Authors

ChopChop

Glossary

Squad

DAO

Summary

This proposal is intended to extend the position of four Core team members, named in the specifications, to continue leading NFTXs’ product efforts. Each role, its responsibilities, and compensation are detailed below.

Rationale

Since appointing Quag, Javery, JB and Caps to lead the originally called “Consumer Product Squad” close to a year ago, we’ve grown extensively as a DAO.

Since they joined, we went from 6 Core team members to now 10, we launched products such as NFTX v2 & NFTX.io, and have most recently assisted in launching FloorDAO - a fully operational decentralized market making DAO that has since rapidly increased the liquidity depth of the CryptoPunks vault. A good overview of this can be found on our Dune Analytics here.

Needless to say, this group of people has been essential to pushing NFTX to where it is today. As the original packages negotiated during XIP#3 are about to expire, we’d like to extend these positions for an additional year to ensure the NFTX DAO keeps progressing and remains dominant as the #1 NFT liquidity protocol on Ethereum.

If this proposal passes, the original Consumer Products Squad will remain working for the DAO as core team members, allowing them to execute further on their product roadmap.

Effect

Opportunity

• Each core member has shown their value over the past year - extending their position will keep product development within the DAO active.
• Multiple members have drawn talented friends towards the DAO as contributors, of which some have also joined the core team in an official position.
• Extending these core positions’ allows them to further execute on their mid-to-long-term roadmap.

Risk

• None noted.

Specifications

If this proposal passes, extending the team will put everybody in the listed roles:

Roles:

Caps - Product Owner

JB - Product Designer

Javery - DevOps Lead

Quag - Web3 Development Lead

Main Responsibilities:

• Continue leading NFTX product strategy, roadmap, and adoption
• Develop and/or delegate feature development according to community builder needs
• Creating and sustaining educational & promotional resources for the NFTX product ecosystem such as marketing website(s), product tutorials, and other types of content
• Build product(s) which contribute to the increase of NFT liquidity, inventory, and volumes across the board.

Funding request - Yes - Implementation Requires Funding

• In order to extend the position of four core team members, we’d like to offer them a similar competitive annual package to the previous year, for which funds are required from the DAO treasury. Packages are paid with a 75-to-25% ratio in USDC/NFTX.

The total amount of funds required from the treasury, combining all packages, are broken down below:

• 487.5K USDC, spread across four (4) individual yearly vesting schedules using Sablier.
• NFTX (worth 162.5k USD), spread across four (4) individuals, paid out in advance quarterly at spot price.

These funds are to be paid from the DAO Treasury after the vote passes, which has recently been rebalanced to secure a multi-year runway here.

Communication

• Discord: https://discord.gg/xcJkxMXSR8 2
• Forum: https://forum.nftx.org/t/xip-23-extend-four-core-positions/405

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.