3-pronged structure - Base Salary + In-House Bonuses + Vesting Tokens
We care about worklife balance and taking time for yourself so we see this as giving you 20% time completely off. You can work 4 day weeks and thats fine with us, and thats why base salary is below market as well. So we have lower base salary pay and you can choose other compensation from 2 other models layered on top.
Equity makes you incentive aligned with Debt DAO in the long term and gives you a huge pay out for our success. This is obviously a key component of our compensation program as it also helps us decentralize the token holders.
Bonuses effectively compensating you for 20%-time projects if you choose to work extra hours. These are larger projects that are intended to be completed as teams with other people inside the DAO. It’s similar to a normal DAO grants program except only available to those inside the DAO to start new initiatives. This is part of our self-organizing management strategy and allows the DAO to effectively grow with little overhead.
Salary
- based on role, experience level, cost of living, etc.
- Below market rate but compensated by bonuses and tokens
- We have spaced out tiers because at a tiny startup we don’t want average. We want great experienced veterans that can lead the organization or inexperienced youngins that want to learn and prove themselves while still taking care of chores.
Salary per experience level (USD):
- 60-80k for junior devs, designers, analysts, etc.
- 100-150k for senior frontend, senior designer, mid backend, mid analyst
- 200-300k senior backend, senior data scientist
Pay raise based on:
- Difference between intra and inter level raise
- intra-level - evaluation between raw output + business value + cultural value. Team survey/feedback. Coordinape scores relative to others (if consistently getting less, then u should be losing pay akshually)
- inter-level raise - Leading a Product Bounty on tech or finance. Bespoke challenge created by team members appropriate to their role on the team, project, inside jokes, etc.
- Adherence to Debt DAO values?
- Learning new tools/protocols and teaching to others
- Contributing to open source code (including ours but also consider others)
In-house bounties
- Effectively compensating you for 20%-time projects if you choose to work extra hours. If you dont want to work on these bounties you can take that time off for fam or whatever but your pay will be less.
- Ideally completed with other team members. Maybe making bounty squad to tackle some together faster
- Allow you to explore crypto and try new things while also being constructive for Debt DAO
- Facilitates promoting internally by self-selecting leadership positions through entirely meritocratic process with no politics/admin/favoritism. Want to be the lead on Pools team? Go fucking build it and its yours.
- We dont have OKRs or watevs but these drive money and vibes our way.
- Payout between team members split by coordinape, sized by product manager tbc
Bonuses levels:
- $20-50k
- Creating new financial tools/products e.g. Spigot, BLAST, LoC, CREDIT
- $20m+ deal/lender
- God Tier 2 video/animated meme or 2 dope art pieces or 10 God Tier static memes
- $5-20k
- Integrate Pools or LoC into other UI or protocols e.g. Yearn strategies, Instadapp wallet manager, self-hosted line pages, etc.
- $2m+ deal/lender
- God Tier video/animated meme or 10 God Tier static memes or 2 dope art pieces
Tokens
- No idea what tokenomics will be yet. Focused on product, hiring, etc. right now
- Token is same way Founders and VCs are compensated
- Case by case basis decided by your preference of salary/token mix
- salary → token conversion rate
- We let you buy in at same price as VCs.
- Current Valuation = $50m with 4 year vest
- 0.1% = $50,000 / 4 = $12,500 / year
- so 0.05-0.1% or approx $25-$50k per year in tokens at current valuation
Vibecheck / Onboarding Period
For complete anons who don’t have any previous work experience with anyone on team, can’t see github, reference check you, etc. etc.
They will earn 50% pay for the first two months. During 3 month vibecheck/onboarding period for both sides. Agree beforehand on what ur full time pay would be and are doing an initial vibe check.
The retained 1 month worth. of pay is returned in lump sum at the end of the vibecheck period.
Reason: Been burned before by other contributors who promised full time, took money, then didn’t do work and left after or were bad matches and hard to remove after the full time agreement
