m3taversal
1073c231c8
Co-authored-by: m3taversal <m3taversal@gmail.com> Co-committed-by: m3taversal <m3taversal@gmail.com>
3.8 KiB
| type | title | author | url | date | domain | format | status | tags | event_type | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| source | Futardio: Hire Advaith Sekharan as Founding Engineer? | futard.io | https://www.futard.io/proposal/B82Dw1W6cfngH7BRukAyKXvXzP4T2cDsxwKYfxCftoC2 | 2024-10-22 | internet-finance | data | unprocessed |
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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,” 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.
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.
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