Dev WG: Dev Working Group Funding

TLDR

This proposal is a proposal to create a dev working group (similar to the other working group that was created (see use of funds report 1 here). The first working group experiment has been a huge success, which has allowed us to move quickly as a group, fund workers, give contributors small tips, as well as feel empowered with direct governance over funds.

Working Group details

  • Voting power in the working group will include the following people:
    • Eric Arsenault, Isaac, Luis, Jonathan, Brody, Eugene, Alex, Jeff, Eduard, Skogard, as well as various others who have been very active in the community
  • Funds will be used to pay for various dev efforts, including our dev relations team.
  • We will place a constraint on the DAO of 30 members. Once we reach 30 members, the working group will divide into two groups of 15 member (or multiple smaller groups).
  • This is an experiment in structuring our DAO. There is a lot to learn, and may not be the long term structure of the DAO.
  • This working group (as well as others that might emerge), may become good candidates for delegation once this feature is live on the protocol.

Eric Arsenault will act as the representative for this group, and ensure funds move to the DAO wallet address.

Payments will be made bi-weekly or monthly (as needed) to the following Ethereum address: 0xc9044DaabF32659aF9E6ecc58C7247f3Ec7d9C2f

Some funds will be swapped for USDC and some other will be kept in RARI (2/3 swapped, 1/3 RARI)

Individuals who are paid by this working group will consider themselves independent contractors and will report taxes accordingly. Forms W8-BEN and W9 will be filled out accordingly before funds get distributed to them when appropriate. Eric will be responsible for collecting these forms.

Funding amount, and use of funds

$300K equivalent in RARI as an initial amount of funding for the working group. These funds will be used to:

  • Pay workers for their contributions
  • Fund grants devs in our ecosystem think are important, including public goods
  • We expect these funds will last a number of months (>4)

We are expecting to pay roughly four devs to start working and experimenting with the protocol: Stefan, Way too Digital, Matt and Terrence (roughly 50K month, but to a large extent TBD). Salaries individuals will need to have the accountability and reporting requirements to ensure we have a performing group.

The amounts reserved for grants will be reported on as well by the dev working group, and will be funded on an ad-hoc basis.

Accountability

The working group will be completely transparent around how funds are used, and provide reports at the end of each month outlining expenses.

Members of the working group will continue attending community calls and will participate in governance processes.

Why should Rarible DAO fund this?

We need to keep pushing forward with the execution of a decentralized ecosystem. Empowering working groups is a key part of this process. Expect more of this soon.

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