(responding as an individual w my own limited perspective… none of this is financial advice)
Appreciate you asking critical questions Carlos!
Im happy to report that Gitcoin has gone from $1.1m/mo in burn to ~ $400k/mo in burn over the last year or so.
The 3m GTC being requested here, vested over 4 years = an additional burn of 62.5k GTC/mo. Adding this to the existing $400k/mo in burn, the burn would be around $450k/mo now. Which is less than half of the previous burn.
Still far from financial sustainability… though we are seeing some promising signs of protocol adoption, which is a first building block imo.
Id say Gitcoin is between stages 2 and 3 rn…
This is a screencap from a recent token vote right? Not a vote on this proposal?
FWIW, Rena, Kyle, myself do not receive any tokens from this program. Also Rena works for the foundation. I work for WEST (though am part of Grants Lab now too), and Kyle is part of the now-spunout Passportxyz.
The conflict of interest policy in the gov manual states that ppl may not vote for proposals that have upside for themselves, so I would expect that anyone receiving tokens here will have to abide by that.
Thats not to say that we should be proud of the composition of governance delegations as they stand now. I think there is a lot of room for improvement here.
On the other hand… I will say that upon DAO launch we had a radically good distribution of votes to community and that did not yield much success in market 2021-2023. So we will need to get some upward momentum in market + on the back of that, attempt to progressively decentralize votes again.
I worry that a proposal like this would not make Grants Lab competitive in talent market vs other organizations who may be hiring. I think that ppl do have day to day expenses and its valid that some amount of base salary is paid to cover that. Health insurance, kids tuition, electricity bills, etc. Above and beyond that, I would like to see more alignment with Gitcoin through holding GTC.
IMO the most important thing to do to push against this risk is to accelerate through stages 2/3/4 here.
Once Allo protocol is well adopted, there will be opportunities to reach financial sustainability.
We want to go from a downards spiral to an upward spiral.
