💰 Getting paid

As a core contributor and those with services agreements with IFT, you'll need to send your PDF invoice to the Billing inbox ([email protected]). Here, you'll find helpful information about deadlines, formats and other requirements to ensure your invoices are processed correctly and you receive timely payment.

Invoices due date

Send your invoice in a PDF format to ([email protected]), latest on the 15th of every month. Your invoicing period is the current calendar month (i.e., invoice by October 15 for your services from 1 - 31 October).

What to include

You need to include your total approved expenses per category in your invoice (and these should be submitted separately via Spiff). Check out expense reimbursements for more details on this topic.

Invoice I

Your invoice should include:

  • Your legal name (or legal entity) and address as per your agreement.
  • A unique invoice number (this number should be sequential based on your invoice numbering, if you have any questions, please reach out to the Finance and Accounting team, or your accountant, if you have one).
  • The date the invoice is issued.
  • Payment due date.
  • The date range of the invoicing period according to your agreement (i.e., "March 1 to March 31").
  • Description of the service rendered or reference to your contract.
  • Total approved expense reimbursements per category as per the expense reimbursements guide.
  • According to your agreement, the full fee and the fiat currency (in CHF, USD, EUR, or other).
  • Your contributor number as per your BambooHR profile.

Invoice II

You can create an invoice by downloading/copying this template. Please remember to download the finished invoice as a PDF before sending it and that the exported PDF is on a single page.

Address the invoice to IFT Studio Pte. Ltd, 160 Robinson Road, #24-09, Singapore 068914.

There are exceptional cases where another legal entity applies. Please use the company and address as detailed in your agreement.

Payment method

Bank and Wallet details

Please maintain your details on your BambooHR profile if you have one. For simplicity, we only allow the indication of one wallet and one bank account (if you have intermediary accounts, please use the appropriate fields of the Bank Information section). You can edit it directly if you want to change the % paid in ETH, DAI, or SNT. Once you save it, BambooHR will send an approval request to the Finance team —the reason is so that we get a notification that something has changed and can update our payment records timely.

Only after we confirm the approval, will your changes be reflected in your BambooHR profile. If you need to change your bank details or payment preference, any pending changes will need to be approved first, in order for you to be able to make a new change.

If you need a specific reference to complete this payment, please state it explicitly on your invoice.

⚠️ To make sure that your changes are considered for the current month, change your info before the 15th of each month. Remove accented or special characters. We can only correctly upload plain text to the system.

Please be sure that your services agreement reflects your registered address for banking purposes, as our bank sometimes asks us to validate that banking details match contract details.

Getting Paid in Crypto

If you are new to crypto payments and wallets, this guide provides a good introduction.

We recommend using a hardware wallet like the Ledger Nano S or a Trezor to secure your assets.

Don't be shy to ask your more experienced core contributors in the #finance channel on logos discord or Status app when you have questions about crypto payments and wallets. Not everyone starts with the same level of knowledge, and building it up is part of working with IFT.

Rate Calculation

For determining rates when paying in crypto, we establish the following two rates: using coinmarketcap.com as a price source, and the rate which is most attractive for the individual receiving crypto:

  • The average closing rate across the last five days of the invoiced period, OR
  • The current rate when payments are being issued.

You can change your crypto split % preference monthly. Just make sure you update your preferences before the 15th of each month.

Special situations

December pay

Due to operational considerations in December, we might bring forward the December payment run. Please be aware of date changes for the December payment run.

Hourly rate contributors

If you're paid on an hourly basis and need to estimate your hours in the remainder of the month and reconcile them in the next invoice (as you'll be invoicing by the 15th of each month), it's ok to do that, or you could carry forward actual hours to your next invoice.

If your fees have been agreed on an hourly rate basis, the monthly cap for hours billed is the fee equivalent to a monthly amount (or the calculated monthly equivalent) specified in your agreement with IFT.

Please discuss with People Ops if you intend to bill over this amount.

During your first month

For your first month (if your Fee is stated as a (maximum) annual or monthly amount), please only state the amount in your invoice to reflect the period of time you actually contributed.

Example: If after you started providing your services, you contributed 10 (ten) days in March, your monthly invoice amount will be {your monthly fee amount}/30 x 10.

Expense Reimbursements

From time to time, you might need to pay reimbursable expenses for the development of the project. To read more on how to get reimbursed for these expenses, please follow this link.