This proposal suggests capping the salaries for all workstream leaders at ShapeShiftDAO at $120,000 per year in USDC, plus time-locked FOX payments.
The purpose of this proposal is to put a cap on the salaries of our workstream leaders at ShapeShiftDAO. We’re suggesting a cap of $120,000 a year in USDC, and giving them monthly supplemental payments in the form of time-locked FOX tokens. These supplemental payments will be locked for one year before they can be used. The idea behind this is to make sure we’re being smart with our treasury and making sure our workstream leaders are motivated to work towards the long-term success of ShapeShiftDAO.
Workstream leaders have positions of authority at ShapeShiftDAO, so it’s important to be sure that our workstream leaders always have the best interests of the organization at heart. However, some of our workstream leaders are taking salaries that are way too high, especially considering our current finances and the bear market. As a result, some leaders are choosing to cut contributors instead of lowering their own excessively high salaries. @seven7hwave, the tokenomics workstream leader, and @Giantkin, the moderation workstream leader went above and beyond and are showing great ownership by taking most or all of their salary in time-locked FOX. It’s important to remember that the market rate for workstream leader salaries doesn’t really apply at a DAO. ShapeShiftDAO is owned by FOX holders, and it’s our responsibility to make sure the organization is successful. If workstream leaders are serious about cutting costs then it’s important that our workstream leaders demonstrate ownership and set an example by cutting their own high salaries before suggesting any other payroll cuts. Plus, many of our workstream leaders used to work at centralized ShapeShift, and the proposed salary cap is more in line with what they made there than their current salaries.
- The proposed USDC salary cap for all workstream leaders is $120,000 per year.
- The cap will take effect immediately and will overwrite any existing budgets.
- All workstream leaders may receive monthly time-locked FOX payments that will each unlock after one year.
- Time-locked FOX payments will not be boosted.
- Workstream leaders may not take any separate position on payroll at ShapeShiftDAO.
- The proposed salary cap makes sure our workstream leaders aren't plundering the organization's treasury.
- The time-locked FOX bonuses will make sure our workstream leaders are always working towards the long-term success of ShapeShiftDAO.
Assuming the operations budget is approved and the upcoming engineering budget does not change the workstream leader salary in USDC, this proposal would save the DAO 19,500 USDC per month
Some workstream leaders may be unhappy with the cap and may choose to leave the organization.
There may be a small delay in electing new workstream leaders to fill any vacancies.