ICCP-2

IMPLEMENTED

Simple Summary

Reduce council pay by 25% to $3750/month.

Abstract

The community continues to raise concerns around the clarity of the Illuvinati council's role in Governance V1. In addition, as other means of ensuring DAO runway are being considered and broader economic conditions continue to be uncertain, it is appropriate to evaluate a revision of the council compensation. Additionally, if any future financial sacrifices prove necessary during this epoch, the Illuvinati council believes they should start with themselves first.

Configuration Changes

Change "Council Payment Section" in IIP-12 from:

Each council member shall receive a $5000 USD equivalent payment per month in the form of $ILV tokens.

To:

Each council member shall receive a $3750 USD equivalent payment per month in the form of $ILV tokens.

Change "Change Council pay Section" in IIP-25 from:

5000$ USD per month paid in $ILV

To:

3750$ USD per month paid in $ILV

Determination of payment would continue to follow IIP-25, as the only things changing in this ICCP are the amounts of payment.

Retroactive to the Beginning of Term

As this ICCP is being prepared to offer to council at the beginning of their term (Epoch 7), if passed, this ICCP shall be considered retroactive, following the compensation details outlined here from the start of their service to the DAO, with an intended 6-month term.

Rationale

It is imperative that the DAO continually evaluate the compensation of council members to ensure alignment of expectations and compensation to attract the best talent to lead the DAO, while ensuring funds are used appropriately.

Copyright

Copyright and related rights waived via CC0.