here we could be doing so much harm to our ecosystem that you can't even imagine.

24/ We have all been complaining a lot in the last few days about the FTX story and how our funds were stolen and we were cheated by a character with no scruples whatsoever....

Now what do we do, give the funds away knowingly and gladly?

25/ This is the time to take a stand and seriously evaluate what we are voting for here and based on all the above, dear @osmosiszone #governance here we have no other option but to vote NO WITH VETO, at least until we get everything clarified by those in charge!

#WAKEUP