Since it would be a big hassle, especially in terms of gas cost, to deploy several vesting contracts, I’m requesting (provided DAO approval of course) to be paid out on a single vesting contract using a weighted median start date. I’ve calculated this using 50% of the total owed DXD, 46.045, and finding the date at which point that amount would be accrued. The math is as follows:
12/1/21 - 02/1/21: 19.09 DXD +
02/1/21 - 04/1/21: 19.09 DXD +
04/1/21 - 06/1/21: 7.865 (amt remaining to 50%) / 22.94 DXD (amt earned during period) = 34.3%
Total = 46.045 (50% of total owed DXD)
34.3% of 04/1/21 - 06/1/21 = ~04/21/21
If I go with a start date of 04/21/21, assuming my math is correct, the amount of DXD that will vest early will be the same amount that will vest late, which I hope is a reasonable compromise to avoid the need to deploy multiple vesting contracts.
I will await community approval before creating a vesting contract and share here for review before creating a proposal.
EDIT: I’ve corrected values used in the calculations as pointed out by @Powers
Hi @KadenZipfel I support a compromise on timing to avoid onerous gas costs for you and DXdao. I also support you getting paid out the DXD you earned while working for DXdao. I am not sure I am following all the numbers here so maybe a more detailed breakdown would be helpful. For example, I don’t know where the “36.36” came from. But in general sounds like you have a fair approach.
Kaden did a lot of good work for DXdao and deserves to get paid according to expectations. However, the timing of his departure from DXdao, before actually launching the smart contracts he was working on for Omen, was a bit damaging to DXdao, and I think raises questions of how “vesting” of DXD should be handled. It may make sense to have it follow a traditional “vesting” structure where the vesting DXD only matures contingent on contributors following through on their commitments and acting in good faith towards DXdao. I also think having DXdao have the ability to revoke vesting in the vesting contracts will be helpful for many contributors from a tax perspective, preventing situations where contributors owe taxes on something they can’t actually sell. In addition I think we should consider better ways to incentivize contributors to complete shipping of their work, such as using Carrot to create incentives that are contingent on the final deliverable and date of delivery.
Hey @KadenZipfel I also think combining proposals to save gas makes sense. I’m indifferent on the method but think the median date strategy you used makes sense.
@allyq has been tracking issued and unissued DXD for Contributor UX and had different numbers for the DXD payments than what is in your spreadsheet. You had 126 DXD as unissued, but the contributor UX sheet shows 92.15 DXD unissued to you.
In your sheet, the April/May worker proposal and the June/July worker proposal have DXD rewards of 36.4 and 39.7 respectively, but I think those should be 22.94 for each of those periods ($12,000 DXD in compensation, priced at an ATH of $523 = 22.94 DXD).
And then in August, your sheet has 12.2 DXD reward, but I think that should be 8.03 DXD, using $4200 DXD comp with $523 price.
The numbers in the Contributor UX spreadsheet should line up with what was in your proposals. Let me know if there are discrepancies or any corrections that need to be made.
Hey @KadenZipfel we discussed this yesterday’s Governance discussion. Since there are others in a similar situation (including myself), we were thinking of a solution that would be easy for all contributors with accrued DXD.
The consensus on the call was to shift DXD vesting over to xDai. While there were some concerns on xDai’s future, recent moves by the xDai team - specifically the plan to fork ETH2.0 and create their own beacon chain - make me confident of xDai’s longevity. We could also build contingency plans.
Using xDai would solve all of the cost problems and also make it easy to use separate vesting contracts. The gov_dev team is exploring how to do the DXD vesting awards in batches, so there would be minimal work need to be done by contributors.
Would you do your DXD vesting on xDai?
Even deploying the vesting contract on mainnet will be $500+ and a proposal itself is costing around $1000 to submit, boost, vote, execute, etc (90% of which is reimbursed by DXdao), so there are clear cost savings.
Contributor UX and Gov_dev are working on an vesting DXD signal proposal that would outline the specific numbers and then would be implemented by gov_dev team.