During the weekend, on the MakerDAO chat, one the current top smart-contract developers (@galabasquer) working for MakerDAO (with the Maker Foundation) wrote something that I think is very important and should be discussed properly.
If there is something that I can not complaint regarding the Foundation is about certainty on monthly payments and job security, which is very important for someone that carries a family. I know that working for a DAO will bring some more uncertainties which I believe I’m up to take but wanna see up to which point they will be.
Currently we are increasing the Surplus Buffer, which is a first step towards “certainty about payments”.
Problem: However the SB can be used for many things, MKR-holders can change their minds every few months about its usage and, perhaps most importantly, it is expressed in DAI. Obviously DAIs are correlated to MakerDAO’s performance and in principle could lose the peg.
People working want to work, not to lose sleep thinking that the crypto market could crash, that the reserves could be depleted, etc!
PROPOSAL: what do you think about starting a reserve of uncorrelated assets (e.g., USDC) intended to be exclusively used to guarantee security of payments to people working for (Core Units of) MakerDAO? Ideally for a decent time-frame lile 24 months.
GOAL: We want to make MakerDAO the best place for talents in the crypto–space to come and work. Good salaries, exciting jobs. And this also included job security.
Of course job security does not mean that you can sleep, do nothing, and still get your salary. It only means that if you do well your job, and your Core Unit facilitator is happy about it, you can sleep well knowing that MakerDAO has reserves of money (uncorrelated to its potential failure) to pay your salary.