Approving Salaries

Right now, neither BaoMan nor Rocky have a recurring payment for their work on Bao.

Both were granted a one-time stipend of $20k Bao that they agreed to lock for 6-months at the start of farming, and they have a share of the founders fund (which is 95% locked for 4 years like all Bao tokens)

Given the recent issues we've seen facing the Yearn community, the Bao community felt it overwhelmingly important to ensure that the team had proper compensation to drive forward this mission.

Given this, we're proposing:

1. In the xDAI version of Bao, instead of all deposit/withdraw LP fees going to the generic dev fund, 25% of those will go directly into a salary wallet shared by the active team.

2. BaoMan and Rocky (and up to one other dev) will take a 2.5B combined salary ($250k) from the dev fund for the first year, allowing them to sell a total of 208.3M Bao each month. The specific breakdown of how that salary is shared is at their discretion, so long as it does not exceed a combined total of 208.3M Bao each month in the first year. They may also choose to, at their discretion, save, stake or farm, their share of Bao.

3. The team can, at their discretion, use the dev fund LP tokens to recoup costs, pay for external consulting/support, cover hosting and any other hard costs from Bao so it isn't out of pocket.

4. The team can, at their discretion, use the dev fund LP tokens to cover all gas costs for admin functions, deployments, oracle updates, etc.

5. The team has full discretion over the dev funds LP tokens in their management, rebalancing and use when they believe it to be in the best interest of the treasury or the projects health.

In future years, since the total Bao in circulation will change dramatically, we'll re-evaluate these numbers.

Given the nature of this vote, both BaoMan and Rocky will be abstaining from voting on this matter.