The market for remote work isn't geographically constrained, so it doesn't make sense to make pay offers as if you were hiring in specific geographically constrained markets rather than the unconstrained remote work market.
This all sounds weird for me to say because I certainly want devs to get paid, but this is the reality of the situation
That may indirectly imply some geographical constraints which could affect the shape labor market and the resulting supply/demand math leading to a salary. But it's definitely not what most companies do in their cost of living adjustments.