Clarification needed: Team's Composition and Token Allocation

25% team allocation with 10% initial distribution and 24-month vesting is a bit worrying.

For instance, Empowa has 10% team allocation with 36-month vesting:
https://drive.google.com/file/d/1TIVu0TcotmMuYgIc_T-s0K3_Hg0f-UnY/view

Is the team fixed to be these 12 individuals (Eric, Cody, Robert, Daniel, Ludovic, Zachary, Kris, Allyssa, James, Advait, Vismay, Christopher) or is there leeway to hire more? Are all of the team members paid equally? If there are any hiccups in delivery, can the DAO vote to make changes in the team or even to hire another team?

4 Likes

Hey @TomiAstikainen you’ve been around for a while, so first and foremost- thank you for the continued support over the last 1.5yrs that this team has been volunteering to build Indigo! It’s been a fun journey thus far and we have years of work still to do, so long as the Indigo DAO approves us doing so.

Happy to confirm that vesting applies to the current team and will be applied to future team members. We will be growing and expanding the Labs team over the years as we continue in an administration role for Indigo.

As for the amounts allocated to the team, we feel that 25% is in line with the norm in the space and has been well earned. Recall, we are proceeding with a Fair Launch in order to give as equal and fair opportunity to all as best as can be planned in these early days of launching such protocols.

And yes, the DAO can vote at any time to stop working with Labs, as I hinted in my greeting to you. If such a vote were to be presented and passed, that vote would not affect the team allocation previously received so much as transfer the handling of any DAO tokens administered by Labs to the next dev team. But it is our hope that the community will see continued value in working with Labs. We pride ourselves on being transparent and fair, which I trust that you have seen as you’ve interacted with the team for some time now.

4 Likes

Hi Eric, thanks for your swift and professional reply. I like poking in the beehives to see what comes out. Only sweet honey comes out of this one. :smiley: You guys have done amazing job so far and I’m hyped about the model you have created. Will be an active governance participant.

Thank you for your efforts!

Tomi

PS. I have checked Centrifuge, Synthetix, Mirror Protocol and Spartan Protocol earlier so I totally get the promise of synthetic assets. Been also Karura/Acala Senior Ambassador since the beginning.

8 Likes

Of course, we’re happy to reply to such inquiries as we strongly feel our plan is a fair and sound one!

You’re welcome, and we appreciate the kind words.

There’s no shortage of innovations and concepts that can be considered, so if you’re out there doing recon on other protocols, please feel free to share ideas and suggestions as to where Indigo can be improved. I have to imagine the Indigo DAO will consider them :handshake:

4 Likes

Great reply as always! LFG!

1 Like

It needs to be re thought because this would mean the team won’t put 100% effort into the project so we need to allow smaller token relases

2 Likes

We need a little editing so the team don’t dump so fast and also they are motivated to build top quality and not a rushed project! A slow relase over 4 year period is a lot better

2 Likes

I would favor a slower release of tokens as well or maybe a long term incentive based pay system. Paying too much or too quickly can cause a team to become complacent and lazy. Not saying this is the case with Indigo, just throwing in my 2 cents.

Thanks for the continued hard work on indigo and within the Cardano ecosystem. Looking forward to our future

5 Likes

I agree this is a strong concern because way too often we hear about project runing out of money!

2 Likes