Michael O’Rourke, head PNF director if PIP-38 passes, has committed to adopting a compensation scheme in line with my proposal in the preceding post. In particular, he agrees to leave control over compensation payments to the DAO for hitting price-targets, and instead of lump sum payouts, agrees to compensation being based on a percentage of DAO Treasury growth. In addition, he agrees to allow the DAO, or a committee created by the DAO, to reduce compensation levels if necessary to protect protocol health and/or in light of POKT tokenomics.
Based on that commitment, I am changing my vote to one of support for PIP-38.
I encourage others whose opposition to PIP-38 stemmed from the compensation scheme to consider changing their votes as well.
However, Michael wishes to consider amendments to the proposal that would clarify the allocation of rewards at each price target. To that end, I will be floating a pre-proposal in the next few days based on my replacement compensation scheme for debate and tweaking that can facilitate the changes he - and other DAO members - might like to see made. There is also some disagreement with Michael on compensation for Shannon. That disagreement can be addressed as part of the debate as well.
The core components of the proposal outlined in my comments above (including here), in particular those matters to which Michael has agreed in the opening paragraph of this post, will not change. However the mechanics and other details might. Changes on my Shannon approach might also be made. Notwithstanding the passage of PIP-38, Michael is committing to implement the new compensation proposal if it gets passed by the DAO.