22.08.06- Specific Architectures (Ross) Contributor Compensation Request

Contributor Compensation
#1

22.08.06- Specific Architectures (Ross) Contributor Compensation Request

Payment Info

Time-frame

Month of July

Hours Worked

Yam Re-Org Silo Work = 25 hrs/week x 4 weeks = 100 hrs

Other Work = 15 hrs/week x 4 weeks = 60 hrs

Rate

Monthly Rate varies by Silo/Project. This will be broken down below

Rate for Yam Re-Org Work = $85/hr
Rate for other work = $62.5/hr

Total Compensation Request

100 hrs * $85/hr = $8,500
60 hrs * 62.5/hr = $3,750
Total = $12,250

Pay split is 70/30 USDC/YAM
YAM 30 Day TWAP rate is 0.136 USD/YAM

$12,250 *.7 = 8,575 USDC
($12,250 * .3) / 0.136 = 27,022 YAM

Wallet for payment

0x88c868B1024ECAefDc648eb152e91C57DeA984d0

Background

I work on YAM full time and have focused on improving the operations, organizational structure, and efficiency of YAM. I have also contributed project management and design work for the YAM website and YAM Synths, both conceptual and front end. I have started doing more development work, fixing problems with the website and trying to build useful tools for the DAO. My original employment proposal is located here: Full-time contributor request for Ross

Goals

I continue to work on designing and specifying a model for YAM that allows for more accountability and flexibility around how work gets done. This entails changes to project structure as well as the structure for the day to day functioning of YAM. My goal is to turn YAM into a truly decentralized organization that does not rely on any specific group of contributors to succeed.

I plan to start implementing the recommendations from the re-org and also propose new projects and tools for the DAO to fund and use. I want to use the new grants model to fund value adding initiatives for YAM.

YAM Reorg Work

Other Work

Voting with UMA - Yambassadors

I have begun voting on UMA disputes and governance votes with the YAM treasury UMA. You can read about the process so far in the following posts:

Here is a summary of the votes for this month (originally posted on discord):

A quick update on this initiative. So far this month I have voted on 5 different DVM votes and earned a total of 737 UMA (~$2147 at today’s prices) for the DAO. This comes out to a 1.76% return on the month (~21.1% extrapolated yearly). You can see the transaction where I claimed the rewards for the DAO here: https://etherscan.io/tx/0x85897cda0fdb8746377ad942990ce3a6a352a276b7455b08e49bfcf3195b38b6. They go straight back into the voting contract so they should compound.

So pretty good so far. But I will admit I could have done better as I missed a reveal for a big batch of votes. the reveal window is only 24 hours and I missed it by a few minutes, but It was a stupid error on my part and I will do better in the future.

I will continue to vote next month and will add a section for the UMA votes into the new documentation I am working on.

New Project Ideas

Misc Other

Lessons Learned

The treasury redemption vote was a wake up call. It shows me that I need to work harder to get my vision for YAM out and also to start building on it ASAP to convince token holders that it is a value add. I still strongly believe that the new model for YAM is a huge improvement and we will start to see the benefits from the changes in the next half year.

The governance attack, while it made “headlines,” was in the end much smaller news than the treasury redemption vote. I am glad that the redemption did not pass and I hope that I can now prove in the next few months that it was the right decision. I plan to dive more into product development as the main thrust of the re-org has been designed and now requires implementation.

I am taking a 2 week vacation at the beginning of August (on it right now!) and I hope to come back refreshed and ready to go. (I wont be charging for my time away of course!).

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