Yes in the original proposal, it was said people could sell the salary and people voted based on that. So please have a poll on locking strategy, we should first have a poll on changing the policy if we want to lock the salary part, so people can decide better.
I’d rather not vote on a recent poll until we decide on this.
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Following the discussion on the GIVernance call today, July 22 I’ve gone ahead and created two snapshot votes to resolve this debate:
Increase the Required Lockup Duration for GIV received as Equity?
Ranked Choice Voting
https://snapshot.org/#/giv.eth/proposal/0x68b1e9cc1a383d9dc5b61fc428fb29088f99329a1508f1574975b0455c6143c4
Should all GIV received as Equity be required to be locked up in GIVpower? (Not just the bonus)
Basic Voting (Yes/No/Abstain)
https://snapshot.org/#/giv.eth/proposal/0x5fa16e7b4635a068bdd41a937359fd66274ef02b598a6fbfc29cd204a7164018
Voting remains open until the 29th of July! Engage!
You may also notice a change in your voting power, we have made the change to use only GIVpower in Snapshot, as a result of this vote.
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@mitch most of people here (38% percent) have voted to “keep the lock up period to 4 rounds”, so it’s against advice process to change it to 26 rounds.
In GIVmaxi, Giveth will lock 65% of my salary (+ bonus distribution) for one year, and will pay me only 35%.
It’s not called an equity opportunity for contributors, but it’s like locking contributors salaries opportunities for Giveth.
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@ramramez the changes to the lockup time won’t apply to months that have already been paid out (the old rules will govern that). The earliest it will be applied is for August salary payments (and you will have until the end of August to change what kind of bonus structure you would like).
So you can change to a lower bonus if the vote passes and you are not comfortable with locking you GIV with the GIVmaxi choice.
Equity is not typically “liquid”, and it’s not good for the GIVeconomy to be paying salaries out in GIV if contributors will need to sell it shortly after… it actually prevents us from meeting out goal of launching Gurves early next year because of the negative price pressure on GIV.
It is not against advice process to bring these concerns to a Snapshot, it is actually fair practice within the context of the DAO.
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And with that the votes have both closed!
The final results are
Increase the Required Lockup Duration for GIV received as Equity?
Yes - to 26 rounds (1 year)
Should all GIV received as Equity be required to be locked up in GIVpower? (Not just the bonus)
Yes (For)
These changes will come into effect for the August pay period with funds being distributed in the first week of September.
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