Context
This is a revised snapshot proposal to determine the final % of governance tokens allocated to the team for Phase 1 work, and to agree on a final plan for governance token allocation based on many meetings with the community.
The only difference between this proposal and MDP-13 is the vesting schedule of the tokens. See the Vesting section for more details.
Phase 1 is defined as the work involved in going from 0 to 1 with MoonDAO. Creating the vision, goals, mission, values, marketing the project, putting up the juicebox raise and launching the token to our eventual $8.3 million dollar raise from the community. This pay period is between November 24th, 2021 and January 17th 2022.
Throughout MoonDAO, no one on the team has taken a payment so far. The founding team did not take a pre-token allocation, and we have been coming up with a fair proposal such that everyone who did work during the Phase 1 period can receive $MOONEY for their efforts.
Methodology for Compensation
In MDP-2 we put up a Snapshot vote to get a distribution of what the community feels is the appropriate amount to distribute to the people who worked in that pay period. The vote was to determine the % of $MOONEY in our treasury that will be distributed to people, the results were as follows:
Mean: 12.230%, 160,087,373 $MOONEY Mean-Median Average: 8.615%, 112,768,007 $MOONEY Median: 5.000%, 65,448,640 $MOONEY
We will vote between these three options using token weighting.
We have also set up a Coordinape with all the active Phase 1 contributors, where each contributor for that pay period had tokens they could gift out to others, the distribution is included here:
Vesting
On May 1st 20% of the tokens will vest immediately, then the rest will vest equally on the first of every month until November. In other words the vesting schedule will look like this:
May 1st: 20.000% June 1st: 13.333% July 1st: 13.333% August 1st: 13.333% September 1st: 13.333% October 1st: 13.333% November 1st: 13.335%
Note that November 1st has slightly more to make the total sum equal to 100% of the tokens.
Stable Token Split
We will allow contributors to take 25% of their governance tokens in Dai rather than $MOONEY, with a total of up to $10,000.
With a default value of 0% tokens in stables unless we are notified otherwise.
$MOONEY to Dai conversion will be priced on a seven day trailing average from the point at which it is dispersed.
Voting Options
We will use a token weighted average between the three statistics from MDP-2. In other words if 50% of the tokens are at 5%, and 50% were at 10% then the result would be 7.5%.
You may also chose to vote "No" which means you do not agree to pay the members using this methodology. If "No" votes are over 50% then we will delay governance token allocations and use a different methodology.