PIP-0021: cleanup & definitions

PIP/PIP-0021.md

@@ -20,7 +20,7 @@ This document comprises the general agreement between parties receiving funding
 
 - **Proposal**:  An electronic document describing Works being proposed for receiving Funding.
 
-- **Funding**: The moneys to be paid to the Contractor in exchange for the Works, as specified in the Proposal.
+- **Funding**, **Proposal Amount**: The moneys to be paid to the Contractor in exchange for the Works, as specified in the Proposal.
 
 - **Payments**: A PASC disbursement from the Foundation to the Contractor comprising a part (or entirety) of the Funding.
 
@@ -30,13 +30,18 @@ This document comprises the general agreement between parties receiving funding
 
 - **FAS**: The Foundation's accounting system (“FAS”).
 
+- **Contractor PASA**: the Contractors PascalCoin account used to receive Funding.
+
+- **Contractor Holding PASA**: an account maintained for the Contractor by the Foundation.
+  
+- **Reserve Ratio**: the % amount of the Proposal Amount a Contractor needs to hold in order to receive Funding. Currently this is **0%** but is likely to change as FAS is developed.
+ 
 ## TERMS AND CONDITIONS
 
 ### 1. PARTIES
 
     1.1 The parties ("Parties") to this Agreement are the Foundation and the Contractor.
 
-
 ### 2. GENERAL
 
 **The Parties agree:**
@@ -88,21 +93,6 @@ This document comprises the general agreement between parties receiving funding
 
     5.7 If Proposal is terminated for any reason other than successful delivery of the Works, then the balance of the Contractor Holding PASA is retained by the Foundation, otherwise it is sent to the Contractor.
 
-**NOTE:** The purpose of the above 2 rules provide the following benefits:
-- Provide an economic incentive for Contractors to deliver high-quality Works as efficiently as possible
-- Provide an economic incentive for successful Proposal termination (rather than a Community Abort) since Contractor will receive "Bonus"-style payment on succesful completion.
-- Allow serious Contractors who already HODL PASC to bypass this requirement.
-- Not limit the pool of available talent to only holders of PASC, but anyone who wants to earn PASC.
-- Allow non-holders of PASC to participate in the PASC eco-system, but in a genuine and serious manner. 
-- Allow non-holders of PASC to HODL PASC, teaching sound investment techniques likely to craete community of evangelists who promote PASC as price orbits the moons of neptune.
-- Filter out scammer and non-serious minor Proposals without requiring expensive community effort.
-- Automated filtering via this economic incentive model allows high-volume, high-frequency more granular proposals (spanning into the thousands and tens of thousands over time).
-- Ensure large contracts are not awarded to Contractors who do not believe in PASC.
-- Ensure at least 10% of total PIP-0011 funds are always reserved in the supply
-- Reserve can be used by Contractors for earning income by staking it on Layer-2 sidechains, both securing Layer-2 sidechains via Proof-of-Stake and earning income from this reserved capital (can be used in Layer-2 nodes).
-- Facilitate highly-decentralised and well-capitalised Staker set securing non-federated Layer-2 sidechains (sidechains "not owned by anyone")
-- Lowers supply-side liquidity on exchanges, yielding adding slight upward price pressure for PASC.
-
 ### 6. LIABILITY
 
 **The Contractor agrees:**
@@ -154,3 +144,4 @@ provide a reasonable user-experience for the Contractor.
 
     9.5 to provide a means to review the revision history of this Agreement (e.g. GitHub revision history).
 
+**END OF AGREEMENT **