Contributor Compensation Guidelines

Contributor Compensation Guidelines

General guidelines for Yam Contributor Compensations.

Contributor Core Values

  • Yam should offer fair & competitive compensation, while also attracting those aligned with the mission of Yam.
  • Yam hopes to attract the best and most ambitious minds across the world
  • Transparency in structure and a clear path for future growth are important.
  • Yam workers should be incentivized to drive financial value to Yam; compensation in Yam is meant to align worker interests with Yam holders.

Compensation Structure

  • Part-time contributors are paid 100% in Yam on a 3 Month Stream.
  • Full-time contributors (40 hours) base salary in yUSD and Yam. Compensation can be up to 50% yUSD unless otherwise noted. Yams are streamed for 3 months.
  • $YAM price is based on 30 days TWAP highest liquidity AMM pool.
  • Compensation is denominated in US dollars.

Contributor Trial Periods

  • Each contributor compensation will have a trial period.
  • Trial periods can be different depending on the position.
    • It could be any beneficial contribution or bounty work for Yam for a minimum of 1 month.
    • For developers that have not already contributed to Yam, there can be a test bounty administered by team lead.
      • Succeed the test and Yam uses their work - receive the value as a bounty and be considered for the position.

Payscale by Roles

Core Developer - Front End $80k - $100k, Smart Contract $90k - $120k

Yam core developer, your goal is to provide Yam with awesome software that will expand the Yam ecosystem and add value to the Yam token; you are to continuously find, discuss, vet and exploit opportunities on behalf of Yam users. You do this by building as defi composability allows, in a way that is not hostile to the ecosystem.

  • Front End
    • Build and test web interfaces that are easy to use, simple and intuitive.
    • Work on web improvements for yam and yam projects.
  • Smart Contract
    • Build, test and deploy new contracts.
    • Advise on, codify, and implement protocols for yam and yam projects.
    • Work on and improve incentive structures and strategies.
  • Engage, vet, and recruit exceptional services, vendors, and developers that wish to contribute to the Yam Finance ecosystem.
  • Distribute budget with the goal of decentralizing processes for further development, security, and governance of Yam Finance.

Organizational Ops - $70k to $100k

Organizational Ops, you make sure Yam has shared goals, ethos and people are doing their best work and don’t lack in funding, tooling, or infrastructure. You do that by surfacing implied goals and ethos in explicit form, helping distribute budget, oversight on overall direction and keeping up the slack where the org is lacking.

  • Distribute budget with the goal of decentralizing processes for further development, security, and governance of Yam Finance.
  • Work with the community to determine values and mission, and plan for short and long-term goals.
  • Engage, vet, and recruit exceptional services, vendors, and community members that wish to contribute to the Yam Finance ecosystem.
  • Track community suggestions, facilitate synthesis, and guide proposals to YIPs.
  • Identify and address problems and opportunities for the protocol.
  • Build alliances and partnerships with other organizations.

Marketing / Communication Ops - $70k to $100k

Marketing / Communication Ops, you make sure that what happens with Yam is clearly and honestly communicated to the core groups and external public, there’s enough healthy places for discussions, there’s as little clutter and bad faith engagements as possible but people aren’t shunned for holding a contrarian view. You do that by coordinating community facilitators, tending to gardens of discussion (Governance Forums, Discord, etc), writing blog posts and hot takes on twitter.

  • Distribute budget with the goal of decentralizing processes for further development, security, and governance of Yam Finance.
  • Create, coordinate, and organize all marketing and media related items.
  • Assist with the design, look and feel of Yam’s projects.
  • Track budget, revenues by product line, expenses, TVL, and notable governance proposals.
  • Track community suggestions, facilitate synthesis, and guide proposals to YIPs.
  • Engage, vet, and recruit exceptional services, vendors, and community members that wish to contribute to the Yam Finance ecosystem.
  • Organize and facilitate a regular community call.
  • Draft regular updates (substack or other) to keep the community informed on governance, protocol updates, revenues, and expenditures.
  • Build alliances and partnerships with other organizations.

Community Facilitator - $30k to $50k

Community facilitator, you make sure that everyone who wants to use Yam is able do that easily and seamlessly, and that everyone who wants to discuss Yam in good faith is able to do this without issues or resentment. You do that by tending to gardens of discussion, being polite but firm at all times, writing blog posts and hot takes on twitter.

  • Engage & familiarize the non-technical community with Yam Finance.
  • Keep the clutter and bad faith engagements off governance forum
  • Moderate various Yam Finance communication channels (Forum, Discord, Telegram).
  • Draft and revise documents explaining Yam Finance to the non-technical community.
  • Advise on distribution of community grants budget to educate and strengthen the Yam community.
  • Participate in regular community calls and support Communication Ops with recording and distributing communications.

Project Development

Based on delivered projects

Bonuses

Available but case by case basis.

Experience Guidelines (Lower limit to higher limit)

  1. I’ve been around the block and know how to work independently, but I still need help coming up with a scope of work and working with people outside of my area of focus. I’m eager to grow horizontally and vertically.
  2. I know what’s going on and some people (maybe even myself) would consider me an “expert” on my specialty, but I’m still eager to grow my skill set. I can work with different stakeholders and drive initiatives internally.
  3. I have deep expertise in a particular vertical or have direct experience that is relevant to ETH/DeFi/DAOs. I’m eager to further the mission of Yam and work with other engaging and ambitious people.

Other items

  • All compensation must go through the Yam Governance process. Each contributor is responsible to submit and propose their request for compensation. Team members will assist in the process but ultimately it is up to each individual to complete the process.

  • There is no vacation policy. Contributors are encouraged to rest and take vacations as appropriate, but these should be clearly communicated in worker proposals. It is incumbent upon individual contributors to ensure other Yam workers are aware of any vacation or time-off.

  • Compensation for non-vested payments are paid at the beginning of each month for the previous month’s contributions. Compensation is paid at the whim of on-chain governance and is not guaranteed or owed to you by any “Team member”, Yam token holder, or other contributor to the Yam protocol. On chain proposals for disbursement of funds take a minimum of 2.5 days to complete.

  • All compensated contributors must submit a monthly transparency report and are subject to a quarterly review.

  • Contributors are expected to manage their own contributions and ensure that they are providing meaningful value to Yam. We are all responsible to help and assist each other, as we are all on the same team. Holding each other accountable to the DAO is part of everyone’s responsibility.

    • If there is an issue with a contributor not providing meaningful value to Yam.
      • Privately discuss with a full-time contributor or project/team lead.
      • If the complaint merits further discussion, Full-time contributor or project/team lead will be responsible for communicating the issue to the contributor.
        • Must be documented and included in the monthly and quarterly report for transparency.
      • Any contributor or project/team lead is NOT responsible for any other contributor’s compensation or changes to compensation. It will be up to YAM governance.
3 Likes

To clarify: “streaming” means vesting, correct?

Example:
Someone earns $1k in YAM for the month of Jan, he/she would receive the full amount over 3 months, starting in Feb. Works this way?

Good question,
Let’s say your compensation is $10000 and Yam’s 30 day average price is $2, your monthly pay will be 5000 $YAM per month. A streaming contract will be setup with 15,000 $YAM and streamed to your address. If you decide to leave or stop working, the stream can be ended via governance vote.