Trends in Web3 Compensation
Compensation in crypto can be a very contentious issue. It is also deeply personal, and often not comfortable to talk about. As demand for talent outstrips supply, compensation in Web3 is on average higher than Web2. According to Angellist, salaries in crypto tend to be 10% to 20% higher. This is for both technical and non-technical roles.
The fact that Web3 broadens the spectrum of possibilities for compensation is still wildly under-appreciated (but this shouldn’t be the case).
Let’s unwrap this a bit. Projects and DAOs have the ability to design compensation as creatively as they want to. They can choose to keep it simple or make it sophisticated in order to make it more appealing for contributors to the space.
Web3 projects and DAOs have more compensation options at their disposal in comparison to their counterparts in Web2 (see image):
The creative variations in compensation has led to a growing number of tools that DAOs or Web3 projects utilize to simplify the execution of these forms of execution.
Sablier or Superfluid are example tools which can help you manage these cashflow routines pretty well. Many DAOs use tools like Coordinape to help members collectively allocate compensation to other members based on their contributions. Also CollabLand has proven to be a neat tool that makes tipping easier.
There’s also a trend where projects and DAOs are combining different schemes together and providing compensation based on hybrid strategies.
Keen to learn more about other Web3 native tools? Check out this DAO Tooling Matrix.
Here’s another example by Yearn Finance of how a DAO designs its compensation:
Compensation composition
According to a recent report by CoinMarketCap, those working in Web3 tend to prefer getting their salary in a mix of crypto and fiat, with stablecoins being the most popular form of payment.
While getting paid in the company’s native token might still be small, this could simply be early signs where, as Web3 becomes more mainstream, the proportion for native tokens grows.
Compensation by roles
In the report by Coinmarketcap, the best paid roles are in Engineering with average figures almost doubling between 2020 to 2022 ($68k to $140k).
This is just a sneak peak of everything we've researched about trends in the Web3 Jobs and Talent Market. Here's the full version of our market review:
tr3butor Insights
State of Web3 Talent: Decoding the Jobs Revolution by tr3butor
Packed with insights and data on the state of the talent market for Web3. This article is a must read to understand where we’re at, what the gaps are and what tr3butor is doing to help fulfill the Internet of Jobs revolution.
👉 Read Full Piece >>
We believe it’s critical to understand all the trends and gaps in the Web3 talent market and this is why we’re about to launch our own research survey which we have highlighted in our previous newsletter.
Now let's get to other topics.
tr3butor Updates
✅ 54 Web3 organizations are already listed on our platform. We’re driven to continuously bring you more exciting opportunities to connect with great projects or get matched with talented contributors.
✅ These are the latest organizations to list opportunities with us:
Messari, the leading crypto market intelligence product that helps professionals navigate crypto
OpenSea, the world’s first and largest digital marketplace for crypto collectibles and NFTs
BadgerDAO, a decentralized finance (DeFi) application built on Ethereum
Check out more exciting projects & DAOs here >>
✅ We’re working on juicing up our community experience in Discord. Join us now! We plan to reward the first 250 Talent Market Survey participants and the first 250 OG community members with our Whitelist (stay tuned for details).
✅ We've started our pre-seed round process and have already received our first commitments and a lot of great feedback and support. 🙏
Project Spotlight
As we continue to grow our ecosystem we strive to feature projects that our community would find interesting:
Harmony
Harmony was one of the protocols first to implement sharding on a mainnet. Sharding refers to when a single blockchain is split up into smaller pieces. Harmony is able to achieve finality in about 2 seconds. A normal transfer is extremely cheap and costs roughly $0.00000105. Can you even imagine what this means:
It's just one of the many reasons why we think Harmony is awesome.
Built as an interoperable layer-2 protocol on Ethereum, Harmony makes it easier for developers to design decentralized applications (DApps) that enable frictionless, cross-chain token swaps.
Harmony uses a distinct PoS mechanism - effective proof of stake (EPoS) - which allows many nodes to be involved in network operations, including the improvement of sharding. The purpose of EPoS is to improve network delegation and ensure correct reward compounding, without compromising the decentralization of the network.
Harmony is the brain-child of Dr Stephen Tse, a skilled cryptographer who was a core developer of Google Maps and founded a start-up acquired by Apple.
If you want to explore impactful missions on Web3 that are also rewarding, check these exciting quests for Harmony:
100 Ports Program ($50k-$250k)
Harmony wants you to port your project over from other protocols. This is extremely useful for those of you who’re already building on other chains and want to port over to include Harmony. This grant will help you access a new user base. It’s great for P2E projects, investment DAOs, portfolio dashboards and other event and collectible curators.
Have a Web3 app idea? This is the perfect opportunity to launch one. Harmony will support you with a $50k grant and help incubate your founding team with product development, fundraising and talent recruitment.
Bring Collab.Land to Harmony ($2000 in ONE)
Looking for some dev work on the side and want to toy with the Web3 stack? Help bring Collab.Land to Harmony to empower more artists and DAOs in the ecosystem. Your main mission would be to make a port or add existing support to collab.land bot to allow access to Discord/Telegram communities depending on HRC token holdings with a Harmony wallet.
👉Check out the open quests with Harmony >>
Latest Quests
Check out the latest cool missions, opportunities and rewards in Web3.
Akash Network
Developer Relations Lead
Become the head honcho for Developer Relations at Akash Network. You will be responsible for the strategy and execution of the initiatives which will include education, content, outreach, and connection to the Web3.0 community.
👉 Join the mission >>
Perp Protocol
Movr Bounty ($10K)
Create a Front-End for the Fundmovr app that is more directed toward users of Perpetual Protocol, focused on receiving assets in USDC or ETH
👉 Grab that bounty >>
Maker
Lending Analyst
This is your chance to abandon tradfi and join DeFi for real. Maker is looking for talent with relevant experience in the commercial or investment banking sectors. This is your opportunity to learn the ropes around DeFi.
👉 Join the mission >>
UMA
Product Lead
Have you successfully built and shipped web2 or web3 products at scale? UMA is looking for a Product Lead with knowledge of the DeFi space who can take early stage products to scale.
👉 Join the mission >>
Akala
Grant (up to $50K)
Akala is funding technical projects that add value to the Acala & Karura ecosystem - ideally with a proof-of-concept to be deployed, maintained, and operated after completion of the grant.
👉 Get that grant >>
Want to feature your Web3 project’s quest?
Do you want to recruit Web3 talent? We can help you with this.
👉 List your project & talent opportunities on tr3butor >>
Web3 Brainfood
Check out some dope resources for Web3 talent and organizations.
Grants & Web3 by Joel John
Imagine starting your Web3 building adventure before even having to talk to VCs? Here’s a breakdown of how grant programmes are designed and what founders need to know to extract value from them.
👉 Read Full Piece >>
Growing Crypto Communities by 0xKepler from Deus Ex DAO
Communities can either strengthen or weaken Web3 projects. Deus Ex DAO does a really good job at providing a blueprint to build and manage communities for crypto teams.
👉 Read Full Piece >>
The Ownership Economy 2022 by Variant Team
Showcases the possibilities of new kinds of ownership-based web and also explores how tokens are being used to encourage long-term engagement.
👉 Read Full Piece >>
How to sell your BS “Web3” Idea to a VC by Matti
Possibly a satirical view on how to pitch your Web3 project for funding. However sometimes the line between satire and real life is blurry. On the whole, it’s an entertaining piece.
👉 Read Full Piece >>
Lessons for founders in leading their startups by Dan Rose
Dan Rose has 20 years experience at Facebook and Amazon and reflects on the key lessons founders should consider when leading their startups.
👉 Read Full Piece >>
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