Dash Pays A Real Salary
Dash Pays A Real Salary
The cryptocurrency Dash has an interesting compensation model for its developers and contributors that may be advantageous. To advance a crypto project is a huge undertaking, and requires serious planning. The way in which the project is funded my determine its success, ultimately.
Open-source projects, for instance, often have run into issues involving participants’ compensation. For instance, Bitcoin, an open-source project, has experienced growing pains directly related to this very issue of compensation. Obviously, funding is critically important to cryptocurrency projects.
You’re probably thinking ICO right about now. And it is true that many cryptocurrency projects rely on ICOs to fund develop efforts. However, Dash uses a very different method to compensate its team. Dash actually pays salaries.
Yes, Dash compensates team members by paying salaries out of a portion of the bloc rewards. Specifically, the arrangement works as follows:
Each month, 10% of the block rewards are reserved for successful treasury proposals. This means that as much as 6,650 DASH, worth $5.8 mln at press time, can be paid out directly by the network to those who manage to get their treasury proposals passed. Dash’s treasury system pays for marketing efforts, business development and integrations, conference sponsorships and more. And further,[m]ost important[ly],Dash’s treasury pays Dash Core developers’ salary each month. At present, Dash employs a staff of 50, including 23 developers, four project managers, eight marketing specialists and 15 other administrative employees. These team members are paid a total of $300,000 per month, directly from Dash’s treasury system…
So, no one at Dash is working for free. Dash pays — salaries.
The key here is that talented developers are likely to become attracted to the Dash project, and are likely to stay once they join. Furthermore, Dash has more control over its partnerships. So, for instance, with Universities, funding is not dependent external sources, giving Dash majority influence.