|Network||Ethereum & Optimism|
Pay DAOs' monthly stipend from inflation instead of from the Treasury Council's assets.
The motivation behind this SIP is to increase self-sufficiency for the DAO in terms of operating costs and to better align stake holders.
The Treasury Council currently handles the 47,000 SNX p.month DAO stipends, which unnecessarily gives the TC an additional lever of influence over other Councils and reduces protocol autonomy.
Council members receive a monthly stipend for their participation. Currently, the process is done manually by the Treasury Council, which pays a predetermined amount to each council member. Current total monthly stipends amount 47,000 SNX.
This SIP proposes that 47,000 SNX of monthly inflation is diverted to the addresses holding their respective Council NFT, and paid weekly in order to accommodate existing weekly inflation minting.
Current stippend amounts will continue in place. Each member of the Spartan, Grants, Ambassador, and Treasury Councils will recieve 2,000 SNX p.month. The Core Contirbutors Comittee's members will recieve 1,000 SNX p.month.
The SNX that is distributed to council/comittee members will come from exisitng inflation.
The distribution method will be done weekly by the pDAO and distributed to existing Council Member NFT holders.
In the future, changes to the stippend amount will be subject to a meta-governance vote in a proposal that can be written by anyone and would be approved by the SC.
In order to facilitate the transtion, the Treasury Council will pay the October 2022 stippend, and inflation payments will start on the first week of November 2022.
The implementation requires pDAO to call
4. addRewardDistribution on the Synthetix: Rewards Distribution contract, passing an address with a specific reward per week.
In order to stop payments at the end of an epoch, pDAO needs to call
7. removeRewardDistribution to stop transferring SNX to former council members.