Proposal Information
Proposal description:
For this month, contributors were paid in stable coins by Griff (DAI, USDC and USDT on Polygon and Optimism). 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 stable coins and asks for reimbursement here. Hopefully this process will cause upward pressure on the GIV price as our contributors use stable coins 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 36 Giveth contributors. Details of the paid contributors are as follows:
| Name | Hours for the month |
|---|---|
| Lauren | Full-time |
| Mateo | Full-time |
| Ashley | 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 |
| Griff | Fixed |
| Suga | 88.04 |
| Giantkin | 20 |
| Kay | 60 |
| Amin | 10 |
| Nikola | 60.85 |
| Cotabe | 75.25 |
| Santi | 24 |
| Franco | 57.5 |
| Surbhi | 74.50 |
| Maye | 91.88 |
| Dani | 119 |
| Nicolas | 160 |
| Mo | 100.72 |
| Rodri | 77.92 |
| Heather | 22 |
| Freshelle | 29.83 |
| Ahmad | 40 |
| Tosin | 50.65 |
| Jake | 16 |
| Moe Shehab | 60 |
| Nico | 42.5 |
| Algene | 41 |
| Stee | 30 |
| Brichis | 21.82 |
Please note that the hours reporting can be accessed by contributors in Clockify.
Funding Information
For this month, Giveth earned $2,864.60 from the technical partnership with General Magic (GM). Non-technical work for GM projects have the same invoicing arrangement.
Praise to these Giveth Unicorns who brought in revenue to Giveth through providing their services to GM:
- Mitch
- Moenick
- Maryjaf
- Surbhi
- Maye
- Mo
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 this month’s figures:
| Description | Amount |
|---|---|
| Giveth contributors only cost | $84,565.15 |
| GM contributors working in Giveth | $14,986.78 |
| Total Giveth Compensation cost | $99,551.93 |
| Less: Revenue (Giveth contributors working in GM) | -$2,864.60 |
| Net Reimbursement cost | $96,687.33 |
| Add: Monthly Clockify Subscription (Giveth portion paid by GM) | $231.49 |
| Add: Swapping, Bridging and Gas Fees* | $446.82 |
| Total amount requested: | $97,365.64 |
GM <> Giveth Accounting Summary
| Description | Amount |
|---|---|
| Giveth contributors working in GM | $2,864.60 |
| GM contributors working in Giveth | $14,986.78 |
| Monthly Clockify Subscription (paid by GM) | $231.49 |
| Giveth needs to pay GM | $12,353.67 |
*Swapping, Bridging and Gas Fees Reimbursement
To accommodate contributor preferences for payment tokens, we did multiple token swaps and bridging across different networks. We tracked the associated costs from swapping and bridging, including gas fees. This reimbursement request is based on the USD value at the time of each transaction. The amounts below correspond to (1) batch swapping and bridging from a “Main wallet”, sent to GM and Giveth and fees are allocated based on the number of contributors paid for each month, and (2) fees for swapping, bridging and sending payments from each organization’s designated wallet. This request covers the period from August to November 2023.
As discussed here, it is proposed to reimburse Griff 80% in stablecoins and 20% in GIV tokens. If stablecoins are not sufficient, we are proposing to request ETH or other tokens that we could sell to process compensation payments.
-
Amount requested: $78,028.18 worth ETH/stable tokens
Breakdown: $77,349.87 (80% of net cost) + $231.49 Clockify + $446.82 swap/bridge/gas fees
Ethereum address where stable coins shall be transferred: 0x13071f225159f6D75fa9A850c5a1bE6d2DDa586D -
Amount of GIV requested: $19,337.47 worth of GIV (20% of net cost)
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 total $97,365.64 Giveth Core Team Compensation (November 2023) Payment
- Yes
- No
0 voters
