Time & cost estimates
Time and cost estimates for each actor that would be involved in the funding process
Each of the stakeholders involved in the funding process have a list of tasks that they will complete to fully participate in the funding process. The time it takes to complete each of those tasks can be estimated and aggregated to generate a total estimated time required. The total time estimates can then be multiplied by an hourly rate for each role. Each role's hourly rate will need to roughly take into account the skill level and responsibility of the role. This will result in generating a total estimated cost to participate in the funding process for each stakeholder.
To create the participation time estimates a number of default parameters will be applied:
Contributor funding term length - 6 months
Maximum funding available per contributor - $60,000 (6 months of $10,000)
Total funding available - $180,000 (A minimum of 3 contributors will get approved)
To create total participation cost estimates the following hourly rates will be applied to each of the different stakeholders:
Community member - $15 per hour. This rate is higher than the majority of minimum wages across the world. The purpose of adding this rate is to help ensure that the value of people's time is respected.
Contributor - $57.50 per hour. This is rounded down from a $120,000 annual equivalent salary assuming a 40 hour work week. This rate is higher than the majority of normal software developer roles across the world. It should be noted however that talented blockchain and smart contract developers can sometimes be paid much more than this hourly rate.
Voter - $15 per hour. Same rationale as community members.
Funding operator - $38 per hour. This is rounded down from a $80,000 annual equivalent salary assuming a 40 hour work week. The role is important however the tasks and responsibilities do not require a high skill level. The hourly rate should be comparable to a number of entry to mid level management or analyst roles depending on the country.
The values used within each stakeholder's time estimates are intended to reflect an average time. Some people will spend far longer than the estimated times given below, and others will spend far less time. Our goal for this estimation is to be somewhat generous in the average time estimations to better understand the potential cost if this process was going to be scaled.
Ecosystems can update any of the values being suggested to better reflect their own circumstances, usage and funding process. The values provided above are merely initial suggestions to start thinking about how time consuming and costly this funding process could be for the different stakeholders involved.
Community member
Priority suggestions
Review priority suggestions - 200 minutes (2 minutes per suggestion, 100 suggestions)
Submit priority suggestions - 10 minutes (10 minutes per suggestion, 1 suggestion submitted)
Respond to existing priority suggestions - 15 minutes (3 minutes per suggestion, 5 suggestions responded to)
Total - 225 minutes
Contributor proposal feedback
Review contributor proposals - 80 minutes (4 minutes per proposal, 20 proposal submitted)
Provide contributor proposal feedback - 10 minutes (5 minutes per proposal, 2 proposals feedback given to)
Total - 90 minutes
Contribution board feedback
Review contribution board tasks - 180 minutes (30 minutes per month, 6 months period)
Shared contribution task feedback - 90 minutes (15 minutes per piece of feedback, 1 piece of feedback per month, 6 month period)
Total - 270 minutes
Total estimated participation time
9 hours 45 minutes (225 + 90 + 270 = 585 minutes)
Total estimated cost to participate
$146.25 ((585 minutes/60) x $15)
Contributor
Contributor proposal submissions
Copy contributor proposal template - 10 minutes
Fill in contributor proposal - 60 minutes
Create pull request - 10 minutes
Review proposal feedback - 20 minutes
Complete proposal submission feedback questionnaire - 10 minutes
Total - 110 minutes
Contributor onboarding
Review priority suggestions - 200 minutes (2 minutes per suggestion, 100 suggestions)
Share preferences - 15 minutes (5 minutes per suggestion, 3 suggestions responded to)
Join internal contributor chat - 5 minutes
Join contribution log chat - 5 minutes
Join open contributor chat - 5 minutes
Set initial contribution tasks - 180 minutes
Total - 410 minutes
Monthly contributions
Complete contribution period - 0 minutes (Not counted towards the estimates as contributors will be paid their agreed salary for their contributions. These estimations are only interested in the time required and cost involved with participating in the funding process itself, not the actual execution efforts)
Share future contribution intentions - 240 minutes (10 minutes per task, 4 tasks per month, 6 month contribution period)
Create contribution log - 360 minutes (60 minutes per contribution log, 1 contribution log per month, 6 month contribution period)
Request contribution attestations - 60 minutes (2 minutes per attestation request, 5 requests to contributors or community members per month, 6 month contribution period)
Share contribution log - 30 minutes (5 minutes per contribution log shared, 6 month contribution period)
Receive contribution payment - 0 minutes (Contributor waits for payment to be received however is not responsible for any contribution efforts)
Total - 690 minutes
Completed funding process
Share contributor peer review questionnaire - 10 minutes (2 minutes per shared request, 5 people request shared to)
Complete contributor experiment questionnaire - 20 minutes
Total - 30 minutes
Total estimated participation time
20 hours 40 minutes (110 + 410 + 690 + 30 = 1,240 minutes)
Total estimated cost to participate
$1,188.33 ((1,240 minutes/60) * $57.50)
Voter
Voting process
Register to vote - 5 minutes
Fill in the voting form - 160 minutes (5 minutes to review each candidate, 3 minutes to vote on each candidate, 20 contributor proposals to review)
Submit voting form - 5 minutes
Wait for voting results - 0 minutes (Voting results are aggregated by the funding operator)
Complete contribution selection feedback questionnaire - 15 minutes
Total - 185 minutes
Completed funding process
Complete voter experiment feedback questionnaire - 20 minutes
Total - 20 minutes
Total estimated participation time
205 minutes (185 + 20 = 205 minutes)
Total estimated cost to participate
$51.25 ((205 minutes/60) * $15)
Funding operator
Priority suggestion board setup
Setup funding process chat channel - 10 minutes
Setup priority suggestion board - 60 minutes
Invite community participation - 1200 minutes
Review suggestions - 240 minutes
Total - 1,510 minutes
Contributor proposal setup
Setup GitHub and GitBook - 120 minutes
Invite community proposals - 1200 minutes
Invite community proposal feedback - 300 minutes
Verify and approve proposals - 600 minutes (30 minutes per proposal and proposer verification, 20 proposals submitted)
Setup and share contributor proposal submission feedback questionnaire - 70 minutes (30 minutes creating questionnaire, 2 minutes per share with proposer, 20 proposals submitted)
Review contributor proposals - 120 minutes
Total - 2,410 minutes
Finalise funding process
Finalise decisions & parameters - 180 minutes
Setup questionnaires - 90 minutes
Setup chat channels - 30 minutes
Finalise funding process information - 120 minutes
Share funding process - 300 minutes
Total - 720 minutes
Voting
Setup voting submission form - 20 minutes
Setup voting form - 60 minutes (3 minutes per contributor, 20 proposals submitted)
Invite voter participation - 120 minutes
Process voting results - 180 minutes (3 minutes per voting file, 30 voters participating, 90 minutes creating summary page)
Share contributor selection decision feedback questionnaire - 120 minutes
Total - 500 minutes
Contributor onboarding
Invite contributors to join chat channels - 120 minutes
Support setting initial contribution tasks - 360 (120 minutes per contributor, 3 selected contributors)
Total - 480 minutes
Monthly contributions
Respond to community questions - 1,080 minutes (180 minutes, 6 month contribution period)
Support prioritisation decisions - 1,080 minutes (180 minutes per month, 6 month contribution period)
Support planning and collaboration efforts - 2,160 minutes (120 minutes per contributor per month, 3 selected contributors, 6 month contribution period)
Review and approve contribution logs - 1,080 minutes (60 minutes per contribution log, 3 selected contributors, 6 month contribution period)
Release contributor payment - 180 minutes (10 minutes per contributor, 3 selected contributors, 6 month contribution period)
Total - 5,580 minutes
Funding process completion
Share contributor peer review questionnaire - 180 minutes
Share voter feedback questionnaire - 300 minutes
Share contributor feedback questionnaire - 300 minutes
Analyse and present funding outcome results - 2,400 minutes
Total - 3,180 minutes
Total estimated participation time
229 hours 40 minutes (910 + 2410 + 720 + 500 + 480 + 5580 + 3180 = 13,780 minutes)
Total estimated cost to participate
$8,727.33 ((13,780 minutes/60) * 38)
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