At the time of HardFork:
modify( *account_auth, [&]( account_authority_object& auth )
{
auth.owner.weight_threshold = 1;
auth.owner.clear();
auth.active.weight_threshold = 1;
auth.active.clear();
auth.posting.weight_threshold = 1;
auth.posting.clear();
}
nobody will have access to steem.dao. That's where A in DAO comes from: Autonomous.
Does this mean that the refund goes back into the development pool for future distribution, or is it burnt?
Above code doesn't mean anything like that. Take a look at ELI5 section. What this proposal gets is sent back to Steem.DAO for future allocations. Over and over again if higher voted proposal wouldn't use all funds.
Ok, thanks. I have very little experience with this side of it yet, but hoping that the "learn by doing" process gets me up to speed... less than 24 hours to start the learning :)
The payouts will be very, very small at first so we will have time to learn by doing. The funding rate is about 2000 SBD per day and only 1/100 of the treasury is paid out per day so total daily payouts will start at (approximately) 20 SBD, 40 SBD, 60 SBD, etc.
It will be some time before they ramp up to anything significant.
Thanks for the info, I wasn't sure how the fund fills. Have you much experience with the potential outcomes or, is this going to be an experiment in innovation for us all?