This post will detail how the multisig will spend the 2 million PNG distributed to it if our on chain proposal passes.
Let’s break it down into the following categories:
- Community rewards
- Reoccuring payments
We believe it’s important to reward and acknowledge all the people that have spent countless hours helping out our community.
In this regard, we would like to offer the following community rewards:
- Discord and Telegram moderators (Sr Chang, Sabo, HappyLittleBus, Xavier) 1000 PNG each
- MVP extraordinaire Connor 2000 PNG
Currently the first set of reoccuring payments will be salaries to the core team members and contributors.
The core team members will be:
- Myself — PM
- Bestcoder/Leo — Community manager
- Bmino/Brandon — Core dev
Core contributors will be:
In the past whenever I’ve had to hire people, I always used market related metrics to determine a fair price for remuneration. In DeFi these metrics don’t currently exist. Or at least not that I’ve seen. In this regard, I’m going to propose what I think is fair for the next 3 months. During those three months, we will have a bounty for market research for someone to research salaries of core team members across the top 40 DEXs. We will then collate those figures to be used for future salary discussions.
So in line with that, all core team members will be paid 140K USD per year, 100% in PNG. At current market prices (10pm UTC+0, 13th May 2021) the price of PNG is $3.45 USD. This works out to 40,579.71 PNG. Paid fortnightly at 1560.758 PNG each.
Please note We are actually taking a pay cut to move across to Pangolin. We love DeFi and are passionate about building and this presents an incredibly risky decision for us.
These salaries will be reviewed in 3 months after we have done our market research.
All core team contributors will be paid 2000 PNG per month.
There has already been a lot of work occuring behind the scenes and these will be the first set of bounties that will be paid out, if the on chain proposal is successful.
- Non Disclosure Agreement — Pablo (fee still to be finalised)
- Avalanche Multisig — Benny — 1500 PNG
- Code of Conduct — Pablo (fee still to be finalised)
- Market research on fair rate of remuneration for core team members — Open bounty 1000 PNG
- Pangolin Bot — Jonas 750 PNG
The next step is announcing the date for when everyone can delegate to the multisig. Currently this is tentatively proposed for Monday 17th May 2021.
Looking forward to hearing everyone’s comments.