Below I have attempted to translate Chris’ concerns into a modest Amendment of ZIP 1014 that (1) allows ZOMG to use the “MG slice” of the development fee to cover a stipend for members and hire contractors for administrative and operational support, subject to limitations (currently ZF covers all operational costs with its own funds), and (2) leaves ZF oversight in place and maintains its role as the administrator of ZOMG’s funds.
I believe all that’s required is making an amendment to Subsection 1 of the “MG Slice (Major Grants)" section and adding a new Subsection 8. My amendments are [italicized].
My objective was to address Chris’ concerns while maintaining the integrity of ZIP 1014, so I hope the amendment is equally fair to both ZOMG and ZF. I would appreciate hearing thoughts, feedback, and alternative language from community members, ZOMG committee members (e.g. @cburniske @ml_sudo), and ZF (e.g. @Dodger @secparam @amiller). Hopefully an official amendment could be made before the new committee members start in November.
ZIP 1014.1 – Amendment to the “MG Slice (Major Grants)” Section:
Subsection 1: “These funds MUST only be used to issue Major Grants to external parties that are independent of ZF [with the exception of the provisions outlined in Subsection 8]. They MUST NOT be used by ZF for its internal operations and direct expenses. Additionally, BP, ECC, and ZF are ineligible to receive Major Grants.”
[Subsection 8: Major Grant Review Committee members SHALL receive a stipend from the MG slice for up to 20 hours of work per month. The stipend MUST be administered and disbursed by ZF, based on a fair market value rate determined in good faith by ZF. In addition, subject to approval by ZF, Major Grant Review Committee SHALL have the option to use funds from the MG slice to hire contractors for administrative and operational support at a fair market value rate determined in good faith by ZF. The total amount spent on additional administrative and operational support MUST NOT exceed $XXX,XXX per year.]