This document outlines the new compensation structure for full-time Rook Labs contributors, which will be put in use until EOY 2022.
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☝️ TLDR;
- The Rook All Weather Plan™️ makes contributor compensation more simple, fair, full market-cycle compatible and tax-friendly
- The potential for contributors to get grossly under- or overpaid has been removed
- Total Compensation amounts will remain unchanged, awaiting a proposal on improving the way market rates are determined
- One entry level (L0) has been added and the top level (L5) has been removed
- The maximum amount of ROOK that a contributor can elect has been reduced in a level-dependent manner
- The ROOK strike price has been changed to the 30-day VWAP, ensuring fairness
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Introduction
This document outlines a systematic ‘all weather’ approach to contributor compensation for Rook Labs, to take effect from September 2022.
This structure is an evolution of the philosophy of ‘Compensation 2.0’ (source) but adapted to make it more tax-friendly for contributors, runway-friendly for the treasury, and DAO-friendly because it removes the potential for contributors to get grossly over- or underpaid. It also mitigates most of the compensation-related issues that have arisen over the past year.
Purpose
Create an open, transparent compensation system for Rook Labs contributors that:
- encourages consistent valuable contributions
- gives contributors the flexibility to contribute in the way that works best for them, their circumstances, and their long-term well-being
- increases alignment between contributors and Rook’s purpose, values, vision, and objectives
- incentivizes contributors to accrue stakeholdership and governance power in a tax-friendly way
- is financially sustainable
- is full market cycle compatible