XIP#49 - Appoint Apoorv to continue leading Protocol development

Proposals
1

Authors

Core Team

Glossary

Solidity

DAO

DeFi

Summary

This proposal is intended to extend the position of Apoorv as protocol lead at NFTX for an additional year, remaining responsible for leading protocol vision, research, and development. After the 12-month period ends, when there is a mutual interest to extend the position, a new proposal will have to pass through governance.

Rationale

Since hiring Apoorv last year, we’ve been able to fully develop, audit, and deploy the third iteration of the NFTX Protocol, named NFTX V3. This protocol is currently being implemented by the product team, to become available to all NFTX users on our (brand new) front end, and will be implemented shortly after by third-party integrators such as Opensea Pro.

While NFTX remains a leading protocol for providing on-chain NFT liquidity, we feel 2024 and beyond will be critical to extend this position. Next to a rise in NFT activity and interest, over the past months, we’ve witnessed a shift of liquidity and volume towards EVM L2s and alternative L1s such as Solana. Retaining Apoorv and potentially extending protocol development resources will be essential to execute our multichain strategy.

Next to this, Apoorv will work on developing additional features for V3 based on feedback coming from both the product team & users of products/protocol.

Effect

Opportunity

  • Apoorv has shown to be a leading effort in V3 protocol research & development, leading to the first version of V3 now available on Sepolia (and internal mainnet testing).

  • Extending Apoorv his position to lead protocol past V3 will allow us to gradually implement new features (3.1>), as well as execute a multichain (L2) strategy.

Risk

  • As this position determines the overall direction of protocol development, this role is critical for the success of NFTX. Due diligence, therefore, remains very important.

Specifications

Extending Apoorv will keep him responsible for:

  • Leading NFTX Protocol Vision

  • Lead and extend the NFTX protocol team when needed to grow

  • Develop and/or delegate feature development of protocol

  • Creating and sustaining technical resources for the NFTX builder ecosystem such as documentation, technical blog posts, and other resources that help extend our success.

Funding request - Yes - Implementation Requires Funding

In order to keep Apoorv onboard as protocol lead, we’d like to offer him the following competitive package, for which funds are required from the DAO treasury. Packages are paid as defined below:

  • USDC 175000 12-months vesting schedule using Sablier.

  • NFTX (Worth 75000 USD total/y) paid on a quarterly basis, calculated at spot price each quarter.

These funds are to be paid upfront after the vote passes. Extension of his position after 12 months at NFTX will require an additional proposal.

Communication

Proposed points of discussion.

  • Compensation in line with responsibilities?

Quorum (For forum)

  • Minimum Quorum: At least 5 votes

  • Passing Threshold: More than 66.6% (2/3rds) must vote in agreement for the XIP to Pass. For changes to the NFTX contract, more than 70% must vote in agreement for the XIP to pass towards on-chain voting.

Proceed with the proposal
  • Yes
  • No
0 voters
2

The Snapshot passed: Snapshot