NDC Trust - Remunerations

Dear Community,

For transparency, we would like to outline the amount of monthly remuneration that the Trustees and the Enforcer will receive in connection to the operations of the NDC Trust, which officially started in mid March.

The remuneration has been established in accordance with the NEAR Foundation (the “Settlor”) based on several elements; among others:

  • The responsibility connected to the role;
  • The preparatory work that has led to the design and set-up of the trust;
  • The weekly commitment for the evaluation of the assessment of the funding requests;
  • The organizational commitment for the disbursement of the grants, in the absence of a tokenized governance process;
  • The legal and accounting duties related to the roles of Trustee and Enforcer.

In the light of the above, each of the five Trustees will get a monthly remuneration of USD 2500 in NEAR tokens, whereas the Enforcer will get a remuneration of USD 3500 in NEAR tokens. The total monthly expenses for the roles of the Trustees and the Enforcer will therefore amount to USD 16000 in NEAR tokens.

The indicated amounts will apply for 6 months (from April 2023 to September 2023). After this initial 6 months period, the remunerations will be re-discussed between the Settlor and the Trustees/Enforcer, in taking into consideration feedback and proposals of the NEAR community.