Tldr: The below is a signal proposal that approves a DXD vesting issuance plan for already passed worker proposals. Once approved, DXgov squad will deploy the contracts and an additional proposal will be needed to send the DXD. Please check out the Google Sheet to confirm the DXD numbers. Thanks to @allyq for putting this info together. This will be uploaded to IPFS before the on-chain proposal is submitted. If you are a contributor, please verify your xDai address
DXdao’s Worker Compensation Guidelines stipulate that contributors are to be paid in both stablecoins that are immediately receivable every month and DXD that is to be “vested continuously for two years with a one year cliff”. Some contributors have DXD vesting in smart contracts on Ethereum mainnet. Because setting up a vesting contract incurs high gas costs and requires some technical skill and that this DXD was not immediately redeemable, many contributors have not formally received their DXD. Instead, it is a ‘DXD debt’ for DXdao.
The Contributor UX squad started tracking unissued DXD for contributors in May by matching up a passed on-chain proposal (on mainnet and xDai) with their DXD compensation. The latest sheet shows DXD accrued through proposals that have passed as of the December 3 2021. For ease of accounting and deployment purposes, the vesting date for DXD will be at the beginning of the month it was earned.
There has been discussion on where to vest the DXD and how to manage the process. Soft consensus was reached on the Nov. 3 Governance discussion to have the DXgov squad facilitate the DXD vesting contract creation on xDai.
This proposal authorizes the DXgov team to facilitate vesting contract creation and DXD deposits into the vesting contracts that abide by the amounts and vesting dates to the specified addresses as laid out in this spreadsheet.
Contributors with earned DXD must initiate the vesting process and confirm the address on xDai before any DXD is transferred to a vesting contract.
Risks and Considerations
The vesting contracts will be deployed onto xDai, which means contributors’ DXD payments will depend it for security as well as the bridge that connects to Ethereum. Stubbornly high gas prices on Ethereum mainnet as well as positive signs on a potential merger or acquisition by Gnosis suggest that the future of xDai is bright.
This proposal relies on facilitation from DXdao contributors as well as initiation by contributors with earned DXD.