Title: Reduce recurring payouts
Author: aeolian
Date: 2022-05-20
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Thesis:
Reduce all recurring payouts by 20%.
Abstract:
Increase runway of Juicebox DAO by 10 months by reducing the payout amount for all recurring payout recipients (individuals and groups) by 20%. Trial payouts are excluded from the reduction.
Motivation:
Due to increasing expenses, low revenue, market conditions and JBX redemptions of treasury funds, Juicebox DAO’s runway has dramatically decreased. On April 29, 2022, Juicebox DAO’s runway was 50 months. As of May 20, 2022 (3 weeks later), it is approximately 31 months. This is a very conservative figure; it doesn’t include one-time payouts or trial payouts. By some estimates, our runway may be closer to 22 months.
As JBX holders, we have a responsibility to ourselves, Juicebox DAO contributors, and all Juicebox projects to be disciplined with our spending and maximize longevity of the Juicebox protocol. We need to give ourselves the best chance of finding product-market-fit and reliable revenue. To do that, we need more time.
Risks:
- Contributors are less incentivized to provide value to Juicebox DAO.
- Contributors leave Juicebox DAO.
Specification:
- Update the payout list to match Table 1.
- Any active proposals in this governance cycle that modify any existing payout/s may overrule this proposal.
Table 1
| Recipient | Amount | Address/Juicebox Project | |
|---|---|---|---|
| Peel | $ 36,800.00 | @peel | |
| Jango | $ 16,800.00 | jango.eth | |
| Gorilla | $ 14,800.00 | drgorilla.eth | |
| Tankbottoms | $ 12,800.00 | tankbottoms.eth | |
| Givewell | $ 8,000.00 | 0x7cF2eBb5Ca55A8bd671A020F8BDbAF07f60F26C1 | |
| wagmi | $ 7,360.00 | @wagmistudios | |
| filipv | $ 6,400.00 | filipv.eth | |
| canudao | $ 6,400.00 | @canudaocomm | |
| lexicondevils | $ 5,280.00 | @lexicondevils | |
| 0xstvg | $ 4,000.00 | 0xstvg.eth | |
| twodam | $ 3,600.00 | twodam.eth | |
| viraz | $ 2,400.00 | viraz.eth | |
| zombae | $ 2,400.00 | zom-bae.eth | |
| Felixander | $ 1,600.00 | 0xA8488938161c9Afa127E93Fef6d3447051588664 | |
| gulan | $ 1,600.00 | gulan.eth | |
| zhape | $1,200.00 | zhape.eth | |
| zotico | $ 640.00 | 0x6212ce06Dcac01706e6Be5310C3228ede1A02ADf |
Rationale:
- A 20% reduction extends our runway by ~8 months. While somewhat arbitrary, this feels like a reasonable compromise.
- Juicebox contributors are generally highly-paid, often above market rate. This mostly remains true even after a 20% reduction.
Please inspect this spreadsheet for full cashflow projections: https://docs.google.com/spreadsheets/d/19zo6xp06VZRyZ8eJpGkU3fHcFibYYTIF-HDxioGRIos/edit?usp=sharing
Timeline:
The new payout schedule would take affect immediately in FC#23.
Copyright Disclaimer:
Copyright and related rights waived via CC0.