Board member Yat Siu answers community concerns on ApeCoin DAO salary payouts

cointelegraph.com:

Leaders of the decentralized autonomous organization (DAO) governing the ApeCoin (APE) ecosystem have been criticized by community members for what they described as “insane” salaries after the sums were published in an organizational chart. 

On June 10, the ApeCoin DAO secretary, who goes by “Vulkan,” published an organizational chart on Twitter detailing the salaries of the DAO’s leadership. This showed salaries ranging from $7,000 to $75,000 per month, shocking some community members and prompting a slew of inquiries from others.

creating an org chart: $7k / monthmanaging a forum: $24k / monthsupervising stuff: $27k / monthbeing “special”: 104k / monthwatching our bags go down 90%+: pricelessthere’s some things $APE can’t buy. for everything else, there’s ApeCoin DAO. pic.twitter.com/Qla0Gspe2d

One Twitter user described the salaries as “insane” and said the DAO may be “burning cash on nothing.” According to the community member, they had no idea what the “special council” was doing to deserve $20,000 per month. 

In the organizational chart, the so-called “special council” is in charge of administering DAO proposals. Because of this, the Twitter user also asked the community if anyone could remember whether any proposals were passed in 2023.

Related: Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC

Meanwhile, a community member who goes by Michael tweeted that the council jobs, if done properly, could justify the amounts for the right people. However, the community member added that “100k to mod a forum and another to supervise though is lols.”

One community member described the salaries as being “insanely out of touch,” while another Twitter user accused those who made this decision of being