Hello @Babylonode, @Wenneson, @Jimbo_JCR.one, @easynode and @Maffaz -
You guys have been incredibly patient with me and I appreciate it. Part of the delay in responding to your request was finding the balance between what you were asking for and what would show transparency and fairness based on the expectations of public accountability.
I went back and forth on this for a while trying to figure out the best and most rational outcome for the VDAO Term 1 governors. This is what I have decided based on the feedback with the rest of the DAO Funding team.
(a) We will be providing an additional grant to the multisig address of the ValidatorDAO to finance compensation for work done in the months of June, July and August.
(b) The compensation will be in ONE tokens. The number of tokens is a product of: (i) hours worked, (ii) value of the token on the day an acceptable timesheet was submitted.
For example: Let us say that I worked 10 hours in June. The time sheet I submitted in September was not acceptable as it was not transparent. On the day I submitted this incomplete timesheet, the token price was at $0.05. I revised my time sheet in October. On the day I revised my timesheet in October to provide adequate reporting of the work I have done, the token value was $0.15.
As a result, my compensation will be: (10 Hours)x($75 per hour) = $750. $750/$0.15 = 5,000 ONEs
(c) Based on the information in this Public Timesheet I have made the following determinations:
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@Babylonode first submitted his timesheet on 9.17.21. It was incomplete. It was completed on 12.23.21. On December 23rd, based on CoinGecko, the token price started at $0.23 and ended the day at $0.25 yielding an average price that day of $0.24. Babylonode submitted for 100 hours. At $75 an hour, he was due compensation of $7,500 or - at the valuation at that time, 31,250 ONE Tokens.
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Mars Initiative first submitted his timesheet on 9.15.21. It was incomplete. It hasn’t been completed. No compensation can be offered for an incomplete timesheet.
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@Jimbo_JCR.one first submitted his timesheet on 9.20.21. His timesheet was complete. On September 20th, based on CoinGecko, the token price started at $0.14 and ended the day at $0.12 yielding an average price that day of $0.13. Jimbo submitted for 120 hours. At $75 an hour, he was due compensation of $9,000 or - at the valuation at that time, 69,230.77 ONE Tokens.
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@easynode first submitted his timesheet on 9.15.21. It was incomplete. It was completed on 11.9.21. On November 9th, based on CoinGecko, the token price started at $0.31 and ended the day at $0.30 yielding an average price that day of $0.305. Patrick submitted for 120 hours. At $75 an hour, he was due compensation of $9,000 or - at the valuation at that time, 29,508.20 ONE Tokens.
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@Maffaz first submitted his timesheet on 9.14.21. It was incomplete. It was completed on 11.3.21. On November 3rd, based on CoinGecko, the token price started at $0.29 and ended the day at $0.29 yielding an average price that day of $0.29. At $75 an hour, he was due compensation of $9,000 or - at the valuation at that time, 31,034.48 ONE Tokens.
Based on this analysis, I will be requesting that @lij deposit 161,023.45 ONE Tokens into the ValidatorDAO multisig wallet to be disbursed as the Validator Community sees fit.
Here is a quick table for ease of review:
I believe this resolves the question of the VDAO Term 1 Governors compensation. Again, I appreciate the patience while we sort through the early stages of building and operating DAOs.
Best,
Sam