For September 2023, contributors were paid in stable coins by Griff (DAI, USDC and USDT on Polygon). This is a proposal requesting reimbursement.
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.
For this month, we paid 41 Giveth contributors. Details of the paid contributors are as follows:
|Name||Hours for the month|
Please note that the hours reporting can be easily accessed by contributors in Clockify.
For September 2023, Giveth earned $14,298.99 from the technical partnership with General Magic (GM). Non-developer contributors who are working with GM projects have the same invoicing arrangement.
Praise to these Giveth Unicorns who brought in revenue to Giveth through providing their services to GM:
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.
|Giveth contributors only cost||$61,595.87|
|GM contributors working in Giveth||$30,237.00|
|Total Giveth Compensation cost||$91,832.86|
|Less: Revenue (Giveth contributors working in GM)||-$14,298.99|
|Total amount requested:||$77,533.87|
|GM members working in Giveth||$14,298.99|
|Giveth members working in GM||$30,237.00|
|Giveth needs to pay GM||$15,938.01|
As agreed here, we will be reimbursing Griff 50% in stables and 50% in GIV tokens.
Amount of stable tokens requested: $38,766.94 worth of DAI on Mainnet
Ethereum address where stable coins shall be transferred: 0x13071f225159f6D75fa9A850c5a1bE6d2DDa586D
(This is a new wallet address)
Amount of GIV requested: $38,766.94 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.