XIP#51 Renew Chop on NFTX Core Team

Proposals
1

Summary

  • This proposal is to renew 0xChop’s position on the NFTX core team, leading in operations, strategy, and treasury management for 12 months. This helps free up the rest of the Core team to focus more on product and development.

Rationale

  • Over the past 12 months, 0xChop has continued to be instrumental in driving NFTX to remain a leading liquidity provider in the NFT space. 0xChop has continued to manage the DAO’s operations and contributed to crucial decision-making around the direction of the DAO and product as NFTX has evolved.
  • 0xChop has driven the team’s growth, including the full-time hire of Bart for DevOps and security.

Effects

  • Opportunity
    • 0xChop has already proven to be a valuable contributor, delivering on new treasury strategies, hiring another DevOps and security contributor, and continuing to grow NFTX’s presence in the NFT and DeFi space.
    • Maintaining continuity in a well-drilled team is paramount to the successful development of the product and expansion of the NFTX moat; 0xChop is a vital part of that process.
  • Risk
    • If this proposal is not approved, the disruption to the team would slow the development of the product and provide competitors with an opportunity to seize a more significant portion of the market.

Specifications

  • Renewing 0xChop’s contract will maintain his responsibility for:
    • Strategy
    • Operations
    • Treasury

Funding Request

Yes - Implementation requires funding.

To extend 0xChop as a core team member for another 12 months, we’d like to offer him the following competitive annual package, for which funds are required from the DAO treasury:

The package is paid with a 75-to-25% ratio in USDC/NFTX, as defined below:

  • 126000 USDC 12-month vesting schedule using Sablier.
  • NFTX (Worth 42000 USDC) paid quarterly, calculated at spot price each quarter.

These funds are to be paid upfront after the vote passes and 0xChop commits full-time and begins streaming at the end of the current streams. Extension of his position after 12 months at NFTX will require a new proposal.

Quorum and Governance Notes

  • 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.

(edit: updated Quorum to new values)

  • Yes, renew Chop
  • No
0 voters