Season 3 INV Grants for DAO Contributors

Inverse Finance DAO
1

Set up Season 3 INV Grants for DAO Contributors

Background

The system for allocating INV grants is currently being redesigned, with seasonal INV grants being set up. Please see Season 2’s INV grant proposal for more details. Vested INV grants are an important part of contributor compensation, creating increased alignment with the DAO via ownership.

INV Grant Implementation

As with the previous season’s grant, Season 3 grants will run for the length of the season (6 months), with a start date of November 1st, 2024. The grants will be cancellable, ensuring that they can be seamlessly replaced by the redesigned INV grant contracts if delivered during the season. A reduced xINV/year rate is being used compared with season 2, this is in order to stop dilution from grants exceeding a ~3% per annum rate:

Band xINV/year (season 2) xINV/year (season 3)
A 278 268.8
B 230 222.4

INV Grant Amounts

Using the current xINV:INV exchange rate of 7.829

Contributor WG Band FTE xINV/Year INV/Year INV/season
Patb GWG A 1.0 269 2,105 1,052
Alien PWG A 1.0 269 2,105 1,052
0xMT PWG A 1.0 269 2,105 1,052
Tabboz PWG B 1.0 222 1,741 870
Nour PWG A 1.0 269 2,105 1,052
Naoufel AWG B 1.0 222 1,741 870
Cryptoharry TWG A 1.0 269 2,105 1,052
Karm RWG B 1.0 222 1,741 870
Edo RWG B 1.0 222 1,741 870

With the following breakdown for each working group:

Working Group INV/Season
PWG 4,026
RWG 1,740
GWG 1,052
TWG 1,052
AWG 870
Total 8,740

On-Chain Actions

  • Approve 8740 INV to be spent by invGrantFactory contract
  • Deploy a cancellable INV grant contract of Y INV to contributor W, with a start date of November 1st 2024, and an end date of May 1st 2025
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At current INC price this is more than 100K per contributor, which on top of the salary gets to a total of around 270K on average roughly. Don’t recall the computation logic to get those amounts, but maybe it should take into account the current price of INV, I think it could have been reduced a bit. Especially since the bad debt is still not repaid and that certain group didn’t really attain their respective objective of the season 2.

This also has also a centralizing effect on INV distribution. (Also why it will probably pass as is, whatever the discussion).

Not against INV grant, as it is important to have skin in the game but it potentially could have been revised a bit.

Does the INV come from the treasury or are they newly minted INV?

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3

Could you please revisit the above comment and address the question? I am also curious about the exact source of this grant. However grants, salaries are both important but maintaining a balanced approach is a critical factor, too.

It feels somewhat concerning if only those receiving the compensation are determining its amount. In politics, this situation could be described by a single ten-letter word starting with “c” and ending with “n.”

Additionally, suggesting that I could vote too seems inadequate if there is the perception that one can generate unlimited voting power.

However could you at least while vesting put this in sINV? So that we could also profit?