VDP-67 [Governance]: VITA allocations for more dealflow contributors

One-liner: Giving long-term VITA token allocations to top contributors in the Longevity-Dealflow Working Group

Summary

Contributors earn VITA tokens and USDC for completing VDP26.1 bounties and various projects within the Longevity-Dealflow WG.

Proposal: Allocate 750,000 VITA tokens for 8 of the top new contributors and allow up to 200,000 VITA more to be allocated for a few more.

These will be distributed over the next 4 years (with a 1-year cliff).

Motivation

VitaDAO aims to fund and spin out the best translational longevity projects to accelerate progress towards a healthier longer life.

The Longevity-Dealflow Working Group is at the heart of this mission, sourcing, incubating, evaluating, negotiating, and helping advance / spinout projects toward medicine we can all take.

It is paramount that the members have more of a say in what VitaDAO does, via a governance allocation, while giving them more ownership and alignment with our mission.

Specification

Implementation

The tokens will each be in a separate multisig, with the recipient, the VitaDAO Operations Multisig, the VitaDAO treasury multisig, and an individual steward. After 12 months, 25% of the tokens unlock and can be sent to the recipient to own and do with as they please. Each month after that, another 2.08% of the allocated amount unlocks. Each multisig will delegate voting to the recipient so they can vote on proposals day 1.

  • Agree
  • Agree with revisions (please comment)
  • Disagree

0 voters

2 Likes

Hope to see more and similar incentives roll out to other working groups within the DAO too

1 Like

Agree directionally, but would prefer to make it coupled to specific work, and outcomes, especially for the expected work going forward, so there is a concrete way to increase/reduce governance incentives, similar to whats proposed here [Discussion] Safe DAO Resource Allocation Model (OBRA) - Governance - Safe Community Forum

3 Likes

Thanks!

It is coupled to specific work! And it’s a base level assuming similar involvement, but if the input/output changes the amounts also change.

Appreciate any specific suggestions, and happy to have a side-poll for multiple structures.

1 Like

Are these allocations compensation for one year of work or four years of work? Somewhat unclear in the proposal.

5 Likes

The tokens unlock based on how long the person keeps contributing in a similar manner (so if 1 year, only 25%, if 4 years, 100% of the amounts)

1 Like

absolutely should be milestone/objective based for distributions… please please make this adjustment.

2 Likes

Can someone remind me what percent of the FD token supply this represents?

I think compensation for these roles is much needed to provide proper incentive for these much needed roles and am supportive.

Curious what kind of dilution hit this is? There are ~64M tokens so this would 1/64 = 1.5%?

Or another way to think about this is 23.4M tokens still availible to mint. This is like our stock option pool, we would be allocating 1/23.4=4.2% to support 1yr of operations?

2 Likes

Is this proposal to support 8 new positions? I think it would work best in that manner.

If someone drops out we can rehire…

1 Like

These allocations are tied to the entire DAO and WG milestones & objectives. The goal is that more people will be empowered to get VitaDAO to success.

@scienceman you are right, it’s about ~1.5% but also there are only ~25M in total right now, and we’ll mint more soon (a bigger proposal coming up). But there are 64-25=39M tokens available to be minted over time - 60%
(at least until someone lives longer than 122yrs and we can increase the max token supply a bit :grin: )

And yes if people drop out the tokens can be redistributed to others etc but we’ll probably have another VDP.

1 Like

This proposal is now live for voting on Snapshot.

1 Like