ingestion: archive futardio proposal — 2024-10-22-futardio-proposal-hire-advaith-sekharan-as-founding-engineer.md

inbox/archive/2024-10-22-futardio-proposal-hire-advaith-sekharan-as-founding-engineer.md

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+---
+type: source
+title: "Futardio: Hire Advaith Sekharan as Founding Engineer?"
+author: "futard.io"
+url: "https://www.futard.io/proposal/B82Dw1W6cfngH7BRukAyKXvXzP4T2cDsxwKYfxCftoC2"
+date: 2024-10-22
+domain: internet-finance
+format: data
+status: unprocessed
+tags: [futardio, metadao, futarchy, solana, governance]
+event_type: proposal
+---
+
+## Proposal Details
+- Project: MetaDAO
+- Proposal: Hire Advaith Sekharan as Founding Engineer?
+- Status: Passed
+- Created: 2024-10-22
+- URL: https://www.futard.io/proposal/B82Dw1W6cfngH7BRukAyKXvXzP4T2cDsxwKYfxCftoC2
+- Description: Hire Advaith Sekharan as founding engineer
+- Categories: {'category': 'Dao'}, {'category': 'Treasury'}
+- Discussion: https://discord.gg/JeZpUBc8ab
+
+## Summary
+
+### 🎯 Key Points  
+The proposal seeks to hire Advaith Sekharan as a founding engineer with a salary of $180,000 per year and a fixed allocation of 237 META tokens, with specific vesting and unlocking criteria.
+
+### 📊 Impact Analysis  
+#### 👥 Stakeholder Impact  
+This hiring decision directly impacts the core team composition and operational capabilities of MetaDAO.
+
+#### 📈 Upside Potential  
+Adding a highly-engaged engineer could enhance MetaDAO's development capacity and innovation potential.
+
+#### 📉 Risk Factors  
+The long vesting period and clawback provisions may limit immediate access to incentives and could deter some potential candidates.
+
+## Content
+
+**Type**  
+Operations Direct Action
+
+**Author(s)**  
+Nallok, Proph3t 
+
+**Overview**  
+As specified in “[MetaDAO Fundraise \#2](https://futarchy.metadao.fi/metadao/proposals/9BMRY1HBe61MJoKEd9AAW5iNQyws2vGK6vuL49oR3AzX),” our goal is to build a core team in San Francisco. At this stage, we’ve found a highly-engaged candidate for the founding engineer role: Advaith Sekharan. We propose extending an offer to Advaith for $180,000 per year cash compensation and 1% of the token supply subject to the same terms as our [co-founder allocation](https://futarchy.metadao.fi/metadao/proposals/BgHv9GutbnsXZLZQHqPL8BbGWwtcaRDWx82aeRMNmJbG).
+
+**Specifications**  
+The terms of its release would be the same as Nallok and Proph3t, except that the vest would begin in November 2024\. Specifically:
+
+- **Fixed Token Allocation**: If you exclude DAO holdings, the supply of META is 19,755.7. If you include Nallok and Proph3t’s potential allocation, the supply of META is 23,705.7. 1% of that is 237 META. So Advaith’s allocation would be 237 META, fixed regardless of future dilution.  
+- **Linear Unlocks**: 100% would unlock at a \$5B market cap, with linear unlocks depending on price. For example, a \$500M market cap would release 10% of the allocation or 23.7 META.  
+- **Unlock Criteria**: Decided at a later date, potentially using a simple moving average (SMA) over a month or an option-based system.  
+- **Start Date**: November 2024 for the purposes of vesting. October 16th for the purposes of retroactive salary.   
+- **Vesting Period**: No tokens unlock before November 2028, no matter what milestones are hit. This signals long-term commitment to building the business.  
+- **Illiquid Vest**: The DAO can claw back all tokens until July 2025 (8 months from start). Thereafter, tokens vest into a smart contract / multisig that can't be accessed by Proph3t or Nallok.  
+- **Market Cap Definition**: \$1B market cap is defined as a price of \$42,198 per META. Payouts are based on the value per META, not total market capitalization.
+
+[Github](https://github.com/advaith101)
+
+[LinkedIn](https://www.linkedin.com/in/advaith-sekharan-78b52b277/)
+
+## Raw Data
+
+- Proposal account: `B82Dw1W6cfngH7BRukAyKXvXzP4T2cDsxwKYfxCftoC2`
+- Proposal number: 7
+- DAO account: `CNMZgxYsQpygk8CLN9Su1igwXX2kHtcawaNAGuBPv3G9`
+- Proposer: `613BRiXuAEn7vibs2oAYzpGW9fXgjzDNuFMM4wPzLdY`
+- Autocrat version: 0.3
+- Completed: 2024-10-26
+- Ended: 2024-10-26