Draft Proposal: Retroactive Compensation For YAM Contributors

No, not at all. I am only discussing retroactive pay here. We must pay developers and other critical strategists at competitive rates moving forward and step up our developer recruiting.

In a traditional setting, Founding Team starts a company, builds an MVP, and then receives capital funding from outside investors. At that point they can pay themselves a salary for living expenses, etc. They don’t go back and pay themselves for their pre-funding labor. Despite all the differences in this decentralized setting, Yam is at “funded MVP” startup stage imo. Your previous work bought you a seat at the table for the salary conversation. Now it is time to commercialize the product.

Another issue I have is the ambiguousness to this proposal. Who are the others being considered outside of the launch team? Name them specifically. Perhaps one proposal for retroactive pay for launch team and another proposal for the ancillaries.

Or, let’s define what % of this goes to launch team?

Or maybe it would be better to re-write this as a sort of “hiring bonus” for the critical members of launch team that have been working on Yam full time and have IRL bills stacking up. Just an idea, I think this would sit better with me, for one.

Paying in Yams rather than yUSD to keep incentives aligned also makes more sense to me.

We are deep in the heart of the Great Yam Depression. Personally I would like to see proposals that grow the treasury, like hiring the team that will be our value creators moving forward. As this is written and with the defense presented on this thread, this begins to look like a cash grab from contributors. I don’t think that is really the case, but that is how it feels to the many of us who are losing badly here. I think you will have a much stronger case once we make it to the other side of the Great Depression. But I am just one idiot investor with an opinion.

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After getting input from others and launch team members, I’ve updated the original post with some details around how the funds would be split among the different groups of contributors. We would also include these details in the actual snapshot vote.

So I generally I agree with your sentiment. Specifically, I think the most important proposal to pass is the one where there is clear incentive alignment between core team members and YAM token holders moving forward. I want to look forwards, not backwards. Hopefully you’ve seen this other proposal which addresses exactly this: Draft Proposal: Compensation for Core Team & Contributors

That’s the proposal I’m most concerned about and frankly the one that matters most to us YAM token holders.

However, because much of the core team are based in the US, due to regulatory/tax constraints, it will not be possible to pay them a typical “salary.” As a result, we will likely need to retroactively pay some of our core contributors on an ongoing basis. This proposal here basically sets the precedent.

Here is another forum post I did which gives more context: Draft Proposal: Compensation for Core Team & Contributors

This proposal here is basically the “pay your bills” component of compensation (yUSD). I expect we’ll do more of it since there won’t be any base salary. And the other proposal (YAM, 3 year vesting), is the ownership, upside, get-filthy-rich-if-it-works component. That’s what really aligns incentives with token holders.

So in summary, this retroactive comp proposal is just setting precedent for all future contributors. We will reward you for your work.