elective-stereophonic
elective-stereophonic
Pokereum Spending Policy and Ground Rules
Please login or register.

Login with username, password and session length
Advanced search  

News:

Latest Stable Nxt Client: Nxt 1.12.2

Author Topic: Pokereum Spending Policy and Ground Rules  (Read 2430 times)

Stark Industries

  • Jr. Member
  • **
  • Karma: +7/-0
  • Offline Offline
  • Posts: 62
    • View Profile
Pokereum Spending Policy and Ground Rules
« on: October 04, 2014, 09:36:52 pm »

Spending policy

The executor is comparable to an "Executive Director" in a legacy establishment. The executor is responsible for spending according to the spending policy, budget or token holder approved board initiatives.

Board members may suggest new initiatives spending, bounties or any other ideas that further the goals and progress of the Pokereum app development and awareness in the interest of token holders. Such ideas and initiatives are agreed on by a majority decision of board members and or token holders votes.

Developers are considered full or part time contractors as that, they are paid twice on a monthly schedule

A replacement executor will and can be appointed through a process of discussion and review of the board followed subsequently by disclosure of findings and options to the token holders who make a final decision through a majority voting outcome.

All spenders in charge of fiat spending of funds sent to them by executor will have funds converted to required fiat denomination and used for its intended purposes as specified by executor or board.

Spending policy may only be changed by majority token holder voting after completion of crowdfunding.

The current executed “Stark’” will be replaced by another capable board member after after completion of the crowdfunding.



Ground rules

Every Pokereum DAO member (workers, admins, devs, and board members) will receive their tokens according to a vesting schedule as specified. General token holders donors will receive all tokens upfront at the end of the donation based crowdfunding period. Pokereum DAO member who will vest token are Developers, Board Members and general workers and admins. The vesting schedule is in place to align interest of Pokereum members with the interest of general token holders and the healthy progression of development. Vesting means you earn your tokens over time, a cliff mean a trial period without receiving allotted tokens. Only developers are subjected to a cliff, since the are also paid a salary in BTC. Developers get the full amount of tokens not paid out during the cliff period after completing the required cliff.

Vesting schedule for developers since they are also paid a monthly salary : 1 year vesting with 2 month cliff
Vesting schedule for board members, workers and admins : 1 year vesting  no cliff

These rules could be reviewed by board and submitted to token holders for final decision voting if necessary

Please see vesting & cliff intro for clarification :  http://thestartuptoolkit.com/blog/2013/02/equity-basics-vesting-cliffs-acceleration-and-exits/

Developers
Developers are highly sort after as that, it is necessary to have the correct incentives in place to attract high quality developers. The incentives for developers are a salary and a time vested portion of tokens
more TBD

Board Members
Board meeting are scheduled at least once a week: at the start of the week or at the end

Board members may hold a meeting of high importance when circumstances necessitate. All other board member will be notified in these cases

“Active board members” may be compensated for holding extra meetings. Compensation shall be approved by majority token holder votes

Ground rules may only be modified by majority agreement of token holder voting after the donation based crowdfunding period is over. Board member mays unanimously modify ground rules prior to the completion of the Pokereum DAO crowdfunding.
more TBD


« Last Edit: February 22, 2015, 05:57:55 pm by Stark Industries »
Logged

innovator256

  • Board Moderator
  • Sr. Member
  • ****
  • Karma: +24/-2
  • Offline Offline
  • Posts: 282
    • View Profile
Re: Pokereum Spending Policy and Ground Rules
« Reply #1 on: February 23, 2015, 07:49:09 am »

Logged
 

elective-stereophonic
elective-stereophonic
assembly
assembly