[community vote]: Reden Team Remuneration

The Reden Project team has worked to turn the project around on a volunteer basis since 2 April 2018.  We believe the project has been put back on stable footing with a new blockchain, a successful coin swap and a clear purpose that we are now beginning to implement.

We have a focussed core team with clear roles and responsibilities. We now need to implement a fair remuneration policy, and put the following funding and payment model to community referendum.

Key features of the Reden Project remuneration model will be:
Budget for a 15 person team  (eg 4 dev, 4 content/marketing, 4 CxOs & active advisors)
Budget based on average remuneration of 40 reden per day per person, that will be split into:

  • Base pay of 20 reden per day for active team members
  • Bonus pot of 20 reden per day to be distributed transparently within team
  • Active advisors will also be eligible for a share of the bonus pot.

Max pay per active core team member 40 REDN.

At current traded prices 40 reden is approximately 2 US dollars, and this reflects the very high belief the team has in the Reden Project and future value of Reden coin.

To ensure the team remuneration is sustainable over the next months, until the project is generating income to cover its costs, we propose to fund it as follows:

  • redencoin.org pool fees of c.75 coin per day
  • part of the monetisation we are looking to implement starting from the first version of our product
  • dev fund to cover the difference

We expect the coin value to increase and will review average daily remuneration then and regularly thereafter.

We believe this innovative funding model ensures the longer term ability of Reden Project to reward active team members for delivering results, and is linked to the value of reden coin.

Referendum is open from may 24, 2018 – 8h15am UTC until may 27, 2018 – 10pm UTC

Please go vote in our Discord