Authors

• ChopChop
• Javery

Glossary

• Solidity
• DAO
• DeFi

Summary

This proposal is intended to add Twade to the NFTX Core team as a Solidity Developer, for a pre-defined timeframe (12 months) at a limited capacity (40 hours per month), with the main goal to work and assist on new protocol features alongside Kiwi and Alex. After the 12 months period ends, when there is a mutual interest to extend the position, a new proposal will have to pass through governance. Rationale

As NFTX is expanding its’ reach into the NFT and DeFi ecosystems, onboarding additional talent onto the DAO Core team is key. Seeing the amount of traction on the recently launched FloorDAO initiative assisted by part of the Core Team, we’re feeling now is the time to further grow the solidity/protocol dev team. Having additional resources available lets us pick up multiple feature requests at the same time to get implemented on protocol V2, something we are expecting to increase exponentially as Market Making DAOs such as FloorDAO start to utilize the core functions of the NFTX liquidity protocol.

With Twade being in close contact with Caps and the rest of the Core team, we’ve agreed to propose a permanent position at a limited capacity of approximately 40 hours per month to get started on building out features such as trade-up and listings. The package proposed is pro-rated to other developer roles within the core team.

Effect

Opportunity

Twade has been helping out launching FloorDAO since January as an active contributor and has shown his ability to pick up solidity quick - onboarding him to NFTX Core would grant him more in-depth access to the day-to-day developments on NFTX and allow him to grow with the team.

Having extra hands available on the solidity development side is very welcome in a period where we expect a surge in user feedback and feature requests coming from FloorDAO, and other projects that build on top of NFTX such as Gem.

Risk

As Twade has limited capacity to contribute, we may run into situations where certain features take longer than necessary to get delivered. This can be nullified by proper project management.

Specifications

Hiring Twade will involve him being 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 appoint Twade to a solidity developer role, we’d like to offer him the following competitive package, for which funds are required from the DAO treasury. Packages are paid as defined below, following current Core salary standards within NFTX:

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

These funds are to be paid upfront after the vote passes. Extension of his position after 12 months at NFTX will require an additional proposal.

Communication

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

Quorum (For snapshot)

• 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.