This is the second update on RAD, and it includes operational updates as well as a first glance comparison between the participants of RAD and DIP, as it was requested during the last GRC.
Operational Updates
Updated Program Manager compensation & contract
With no votes in January and just one vote in February, it became apparent that the cost of the program manager’s compensation was disproportionately high. We originally anticipated a larger volume of votes, but that hasn’t materialized so far.
As such, we discussed with SEED and agreed to switch to a per-proposal compensation model. The new compensation goes from a flat $5,000/mo to the following:
| Type of Proposal | Base Payout | PM Scope | Total |
|---|---|---|---|
| On-chain Constitutional | $700 | $600 | $1,300 |
| On-chain Non-constitutional | $500 | $600 | $1,100 |
| Off-chain Decision Making (non-constitutional) | $500 | $600 | $1,100 |
| Off-chain Elections | $500 | $600 | $1,100 |
| Off-Chain Temperature Check (non-binding) | $300 | $600 | $900 |
Base Payout should be understood as the ‘opportunity cost’ of SEED not receiving rewards from the program as delegates, despite being eligible and continuing to vote normally. PM scope should be understood as the amount we’re paying SEED for the scope of work of the program manager, as outlined here.
Compliance Update
Since our previous update, 6 more delegates have completed the compliance process, and the numbers of delegates in each stage are updated as follows:
- Delegates who applied: 38
- Finished compliance: 30
- In process to complete compliance: 6
- Have not started the process: 2
Participation in RAD vs DIP
During last GRC, it was asked that we look into the difference in participation between RAD and DIP and whether RAD has been successful in activating dormant delegates. While it’s still too early to definitively answer that, we did a first comparison:
- Participated in DIP and now also RAD: 28
- Applied to RAD but wasn’t in DIP: 9 (representing ~35.90M ARB)
- Were in DIP, but not in RAD: 33
Out of the 33 that were participating in DIP but are not in RAD, 3 of them are Frisson, Pedro and Tamara, who cannot participate as members of the OAT and OpCo. Of the remaining 30, 2 are above the 200,000 threshold but are inactive, while the remaining 28 are below 200,000 VP. What’s interesting is that of those 28, the majority are way below DIP’s 50,000 VP threshold, with many of them now having virtually 0 voting power.
February Rewards
There was one vote during February. You can find the rewards calculations in this post by SEED. The rewards are expected to go out today.
For any questions, please contact Sinkas on Telegram.