As per the previous Lido Ongoing Funding Request last month, it was noted that we’re on track to reach 96 contributors within the next 6 months and this has been budgeted in accordingly.
It is important to note that this excludes Full-Time employees (FTEs).
Given that the salaries budget makes up approximately 44.7% of Lido DAO’s total budgeted overheads over the next six months, I believe it is both rational and reasonable for the team to produce a report to provide some clarity over the list of FTE’s and contributors in every Work Stream (WS) and the allocated salary budgets to such work streams.
Thank you for your time and looking forward to the response.
To clarify: are you saying list off every single contributor per WS, or just the subtotal FTC per WS?
Can’t do the former for privacy considerations - its not good for the whole world to know how much every contributor is making. They’re just providing a service.
In this proposal we shared subtotal FTCs per workstream but it was really rough and not super accurate: Lido DAO Core Contributors Provisional Budget
Which wallet is responsible for paying the contributors?
That’s not correct. It doesn’t exclude FTEs, it just means that the 96 contributors should not be interpreted to mean 96 Full-time Equivalent contributors (i.e. there are contributors that are not full-time).
Look at the recent LIDO-1 governance proposal the 3 multisigs are listed off there
Hi Aurelius, thank you for your response.
Firstly, I understand the privacy considerations and I wasn’t expecting to see salary per contributor, but rather:
- The funding allocation per WS and;
- The number of FTEs and freelance contributors per WS.
If the former is still a privacy concern, the latter certainly isn’t.
Secondly, I think there’s merit in being concerned about the ‘rough and inaccurate provisional budget’ relative to the LIDO-1 budget we’ve seen. Especially given that the former budget should have been prudent, rounded up costs.
The rough budget estimated 83 employees (FTEs only), while the current budget made way for 96 employees (FTEs and freelancers). This is only a 15.7% increase in staff, however 6-month expense overheads increased by 33% ($11.2m vs $8.4m). How is this even possible?
I want to emphasise here that I’m not trying to create problems where there aren’t any. I believe in Lido, its team and its vision and this is reflected in my relatively large long-term LDO position. In saying this, this is a DAO which should in essence thrive on communication and clear transparency (where possible).
If you’re up to it, please send me a message and we can discuss a couple ways that I think we can create this better transparency for Lido’s community while respecting the necessary privacy of its team members.
Hello - thank you for your questions. Your expectations for transparency are perfectly legitimate. We will be rolling out regular reporting on the progress of this budget. Appreciate your patience while we put it together. Send us a DM if you would like to go through your ideas, always happy to listen.