Post name should be HIP[number]-[short description]
This post proposes the principles to grant fund for team involved in protocol management.
As a group, we have been able to organize ourselves around projects and teams in the DAO. We are diligently working in all areas, from Operations and Engineering to Content, Marketing, Partnerships, and Policy.
We propose spending 5% of any new fund raised through the public sale of $Hecta for the team operation. This amount will be calculated at the end of each month.
We have evaluated several methods on how to sustainably running Hectagon Protocol to arrived at this proposal. Since Hectagon purpose is to distribute its fund into new high growth web3 projects, our business model is most comparable to a Venture Capital. In this model, the management team charge 2% of the fund per year for operation, the fund usually operate for 10 years which means in total, 20% of the fund is used for operation. We feel 20% is too much fund to dedicate to operation while spliting it out into 10 years means the team don’t have enough fund at any given time to build something meaningful, hence our proposal to just charge a 1 time 5% fee on any new fund raised.
- Comment will begin now and will end at 08:00 GMT+0 on 08/08/2022
- The polling process begins after comment is over and will end at 10:00 GMT+0 on 08/08/2022
- After off-chain polling, a vote on-chain will be put up at 10:00 GMT+0 on 09/08/2022 and will be up for voting in 48 hours.
For: Action taken if this proposal is accepted.
Against: Action taken if this proposal is rejected.