Sushiswap core team hiring guidelines v4.1

Hiring Process

Conventional businesses usually have ironed-out hiring processes, but SushiSwap is looking to build a Core Team of self-starters , proactive talents that do rather than just flash their credentials. That's why we tend to favor the recruitment of those who have shown consistent, relevant, and continued commitment to the project, regardless of how experienced they are, or their resume.

Any volunteer willing to commit to the project full-time and long-term is welcome to submit a proposal on forum.sushiswapclassic.org, detailing their skills and desired scope of action.

:white_check_mark: The process detailed below assumes that proposals are non-contentious and all voting and conversation is done in good faith. Any attempt to tamper with the voting results will be sanctioned by the dismissal of the proposal.

If a proposal is welcomed positively after at least four days of feedback and fits SushiSwap's current needs, a vote is pushed to Snapshot.

:white_check_mark: If multiple people apply at the same time, a snapshot will be posted per applicant.

If quorum (5M votes) is reached on a hiring proposal, the new hire officially joins the Core Team.

:white_check_mark: In the event that a malicious actor tries to push a hiring proposal on Snapshot, the Core Team reserves the right to veto the community vote.

Onboarding and Trial Period

As stated before, consistency and continued commitment are instrumental to the project's success. That's why a trial period for every full-time Core Team member will be implemented.

The trial period duration is set to two months.

During the trial period, every new hire will receive 100% of their due salary , in the form of a monthly grant (i.e. not through Sablier).

:white_check_mark: During the two-month trial period, the collaboration can be ended unilaterally. In case of early interruption, a grant corresponding to the pro-rata based on time worked will be issued.

If the trial period is successful, the new hire is made official. They are added to Sablier, their signing bonus (see Perks section below) is unlocked, and they are now protected by a severance package (in the case of a standard firing procedure).

If the hire isn't confirmed at the end of the two-month period, the signing bonus and severance package are null.

Part-Time Hires

SushiSwap thrives thanks to its volunteers. Unfortunately, some of them are in a place that doesn't allow them to commit full-time to the project.

They are more than welcome to contribute but they would be compensated with a monthly or hourly grant, based on their involvement in and time commitment to the project. The amount of the grant will be set up on a month-to-month basis, and will be adjusted to the part-time contributor's degree of involvement. Monthly and hourly grants will denominated in USDC.

Grantee will issue an invoice to the core team detailing their hours. The agreed amount will be settled in USDC using the ops multisig.

:white_check_mark: For operational efficiency and comfort for contributors, grants will be issued at a fixed date every month.

Compensation Policy

SushiSwap is a prominent actor with exciting prospects in a highly innovative space. We intend on providing our talent with attractive compensation packages. But we also have to do so in a strategic way if we want to thrive in the long term.

:white_check_mark: Three compensation mechanisms have been discussed and we’d like your opinion on them. For options 1 and 2, every new hire can choose the portion of the salary they want to be paid in USDC vs SUSHI, depending on their desired exposure to risk.

:one:- Package pegged to daily low SUSHI price according to Coingecko on the date the snapshot is posted

With that option, every contributor package (compensation+hiring bonus) is pre-set on the basis of SUSHI price of the day their hiring proposal is submitted to Snapshot (daily low on Coingecko).

Two examples:

  • Dev: 250K USD package // SUSHI daily low price at snapshot time= 4$:

    • Hiring bonus=0.15%*250K USD/4=9375 SUSHI
    • Package: Max 62.5K SUSHI (if 100% SUSHI compensation)
  • Dev: 250K USD package // SUSHI daily low price at snapshot time= 8$:

    • Hiring bonus=0.15%*250 USD/8=4687.50 SUSHI
    • Package: Max 31.25K SUSHI (if 100% SUSHI compensation)

:white_check_mark: Pros:

  • SUSHI vesting available
  • Strong exposure to SUSHI price

:no_entry: Cons:

  • Creates a huge disparity between team members, on the sole base of the date the snapshot is submitted. Could be problematic if the team grows significantly.
  • Prospective hires have no say on the date the snapshot is posted and it could turn out to be disadvantageous. We could also have people purposely delaying or rushing the hiring process just to "catch" an advantageous price point.
  • If SUSHI price swings dramatically, some packages could be worth less than the standard amount (for instance someone gets hired when sushi is at 8 but the token durably stays under that price level for the whole year).
  • Could end up being bad press because of salary differences.

:two:- Evolutive compensation

With that option, each team member gets paid the equivalent of their monthly salary (the frequency could be adjustable) on a set date (1st of the month, so same SUSHI price point), and there is no pre-determination of the SUSHI amount of their package. The hiring bonus would amount to 15% of the total compensation package, payable in USDC.

Two examples:

  • Dev: 300K USD package
    • Hiring bonus: 0.15x250K= 37.5K USDC
    • Month 1: 250K USD/12=20.8K USD (payable in SUSHI). If SUSHI is 2$ = 12.5K SUSHI
    • Month 2: 20.8K USD (payable in SUSHI). If SUSHI is 4$= 5208 SUSHI
    • Month 3: 20.8K USD (payable in SUSHI). If SUSHI is 8$= 2604 SUSHI
    • Etc…
  • Community Manager: 80K USD package
    • Hiring bonus: 0.15x80K= 12K USDC
    • Month 1: 80K USD/12= 6666 USD (payable in SUSHI). If SUSHI is 2$ = 3333 SUSHI
    • Etc…

:white_check_mark: Pros:

  • The fairest option as the value of the monthly compensation (could be adapted to frequency) is always equal to 1/12 of the base salary at the time of payment
  • Every team member gets their salary at the same price point
  • The total package can't be worth less than the initial package agreed on
  • We don't have to worry about price fluctuation when paying
  • SUSHI price is out of the equation when hiring
  • SUSHI vesting available

:no_entry: Cons:

  • Requires calculating compensation on a monthly basis (if payable in SUSHI)
  • Don’t know how it would work with Sablier if we pay in SUSHI

:three:- Full USDC package

With that option, each team member gets fully paid in USDC (both salary and hiring bonus).

Two examples:

  • Dev: 300K USD package

    • Hiring bonus: 0.15x250K= 30.7K USDC
    • Month 1-12: 250K USD/12= 20.8K USDC
  • Community Manager: 80K USD package

    • Hiring bonus: 0.15x80K= 12K USDC
    • Month 1-12: 80K USD/12= 6.66K USDC

:white_check_mark: Pros:

  • The easiest option.
  • Salary is fixed
  • The total package can't be worth less than the initial package agreed on
  • We don't have to worry about price fluctuation when paying
  • SUSHI price is out of the equation when hiring
  • Can easily be streamed through sablier

:no_entry: Cons:

  • No exposure to SUSHI
  • No SUSHI vesting
  • The dev treasury must have enough USDC to cover wages, or swap SUSHI for USDC regularly

:white_check_mark: The chosen compensation structure will be retroactively applied to SushiSwap’s initial Core Team members (0xMaki, JiroOno, OmakaseBar, Levx, Joseph Delong, Keno, I’m Software) on the anniversary of their recruitment.

Section 2: Perks

Signing bonus:

Each new hire (part- and full-time) is entitled to a signing bonus equivalent to 15% of their total compensation, payable in USDC (e.g.: 45K USDC for a 300K USD package).

:white_check_mark: The signing bonus will be unlocked at the end of the two-month trial period.

SushiSwap assistance:

Working for the project and the subsequent increase in revenue could mean new hires need assistance with their personal finances and legal fees in case of litigation.

Therefore, SushiSwap pledges to:

  • Cover up to $5K USD for taxes/accounting-related expenses.

:white_check_mark: These costs will be covered under the condition that they are directly and solely tied to SushiSwap activity and are deemed reasonable upon evaluation of the official +billing by 0xMaki, ops or any member of the core team. Due diligence will be conducted if there is doubt. Any wrongful claim will be sanctioned by immediate termination without severance.

  • Cover legal assistance fees in case one of the Core Team members faces litigation with regard to their role in SushiSwap that is not a result of gross malfeasance

:white_check_mark: These costs will be covered under the condition that they are directly and solely tied to SushiSwap activity and are deemed reasonable upon evaluation of the official billing by 0xMaki, ops or any member of the core team. Due diligence will be conducted if there is doubt. Any wrongful claim will be sanctioned by immediate termination without severance. _

Section 3: Indicative Salary Grid

This section includes different sample salaries SushiSwap could offer. Each compensation package will be objectively based on skills, experience, and expertise. For this grid, our frame of reference was the higher bracket of high profile salaries, plus a premium to reflect the risk/volatility associated with decentralized crypto projects.

Senior Dev : 180K - 250K USD (excluding signing bonus).

Junior Dev : 80K - 150K USD (excluding signing bonus).

Senior Ops/Business Dev : 120K - 150K USD (excluding signing bonus).

Junior Ops/Business Dev: 85K USD (excluding signing bonus).

Senior Designer/Comms : 120K USD (excluding signing bonus).

Junior Designer/Comms : 80K USD (excluding signing bonus).

Community Manager: 80K USD (excluding signing bonus).

Pay ranges are a guideline and outstanding candidates can request an increased salary pending approval of the core team

:white_check_mark: This salary structure could be subject to change as the project grows. The community would, of course, be notified if/when this is the case.

Termination Policy

Letting someone go is a painful, stressful experience that can put a strain on a project’s morale.

That’s why we’d like to introduce transparent termination procedures so there are no surprises in the event of poor or malicious performance.

  • Any termination decision will be discussed and voted on by the Core Team.
  • Gross misconduct and dishonest behavior will result in immediate termination without any form of severance.
  • Standard terminations will be subject to a severance package based on the individual’s fixed salary. The standard severance package is one month’s salary.
  • Severance packages will be approved by Core Team and Multisig before being sent.
  • In the event of a high-profile termination, a post-mortem could be shared with the community, shedding light on the context and justification for the decision.
Which compensation package should we offer?
  • :one:
  • :two:
  • :three:

0 voters

5 Likes

Borked this again, should be 250k

It’s already the problem.
AFIK , Clearwood - I’m Software - Joe have this package :
20.000 sushi for the signing bonus, the 11 january = 20.000 * 4 = 80.000 USD ! MANY MORE than the current 15% signing bonus
*120000 USDC
*300000 SUSHI

Who will accept this situation ? You are paid for more than 1 MILLION USD , your signing bonus was 30% and not 15%.
If you want to hire the bests, you should propose a fair proposition.

I can’t imagine being hired and being paid 250K USDC when my colleagues for the same job are paid more than 1 million, just for two-three months.

People with talent are not stupid, no one can accept.
The current package is good, so apply it to all core members.

May you explain for transparency, why did you accept your hiring guidelines and change them now ? Thank you, the community will appreciate.

I think the current package is correct, even if people in silicon valley are paid really more and don’t take the same risk

My two cents
The community wait your thought @levx.io @OmakaseBar JiroOno

5 Likes

The community would love to have your thought @ImSoftware @Clearwood BoringCrypto levx.io OmakaseBar JiroOno

Share with us your thought on the huge decrease of the salary , from 1M to 250k usdc

Are you ready to accept this salary for you from now or do you want to keep your 1 million, sry now 2 million USD package and give 10x less to next hired ?

The floor is yours !
my 4 cents !

1 Like

Just to clarify, despite being the community member behind the V2, I have several reservations about this version, mostly regarding the way part-time hires would be compensated and full-time salary levels. I checked Uniswap’s jobs for instance and they offer more or less the same compensation levels as us while being incorporated (which means considerably less legal and financial risk, more stability, and more benefits).

Besides, the talents behind SushiSwap come from all over the world so setting the compensation in dollars might make sense as a standard. But we should take into consideration that people living in countries with “strong” currencies (EU, Switzerland, UK) might be penalized by quite unfavorable exchange rates.

I’d like to stress that the previous salary grid had been pre-approved (check HG v2), and for the most part suggested by Maki during our several conversations. The reason for this (drastic) change, while the treasury is at an ATH and we’re in dire need of talent is a bit beyond me…

Last but not least, I regret that this proposal hasn’t been pushed around. It’s key to our future development and it deserves to have as many eyes on it as possible.

One more thing, Joe mentions the fact that we can’t change the past but the last batch was supposed to be following the hiring guidelines, as clearly stated in the snapshot. It hasn’t been the case as hiring bonuses have been sent before the end of the trial period and compensation packages have been arbitrarily pegged to a price in December. We end up with massive discrepancies in salaries between those who were lucky (or pushed hard enough) to be hired before the hiring guidelines and the rest.

Everything being public, I’m confident this will come back to bite us.

2 Likes

I’m not really sure what your main question is, but happy to be transparent and discuss a few points you brought up. Levx Omakase and Jiro were all hired with roughly the same compensation package 300k USD one year salary. I believed this amount was appropriate for me to leave my previous position and account for any other potential risks. We chose to have this amount paid in sushi at the time. The main difference is that when we were hired sushi was around $1.35. There was no way to know whether sushi would go up or down, but we were committed to doing our best to serve the community, push interfaces and features to eventually see sushi grow. In fact there was a period of time after I was hired when sushi fell to $0.6 effectively cutting my usd equivalent salary in half and this was an accepted risk. When our current yearly salary ends, the expectation was that it will reset to 300k USD to be paid in either in usdc or sushi at the new spot price. I don’t see anything unusual here since our previous hiring packages are essentially the same proposal offered to new hires in previous hiring drafts. I don’t have much background info to comment on v4.1.

Ultimately the only difference is the sushi spot price. And this is not easy to solve given the fast growth of the space in general, I’m sure there will be discussions about how to smooth the price differential. It seems v4.1 attempts to stagger distribution to reduce volatility as sushi org stabilizes and is considered “late stage”. Regardless I think its fair to say those who join earlier assume greater risk and the reward is proportionate. At normal startups the first 2-5 engineers receive higher equity packages (0.5 - 1%) than say for example the 10th hire (0.1%), there is nothing unusual about a 10x difference in total package size at a growing org (If the org goes to 0 then it doesn’t matter). Additionally this is how I rationalized my initial hiring proposal, if the total sushi in the treasury represented the value of the organization, then as the first engineering hire 0.8% would not be unusual -and this was effectively 200,000 sushi or 300k usd. Likewise as a startup grows and matures it would be unusual to give earlier hiring packages to late series employees as there is effectively less risk.

Ultimately people discount just how fast sushi has grown in the past 6 months and how mature we are despite outstanding issues. Its really hard to say where we stand compared to a traditional startup series roadmap. Are we late stage or early stage? What metrics we should use to make this determination seems to be the crux of the hiring debates. I welcome more thoughts on this matter. To date the platform has generated $64,952,652 in fees for LPs, no small feat for any organization.

5 Likes

@OmakaseBar what your wrote make sense, thank you for the answer.

Even if DeFI company grow fast, I still don’t understand what’s the difference between being hired in January and being hired in April.

If true, the hiring bonus must be send at the signature for everyone, because now, there are too much disparity

  • The package, even for two months, but I understand your point of view
  • The hiring bonus, before 80000 USD and now the maximum is 45000 usd
  • The fact that hiring bonus has been paid the first day, ant not after the trial period as @Pedroww said.

I think, if you want to be fair with next members, you should pay an hiring bonus of 80000 USDC , and keep the same package, 250K max per year, then the disparity will be more ’ acceptable ’

1 Like

I want to echo this point. I jumped off an equally well compensated job to pursue a risky endeavor at SushiSwap. I opted to take my salary in Sushi at the risk of my family, price movement could’ve gone either direction. I am not sorry for taking my salary in Sushi, I accepted it in Sushi because I believe in the project.

I understand there is a disparity in core team members who started prior to the price movement. That is how the world works, early risk takers could’ve been wiped out by a crash. Now there are askers who would like a time machine to go back and make the same decision.

These salaries are very fair according to our market research and match the industry expectations. We did add a provision for outstanding candidates.

Pay ranges are a guideline and outstanding candidates can request an increased salary pending approval of the core team

It seems as though this hiring guideline is controversial and will likely not make it into a snapshot, stalling an already languished process.

4 Likes

@dangerousfood I understand, but you don’t answer on the most important, about what @pedrowww said

If you want to be fair with new members, you must offer the same bonus package, at the same time

You had a bonus of 80000 USD or 20000 sushi, each new member must have the same bonus, at the beginning and not after the trial period, like you and all others + the salary [ 250K USD year ]

They can eventually accept the salary changed drastically even if it’s strange for just 2-3 months… why not… but nobody will accept the bonus divided by two and the need to wait 2 months to receive this bonus instead receive it immediately like all others members

As far I know, the previous hiring guidelines was clear and you should have your bonus after the trial period, not before, so you must apply the same for less disparity

If you come and divided by two all things, bonus, salary, time to receive the bonus … good luck to hire talented people

I think we are doing alright in this department. Thanks for the input.

1 Like

Yyo guysi love sushi! How can i joinu guys? Imopen to be interviewed and all? Thanks

Hi, I tried joining the Sushiswap discord group but now it looks like the server is restricted? Would like to chat about being a front-end volunteer :smiley:

Any link to send a request im a fullstack developer and i love sushi! Thankss

Hi Joseph,

I tried reaching out to you and Maki on Twitter about my discord account being mistakenly autobanned by your Sushiswap discord server. I reached out to discord support which confirmed that I should get in touch with the Sushiswap server admins to unban my account.

More than happy to give more details on this if you’d like.

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SUSHI please, build website like AAVE, Clean and Very Good for Marketing.
ALL DATA on First Page.
COMPARE SUSHI on CoinMarketCap
when Click website = sushiswapclassic OLD and UGLY…!!!

2 Likes

Closing this here, it is a controversial proposal v4.1 is a no-go and any of the others. A distraction more than anything.

1 Like