Hiring - Head of Smart Contracts

Today we are kicking off hiring for Head of Smart Contracts, using the Index Coop Hiring Guidelines v1 to determine the format. Thanks to @gregdocter for laying the groundwork for the hiring process. We hope to build on the process to hire some great engineering talent.

Need: Head of Smart Contracts

Hiring Manager: @Cavalier_Eth

Hiring Team: @DarkForestCapital , @dylan , @edwardk

Why?

  • The Index Coop’s goal is to become the Blackrock of crypto and to do that we need to build, launch and maintain a growing range of products
  • Much of the smart contract heavy lifting is currently done by Set, and we would like to develop the Coop’s capability further
  • The engineering team is currently small and lacks the bandwidth to launch and maintain the growing pipeline of products
  • Using the current skills matrix, the skillsets of the team are skewed towards web2/front end, whilst the range of products we want to launch require extensive smart contract experience
  • High on EWG’s list of priorities are internal tools to improve rebalancing and payouts, both of which also require advanced SC capabilities
  • To continue to improve the capability of the EWG, we need the capacity to train other engineers to become proficient with smart contracts and the Set protocol
  • By making this position full time, we align the goals of the Coop and the contributor

Compensation:

  • Full-time precedent was set by the first cohort @ $5k/m and 0.15% of token supply over 2 years. Hiring Guidelines has since revised the starting point as Fulltime Standard Technical: $10,000/month, with INDEX vesting: 0.10% of total supply over 2 years, with a 6-month cliff

  • [EDIT]: We have provided a wide range of compensation on the public job listings ($190K – $310K), so that salary range is not a blocker. Any offer that is made will be related to market, and appropriate for the final candidate.

  • We are looking to hire the best person for the role, and are open to negotiation in an attempt to secure them. Hiring the Head of Analytics was an example of meeting the market for the right talent.

  • Noting in @gregdocter words: We earn our people: We believe the best people are recruited (internally & externally), not bought.

Scorecard:

The scorecard details how this role will contribute to the success of the Index Coop, and the core competencies a successful candidate is expected to demonstrate. Head of Smart Contract Eng. Scorecard

Hiring process additions

  • Building on the Hiring Process “Focussed Interviews”, we suggest that late-stage candidate(s) complete a task for $PAY or $DATA products or an existing adapter quest
  • All SC work completed during the recruitment process will be eligible for coop contributor rewards (Whether successfully hired or not)
  • The hiring process will be fleshed out in more detail in the coming days, with input from Set

Requests

  • Up to $3,000 budget to spend on job ad promotion like job boards or newsletters. (Top few crypto jobs boards are about $1,000 combined)
  • Referral bonus of up to $7,000 for successful candidates nominated by Index Coop contributor, payable after three months of the Head of Smart Contract being in the role.

External process

  • The public job ad can be found here
  • We will advertise the position on Ethernaut DAO
  • Short video content about the role and the coop will be put together and used to more fully convey the great opportunity that is this role
  • The hiring manager and team will do targeted reach out to potential candidates

Next Steps

  • Potential applicants should fill out an application form
  • A public job description will be prepared
  • Applications will be open for at least 14 days after this post, and applicants will be reviewed as they come in
  • The hiring team will review applications against the scorecard
  • Applicants may be asked to interview
  • It’s expected that we may find some gaps in the process, any improvements will be noted and shared to iterate for the next round
20 Likes

It’s great to see this coming into view. I have seen how much thought and hard work has gone into designing this process. Well done all and looking forward to seeing how you advance this vital initiative in the Coop.

10 Likes

Most of your would not have spoken with me yet, as it’s been a process of rapid immersion at Index. Outside of turning my casual bitcoin interest into a defi obsession over the past few years, I’ve spent most of my time starting and growing startups. Previous roles includes cofounder, product lead, and chief of staff.

Many of the growing pains of the coop resonate with me, having built product teams from the ground up, reorganised product squads, and even filled a VP Engineering role with a Googler.

I’m fascinated by building teams who build products, as it’s literally creating the future. It’s a pleasure to be here, and I’ll be focussed on getting the HoSC role filled so we can continue to bolster the coops capacity.

8 Likes

This is desperately needed at Index Coop and I am super excited to see Index Coop building out its own engineering team.

8 Likes

Edits:

  • Public job ad has been completed, and will be shared on public channels, including paid boards
  • Added, “All SC work completed during the recruitment process will be eligible for coop contributor rewards (Whether successfully hired or not)”
6 Likes

Update 2nd Aug:

  • 15 applicants so far (featured job ads have gone live in last few hours)
  • We have provided a wide range of compensation on the public job listings ($190K – $310K), so that salary range is not a blocker. Any offer that is made will be related to market, and appropriate for the final candidate.

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3 Likes