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Must deliver a complete project without any dependencies not in control of the Worker Proposal Lead.
The Worker Proposal Lead is responsible for all elements required for success including Product Management, Design, Development, Hosting, Marketing, etc. It may, in turn hire additional resources to fulfill those needs. As a results the Worker Proposal includes enough funds to cover all required resources.
The Worker Proposal Lead acts as the CEO of their Worker Proposal and makes all decisions that help them achieve the KPIs. Specifically, the Steering Committee does not direct or act as a stakeholder to the projects executed as part of the Worker Proposal, other than KPI accountability and budget. If Steering Committee members are critical to the success of the projects, their time and compensation should be secured directly with the individual.
Some initiatives may intentionally be funded only for initial development with the idea of them becoming self-funding businesses. Others may contain recurring payment provisions for operations.
Must include specific KPIs which will be monitored and used as basis to determine if it will continue to be funded.
KPIs should state some expectations of what would be considered success, or failure, e.g. “Success: >1000 registered domains” and not “Domain registrations going up.”
Must include requested budget.
The budget can be for the entire project or monthly. If not monthly payment milestones must be specified.
The budget can contain any of the following:
USDT payment
Can be denominated in FIO or USDT equivalent based on rate of exchange at time of payment.
Can include liquid tokens or locked tokens.
FIO Token payment
denominated in USD.
Desired payment method. See https://fioprotocol.atlassian.net/wiki/spaces/DAO/pages/487358465/Governance#What-are-approved-payment-methods%3F
The budget payments may be paid directly to individuals or vendors completing work for that Worker Proposal as long as payment is approved by Worker Proposal Lead.
Must state which Strategic Objectives it enables.
Must clearly state who owns the intellectual property upon completion. The code and domain knowledge produced should be open-source unless specific exception is granted by the Steering Committee.
See Worker Proposal Process and Payments for detailed field description.
Who can submit one?
Anyone can submit a Worker Proposal as described above.
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USDT.
Liquid FIO - denominated in USDT, but paid in FIO Tokens.
Locked FIO - denominated in USDT, but paid in FIO Tokens, which are locked for a period of 2 years with 4% unlocking every 30 days. This payment also comes with 100% premium, meaning if this payment method is selected, the payment amount is doubled. For example if Worker Proposal has been approved for 1,000 USDT and Worker Proposal Lead changes it 1,000 USDT worth of locked FIO, when the payment is made 2,000 USDT worth of locked FIO will be paid out.
BTC or ETH (requires prior Foundation approval).
Anytime the denominated amount is converted to FIO Tokens, the USDT/FIO rate of exchange is taken from http://coinmarketcap.com as the closing price for the 3rd day before end of the month (for monthly payments), or for the day before payment is made (for one-time payments).
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