Thank you for the update and transparency @nelson
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Did the team consider the option of temporarily banning spending of POKT tokens due to very low price in USD? For instance, a temporary measure that spending POKT tokens from the treasury is disabled until POKT price exceeds $0.15 USD. Now it’s clear that Pocket DAO made a big mistake by not selling POKT to USD when price was above $1 USD, but time cannot be turned back. Spending USD (precisely, USDC and USDT) while preserving POKT until better times seems like a reasonable decision at this point. What are your thoughts?
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Did the team consider implementing variable part of salary instead of paying out $150k per employee which currently represents quite significant hit on sustainability. For instance, base salary is lowered to $100k, and variable part of salary for PNF executives varies between $0 and 100k, depending on the achieved KPIs, such as:
- POKT price goes and stays above $0.10 USD measured by trailing 30-day average → an extra of $2.5k USD on base salary for that quarter
- POKT price goes and stays above $0.20 USD measured by trailing 30-day average → an extra of $5k USD on base salary for that quarter
- POKT price goes and stays above $0.30 USD measured by trailing 30-day average → an extra of $7.5k USD on base salary for that quarter
- POKT price goes and stays above $0.40 USD measured by trailing 30-day average → an extra of $10k USD on base salary for that quarter
…and so on and so forth.
Such KPI based work would be encouraging for all involved parties, both executives and community/investors. It’s how salaries for executives are usually being paid out.
Your hands are free to do the best you can think of, and your work is rewarded depending on the successes achieved. The current way where you get paid regardless of success does not give investors and the community a sufficient level of confidence that you will truly pursue the given goals in the shortest possible time.
The proposed change in salary payment would send a strong signal to investors and community that executives are truly financially motivated to make positive changes for the project.