Overall I support compensating the moderating team. That being said I am against valuing WMemo against current price. WMemo should be valued (for this purpose) at backing. Salaries can be topped up to meet the originally proposed value until WMemo meets backing.
It should still offer a lucrative offer as backing (and hence price) will multiply in the future.
In line with the comment of @Mynima considering the current situation of Wonderland, periodically allocating part of this budget seems wise.
As I understand the budget can only be altered by a new proposal. The current governance framework is unable to assure that proposals, even if they have majority support, make it to a vote. So, effectively we are writing a blank check that we may or may not be able to cancel.
Taking a limited timeframe may also help with clarifying which changes we will see between now and the end of the period. Then upon the end of the period, the community is able to evaluate to what extend the previously defined goals have been met. Granting the budget for the next period can then be based on the evaluation of the past period.
Modify the proposal to a fixed term budget, e.g. 3 or 6 months.
Allocate the budget at once to avoid opening up the DAO to the liability of having ‘employees’. If a lump sum seems too risky, do it through a decentralised payment stream protocol, e.g. Superfluid, Sablier.
Clearly define current situation and situation by end of the term.
Another question, in the DAO Discussion topic it was mentioned the budget covers 8 mods, what is the reasoning for choosing this cut-off? Do I understand correctly that in the current form, allocation of the budget is at the senior mod’s discretion, i.e. they are free to change the composition and compensation of the mod-team?
Actually that was my next question.
If voted in, it should be very transparent who is awailable in what hours.
And the team should be devided all over the world.
It should be very important that at leas one mod is reachable 24/7 no matter where in the world, live.
Communication channel has to be not only discord. It has to be on many social media. Someone has to be responsible for twitter, telegram and co. while someone else has to be responsible for discord.
Also we still didn´t get any tool to control the true online and working time per mod.
There has to be a special login on the WONDERLAND site, where mods register their time when they “arrived to work”. Could be a front end dashboard, for community transparency purpose
@Blablub It’s funny that’s what you thought, because we chosed the market price for the opposite reason
Essentially, the idea was that by using market price there is higher incentive to make the protocol better based on the potential upside and down side.
Where as the backing price is fairly stable and would not create as much incentive. It would actually make it so we’d need the protocol to fail (until a potetial redemtion option is available) to access the value of our token.
Either way, I do understand why backing is a good metric so we will take that into consideration.
@smash_n_grab We added it cause a lot of people asked for it, but we could always change it back to MIM.
I agree with the last sentiment. But when does the impartial hiring process begin? Putting people into these positions that have not been vetted, doxxed or chosen by the community is unethical and wrong. This is either a DAO or it is not. A full recruitment process should take place with every person interested in these positions able to apply for them transparently. Random people should not be just placed; nepotism leads to ineffectiveness and corruption.
What if you did a lock up period of wmemo - that would truly incentivize the mods to make this community and DAO grow. And on top of this maybe make it so that the max withdrawal per period is x dollars - limiting massive price fluctuations in the event wmemo gains traction again
He screwed us once, what does make you think he wont screw us again?
You guys need to finally realize where this all is heading. Hopium is only to keep people on board, the goal is to drain the treasury and dani will come up always with new ideas how to re-distribute the treasury or wMEMO to people or to himself. He tried it with the abracadabra merger and failed thankfully. Look at SPELL now and imagine all the people that would’ve been rekt by this merger.
No matter who is being put in place, dani and sifu still do what they want eventhough the community clearly stopped sifu from being TM he is still in the discord like nothing ever happened. Wonderland is a complete Joke and if you dont believe me now, you will when the hopium is gone at last. Watch the treasury getting smaller and smaller, the only ones who wont get anything are the long term investors.
@Rav While I understand and agree to a certain extend, the intend of the proposal was to pay some of the most active mods. That is what is being proposed. It is not just “random” people, but rather some of those who contributed and still contribute the most.
That said, nothing prevents any member of the DAO to propose what you have described in the future. The DAO can choose to not accept this proposal and write another one that satisfy its need better. Just because not every detail was made by the DAO, it doesn’t mean thE DAO is not the final decision maker.
@KevvyKev That’s an idea, but it would be adding a lot of complexity for a rather small amount of wMEMO. Price impact would be very limited even if we dumped our allocation every month.
Last proposal of 25k was already too much IMO but I would have vote YES cause like I said at the previous proposal, mods definitely have to be paid for their work ! No big deal if it’s a bit too much… Protocol have enough treasury for this if we start farming again…
Timing was clearly bad and asking so much when some holders lost 80% of their cash and probably many of them earn way smaller wages doing far more difficult/painful jobs is IMO not very delicate… Waiting for the revenue share to be implemented, so holders get an idea of protocol revenues, how much do they get from it, and then how much should be attributed to the mods would have been much more wise imo…
BUT this time with the 0,5 wMEMO/month it’s a clear NO from me !! Come on 0,5 wMEMO using the price of 20k, are you serious. In a few month we will probably be back to backing, some whales are accumulating despite the low liquidity pool, it’s very likely the bottom price that we are looking at RN !!
When back to backing (which will increase even higher if market goes back up) 0,5wMEMO will be worth 20K + 12.5k = 32.5k/month !!! It’s worth than the previous proposition…
3 options for me:
20k MIM/month or less: HAPPY YES from me
2)25k MIM : I will vote yes cause you guys need to be paid so gonna let it go even if it’s too much
3)More than the above and especially with 0.5wMEMO : BIG NO
Sorry guys, big supported of you being compensated but not like this…
ps: Also, like some people are saying, all this new stuff that you guys are supposed to do are not there yet… I think it would be smart to start with a way more reasonable salary claim that many will accept, and when this changes are in place make another vote to raise your wage accordingly…
Don’t know who would prefer you to get wMEMO instead of MIM ?? But if it has be like this I think it would be better that your salary is a fix dollar amount and you get paid the equivalent in wMEMO…
But I definitely think it we be way more simple to pay you in MIM, you guys can then decide if you want to buy wMEMO or not…
Another option I have in mind, don’t know if it’s a good one, but when revenue share are implemented and we know what % of the protocol revenue goes to holders, a % of it should go to the mods before being distributed to all holders… So if the protocol make good money you guys get paid more (and also get more as/if holders) and if the protocol didn’t perform well then everyone get less… Seems more fair to me…
Thanks for replying. Has anyone looked at the tax implications to the DAO of these payments? In my jurisdiction the payer would need to make a submission to the IRS, or relevant tax authorities, so that they can double check that the payee is declaring this income appropriately. This would not be an investment return but an income payment. Hence there would be a necessity for the recipients to be doxxed, at the very least, not just to the DAO, the payer, but to the relevant tax authorities.
Additionally, engaging the correct people first is paramount to a successful business. Hence a recruitment process in which skillsets are declared and analysed. If the position is to remain voluntary then this is not necessary, but in a professional paid environment it is essential. The decision has to be made now correctly and not in the future. Otherwise you run into the same issues which almost torpeded this DAO a few short months ago.
And I am sorry the people to me are random. Apart from their meme names I have no idea who they are!
Tax implications have been taken into consideration and will be dealt with under the appropriate laws.
Again, I agree in principle. However, theses ideas have been brought up before and never went anywhere because there is no body in charge to make sure they happen. This proposal aims to change that by having some kind of mid level management to move things forward.
The reason why this one is going forward and others before did not, is because it is supported from the top.
I suggest you read @matjai’s response and mine on this post for a clearer explaination of the situation.
I will again, say that I agree with you and it would have been my prefered solution, it is just not realistic in the current situation in my opinion.
Since the mods of Wonderland are also on Sifu’s new project, I support the compensation.
I think after all that happened, Wonderland should pay the mods to make them financially free and do a better job for my $Sifu bags.
I see what you are saying here. This is why I think perhaps quarterly review of KPIs and adjustment earnings (reducing or increasing depending on market conditions) seems reasonable. As a whole we look at the work completed, key community milestones and then consider is the WMEMO at backing, what is that price now in the market and does it reflect the work completed. At which point we can propose and adjustment. Using WMEMO means that the mods are at the mercy of the markets in the same way as average investors, which in turn incentivizes them to act everyone interest as it is in line with their self interest.
Just given a flat MIM value doesn’t reflect the importance of performance of the core protocol. It could be going down the pan and they would still get paid a good deal while everyone else is losing sleep. This may only serve to drive a wedge between the mods and the community.
Also on a side note I am still very concerned about the need to 8 full time mods. There are not enough media channels or work for folks to be doing at that level. I’d say 5 (1 snr and 4 spread out over timezones) max and then in 6 months we revisit and see if the mods can pitch to the community the need for extending this.
I understand you way of thinking but mods are not devs/TM, their are not responsable of the protocol success. Doesn’t mean they don’t need to get paid, they spend a lot of time taking care of discord and helping people. If they start doing more (social media/communication with team) they deserve being paid accordingly IMO… Whatever if the protocol is doing well, but it needs to be reasonable. And like others said, they should first make a vote between YES or NO (or with a small amount/month). The vote would probably be yes (I hope)
As I proposed earlier, paying them a % of the protocol revenue just as like we will get a % of it with the revenue share is a good incentive for them to do their best… But IMO they deserve a minimum for being there all the time for the community…
I personally don’t think the number of mod getting paid is important, if the amount of MIM/month was more reasonable, it will be less money for them. I would let them decide between them who needs to get paid or not and how much, it really doesn’t matter to me…