I think the PGF team is the team that is most responsible for the success of Gitcoin. Fundraising is hard and getting groups to commit millions to be matched is amazing.
That said, I might need one of those phone calls from @J9leger to feel good about this proposal.
The salaries here are just too high. We are a Public Goods project and can find intrinsically motivated aligned individuals from lower income countries that will be stoked to work for 1/3rd of this rate, then we can give them raises as they succeed, and still be solid.
I appreciate that the payments are in GTC… which makes me feel somewhat better about the amounts… but are there lock ups for the GTC? The amounts are just sooooo high!
This post sums up some of my concerns pretty well:
This proposal is asking for $868,750 which = 579,167 GTC (if GTC is $1.50)… That is about 4% of the circulating supply, being spent on just this working group for the next 3 months. If that hits the open market, that is a huge amount of inflation, and this is just one working group!
This is really scary to me…
I have 2 small concerns that are probably easily addressed:
#1 I don’t understand the need to hire externally for these roles:
Grant Services Lead (TBD)
Grants Round Account Manager (TBD)
Why can’t these roles can be sourced from inside the team, and we can cut scope on their other priorities? Surely the best people for these roles are probably already on the team.
#2 I am a bit confused on the 125k for the event… What happens if the sponsors don’t show up? What happens to the money if they do? Will the sponsorship money come back to the DAO, or does it roll over some how? The money for the event will need to be liquidated, so it should be paid out to this WG in stables I assume?
I have one serious concern that will be difficult to address
#3 How is PGF going to cut costs in the future.
I want to second @safder
I think this team is doing incredible work, but honestly there seems to be some head in the sand issues with the DAO overall. Cutting costs is critical right now. Many stewards have said this, but nothing is happening.
I can’t vote for nearly 1 Mil of spending for this group for just 3 months, without at least some sort of plan in place to reduce spending in the future by at least 30% next season and ideally more the season after.
I know it sounds harsh, but Giveth has a fantastic donation platform and has a burn rate of around 120k a month… nearly a million for 3 months for just one work stream is hard to swallow.
Can you commit to cutting costs for S17?