Authors

Gaus

Glossary

DAO

Vesting

Summary

I propose that Javery and Quag each get 5200 NFTX tokens (0.8% of supply) deposited into their accounts with a linear vesting schedule of 4 years, using the Aragon Tokens app. These vested tokens would be to ensure their long-term alignment with the NFTX project, and would not affect their salary compensation or set a general precedent going forward.

Background

As founder, I am eternally grateful to the entire NFTX team for their ongoing work and support. I value each and every member of the team and hope very much that this proposal does not sour team morale at all for other members.

Every NFTX team member is great in their own way, however, Quag and Javery have continually gone above and beyond what is expected of them. They tend to respond to the majority of Discord support questions both early in the morning and late into the night. They regularly take on extra work on their own initiative, finding ways to add value to NFTX that go beyond their job descriptions. I can always rely on them to pick up any extra slack regardless of what it is I am asking of them to help with.

If either Javery or Quag got poached by another team it would be a severe hit to NFTX’s daily operations. For this reason, I believe it is prudent for us to use some of the large NFTX token reserves to vest 5200 tokens for each of them over a 4 year time horizon, similar to my own (remaining) vesting schedule as founder.

I propose that instead of using Sablier, we use the Aragon Tokens app to assign 5200 vested NFTX tokens to each of their accounts. This means that the tokens will be in their wallets immediately (however locked from being transferred), and the benefit of that is that they can then use the tokens to vote on Dao proposals while they are awaiting the completion of the linear vesting schedule. Given the 80% voter support threshold, this would allow Javery & Quag to be stewards of the dao similar to myself, and protect us from adversarial proposals.

As our team continues to grow I think it is best if this does not set a precedent for expectations, but is rather looked at as a specific case of increasing the alignment for two unique core members so that we may safeguard the continued success of NFTX for years to come.

Other than these vested tokens I believe salaries should remain as they are. Salaries are largely meant for covering living/family expenses, whereas these vested tokens would be meant to go beyond that and ensure long-term alignment to the project.

Specifications

Should this proposal pass, an Aragon vote would be initiated using the EVMcrisper app by Blossom Labs to transfer 10,400 NFTX tokens from the our Dao's Finance app to our Tokens app and then assign those tokens to Javery and Quag with a 4-year linear timelock.

Funding request

Yes, 10,400 NFTX tokens

Quorum

• Minimum Quorum: More than 10% of circulating, non-treasury NFTX must participate for a proposal to Pass.
• Passing Threshold: More than 50% of voting tokens must vote FOR for the XIP to Pass. For changes to the NFTX contract, more than 70% of voting tokens must vote FOR for the XIP to pass.