by 0xd11a019a70986bd607cbc1c1f9ae221c78581f49 (Yemel)
Establish a monthly compensation for DAO Committee Members, who are currently acting as a trusted proxy to enact on-chain proposals voted in the DAO.
The main responsibilities of the DAO Committee are:
- Update proposal status in the governance platform (promote to enacted, passed, rejected)
- Keep updated smart contract lists such as: POIs, BanNames, Catalysts and Linked Wearables.
- Manage the Grants Program (deploy, fund and revoke vesting contracts)
- Execute Treasury Operations (do transfers, swap funds).
- Calculate and execute compensation for the Wearables Curation Committee.
- Reimburse gas fees to the DAO Committee.
- Refill gas tank of Polygon Relayer periodically.
Some other tasks related to the role are:
- Attend bi-monthly Town Halls and provide general community support.
- Give feedback to proposals, evaluate risks and implementations pathways.
- Contact external organizations in the name of the DAO.
In the past year, one committee member has sent +500 transactions in the name of the DAO. Thanks to the proposal of reimbursement of gas fees , this operation doesn’t have a monetary loss for the committee members. However, each of these transactions required attention to review/sign and those efforts are not being compensated in any form.
Adding to this situation, one of the initial three committee members resigned early this year. It has been hard to find a replacement who can take such a responsibility and willing to do it for free.
Compensate DAO Committee members is fundamental for a sustainable DAO operation.
Establish a monthly payment of 2,400 USD payable in MANA each month. The amount is established in USD to avoid problems related to MANA’s price volatility.
Each committee member will commit to working 4hrs per week at a rate of 150 USD/hr.
Setting compensation to the DAO Committee will attract and retain members with the required know-how to take such a responsibility. Having a strong DAO Committee will ensure the timely operations of the DAO.
This proposal specifies a fixed compensation per month regardless of the activity of the committee member. This might be a risk for a committee with many members, where the work of verifying transactions is done by a sub-set of the group. At the moment the committee only has 2 members and this is not a problem, but it would be interesting to transition to a performance-based compensation in the future (e.g. based on the number of transactions initiated and signed by the member).
The DAO Committee already has control of the DAO Treasury and is responsible for making payments to the Curators Committee and funding Grants voted by the DAO.
The DAO Committee will issue the compensation to itself at the beginning of every month by sending 2,400 USD worth of MANA (using the current market price).
Over the past year, the DAO Committee has been proven essential for the regular operations of the DAO. However this position has been voluntary for almost a year, and it requires substantial work from the members of the committee to cover their responsibilities.
Setting compensation for its members is key to attracting qualified candidates to join the committee and securing the timely operations of the DAO long-term.