#Reduce Council pay by 25% -ICCP-DRAFT

1 messages · Page 1 of 1 (latest)

grave rune
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Simple Summary

Reduce council pay by 25% to $3750/month.

Abstract

The community continues to raise concerns around the clarity of the Illuvinati council's role in Governance V1. In addition, as other means of ensuring DAO runway are being considered and broader economic conditions continue to be uncertain, it is appropriate to evaluate a revision of the council compensation. Additionally, if any future financial sacrifices prove necessary during this epoch, the Illuvinati council believes they should start with themselves first.

Change "Council Payment Section" in IIP 12 from:

Each council member shall receive a $5000 USD equivalent payment per month in the form of $ILV tokens.

To:

Each council member shall receive a $3750 USD equivalent payment per month in the form of $ILV tokens.

Change "Change Council pay Section" in IIP 25 from:

5000$ USD per month paid in $ILV

To:

3750$ USD per month paid in $ILV

Determination of payment would continue to follow IIP-25, as the only things changing in this ICCP are the amounts of payment.

Retroactive to the Beginning of Term

As this ICCP is being prepared to offer to council at the beginning of their term (Epoch 7), if passed, this ICCP shall be considered retroactive, following the compensation details outlined here from the start of their service to the DAO, with an intended 6-month term.

Rationale

It is imperative that the DAO continually evaluate the compensation of council members to ensure alignment of expectations and compensation to attract the best talent to lead the DAO, while ensuring funds are used appropriately.

  • most of text taken from earlier idea "Idea - Council Pay Reduction + Restructure" simplified to just a pay reduction and increased that reduction.
grave rune
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Reduce Council pay by 25% -ICCP-DRAFT

grave rune
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I like the ideas in #1052029358795141160 I but I think pay reduction could be separated out from restructure to have a cleaner discussion.

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I also think it’s admirable for the council to bring up pay reduction at all. It’s rare to see.

fallen totem
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I’m against this. Minor adjustment in council pay don’t impact the treasury meaningfully.
This council has already been far more active than previous councils and I don’t think we should be reducing the pay for what is quickly becoming the most productive council to date.

grave rune
fallen totem
grave rune
fallen totem
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I mean we're talking about saving less than 1500 ILV over the next year.
Im of the opinion that if people think the council isnt doing enough to earn their pay they should vote for better council members. If we want quality candidates to run for council it helps to offer quality compensation.

grave rune
# fallen totem I mean we're talking about saving less than 1500 ILV over the next year. Im of...

I agree we should compensate the council well and it should be competitive with even Fortune 500 board members ($304,856/yr) eventually. But while we are still running on runway and having discussions on extending runway a lower amount equal to the median compensation for members of private company boards of directors ($44,850/yr - 3737.5/month) makes sense to me.

What are your thoughts on the v2 proposal of $3000/month for main council?

grave rune
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Added: retroactive section from original idea.

scenic coyote
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I agree with 25% reduction

As the contribution of council members are hard to account for, and the variable contribution since the start is highly questionable, the variable inputs and average performance and contributions overall, being highly variable with some not so great contributions in its history

A 25% cut is warranted

Pay justification should only factor one thing = performance in contribution to illuvium

Performance of council members in contribution to illuvium, is the only thing that actually matters, council members should freely welcome pay cuts, and not worry about money at all, if their performance is good, they will naturally receive a higher pay, if performance of contribution isn’t high standard, they naturally receive their worth in terms of performance, any honest, hard working contributing person should be happy to receive compensation according to their performance

Arguable the most recent council members, are much better and more contributive, this is a great thing in and of itself, naturally as pay is reflected by performance, it can naturally rise back to 100% as it all comes down to performance

primal glacier
grave rune
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@rustic flax @hasty juniper @small stump @twin sage @latent mica @light bronze @chrome trellis @stiff basin @tawny siren You all were in favor of the previous idea from Blickter for changes to council pay. I would love your thumbs up/down or ideas on this simplified version. Thanks 🙂

hasty juniper
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I could be feeding ducks at the park part time if I'd get 5k/month

grave rune
hasty juniper
rustic flax
grave rune
grave rune
chrome trellis
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Whatever way it is, whether outright or deferred I’m fine with it as council themselves have partially agreed they might be overcompensated as requirements stand. Granted in half a year or so that will hopefully/likely change.

rustic flax
grave rune
grave rune
grave rune
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Some final thoughts before I put this to rest for the time being, perhaps it’s the holidays or overworld but a lot less activity in here then I expected with how this topic has been debated in the past.

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If this or any council pay reduction proposal was to pass it would really show some amazing values and set a very clear precedent, that the council values the input from the community above its own personal gain and is willing to take a pay cut “be the first to sacrifice” for the good of the DAO

storm glade
jovial dagger
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It could be made explicit, but determination of payment would be per IIP-25, as the only things changing in this ICCP are the amounts of payment.

grave rune
storm glade
grave rune
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👀