Clarify the different ways Index Coop members can be compensated. Introduce INDEX denominated rewards for Working Group Leads and their core contributors.
There are many different contribution schemes currently being used at the Index Coop. There are:
- Full time contributors
- Monthly contributors awarded by Treasury Committee
- Working group leaders with stipends
- Contributors paid by various working group programs
When new members join the Coop, or veteran contributors seek to deepen their commitments to the Coop it’s not clear what paths are available to them.
This post clarifies the existing contribution options and adds INDEX denominated rewards for Working Group Leads and their core contributors.
Compensation: Salary + Vesting Tied to Token Supply
Example: 5,000 USD per month + 0.15% of token supply over 2 years
Much has been written about what is expected of Full Time contributors. Suffice to say, this role represents the members most committed & filling the highest leverage needs of the Coop. The number of Full Time contributors to the Index Coop will increase in the near future, but capacity will be limited.
Commitment: Narrow, must deliver for their working group first
Compensation: USD Salary or INDEX Salary tied to an initial 20 MA Price
Example: 7,000 USD per month or 150 INDEX per month for 3 months (e.g. 7,000 USD tied to May 1st 20MA Index Price)
Working group leads & their core contributors manage the bulk of day-to-day operations for the Coop. Each working group lead and core contributor should have ownership over a material portion of Index Coop operations. They can be sole contributors or leaders of their own band of contributors. Working groups are expected to set OKRs and measure their groups performance against those goals on a regular basis. Working Group Leaders & their Core Contributors are directly responsible to the Coop community for the results of their Working Groups and are expected to exhibit a high degree of ownership. These Working Group duties should be met before contributing to other parts of the Coop.
Commitment: Flexible, may contribute across working groups
Compensation: Variable, Tied to Monthly 20MA INDEX Price
Example: Payment by GWG for Impression Mining, by CDWG for Design Work
Most contributors to the Index Coop currently sit in this tier. One major change we would like to move towards is compensation being subject to the discretion of the different working groups that members choose to be a part of. A more detailed post breaking down reasons & a proposed next steps for that change will be posted shortly.
A monthly contributor does not necessarily earn less than working group leads, or even full time contributors. Extremely effective monthly contributors should be rewarded in proportion to the results they drive to the Coop. Monthly contributors have the freedom to participate in several different working groups ad-hoc.
The Treasury Committee will begin evaluating all new working group proposals with the above guidelines in mind.