Giveth Core Team Compensation - July 2023

Proposal Information

Proposal description:

For July 2023, contributors were paid in stable coins by Griff (xDAI on Gnosis, USDC, DAI 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 40 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
Suga Full-time
Giantkin 20
Kay 62
Nikola 77.58
Cotabe 141.85
Santi 21
Franco 124
Maryjaf 72.33
Surbhi 128
Keshav 20.07
Dani 20
Mo 150.26
Mitch 85
Marko 9
Rodri 90.16
Heather 32
Freshelle 50
Ahmad 40
Tosin 12.87
Jake 32.5
Moe Shehab 144
Nico 56.68
Algene 46
Stee 33
Brichis 6
Jes 2
Pedro P 4
Vyvy-vi 7

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 or is preferred by the contributor: Toraif, Yass

Funding Information

For July 2023, Giveth earned $28,185.24 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:

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

*Client didn’t pay GM yet for the projects they worked on, but revenue that Giveth should have earned is NOT YET included in the figures above.
** Pending time report. Revenue earned not yet included in the figures above. This will be added next period.

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 July 2023 figures:

Description Amount
Giveth contributors only cost $78,487.17
GM contributors working in Giveth $24,474.59
Total Giveth Compensation cost $102,961.76
Less: Revenue (Giveth contributors working in GM) -$28,185.24
Total amount requested: $74,776.52

GM <> Giveth Accounting Summary

Description Amount
Giveth members working in GM $28,185.24
GM members working in Giveth $24,474.59
GM needs to pay Giveth $3,710.65

Gas Fees Reimbursement

Since April 2023, we have been tracking how much is lost when swapping and bridging tokens to and from different networks for compensation processing. Gas fees were tracked as well. We are requesting reimbursement for this in USD value at the time of each transaction. Batch swapping and bridging is done for GM and Giveth, so the amount requested below is in proportion to the number of contributors paid for each month.

Amount requested: $133.80

Funding Request Summary

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

  • Amount of stable tokens requested: $37,522.06 worth of DAI on Mainnet
    (50% stable portion $37,388.26 plus $133.80 gas fees)
    Ethereum address where stable coins shall be transferred: 0x09eF81A00b0DFe589AB88b2b21B58b407F3a5188

  • Amount of GIV requested: $37,388.26 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 $74,910.32 Giveth Core Team Compensation (July 2023) Payment

  • Yes
  • No

0 voters


Loving the details in the numbers breakdown. As always amazing work @freshelle :heart_hands:

1 Like

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

(2) nrGIV portion is up for voting here!

37,522.06 - DAI requested
GIV price - 0.00873371646165703
Block number - 29616646
37,522.06 ÷ 0.00873371646165703
4,296,230.60981316 GIV requested

1 Like