Grant Committee Season 1 Spec Research
Attendance
Date
Sep 6, 2021
Last Edited Time
Feb 18, 2022
Last edited by
Note-taker
Recording
Multi-select
This write up is a follow up based on the Grants committee needing clarification to the Season 1 Spec and the Grants Committee terms definitions.
Season 1 Snapshot:
Grants Committee Application:
Key Notes:
- Overall Grants Committee Specifics:
- Quorum with 5 members.
- Election:
- To stagger the transition from Genesis Grants Committee to future grant committees, three of the seven initial members will only serve three months before re-applying. These three will be selected at the discretion of the Grants Committee.
- Vacancies:
- When there is a vacancy on the Grants Committee, there is a two week period where anyone can volunteer by submitting an application.
- Any candidate that receives 30+ votes and 66%+ approval moves on to a snapshot vote for a final decision from the DAO.
- Committee Recall (dismissal)
- 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.
- Positions:
- Grants Leads:
- Responsible for organizing the program and ensuring that things move smoothly and efficiently.
- There are two Grant Leads to ensure there is not a single point of failure.
- Serve a 6-month term and can resign at any time. The committee will elect two Leads from within the group of 7 reviewers.
- 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.
- 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. Serve a 6-month term and can resign at any time.
- Treasury:
- Any unused funds are to be retained for future use.