We voted for this proposal as @SEEDGov brings highly relevant experience for such a role and has already demonstrated their contributions in revitalising the DAO under its guidance. Avantgarde provided significant feedback to this proposal that was met with a cooperative attitude and we’re happy to see stronger incentive alignment. While the 6-month review provides some nice manoeuvrability for the DAO, we have full faith in SEEDGov’s leadership and capacity to execute this mandate productively and successfully.
Thank you @SEEDGov for the proposal.
As we’ve said many times now we’re very happy to have you lead the DAO as your team has always been a pleasure to work with, and we think the DAO has made significant progress over the last 6 months or so under your guidance.
We’ve provided significant feedback to this proposal already, but will for transparency’s sake reiterate the most important points of said feedback:
We asked for the initial sum (160k) to be split up into a base fee and a performance-tied fee and provided a number of potential solutions.
Further asked for the bonus-related thresholds to be lowered, as we felt that there wasn’t enough to incentivise growth as targets were already being hit under current revenue (similar to what @Mehdi is arguing above).
It’s worth acknowledging that current 12-month trailing revenue figures were significantly boosted under last quarter, and it’s too early to say where the protocol’s new “floor” is. The protocol’s revenue trend is seemingly pointing upwards, but it could also go back down to past trend figures (and thus lower the bonus payout).
While we do feel the rev share still looks slightly on the higher side in relation to the 60k cap, again it’s important to recognise how volatile and unpredictable protocol revenue is at this point in time. Additionally, the rate is clearly at a discount compared to other similar, US-anchored payouts, so all in all we feel that it’s a good deal—though we would be willing to up the cap if the % share was lowered to incentivise further growth.
One addition might be to add a threshold on the lower end, that is, if revenue goes below say 2m, the bonus is withheld.
All in all, we’re more bullish on the DAO and protocol with @SEEDGov by our side.