UMA Project
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UMA Project

UMA — Building Decentralized Talent Referrals

Tl;dr: UMA protocol can be used to incentivize talent referrals. The people likely to both understand the unique opportunity to work for UMA and know the best talent are probably not headhunters. Therefore, we propose using “Referral Options” tokens to incentivize referrals. Participating in this system will not require any identity information or clout with regards to the referrer.

UMA will test this method by offering referral rewards paid out on certain milestones, worth ~$25K at current UMA prices (the option is denominated in $UMA, so the USD value will depend on the price at that point in time.)

Talent Referral Options

We value our community and trust that it’s in both of our best interests to grow our team with the highest quality talent in the industry. We also value that our truly global community can offer diverse perspectives and introduce us to talent pools around the world that we may not have otherwise found. Both passive and active candidates may not realize how exciting UMA is, and that they could be part of a core team that is working on cutting edge DeFi innovations that will change the traditional financial system as we know it.

We believe our community is best equipped to represent the experience of being a part of UMA, as well as is likely to know top-tier candidates personally.

At UMA, we have arrived at a solution to our talent problem using our very own infrastructure.

Forget long term contracts and restrictive third parties, we want to work directly with our community in a way that doesn’t require us to know your identity, your background, or if you’ve successfully recruited technical talent in the past.

We think this may also reduce unconscious biases that we actively try to eliminate within our hiring process.

We know that recruiting high quality talent to switch roles isn’t easy, so it’s important that those dedicating their time to our growth are compensated. People, after all, are our most important asset and we appreciate your energy, effort, and dedication to helping us succeed in growing our talented team. As a result, we put together a ‘talent referral options’ program, so that anyone external to the UMA team can contribute to our recruiting process!

Context

We have built an incentive structure that encourages our community to help grow the core UMA team with high quality individuals. We strive for top tier talent and a growth rate that is aggressive but responsible. We have an opportunity to increase our qualified candidate leads by incentivizing our community to help us reach passive and actively seeking talent who may not have considered joining UMA (yet).

The recruitment industry at large, is about filling vacancies; however, we’re all about building a solid team that will grow together to withstand any ebbs and flows. Fundamentally, people are at the core and coming at recruitment from the perspective of aligned long-term growth (for the talented individual and the project) is what matters. We don’t just want to fill vacancies, we want our communities’ perspective on who is best for the long term. We want people who care deeply about the people and the project.

Core Idea

UMA is actively seeking multiple roles for which we’d like help from the community finding talented individuals.

A series of talent referral rewards will be given to the individual who introduced UMA to the candidate based on milestones in the hiring process. These will be real ERC20 tokens paid out to the referrers wallet!

How it works

  1. If the candidate passes our initial qualifications screen, an UMA team member will reply to the email given in the form and request that the candidate applies via Angel (so we can keep all candidates within one platform).
  2. The candidate must then successfully apply on Angel and set up a screen interview call. Upon successful completion of the screen interview by the candidate, the introducer will be rewarded 50 $UMA tokens (~$1,250*).
  3. If the candidate makes it through our standard hiring process, and is hired, introducer will receive 150 $UMA on the new hire’s first day (~$3,750*). The introducer will also receive a synthetic token. This token will payout 1,000 $UMA under the condition that the new hire/candidate successfully makes it to the 12m anniversary (~$25,000*).
  4. In 12 months, the option token the token will expire. UMA’s optimistic oracle will report if the candidate is employed with UMA. If they are, the token will expire worth 1,000 UMA. If they are not, it will expire valueless.

*The final USD amount is subject to the current price of UMA at the time of payout for each milestone.

Note: The introducer will share their wallet address and their email on the form, UMA will then track the candidates progress and trigger a payout when a milestone is achieved.

Milestones and Payouts

Payout matrix

Stipulations to Highlight

  1. Only candidates referred for active job postings qualify
  2. Only applications received via Angel will qualify (the name in the application must match the name on the submitted referral form)
  3. External recruitment companies do not qualify, this program is intended for individuals in the ecosystem.
  4. Individuals cannot refer themselves.
  5. Each milestone must be successfully achieved and approved by UMA in order to be deemed eligible for the reward.

Talent Referral Form

Please use this link to complete the talent referral form. If the candidate does indeed pass our initial screen, someone from the UMA team will get back to you and request the candidate to apply (with a link to the job posting) via Angel. In this email, it will explain the next steps required in order to achieve the first milestone and first reward. The candidate must apply within 1 week of the requested application email from the UMA team.

Please ensure that if an application is requested the candidates name matches the name you submitted on the referral form, and that the candidate applies via the Angel platform only.

Have fun, join the discussion on Discord and Discourse, and thanks for joining us on our mission!

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UMA is a decentralized financial contracts platform built to enable Universal Market Access.

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