@lemp.eth and I have been working on interim compensation guidelines.
We envision that the guidelines will evolve as Diamond DAO evolves. In the meantime, we intend to publish these guidelines as a stopgap to promote transparency and fairness in Diamond DAO’s compensation.
I am sharing this draft to collect feedback before “turning it on” for future contributors. In the future, after we’ve established the appropriate legal framework, we will formally adopt contributor guidelines and other bylaws through Signal Proposals. Please share questions, concerns, or suggestions by Friday, February 24
Welcome to Diamond DAO’s compensation guidelines!
The page starts with guiding principles and a compensation rubric, before applying the principles and compensation rubric through case studies.
Please share any questions or suggestions in the #general Discord Channel.
Who is this page for
- DAO members who want to create a new #Bounty
- DAO members who are creating a Diamond #Residency proposal
- We take pride in our work.
- Our work is important so we expect it to be done professionally.
- We reward execution.
- Ideas are great, but Diamond DAO rewards contributors for making things happen.
- We are transparent.
- All work must be paid out through a DAO proposal or from a public operations multi-sig.
- Each working group page contains links to documentation outlining current and past contributors.
- Review Diamond DAO proposals, Diamond Bank proposals, Mainnet multisig transactions, Gnosis Chain multisig transactions
- We require clear evaluation criteria.
- Provide a framework for evaluating your work and encourage others to do the same.
- We communicate with stakeholders.
- Check in with people in the working group/s relevant to your bounty or residency before proposing it.
- Regularly check in with with the people who are affected by your bounty or residency.
- Don’t hesitate to ask for help or support.
We look to relevant experience, time commitment, and performance when calculating compensation.
Types of experience
Diamond DAO considers three dimensions of experience: practical experience, Web3 application, and Diamond DAO application (in that order).
Practical experience - demonstrated competency in the skills required for a task.
- The task requires data analysis. Can you demonstrate your experience with data analysis?
Web3 application - experience applying the skills required for a task in a relevant Web3 context.
- The task requires supporting an outreach initiative. Can you demonstrate experience designing or implementing outreach campaigns for Web3 communities?
Diamond DAO application - experience applying the skills required for a task in the context of Diamond DAO.
- The task requires designing a component for Chainverse. Have you participated in the Diamond DAO UX/UI working group?
Draw on relevant experiences to choose a comfort level.
- Getting comfortable - I don’t have a ton of relevant experience, I’m going to need significant support to complete the task.
- Comfortable - I have a fair amount of relevant experience, I might need to do some research and ask some questions, but I’ll figure it out.
- Snug - I have a lot of relevant experience. I have a few questions, but can clearly see the path to completing the task in my head. I would feel comfortable teaching someone how to do this task.
- Cozy - I have a ton of relevant experience. I am widely known as a leader in this area or have received formal credentials to recognize my competency in this area.
Please provide specific documentation to substantiate your comfort level. Resume and CVs describing your work are nice, but Githubs, personal Websites, Twitter accounts, or forum posts/proposals describing your work at other DAOs are best.
Including specific documentation serves two purposes. First, specific documentation builds community confidence in your comfort level assessment. Second, specific documentation helps prospective contributors understand the type of people contributing to Diamond DAO.
Calculating base comp with comfort level
Base compensation is paid in USDC. Compensation levels were chosen with reference to other compensation guidelines (i.e. DXdao’s compensation guidelines), precedent from past contributors, and Diamond DAO’s current budget constraints ($35,000 USDC a month).
Getting comfortable - $20 an hour
*Comfortable - $*45 an hour.
Snug - $60 an hour
Cozy - $80 an hour.
- Provide an estimated hourly commitment range (i.e. 20-25 hours) and calculate payment by selecting the middle of that range (i.e. 22 hours).
- If you select this method, you request half of your stablecoin payment upfront, and half of it after completing the task.
- Manually track hours.
- If you choose to track hours manually (not recommended) request all of your funding after completing the bounty
Calculate share/token comp with results.
Base compensation won’t always be competitive with what your services can demand on the “open market.”
Diamond DAO rewards contributors with #Shares in Diamond DAO and Diamond DAO’s #Token.
- Shares confer voting power. Shares also confer a (nominal) claim to assets in Diamond DAO’s treasury, calculated by
Your shares / Total Outstanding Shares
- Diamond DAO isn’t ready to start issuing its token to contributors. When we are, community members will receive an allocation of Diamond DAO’s token based, in part, by how many
Sharesthey hold in Diamond DAO and Diamond Bank. After that, we will release guidance to calculate token compensation.
For #Season 0, share and token rewards ranges will remain constant regardless of time commitment.
- Getting comfortable 5-9 shares
- Comfortable 10-20 shares
- Snug 19-30 shares
- Cozy 29-40 shares
To qualify for the upper-end of each range, you will need to achieve one or more agreed upon KPIs that go beyond the baseline expectations for your task or residency. These KPIs are agreed to between the person proposing the bounty and the DAO on a case by case basis.
Say you are proposing a bounty to organize a series of workshops to teach Diamond DAO members how to query smart contract data.
You are an experienced data analyst and co-created a popular course on querying smart contract data in #Dune Analytics and #The Graph.
- Comfort level = Cozy
- Time commitment = 20-25 hours
Stablecoin compensation = 22 * 80 = $1760
- Half requested up front, half requested by the end.
- 29 shares for completing the workshops
- 35 shares if more than X people attend your workshops
- 40 shares if a Web3 data influencer attends your event or tweets about it.
- Service providers that provide specialized services (i.e. lawyers, smart contractors) and accept a higher level of management and supervision than general contributors may command a premium to the posted guidelines. Service providers are paid through Diamond Bank.
- The compensation guidelines for stablecoin compensation apply to team members (i.e. @amphiboly, @Christian Lemp). The team will work for Diamond DAO pursuant to a Services Agreement that will be posted for approval in Diamond Bank coming soon.