Just to be clear - this proposal is for US$320k in salaries for a year, and then another 4.5mn tokens (so what…6.5mn) vesting in a year? Are those tokens to be distributed on an ongoing basis for future contributors or is this going to the proposed core team?
Also “long term” locks would usually be more than one year.
They’re asking for 4.5M JUP in total. 1.5M of that is to attract/retain new talent and other initiatives. 3M of that is for the 4 current members of the CWG (3 full-time and 1 part-time). They are vested for 24 months with a 12 month cliff. In 12 months, half of the JUP tokens will be released. The remaining half will unlock linearly over the subsequent 12 months.
Just took a look at the CWG’s budget proposal and I have to say, it’s pretty solid. They’ve clearly laid out their plans for funding and token distribution, with a big focus on community growth and innovation. It’s great to see such a structured approach to enhancing DAO participation and pushing forward with DeFi projects. Looks like they’re really thinking about the future of the ecosystem.
This is an awesome proposal. I’m supportive and have a few questions / requests for adjustments.
Proposed adjustments:
JUP allocation to 2.5M, with 1.5M for current members and 1M for new talent
Extend the vesting to 3 years with a 1-year cliff…
Unlock some JUP tokens based on hitting specific milestones in addition to time-based vesting
Questions:
Can you break down the $450K budget in more detail? Specifically:
a. Each CWG member’s workload and responsibilities (and any outside conflicts beyond DAO)
b. Plans for the $100K overflow budget (How many events? What type of travel?)
c. Moderator compensation and duties (channels / time zones)
Can you provide more detail on how you plan to use JUP budget to attract talent:
a. What roles and expertise are you looking to fill?
b. Strategy to identify and recruit top talent
Paint us a clearer picture of the CWG’s value creation plan:
a. How specifically you’ll collaborate with the Jupiter team and community
b. What metrics will measure the CWG’s progress in the first 12 months
The other community members also raised fair points about accountability:
a. How will the CWG be held accountable for deliverables?
b. What’s the process if the CWG underperforms in the first 12 months?
c. Consider regular progress reports to keep everyone in the loop
I think this will probably pass as is… but a few changes will make it even more compelling and get the community fully behind you. The goal is finding the right balance between fairly compensating the CWG and doing what’s best for the Jupiter DAO long-term.
i like the discourse and the ideation around this budget layout… i think its brave to let many minds interact and have a say on proceedings if not challenging to say the least… my only thoughts on all this is that jupiter is going to win and win big… So you want to look after the people involved in major ways as thats what winning teams do but just not to the point where they are over fed and being unjustifiably greedy… as long as its clear those two facets are met fairly then its a win for all. projects can die from having too much food and can die from having not enough…
I saw it in a few posts but want to echo a few points:
All for the incentivization plan. Aligns interests. I think it’s a balance of what do you pay guaranteed versus what gets paid out for performance. I think I’m okay with the balance here.
The expense budget seems oddly high relative to the amount paid to the CWG. How are the expenses more ($450k) than the effort they’re putting in ($320k)? What counts as expenses? How do you account for that?
The efforts of the CWG is a full time job and they should be competitively compensated. The $320k for the group of 4 seems low to me.
I may be misunderstanding how the expenses are used. I read it as each of the four members has expense budget / 4 to play with which seems distorted.
I’m voting no, but only because I don’t understand the expense budget. It’s more than what the CWG is being paid and it’s not clear how that’s going to be used or accounted for.
Maybe avoid the word RSUs in the proposal. Just to avoid any regulatory challenge… token/ RSU… may not be well understood by the regulator seeking to term tokens as stocks.
Budget Concerns: Some members of the community may have concerns about the proposed budget and token allocation plan. They may question the necessity of the expenses outlined or the allocation of tokens, particularly if they believe it to be disproportionate or unnecessary.
Potential Centralization: Despite the emphasis on community engagement, there may be concerns about the potential centralization of power within the CWG or the broader Jupiter ecosystem. Some community members may prefer a more decentralized approach to decision-making and resource allocation.
Lack of Clarity: While the proposal provides detailed information about the CWG’s plans and activities, some aspects may still lack clarity or specificity. Community members may seek further clarification on how funds will be used, how decisions will be made, and how success will be measured.
Alternative Proposals: Some community members may prefer alternative proposals or approaches for achieving similar goals within the Jupiter ecosystem. They may advocate for different priorities, strategies, or leadership structures.
For community members, I have two simple questions 1. Name another project (in the world) that is so open and transparent (answer is none). 2. Name another project that has such positive, progressive and expansive plans for growth of its token and active involvement of the community (answer is none).
Jupiter didn’t need to ask us at all. But Jupiter is different to all the other (largely smoke and mirrors companies, businesses and organizations).
The CWG, these talented gigabrains are faced with no easy task 1) to establish a Global Decentralized Stock Exchange, and b) the most effective decentralized autonomous organization (DAO) in the world.
Their tasks are to grow the Jup community participation, ensure the ecosystem is ‘clean’ (via strict lists and removing bad actors), keep the lfg launchpad going (including project candidate selections, AMAs and so on), grant programs, encouraging and facilitating catdet programmes and onboarding, setting up and supporting new Working Groups. The core WG are not ‘5 minute Marys’ but a true OG, proven to battle for Solana, with various previous successful projects, when Solana was as fashionable and popular as a 10 day old fish sandwich. Their skillset is seasoned, and they have the skills, knowledge (and networks) to make significant things happen at pace. They don’t NEED to work and contribute to Jupiter, they are already in high demand. They CHOOSE to work and support it and we should be biting their hands off in rushing to accept their involvement. Meow knows the pedigree of the CWG and has liaised and worked with them over many years. I have already voted in support and am looking forward to what the future will bring. LFG and make it happen.