This WIP Page includes:
Grants Committee
- Mission, vision & values
- Operating process
- Funding Process
- Decision Process
Grants Committee Governance Decisions
Possible unclear processes
Mission
Why this is important:
- In order to effectively execute our mandate, we need to understand our goal and how we are going to achieve it.
Current version
“This committee is responsible to vet groups seeking midseason funding and consequently ensure funded entities provide ongoing transparency into the state of their development.
The grants treasury will be used to fund projects that are ready to start mid-season and can’t or shouldn’t wait for the next season for funding. The treasury can also fund projects that don’t align with the current DAO priorities but align with its mission and values and warrant funding.”
Updated portion
To support BanklessDAO members by vetting and funding projects that align with the Bankless mission while maintaining transparency and accountability throughout the stages of project development and subsequent release, by providing the organizational means for reporting goals, KPIs, success metrics, and all the information necessary for the BANK distribution review process of this Committee.
Grants Committee
Grants Committee
This committee is responsible to vet groups of BanklessDAO members seeking BANK distributions and ensure these groups provide ongoing transparency throughout all stages of development.
The grants treasury will be used to fund projects that are ready to start mid-season and can’t or shouldn’t wait for the next season for funding. The treasury can also fund projects that don’t align with the current DAO priorities but align with its mission and values and warrant funding.
Grants Committee consists of 5-7 members along with a multisig with all committee members as signers. The Committee has a quorum with five members but is otherwise responsible for its own operations. The Committee cannot change the application process to be a Committee member without a snapshot vote and is encouraged to accept the DAO’s proposal template. The Grants Committee is required to be transparent and communicative with the DAO, such as access to Committee meetings and an opportunity to voice opinions and feedback.
Grants Leads are key individuals responsible for organizing the program and ensuring that things move smoothly and efficiently. The lead will likely dedicate a significant amount of time to the program. There are two Grant Leads to ensure there is not a single point of failure. Grants Leads serve a 2-season term and can resign at any time. The committee will elect two Leads from within the group of 7 reviewers.
Grants Reviewers process applications, weigh in on discussions surrounding budget planning, ensure that the lead is acting in good faith and is effective in their role, and will operate a 4 of 7 multisig which disburses funds to grantees. The reviewers will also hold the program accountable to its goals and objectives and return any excess funds to the Bankless Treasury. Reviewers are likely to dedicate a smaller amount of time to the program. Grants Reviewers serve a 2-season term and can resign at any time.
When there is a vacancy on the Grants Committee, there is a period where anyone can volunteer by submitting an application on the proposals section of Discourse that includes:
- Discord handle
- Reason for applying
- Qualifications
- Sponsor(s) (i.e. someone who will second your nomination)
The submission period will remain open for one week before the end of the current season, after which submissions will be taken to Snapshot. Submissions can be made here. One week prior to the end of the current season, applications will be uploaded to Snapshot and decided on by a weighted snapshot vote, and the highest four voted applications will be elected into the Grants Committee.
Any unapproved candidate can gather feedback, improve their resume, and resubmit for future vacancies. Committee members can be recalled with a 51%+ Snapshot vote. Committee members can leave the Committee at any time by submitting a written resignation note to the Committee. See: Grants Committee Notion Page
Portions of the constitution related to GC
