PGP 1 : Team Allocation

TL-DR : The goal of this proposal is to allocate 15% of the total supply of PAL to the core team and its future hires in order to keep building Paladin Lending, onboarding new assets, managing socials and creating the minority holder coordination platform envisioned in previous blog posts. This would be done with a 3 year linear vesting contract with a 6 month cliff.

Hello everyone,

As per the will of the community, we have detached the Team Allocation for [PURe-1].

Unlike most projects we believe decentralization has to have an origin story and not just be a project. For this reason, we would like the community to greenlight a fixed allocation to align the core team and protocol, while fixing our mission to a specific roadmap.

Paladin began development a year ago, without any funds. We raised funds to afford new hires and retain the talented ones, cover the infrastructure bills (AWS, Tenderly, Workspace, etc…), as well as audit and deployment costs.

Til now, here is what the core team has handled :

Paladin Protocol is in its infancy and still needs a lot of integrations to be built on, as well as a good structure to rely on during the decentralization process. The core team believes that we need roughly 3 years to reach a healthy situation in terms of software development for the DAO to become fully autonomous and for us to implement our full vision of Paladin.

We see the development of Paladin as a 3 phase process, Lending being the first one, but in order to show our vision, we highly recommend reading this blog post : Manifesto for a new wave of corporate activism | by ROMAIN FIGUEREO | Paladin Protocol | Medium

Raised funds should cover base spendings but cannot help us to pretend to be on par with current market expectations, especially for the high level devs currently contributing (Kogaroshi, Esaul & Frieeze), the 7,500,000 PAL is a way to retain these talents on the long term and aligning them with us for the next 3 years, at minimum.

Note : While the team is decentralized, Kogaroshi & I have prepared a way to stop any core team vesting in case a member leaves the project before the end of vesting.

We hope you’ll see the value in us contributing to Paladin.

Sincerely,

Figue, Kogaroshi and the rest of the core team.

  • Yes
  • No

0 voters

4 Likes

Ok !

Core team also need skin in the game.
Really appreciate you are asking the community before doing it, as it’s not the case for most projects.

If 15% is only for 3 years. Do you already have plan for the future ?

4 Likes

You mean, after the 3 years ? Crypto is a bit too hectic to plan for the multi year term, so “no”.
In a sense there are things we can do as a DAO when all the products will be done that could be extremely powerful, but I guess we’ll see where we stand in a few years

2 Likes