Background and Motivation
This proposal is a follow-up on Facilitating the Prime Strategic Round to align with strategic partners and positions.
PrimeDAO is progressively decentralizing by growing its community, product line, and ecosystem. Over the past nine months, over 20 new contributors have been onboarded into PrimeDAO. To empower its new stakeholders and solidify their commitment to the D2D ecosystem, we propose a Contributor Incentive Program to reward and incentivize existing PrimeDAO contributors for the following years.
Program Outline
The Contributor Incentives will be split into two pathways, one path for individual contributors who are not aligned with one of the Builder Labs (15-20 people) and a second pathway for additional incentives for current Builder Labs.
Individual Contributor Incentives
The Individual Contributor Incentives will be distributed based on past contributions and future commitments. The Rewards have a cliff of 4 months, with a 2-year vest ending on October 1st, 2024. The exact amount per person will be confirmed by the Prime Stewards and allocated and managed by the DAOops squad of PrimeDAO.
| Stewards | 550,000 |
|---|---|
| Workstream Leads | 450,000 |
| Squad Leads | 350,000 |
| Contributors | 400,000 |
| TOTAL | 1,750,000 |
Options for Builder Groups
In addition to the Individual Contributor Rewards, a series of options will be created for long-term contributor labs to retain and attract talent toward PrimeDAO.
The options have a cliff of 4 months, with a 2-year vest ending on October 1st, 2024. The options can be purchased for 0.1 cents by the labs and their respective contributors. The Strike price of the options is yet to be defined, but is likely to be 30 cents per D2D token (based on the 30-day moving average D2D price fetched via CoinGecko on the day of submitting this proposal on the forum). The Prime Development Foundation will be responsible for issuing and maintaining the options.
| Curve Labs | 400,000 |
|---|---|
| Kolektivo Labs | 300,000 |
| Daoism Systems | 300,000 |
| TOTAL | 1,000,000 |
Reward Distribution and Management
Rewards are distributed through the PrimeDAO treasury using the Sablier Gnosis Safe App.
The DAOops Squad will manage the Individual Contributor Incentives with input from the Prime Stewards. The Steward Council can vote to pause or stop an Individual Contributor Vest (through a 60% relative majority vote) if a contributor fails to comply with the below requirements:
Stewards
- Must participate in at least 75% of the Steward activities.
Workstream Leads
- Must maintain their involvement by leading their workstreams (or a workstream with similar impact) until the vesting period.
Squad Leads
- Must maintain their involvement by leading their squad (or a squad with a similar impact) until the end of the vesting period.
Contributors
- Must contribute to PrimeDAO at least 0.25 FTE per development cycle to maintain their vest.
Impact
- This proposal would allow up to 2.75M D2D tokens to be vested to contributors of PrimeDAO for 2 years and 4 months. The proposal aims to create a more even playing field between the first generation (2020-2021) and new PrimeDAO contributors (2021-2022). All builders will be vested until October 1st, 2024.