Great to see this careful layout. Looking forward to see the execution on the wellness side!
A few Qs:
750,000 JUP is a substantial amount considering the target for each $JUP as per Meow’s plan. How can we go about measuring the impact of 1 year work as a way to justify the overall potential future value of those 750,000 JUP?
Also, being a budget to drive impact in the community, what do you feel about the ratio (team JUP budget / community incentives) ? Would it be worth either decreasing team JUP budget and/or increasing community incentives here?
I am honestly on the fence for this one. I dont want to discount the work done by these people, as it has been substantial. I am also not opposed foundationally to growing/supporting the community, ultimately that should support decentralization, which also helps build the empire. That foundational goal could be very good long term… but I’m not convinced this proposal is it…
The salaries are just, I would even be open to increasing the salary baseline a bit tbh. But the JUP bonus makes no sense.
Everyone trying to sell these immense bonuses keeps saying its for “alignment.” What does that even actually mean? It’s just jargon. The only thing getting a bunch (potentially a million each) of money for free does is align your pockets. We couldnt even allow for a price target “for legal reasons.” What are we doing?
Guys… Cats… Peoples… this is not going to make anyone trust the broader JUP team (CWG and CAWG included). This is the fundamental issue right now, and at every turn it seems that trust is erroding. We need to fix that first.
Hmm how do you suggest the DAO use its JUP budget then? There’s 10M USDC and 100M JUP funded by the team in the DAO treasury, topped-up annually for now.
if not for creating alignment and fully incentivising the DAO leaders and workers?
I’m genuinely curious, because I am sure some of us would not mind say higher USDC salaries (e.g. 8k USDC) and less JUP, we can simply market buy JUP with some of the additional salaries as well, but it will cause problems for DAO funds if nobody takes any JUP too since there’s 10x more JUP funding (in absolute numbers) than the USDC funding.
also, just to note is that JUP is CLIFFED, meaning it’ll only be released after accountability vote. and even then the remaining 90k JUP is still vested and only if the team stays.
I continue to fail to understand why the community is being asked to fund Jup’s marketing efforts. The platform makes upwards of 300 million in revenue a year. Stop diluting our tokens and pay for the working groups from company revenue. This continued pachinko machine is really starting to worry me. I love what Jupiter has accomplished with its platform and services but I am noticing that the community is being diluted to concentrate wealth in the hands of the few. We are buying into this project, please make it self-sufficient and direct efforts towards growing the base of people using the platform to trade.
Again, we need to define what “alignment” means… from my perspective, dropping whatever role you had before, to step into this role full time with salary should be what “aligns” you. I mean what else are you going to do if it fails? Which is another reason I think we should provide more of a salary. You’ve put all this thought into creating this WG, trying to find a place of need for the community, applaud you for that honestly (like I said, foundationally I agree). You are working for the DAO. But that seems to be pretty well aligned with the vision, so you also need a large JUP distribution on top of that?
In terms of incentivizing (just spit-balling here), maybe instead of having JUP be baked into your contract, we allow for quarterly votes, or even yearly look-backs with metrics based off of the success of JUP as a whole. Something like this would allow the WGs to showcase their successes more frequently and get the community more involved while also providing greater transparency. That then provides the “DAO bonus structure” for WGs and leaders. “Organization” is in our name after all, we aren’t just some blob that spits out groups that also happen to make tons of money. The structure resides in the decentralization, and governance should involve the community.
I hope this makes sense, and is productive for the leaders here.
yeah i mean i am happy to debate the incentive structures of the DAO and consider ways to improve and innovate on it, but tbh as a WG right now we are simply putting forward a ask that is extremely consistent and in fact lower than all of the prior WG asks (1, 2), for what we believe is an equally important value proposition and valuable team of people.
the reality of it is that that’s probably no perfect system, but this ask is extremely consistent with the DAO and Jupiter’s principles around compensation. I am not dismissing the importance of debating comp structures, but I hope we can debate these separately from the quality of the team and work that needs to be done.
Yeah, you may be right about it being consistent with other proposals, but those were also very contested too (I believe I even voiced similar concerns during those votes as well), which have led to the current state of the DAO community… ie, erroded trust and disunity.
So, sure, we can continue to do what we’ve done in the past… but is that really sustainable with our current trajectory based on what I am seeing within this community? I’m not sure, especially looking towards the future with ASR drying up etc… JUP needs to give people a reason to buy the token, not just give it away to a select few people.
But I digress, I am not sure where else to discuss this if not in a discussion forum about the very topic…
Yeah, I understand, if there’s anything regarding our plans or what we have done or things we identified to tackle that you would like to discuss more on, would be happy to explain those.
I think I have tried my best to justify the ask and also explain why I think it is consistent and fair and balanced. At the end of the day this is why it’s a vote as well. I hope we have presented a good case overall.
I’ve been impressed by Cat Year 0. The Cat Year 1 plan in the “Scope & Summary” looks solid, and after a quick read, I’ve got some ideas I’d like to share with all of you.
I was thinking about ways to tweak things a bit. For example, with ASR, setting targets like a 20% increase in active voters or 80% turnout on vote.jup.ag could help track how many people are joining in. Or with $JUP, something like a small marketplace to spend it on merch, community help, or anything that makes sense, maybe even a staking option (2-5% APR) for holding past 30 days, could make it more useful.
For events, I pictured turning PPP Hour into weekly sessions for 20 people picked randomly, plus a monthly Showcase on YouTube/X where anyone can join, with votes split 50/50 between CoC and Catdets who’ve got at least 10 Appurrciations. And on the money side, a public Treasury Dashboard showing where the money goes, reviewed every few months by 5 random Catdets, could keep things open.
Another thought was a Merit Score on the Catdets site, say 1 point per Appurrciation or 10 for running an event, to tie ASR rewards to what people bring to the table.
What could change:
Events: More people could take part – say, a Jupiter India newcomer pitching at the Showcase, with regions getting a fair share like $1,500 each.
$JUP: It could do more than voting – buy a shirt for 50 $JUP or earn a bit extra, so it’s held longer.
Governance: CoC rotate every 6-12 months, and Catdets get half the say on grants – maybe 100 votes for a meetup instead of a few nods.
Community: New folks get a “Catdet Buddy” to start out, and a Merit Score shows effort – like 200 $JUP for hosting an event.
This comes from a quick look, so I might’ve missed some challenges – development costs, ASR details, or governance quirks – that could complicate things. I’m just trying to build on what’s already there (ASR, Appurrciation, Pawlling Station) to make it more open and fair.
I completely agree with the proposal!
The team’s work is truly impressive, and the progress made is evident.
Community involvement and support are key to long-term success, and I’m excited to see how this plan will unfold in the future!
One of the biggest complaint that came up from this latest vote (but also for all the other budget related votes to be honest) seems to be the paycheck but especially this time the 750k vested JUP (which I don’t agree too much either). To avoid any further complaints in the regard of being a fair pay or not I suggest that the Team releases quadrimestral or semestral reports indicating what has been done but most importantly that conveys with data and numbers how the work impacted Jupiter userbase in the instances of user retention, new users intake, and data on the use and partecipation of the individual targeted plans in the proposal.
In this way everyone should have all the data necessary to understand clearly if all the costs and eventual bonuses are justified through the time.
I will vote against this proposal, and here are my reasons:
Unjustified spending on salaries and budgets. The requested amount of 312,000 USDC for salaries and 150,000 JUP for community incentives seems excessive. Given the instability of the cryptocurrency market and the uncertainty about the future, these expenses may prove to be too high. There is a risk that a significant portion of the funds will be spent on maintaining the current status quo instead of directing resources to real development and community expansion.
Unrealistic expectations for scaling. The proposal emphasizes scaling and increasing engagement. However, given the current risks in the cryptocurrency space, expecting quick and significant results in the coming months seems unrealistic. Scaling is always associated with greater uncertainty, and without a clear strategy, there could be problems with community sustainability.
Therefore, the proposed budget and strategy need to be reconsidered with more realistic expectations and improved mechanisms for transparency and accountability.
welcome @DZENARb liked your analyze .. we are still free speech and souls to share our inquiries ..good to read yours. Blessings! (Interesting points mentioned ) tks
But will that vote even happen? The reason I bring it up goes back to the CWG Budget vote this time last year. A 6 month DAO vote ratification was promised (along with other things) that never happened. Meanwhile, their 1 year cliff is about to end and 2.25M JUP unlocked.
I guess what I’m saying is: Fool me once, shame on you. Fool me twice, shame on me.
The question is essentially rhetorical since I know you’re not in a position to give a definitive answer. I guess I’m just venting for the lack of accountability since there has not been any accounting for a single USDC by any of the WGs over the past year.
IMO, every WG should be subject to quarterly reports that includes at the minimum:
What did you do?
How did you do it?
What were the results?
A full accounting of all expenditures (USDC, JUP or otherwise) including receipts and WG treasury balances
