FIP-XX: GFX Labs Compensation

Summary

GFX Labs has provided services during the groundbreaking FEI RARI DAO merger, including smart contract creation and associated simulations & tests, solicitation of community input, and creation of a merger-plan in PDF format summarizing deal terms and conditions.

GFX Labs’ initially requested a payment amount equating to approximately 3.5 million USD, and has since re-proposed this with a timelock-vesting period of 2 years, linearly.

The terms proposed by GFX Labs have not achieved community consensus, but it is still necessary to come up with some amount of governance-agreed-upon compensation for the work provided - regardless and notwithstanding any potential future agreements to cooperate and work with the Tribe DAO.

Vote Calculations

The payout to GFX will be decided by this snapshot vote using a token-weighted sum to determine the final payout; the voting selection will include:

a. “No Payment” b. 50k FEI c. 100k FEI d. 333k FEI e. 1M FEI f. 2M FEI g. 3.5M FEI

The resulting payment will be calculated as the dot-product of the total number of each votes for each option by the list of options:

a(0) + b(50,000) + c(100,000) + d(333,000) + e(1,000,000) + f(2,000,000) + g(3,500,000)

(where a-g are the proportions of votes for each respective compensation option)

As a simple illustration of this formula, imagine a scenario with three potential vote amounts: A, B, and C. Take the case in which these options receive 10%, 40%, and 50% of the votes respectively; the final payout would be calculated as 0.1A + 0.4B + 0.5*C.

This vote will be posted to both the TRIBE and RARI snapshots. The votes on both snapshots will be totaled to compute the numbers and proportions above, using the conversion factor of 1 RGT = 26.7056734303 TRIBE listed in the terms of the merger. This is important so that both TRIBE and RARI holders can have say on the size of the payment.

If the “No Payment” option receives more than 50% of the vote, then no payment will be given. Otherwise, “No Payment” is equivalent to “0”.

Scope and Execution

Payment will be in FEI remitted from the Tribe Optimistic Approval multisig and is intended to be compensation for existing, completed work, and is not meant to be an indication of future collaboration. All additional compensation or long term arrangements between GFX and TRIBE are separate from this proposal.

Links

Associated Tribe Forum Post: https://tribe.fei.money/t/fip-xx-amended-fei-rari-merger-proposal-fip-xx-gfx-labs-compensation/3734

Associated Rari Forum Post: https://forums.rari.capital/d/186-amended-feirari-merger-proposal-gfx-labs-compensation

Original GFX Labs Merger Proposal: https://gfxlabs.io/docs/draft_fei_rari_merger.pdf

Original GFX Labs Smart Contract Code: https://github.com/code-423n4/2021-11-fei