[Secondary Proposal 30] Core Technical Team, May–July 2022

Official Proposals
1

API3 Core Technical Team Proposal
Period: 1 May 2022–31 July 2022 (3 months)
Amount: 492,947 USDC
Destination: 0xd9dAA0330920006dea50D0aDA4EBc9752d434111

https://bafybeiakausju2st5r457725qwv4y2hkyddym4tpy2matepjgygalnv4ji.ipfs.dweb.link/#/

2 Likes
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NOTICE: Secondary proposal #30 was created using an incorrect number of zeroes (3 instead of 6). Please instead vote for secondary proposal #31 as a replacement.

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Proposal 30 (31) University Vote
  • Approve
  • Disapprove
  • Actively Abstain

0 voters

5

Hey @bbenligiray ,

I have a quick question about the proposal!
You mention that you wish to have $40,000 dollars worth of API3 tokens from the hot wallet distributed to the team to incentivize the API3 dedicated team at protofire. Is this on top of their usual compensation, or is this their entire compensation?

Thanks,
Aaron

6

This is a 50% addition to their compensation in USDC

7

Thanks for the response,

The reasoning stated is to ensure a satisfactory outcome on this next project they’re doing for the DAO. Is this a recurring thing, that we need to pay them a 50% premium on their salary to do a satisfactory job?

Thanks,
Aaron

8

It’s not uncommon for long term strategic partnerships. It’s hard to define or measure what is a satisfactory job. This is a way to align incentives.

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9

Normally, contractors either want to be paid in stablecoins or in the project token with a significant discount (in which case we prefer USDC). Protofire asks to be paid in USDC, and API3 on top of that if their work is satisfactory. This effectively means they are asking to be paid in 2/3 USDC and 1/3 API3, since there won’t be any point in continuing working with them if their work is not satisfactory.

The API3 is supposed to be released to the individual developers on a long time frame based on some complex rules, but we don’t have any control or oversight over that process so we should treat this as a payment in API3.

10

I see, thanks for that explanation! I think I understand the rationale now!

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