I disagree that the funds must be entirely in control of Invictus. But that's just me. My point is they have not actually decentralized the funding itself.
Ok, so if not invictus, then who gets to make the final decision about where the money goes? Should it be you?
Should we do a poll on the forum for who to entrust with the money? I can make 1000 sockpuppets if you like and send all the money to me for my "project".
Should we just give back the funds to the people who donated? Ok then, I guess I can donate as much as I want because I get it back anyway.
Bottom line: People donated with the understanding that Invictus would be managing this money for the benefit of the community on behalf of the community.
Well. I guess what I am proposing is a paradigm shift from what I3 is doing. There is no right or wrong. You are right that AGS works exactly as they set out to do it.
In what I am proposing, you would be voting with your coins and investing in each DAC in portions you are comfortable with.
(fact PTS is closer to that since it is liquid, but you still have no say in which DAC you want to devote funds to)
Then the coin itself which would be liquid and % of the profits for each DAC would go towards development bounties through assurance contracts.