Authors

ChopChop

Glossary

Squad DAO

Summary

This proposal is intended to appoint a selection of 5 contributors, named in the specifications, to lead and grow NFTXs’ Consumer Product efforts in the form of a squad. Each contributors’ role, responsibilities, and compensation are detailed below.

Rationale

As the NFTX DAO has grown fast and claimed its position as the primary NFT liquidity protocol on Ethereum, it is key to continue innovating as competitors in the same and/or similar vertical will arise.

To ensure we keep this competitive advantage, we feel the need to appoint a fully committed product squad that is autonomous in leading research, development, growth, and promotion for the NFTX product(s) while also focusing on incentivizing and attracting third parties/community to develop on and/or integrate with NFTXs’ range of products & services.

The group of contributors listed in the specification of this proposal have all shown great initiative and added significant value to the NFTX ecosystem and its growth over the last months. Examples are the creation of the NFTX Gallery and efforts on recreating the current frontend. Next to that, they have all attracted many additional builders and community members towards the DAO, which will be critical to the long-term success of the DAO.

After talking with each contributor on an individual level to make sure they are available and open to this offer, we believe acquiring them in the form of a squad secures us with a committed group of people that lead product efforts on a daily basis, further strengthening the path the DAO is on.

Effect

Opportunity

• Each contributor has shown their value and competency to the DAO (mentioned above), and acquiring them in a paid position will cement our lead in the NFT/DeFi space.
• By setting up incentivized squads we become more structured in our daily operations and less reliant on pro-bono contributions by community members.
• Having a squad responsible for leading conversations around long-term dApp roadmaps will bring opportunities and focus for additional builders that are not open to dedicating full-time but still want to contribute.

Risk

• Communication is key to keep being perceived as an open org. Appointing squads may disincentivize other builders to contribute when communication isn’t clear around the squads' role and responsibilities.
• The competitive package could be incorrectly sized due to a part of the package being allocated in NFTX.

Specifications

If this proposal passes, hiring the squads will look as follows:

Consumer Product Squad Roles: Nick - Product Owner JB - Design Lead Javery - DevOps Lead Quag - Developer Finesseboi - Advisor

Main Responsibilities:

• Leading NFTX Consumer Products 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
• Grow MAU of Consumer Products offering

Funding request - Yes - Implementation Requires Funding

• In order to acquire, we’d like to offer them a competitive annual package, 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 at the time of vesting start), spread across four (4) individual yearly vesting schedules using Sablier.
• NFTX (worth 52k USD at the time of distribution), spread across four (4) wallets as an 8% signing bonus.
• Advisory role receives agreed-upon flat 13 NFTX compensation.

The package terms above are based on an informal salary grid taking input from other DeFi organization/DAO hiring guidelines. Total costs of the squad equate to 702k USD of yearly cost at the time of acquisition.

These funds are to be paid after the vote passes.

Communication

• Discord: https://discord.gg/xcJkxMXSR8
• Forums: https://forum.nftx.org/t/draft-proposal-xip-3-hire-consumer-product-squad/165

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.