We propose to compensate the core team members of YAM protocol.
Core team members of YAM protocol would be compensated in YAM token to align their long-term incentives with the success of the protocol. This compensation would be vested over a three-year time period.
YAM protocol is most likely to succeed if there is a dedicated group of core contributors who benefit from YAM’s success. In order to align incentives with YAM token holders, it’s essential that these core team members be compensated in YAM and that it be vested over multiple years.
Additionally, it’s important that core team members have some flexibility to reward and incentivize smaller community contributors without needing to go through the slow, bureaucratic, decentralized governance process.
Over a three-year period, YAM will be minted and streamed to a multi-sig wallet that is controlled by YAM core team members. This is a budget set aside for the core team to use at their discretion to reward, incentivize, and compensate talent within the YAM ecosystem.
This budget can be used to compensate themselves and it can be used to reward smaller, community contributors. It’s in the best interest of core team members that they surround themselves with strong talent to make YAM a success. This arrangement gives the core team the flexibility and latitude they need to behave more like a nimble startup instead of a slow-moving corporation.
In this vote, the YAM community decides how much YAM will be allocated for these purposes. Of course at any moment in the future the YAM community can adjust, replace, or stop this arrangement. It will be understood and expected that the core team will be transparent with the community as for the specifics of how these funds are used and allocated. In order to allocate these funds, the treasury will mint additional supply.
Note: The launch team has agreed to recuse themselves from this vote.
How much YAM BoU (balanceOfUnderlying) should be allocated for compensation of YAM contributors (core team members and community contributors), streamed over three years? We’ll use a weighted average so that everyone’s voice is heard.
These would be the options that would appear on the Snapshot page.
- 50k YAM BoU
- 100k YAM BoU
- 150k YAM BoU
- 200k YAM BoU
- 250k YAM BoU
- 300k YAM BoU