Authors

ChopChop

Glossary

Solidity

DAO

DeFi

Summary

This proposal is intended to add additional compensation to the Sablier stream of Twade (Solidity Developer), due to an increase in capacity (70 hours per month) towards NFTX. Passing this proposal will not alter the end date of his original stream, which is due March 10th 2023.

Rationale

After hiring Twade earlier this year (XIP#22) onto the NFTX Core team, he has been a cornerstone in the current solidity squad, driving forward new features for both the protocol and product squads. As the team progresses working on the new and improved version of the protocol, we’re in need of additional resources to accelerate this endeavor.

With Twade having proven his worth and being available for more hours per week (17.5h/w), we’d like to propose increasing his compensation to be in line with the work he puts in. The increase proposed is pro-rated to other developer roles within the core team and in line with his previous package.

Effect

Opportunity

• Having more resources on the solidity front of NFTX is required to advance with a “V3”, which is needed to grow further as a project.
• Having Twade increase his hours limits the resources required to find additional talent instead, which can be a very lengthy task at hand.

Risk

• None noted

Specifications

Extending Twade his hours will not change his responsibilities, keeping him responsible for:

• Assist the solidity development team in any tasks that need additional help.
• Picking up and leading lower priority protocol feature requests when time permits.
• Due to limited time commitments, guarantee that projects keep moving forward when not around.

Funding request - Yes - Implementation Requires Funding

In order to increase Twade his hours committed to NFTX, we’d like to offer him the following updated competitive package, for which funds are required from the DAO treasury. Packages are paid as defined below, following current Core salary standards within NFTX:

Current Stream

• 33000 USDC 12-months vesting schedule using Sablier.
• 11000 USD worth of NFTX, 12-months vesting schedule using Sablier.

Additional remuneration to be added

• Additive 12375 USDC 6-months vesting schedule
• Additive 4125 USD worth of NFTX, 6-months vesting schedule

The additive funds are to be paid upfront after the vote passes. Extension of his position from March 10th 2023 at NFTX will require an additional proposal.

Communication

• Discord: NFTX
• NFTX Salary Benchmarks: XIP#20

Quorum

• Minimum Quorum: More than 10% of circulating, non-treasury NFTX must participate for a proposal to Pass. *For changes to the NFTX contract, more than 70% of voting tokens must vote FOR for the XIP to pass.