Council of Nine - Stipend Payment Approval

Hello Sipherians!

As you may already know, our Nexus Program specifies that all Council members would be eligible for a Monthly Stipend for their efforts. However, given that they will be paid directly from the Community Wallet Funds, we are handling this via a formal community vote.

By approving this proposal, the following will occur:

1. Each current and future Council member will receive a base monthly stipend of $560. Note: This amount was calculated under the assumption that each Council Member performs Council-related tasks for an average of 14 hours a week, even if the true amount of hours differ.

2. All Council members will be subject to a stipend bonus every three (3) months of service. The amount will be subject to approval by the community (Genesis Sipher NFT holders) each time.

3. The Sipher Team will be withdrawing, from the Community Wallet, the USD equivalent of: 3.a. Six (6) months base stipend payment for all 9 Council members. 3.b. The stipend bonus amount, which will be approved by the community every three (3) months (see point 2). ***Regardless of the withdrawal type, the Sipher Team will determine the best method to perform this payment, in a gas-efficient manner, and will handle the logistics after these funds have been withdrawn.

Thank you for your input. If you have any questions regarding this proposal, feel free to contact us within the Sipher Discord.

Additionally, you can always view the Community Wallet balance and all transactions within the following link https://gnosis-safe.io/app/eth:0xe363041EE475609dD2E3b0C5Fd6c7BA50B6B7cF5/balances

• Sipher Community Team