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# System prepended metadata

title: 'calamari [referendum 47](https://forum.manta.network/t/governance-for-development-fund/700)'

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# calamari [referendum 47](https://forum.manta.network/t/governance-for-development-fund/700)

https://calamari.subscan.io/referenda/47

i have now spoken to some of the council members and business development team involved in this proposal and would like to share that the concerns i had prior to that conversation have now been alleviated. here's what i learned:

## what will the token be used for?

the token allocation granted by this motion is being awarded to the team. however, when the anouncement said "team", a more appropriate term would have been "project". there are no token payments being made to individual team members. the allocation of this token is intended to benefit the project as a whole. it will be used at the discretion of the project's financial management to enhance existing partnerships and to make new ones. i heard, in this discussion, about an exciting partnership that is in its early stages. it's not something that would benefit from an announcement today, but it did make sense to me personally, that some of this token allocation will be dedicated to that specific engagement. other allocations will be used to incentivise specific areas of the project that benefit the whole. the project has invested significant resources into the release of the wallet extension, the npo and zksbt releases and other exciting aspects that have yet to be announced. it is fair that the project should recover some of that expenditure and have that award available for spending on future development.


## will some of the allocated token be exchanged for fiat or other cryptocurrencies?

probably. however not in the immediate future and not in large quantities. the management team responsible for the token disbursement have no interest in negatively impacting the calamari price. it would not benefit the project, the community or anyone else to do so. the tokenomics of smaller currencies are such that exchanges for other currencies must be managed responsibly and that is an imperative fundamental in any decisions that will be made in the future about exchanges of this token. the project intends to publish the wallet addresses that will be the recipients of this token allocation and we encourage the community to follow the distribution and journey of that allocation when it does trickle out of the initial addresses and become invested elsewhere. the initial allocation will simply be staked across a distribution of the existing collator set until spending decisions are made at a later stage.

## why the fast-track vote?

this was an oversight. we are a fast moving project that likes to achieve a lot quickly. as a result, we actually fast-track a lot of the proposals that enter the system. in hindsight, this proposal is significant enough to warrant a slower voting processs and we should have been slower to pull the trigger on this. especially while so few people understood the full impact of the proposal. we owe you an apology for moving too quickly on this particular referendum. so, we're sorry. it should not have happened this fast. we're going to have to put some safeguards in place to make sure we use a slower process where it's warranted and to think more carefully about both what we fast-track and who needs time to consider it. we will work on doing better in future. in this instance, we are confident that the community will eventually understand that the impact of this referendum is a net benefit to the ecosystem. the token being allocated will be spent responsibly and for the good of the network, and the community is empowered to watch that take place. so it's likely that the council will elect to allow the referendum to complete in the given fast-track mechanism. we appreciate that not everyone will be happy about this and we know we have lessons to learn about how this was handled, but it is what is.

## in conclusion

my own concerns about the proposal and subsequent referendum no longer exist. i am satisfied that the token is being distributed in a sensible way and i'm going to get back to work on delivering the best infrastructure the project can rely on. i won't be spending a whole lot of time on this subject because i know in my heart, that everything is going to be alright in the end. i hope the community will come to realise that too.