Grants Committee Weekly - 6/23/23
Attendance
Date
Jun 23, 2023
Last Edited Time
Jun 23, 2023
Last edited by
Note-taker
Recording
Multi-select
Action Items
Accounting
(links to fill in)
- BANK for the remaining of the season:
- 3,900,000 BANK
Funding
(TEMPLATE) Project: Name_of_Project
Speaker: discord_username
Ask: amount_of_BANK
KPIs
- mission_KPI
- self-sovereignty_KPI
VOTE: Do you agree to fund x as stated in the above proposal with the KPIs mentioned above?
- Yes:
- No:
- Abstain:
THIS MOTION PASSES/FAILS
🗳️Project: Crypto Poker
Speaker: Oluwasijibomi
Ask: 1,336,000 BANK
Play to learn?
- treat the game as a way to onboard web2 folks onto…?
- learn about NFTs, etc
- they are not earning anything
Why is BANK needed? What will the CP token do?
- the CP token is similar to coins on candy crush - it’s coins in the platform to deal hands, etc
- no economic value or benefit or anything like that
- UK law says this is ok
Bankless brand
- if you are going to distribute BANK, the Bankless brand should be prominent
- in this case - Bankless brand should be on the card backs or something
- THEY WILL NOT BE DISTRIBUTING BANK
- but there is some BANK distribution in the demo?
How is the legal/compliance being taken into account?
(answers from theunknownsoldier#6885, legal person on the project)
- it’s not a game of chance: it’s a learning platform where you are awarded by CP tokens
- removes the risk factor of the users
- and it’s not as regulated as other crypto platforms - not as high risk for devs or people who are playing
- there is no fiat currency involved - they don’t pay or subscribe to get on the platform
- BANK token is given for referrals only - if someone refers someone else, they are rewarded in BANK
- company is registered in the UK, all of the above is legal in UK law
- theunknownsoldier#6885 originally looked into this with a gambling license, but had a deep conversation w/ team and it turns out it’s not a game of chance
Ray will not vote yes for this proposal until this project asks for grants from Polygons
- a commitment to ask for a grant from polygon
Things GC has asked for in a new proposal
- much more clarity around the legality of the project
KPIs
- sovereignty KPI:
- Secure an external-to-DAO partnership (event sponsor)
- Secure a Grant to extend project financial runway
- Impact KPI:
- Average of 30 monthly users in the first quarter after launch
- Build an amazing promotional event (September) to raise exposure and awareness for the project and of Bankless DAO as product incubator.
VOTE: Do you agree to fund Crypto Poker for 1,336,000 BANK as stated in the above proposal with the KPIs mentioned above?
- Yes:
- No: DAOlexa, p8ul, raybankless, Steff, links
- Abstain:
This funding request will be discussed async due to legal concerns.
Based on that funding will go forward or be voted on.
THIS MOTION PASSES/FAILS -
Discussion
(TEMPLATE)Discussion Item 1 - Internal Grants Discussion
VOTE: Do you agree to x as stated in the above proposal?
- Yes:
- No:
- Abstain:
THE MOTION PASSES/FAILs
Notes