Giveth Core Team Compensation - August 2023

Proposal Information

Proposal description:

For August 2023, contributors were paid in stable coins by Griff (DAI, USDC and USDT on Polygon). This is a proposal requesting reimbursement.

Proposal Rationale:

Griff is a GIV maxi, and to facilitate the payments of stable tokens to our contributors while we still build a better treasury management system, he pays people in xDai and asks for reimbursement here. Hopefully this process will cause upward pressure on the GIV price as our contributors use xDAI to buy GIV, instead of the opposite, where our contributors get paid in GIV and then sell the GIV to pay bills.

Also, while we sort out a streamlined process for payments, we believe this is the efficient way of paying people on time and without delay. Should there be better alternatives, your suggestions and feedback would be greatly appreciated.

Team Information

For this month, we paid 42 Giveth contributors. Details of the paid contributors are as follows:

Name Number of Hours for the month
Griff Full-time
Lauren Full-time
Mateo Full-time
Ashley Full-time
Amin Full-time
Mohammad Ranjbar Full-time
Moenick Full-time
Carlos Full-time
Alireza Full-time
Cherik Full-time
Ramin Full-time
Almond Full-time
Maryjaf Full-time
Suga* Full-time
Giantkin 20
Kay 60
Nikola 71.78
Cotabe 160.66
Santi 6
Franco 88.25
Surbhi 165
Keshav 67
Toraif** 8
Mo 160.57
Mitch 127.71
Marko 2
Rodri 39.91
Heather 31
Freshelle 49.5
Ahmad 40
Tosin 25.15
Jake 24.5
Yass 8.37
Moe Shehab 132
Nicolas 80
Nico 60.5
Algene 40.97
Stee 41.5
Brichis 4.92
Jes 1.27
Pedro P 2.03
Vyvy-vi*** 6

*Plus $27 for research expense (purchase of a book)
**May and June Hours
***Feb and June Hours

Please note that most of the hours reporting can be easily accessed by contributors in Clockify, while all final hours can be found in this sheet.

We have unpaid contributors for this month. We will pay them in the next month since hours are too minimal, preferred by the contributor or pending time report confirmation: Dani

Funding Information

For August 2023, Giveth earned $25,287.08 from the technical partnership with General Magic (GM). Non-developer contributors who are working with GM projects have the same invoicing arrangement.

:pray:t4: Praise to these Giveth Unicorns who brought in revenue to Giveth through providing their services to GM:

  • Moenick
  • Amin
  • Cotabe
  • Suga
  • Kay
  • Mo
  • Franco
  • Ramin
  • Alireza
  • Cherik
  • Mohammad Ranjbar
  • Mateo

On a separate note, the compensation of GM contributors who works for Giveth goes to the GM wallet (this is indicated in each of their Giveth work agreements). Instead of Giveth receiving the revenue earned, this will be deducted from the amount that Giveth pays to GM contributors. If there’s any excess, GM will need to pay Giveth any amount due.

To summarize August 2023 figures:

Description Amount
Giveth contributors only cost $81,803.33
GM contributors working in Giveth $29,975.61
Total Giveth Compensation cost $111,778.94
Less: Revenue (Giveth contributors working in GM) -$25,287.08
Total amount requested: $86,491.86

GM <> Giveth Accounting Summary

Description Amount
GM members working in Giveth $29,975.61
Giveth members working in GM $25,287.08
Giveth needs to pay GM (August) $4,688.53
Less: GM unpaid July amount -$3,710.65
Net Giveth needs to pay GM $977.87

As agreed here, we will be reimbursing Griff 50% in stables and 50% in GIV tokens.

  • Amount of stable tokens requested: $43,245.93 worth of DAI on Mainnet
    Ethereum address where stable coins shall be transferred: 0x13071f225159f6D75fa9A850c5a1bE6d2DDa586D
    (This is a new wallet address)

  • Amount of GIV requested: $43,245.93 worth of GIV
    Ethereum address where GIV shall be transferred: 0x839395e20bbB182fa440d08F850E6c7A8f6F0780
    The amount requested will be from nrGIV in GIV tokens at the spot price when the vote is created.

Approve net $86,491.86 Giveth Core Team Compensation (August 2023) Reimbursement

  • Yes
  • No

0 voters


(1) The multisig transaction is up for voting here!

(2) nrGIV portion is up for voting here!

43,245.93 - DAI requested
GIV price - 0.00828387758479889
Block number - 30066445
43,245.93 ÷ 0.00828387758479889
5,220,493.61030604 GIV requested

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