I can’t just lurk anymore, because this conversation is following a pattern I see at all the protocols I hang out at. Someone who is a trusted community member comes with a proposal (and maybe it’s not perfect!) and then get told they’re not worth paying. People need a sanity check here.
How can people even say this? Didn’t these folks literally just get one of the biggest DAOs to agree to provide unlimited liquidity to the Dai market? How many tens of millions will that one item save Compound now that there will be a depositor who won’t remove a single coin when liquidity mining is turned off?
See what I wrote above. There’s ways to cut costs that we’re all eager to do cough Comp rewards cough. And look at who just worked at another protocol to bring liquidity that was 1) going to our main competitor for months now, and 2) is managed based on interest rates inclusive of rewards so that the amount Maker provides is actually lower with rewards!
We would be brain dead not to phase out rewards on Dai deposits once this goes live.
In the traditional world, there would be a contract that would protect the contractor, too. Compound lives in a world where Justin Sun can borrow 100,000 Comp, send it to Binance to obscure it, and make some proposal to do god-knows-what to the protocol. What is to stop rando billionaires from cutting off any payment to Gauntlet or OZ or GFX or some other company providing services? There’s no job security here. If we don’t want to pay a lot for services, we need to escrow the money with a third party who can be bound legally not to pull the rug.
Isn’t Gauntlet asking $1.9 million in exchange for just repeatedly saying “allow more leverage” and then collecting a fee based on hypothetical increases in borrowing? Don’t throw stones. Especially when you seem to add risk to other protocols you work on.
So let’s move beyond the question of pay – $5 million base pay is cheap and already paid for by work they did for free before proposing this big giant menu of stuff. This clear KPI thing is the real problem. Let’s get @franklin-pantera and the other VCs to each put a person in a room, lock the door, and let them out when they have a list of 5-10 things they want to see done in the next 12 to 24 months. Slide a pizza under the door if it takes a while.
Think there’s actually an army of people ready to do those KPIs? Do like with auditing and ask for competing bids.
I’m just a humble farmer and don’t know what Compound needs to make token holders like me lots of money, but you gigabrains go figure it out and then tell GFX and Tyler and ar00 and anyone else willing to roll up their sleeves to go do it. There’s a shortage of people willing and able to work here. Stop acting like we can’t pay a premium if anyone comes in here and delivers more than they cost. Know what? It’s not like we can’t kick them to the curb with a simple vote if it’s not working in a couple months.