Leader of the Decentralized Autonomous Organization (DAO) that governs ApeCoin, after the sum was announced in the org chart, the ecosystem was criticized by community members for what they called a “crazy” salary.
On June 10, the ApeCoin DAO secretary, nicknamed “Vulkan,” tweeted an organizational chart detailing the salaries of the DAO leadership. That suggested wages ranging from $7,000 to $75,000 a month shocked some community members and sp arked a flood of inquiries from others. One Twitter user described the salary as "crazy" and suggested that the DAO may be "burning money for nothing". According to the community members, they have no idea what the "special committee" does to get paid $20,000 a month.
In the organizational chart, so-called "ad hoc committees" manage the DAO proposal. Because of this, the Twitter user also asked the community if anyone remembered if any proposals were passed in 2023. Meanwhile, another community member, who identified him. self as Michael, tweeted that the work of the council could justify the amount being given to the right person if done right. However, a community member added, "100k modifies one forum and another oversees it lols."
One community member described the salary as "insanely out of touch," while another Twitter user accused those who made the decision of being "out of touch with reality." Responding to concerns raised by the community, ApeCoin DAO board member Yat Siu claimed in a Twitter thread that the compensation paid corresponds to "the role's responsibilities and obligations." According to Siu, different industries pay more due to risk and liability, noting that both the crypto and Web3 industries have a lot.
The board member said that while not identical, the special committee role has some similarities to executives at midsize companies, who are paid similarly. “The importance and duty of care that comes with servicing a multi-billion dollar DAO and the associated risk s and responsibilities of each member is real and serious,” Siu tweeted.
In the post, a community member asked if someone making $20,000 a month had a resume comparable to a public company director. Siu responded that not all of them are typical public board director candidates, but he said that's what makes DAOs so exciting ting. According to Siu, this proves that people without typical backgrounds can excel when given the opportunity.
