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Contributor Compensation

Contractors

The term “Contractors” encompasses both corporate contractors and independent contractors who work with ExchangeCoin. Corporate contractors are companies that provide services to ExchangeCoin and usually have a number of contributors working on the project under their employment. On the other hand, independent contractors are individuals who contribute to ExchangeCoin on a project basis. If you’re interested in contributing to the project, you can visit the “Overview” page for more information. Contractors can participate in a variety of areas, such as software development, design, communications, community support, research, and documentation.

Billing and Payments

At the end of each month, both corporate and independent contractors submit their invoices to PM Privacy Matters LTD for the work done. The invoice includes the list of items worked on and the charge (in USD) for each, calculated based on the agreed hourly rate for the number of hours worked. These USD amounts are then converted to EXCC at the average daily market rate for the previous month.

Payments to all contractors are processed on the same day once all the invoices are received and processed. This usually happens in the middle of the following month, around 2-4 weeks in. While the aim is to make payments as quickly as possible, the process takes time and depends on timely invoicing by contractors.

Since the EXCC/USD conversion rate is fixed to the previous month, contractors are exposed to any volatility in the price of EXCC during this period. It is recommended that contractors plan their finances accordingly, considering that prices can decrease or increase before they receive their payments.

Pay Rates

The hourly payment rate for contractors varies based on their domain of work, such as marketing, development, and design, as well as the nature of their work. For example, a developer working on critical consensus code will be paid more than a developer working on casual web development. The rate may also be adjusted for new contractors after they have delivered consistent work at an acceptable standard.

It should be noted that the rate offered to a contractor is not adjusted based on geographic location due to the difficulty of validating each other’s locations. Instead, rate is determined solely based on the quality of an individual’s contributions.