Vesting schedule and budget division 41dd3c9e74d943fdb124c48de5d789c1
Vesting schedule and budget division
POC Budget (Ethereum Foundation grant)
Eventual 30k
Treasury and Operations: 5-10k
Team: 20-25k
How to split it?
More criteria for deliverables
Get numbers in an understandable way
Three months probation period
How many board members
General budget
Total budget reserved to the Board (founders): 15%
They will be allocated according to the following schedule:
Month 1 2.3% Month 2 2.12% Month 3 1.92% Month 4 1.73% Month 5 1.54% Month 6 1.35% Month 7 1.15% Month 8 0.96% Month 9 0.77% Month 10 0.58% Month 11 0.38% Month 12 0.191%
For each month, the unused budget can be saved to pay for operation expenses
Example:
480k budget / 12 month = 40k month
Month 1: 920 $ board compensation (2.3%) --> 5.080 (12.7% : 15%) treasury Month 2: 1.768 $ board compensation (4.42%) --> 4.232 treasury (10.58%) Month 3: 2.536 $ board compensation --> 3.464 treasury Month 4: 3.228 $ board compensation --> 2.772 treasury Month 5: 3.844 $ board compensation --> 2.156 treasury Month 6: 4.424 $ board compensation --> 1.576 treasury Month 7: 4.884 $ board compensation --> 1.116 treasury Month 8: 5.268 $ board compensation --> 732 treasury Month 9: 5.576 $ board compensation --> 424 treasury Month 10: 5.808 $ board compensation --> 192 treasury Month 11: 5.960 $ board compensation --> 40 treasury Month 12: 6.000 $ board compensation --> 0 treasury
Total 12 months budget for operations: 21.784 $ / 480k
Total 12 months budget for founders bonuses: 50.216 $ / 480k
Total 12 months treasury savings: 24.000 $ / 480k
Total 12 months budget for salaries: 384.000 $ / 480k (= 32k / month) — 4k FT and 2k PT
1. 8 full time or
1. 6 FT and 4 PT or
1. 4 ft and 8 PT
Monthly budget allocation:
15% founders 80% salaries 5% treasury
Example with a 40k budget
Monthly treasury savings: 2k Monthly salary budget: 32k 8 full time contributors at 4k / month
Or:
6 full time contributors at 4k month 4 part time contributors at 2k month
Or:
4 full time contributors at 4k month
8 part time contributors at 2k month
- The founders' shares are permanent subject to attendance at weekly operational meetings (define other responsibilities)
- Missing more than six operational meetings in a semester results in the suspension of the board's remuneration for one month (define other responsibilities of board members)
- The admission of a new founder can be approved by a qualified majority (67% of the board votes). Shares will be frozen for three months after which the new founder must be confirmed by a new vote
- All members of Uniting US start as simple Core Team members, and they will start receiving governance and bonus shares after 3 months of contribution
- The expulsion of a new founder can be approved by a hyper-qualified majority (75% of the board votes). The expelled founder will receive a one-year severance package in exchange for his or her governance shares (board bonuses only)
- The governance shares of an expelled founder can either be redistributed equally among the other founders, or assigned to new members