Not sure 7k for Twitter manager and 9k for the guy who created this entire thing makes a lot of sense, but I agree going forward there should be official compensation for those who have been key in getting this off the ground. Numbers might need a little tweaking is all
3 Likes
Seeing that I don’t have a day-job either and didn’t make much profits trading, I also would apply for the role of community mgr as I’ve got the technical knowledge, have been answering ppls questions/issues for a while now (mostly bc I idle in those channels anyways), helped out where I could generally, experience as mentor/supervisor for AOL (that kinda dates me doesnt it), speak three languages so I could also do the german and spanish channel and oh i’d accept 3k/month instead of 3.5k/month.
While nothing of what I said is a lie, I don't really feel this is the right place/format for this kinda stuff....
4 Likes
Banteg deserves pay as a dev imo.
1 Like
Second this. I think salaries for devs and marketing should be higher.
3 Likes
Agree it seems a bit out of proportion to pay 7k for making tweets and memes when the person that basically created this from ground up gets 9k…
It also raises one other important question, if this is reward for the past (as you said getting things off the ground) then isn’t a lump sump more appropriate than a future position? I’m especially thinking about kirby (sorry not personal) bc since I guess that his tweets have made people, well in the best case drop their money in yearn, in the worst case chuckle, how much value is in that going in the future? And then one might also open up the discussion about skills required or a ‘could I do this’ when calculating payments and there I see a huge gap between this job and andre’s (or probably any dev)
2 Likes
Well, lump sum is no good because we want to retain these guys for the future. IMO devs that have proven themselves grinding away at building out critical features and value adds (and will be doing so going forward) should be paid… a lot. Might be worth considering adding additional devs (@banteg ?) for full time here if their work falls in this category. Might also help with burnout and product delivery time to have some extra hands. Just my 2 cents
I’m on the list as Artem. I agree every person on the list deserves a few mil bonus for the amount of experience and passion they’ve contributed to the project and the amount of value they’ve provided for YFI. Seeing this firsthand is incredible, we’ve been shipping like crazy these past weeks.
The compensations have been flattened out vs the draft budget. I think it’s a good move since every person on the list is far more experienced than these numbers imply (including Blue Kirby who is a brilliant marketer). These salaried positions symbolize our commitment, and I think it’s an important step towards building a sustainable system.
18 Likes
Can we add you to the salary list?
I’m surprised you’re not there.
Edit: I just realized you’re Artem.
2 Likes
That’s for sure and I didn’t mean lump sump exclusively, also I don’t know shit about marketing and seeing every other persons comment I guess Kirby’s 7k is appropriate… I mean ‘few understand’ has become a catchphrase, so there’s that.
2 Likes
Nice idea.
I have some questions / remarks.
Do you have a given budget ? Do you have 46k you want to split between people ?
if it’s the case i think an other repartition should occurs.
Nothing against Blue Kirby, don’t make me wrong.
But 7k seems very hight. Comm is done by the community and a lot of super useful infos, leak … can be found on twitter. Some people are just amazing and are not on the list. Also a lot of people are writing articles in different languages to spread YFI around the world. So except if the community voted for an official “ambassador” this think this salary is too high. Is there a rate $ per tweet ?
Imo we should reward a dev-doc/op more than comm. Or reward all people doing nice thinks for the community .Like a DAO maker (social mining).
Exactly like we did for the Vault. If you develop a nice strategy you have a reward for this ! and that’s an amazing system.
Would be great to figure out a way to create a YFI bonus pool for these individuals - maybe paid out of staked governance tokens? They’re creating so much value for all of us who are not actively involved.
Marketing and business development are two underappreciated skills in cryptoland but super important.
I’d actually like to see a BD / Partnerships role added to this list in time. $YFI could integrate with broader crypto ecosystem (wallets, layer 2s, privacy). Also, potential to become a bridge from Cefi to Defi need solid BD strategy to do this.
1 Like
That. Last thing you said…
1 Like
Thank you all for the support. And I really appreciate the thoughtful discussion too.
As many have pointed out, these numbers do not match market. IMO that’s the not the most important thing at the moment. Getting this machine moving forward on an increasingly stable operations platform and onboarding the most talented folks is the priority.
Everyone on this list is underpaid, and that’s 100% fine at this early and dynamic stage. The titles are pretty informal and evolving too—we’re all wearing a million hats and doing whatever needs to get done.
Re the salary differentiation, yes it’s quite flat as @banteg points out. For the record, I in absolutely no way believe my contributions to be anywhere close to a 7:9 ratio with Andre’s…
We as a community have a lot of work to do to figure out what compensation should look like for us. It’s not as simple as bumping Andre’s salary—he doesn’t even want a salary. We are going to do things differently here, that’s how yearn has been from the start. So how do we do it? What about all the people who have been giving their time to post on twitter, write docs, do design work, develop the codebase, suggest governance improvements?
This is one of the things that excites me the most, actually. As DeFi has the opportunity to reshape global finance, DeGov has the opportunity to reshape compensation and personal finance. Most of the traditional barriers to this kind of social experimentation aren’t present, so the sky’s the limit on innovation here.
16 Likes
In favour of this but do feel it needs tweaking
Maybe I’m a boomer but feel like Andre and the coders need paying more, and Kirby less?
I’d also be comfortable paying the likes of Andre/Bantegg/Klim, who have worked from Day0/1 on this, a set amount in YFI for the work done so far. They risked a lot by committing from the beginning and that could be recognized.
But 7k a month is a stonking huge amount for a twitter account which occasionally has some strange takes / poor grammar. That money could easily instead fund translations every month of docs/sites into the major languages. 1k for Mandarin, 1k for Arabic etc - you’d be able to find people easily happy to accept that.
Or at least can we see what else kirbz does? Maybe he runs a few accounts / youtube that I’m unaware of. I know there’s the docs site too. But still feel’s that’s not enough, would take couple hours a day
Maybe I should get into the twitter game tho…
3 Likes
Agree completely but we need marketing and as several people pointed out he’s a great marketer. So yeah if the idea is to pay 7k / month for a couple of tweets and some jokes, I’m with you.
But what if he could get non-crypto people into our stable and ‘risk-free’ investments due to his particular marketing skillset?
Then 7k would be a steal.
3 Likes
I must vote for.thank u everybody ,we are strong family.
Off course we should reward people who support the product. However getting paid also makes somebody accountable. Which means we need to setup profiles with responsibilities and targets. The community should be able to monitor the contribution and pay them well. Paying in YFI seems to wise choice.
I think we should vote for each role independently. It would be positive if these people could introduce the community how they are going to execute their future roles.
I we are just going to send money around to everybody YFI will fail quickly. Lets formalize this in a decent way. It will make of the governance of FYI an example for DEFI. FYI will only grow more in power.
I can get behind paying them, they deserve it for the valued added.
The numbers should be revised though, paying around the same amount to everyone for different roles doesn’t make sense, plus Andre should get a higher reward in % than the rest imo.
1 Like