Grants Committee Weekly May 16, 2022
Attendance
links, Icedcool, Rene, jameswmontgomery, lion917, Chuck
Date
May 16, 2022
Last Edited Time
May 16, 2022
Last edited by
Note-taker
Recording
Multi-select
Action Items from Previous Meeting
Icedcool to create a system of async KPI submission from projects
Rene to look at continuous KPI reporting flow after we get the first KPIs
Icedcool to distribute the KPI form
Icedcool to make an announcement about seasonal funding in announcements channel
Rene, Chuck, Jameswmontgomery have read it
lion read it
Icedcool and Kouros to read it
Links to set up a new S4 project submission form w/ Kouros
Next steps for KPIs?
- we need some way to “Accept” and “Verify” them
- links will take this on
links to set up KPI acceptance flow
- Rene will star on KPI reporting framework next week
- Do we have an overview of the project champions somewhere?
- Not really - but we will need this if we want to track them
0xRene to look at this
Accounting
We are still between seasons, so this section will be skipped
- Bank for the remaining of the season:
- Average BANK per week left :
- Grants Committee Funding tracking
Discussion
Aysnc Voting
Point of clarification: if there is ONE vote for discussion, then we discuss
- yes - if a single vote is discuss, then we discuss
VOTE: Do you agree to allow async voting for Grants Committee as stated in the above proposal?
- Yes: links, icedcool, 0xrene, jameswmontgomery, lion917, chuck
- No:
- Abstain:
THE MOTION PASSES
Project: Crypto for Creatives Website
Speaker: Jonah#5913
Ask: 18K BANK
Would like to be a voice for web3 at Ryerson University
- would like to advocate for web3 education in the university itself
- lofty goal: partnership opportunities between BanklessDAO and Ryerson (now known as TMU - Toronto Metropolitan University)
is a communication major
- likes to teach others web3 - and that’s what this website is, he built it for people to learn about crypto
- using techniques he learned at TMU
- MVP is already built - wants to use bDAO branding (kind of like a sponsorship)
- wants to bring in Bankless content as well
Goals
- get as many eyes on it as possible
- wants to present in-people
- audience - emails or twitter or whatever, allows you to re-engage people who used your site
KPIs
- # visits to the site
- # people at an in-person presentation
- # people in audience (i.e. Twitter, emails, etc)
BANK Utility?
- long plans to get people onboarded onto the BanklessDAO ecosystem
- perhaps a way to have a mentorship program?
- but unsure if students will pay for education
VOTE: Do you agree to fund Crypto for Creatives as stated in the above proposal with the KPIs mentioned above?
- Yes: links, icedcool, Rene, jameswmontgomery, lion917
- No: Chuck
- Abstain:
THIS MOTION PASSES
Project: bDAO Legal Entity Wrapper Research
Speaker: lawpanda#9705, DAOLAW#1029
Ask: 200K BANK
The Legal Guild is working on this project
- Eagle and Lion917 have been wanting to do this for 6-9 months, but it’s been a regular fixture at legal meetings about this.
- A case: the governance can be held personally liable, as the default structure is partnership
Also important to subDAOs
- Bankless Consulting collects money for a service - this is a target for liability
we’re not going to be making money for the DAO
- this is mainly about giving something valuable tot the community and reducing risk
it’s a service to the DAO - should this be done as part of the guild budget?
- Legal Guild is not the lawyer of the DAO, this would open liability to contributors
- guilds are for talent gathering, not necessarily projects
VOTE: Do you agree to fund bDAO Legal Entity Wrapper Research as stated in the above proposal?
- Yes: links, Icedcool, jameswmontgomery, Chuck, Rene
- No:
- Abstain: lion917,
THIS MOTION PASSES
Project: DEGEN
Speaker: JonValjon.eth#5554
Ask: 1,188,674.73 BANK
DEGEN forum post has not achieved quorum as per this snapshot: https://snapshot.org/#/banklessvault.eth/proposal/0x0eb29303825c37c67ddc5d71b199bbc66c149712918c2a7c9261c7f6a2953d66
VOTE: Do you agree to fund DEGEN as stated in the above proposal?
- Yes:
- No:
- Abstain:
Project: Bankless Brasil
Speaker: joaoh.eth#5174
Ask: 2,500,000
They have adjusted their ask to 2.5M BANK in the last week, discussion here: https://discord.com/channels/834499078434979890/973655988907438080
Would you be open to subDAO tokenization?
- yes
- worried about some thing
- big enough community
- worried about value being accepted
- worried about it being a blocked
1.25M now and then 1.25M BANK paired to a BanklessBr token?
- Icedcool will be attached to this - ensuring that tokenization happens
- would the timeline work for this? is 6 weeks enough time?
- yes it seems like enough
How did you reduce your ask? What was cut?
- They had events being planned, they cut it
- They plan to cut some design and marketing
- Some projects were stalled - they had planned on reviving, but instead they will concentrate on what’s working
- they will also reduce growth rate target of 40% , maybe 33%
- it’s very difficult to estimate spend to growth based on diminish returns
lion would like to understand each project spend - how much is spending and what are the # of contributors and what is the outcome (reach)
- then you can know winners and losers
- there is a spreadsheet which includes some of this info in the forum proposal
How would adding a new token for BanklessBr affect the BANK economy?
- first: it’s an experiment...so we’re not 100% sure
- since we have a BANK <> BANKbr LP, you have to buy BANK to get BANKbr, therefore value accrual to BANK
VOTE: Do you agree to fund Bankless Brasil for 2.5M BANK?
- 1.25M now, and 1.25M later per KPI review
- Yes: jameswmontgomery, links, lion, Chuck, Rene
- No:
- Abstain: Icedcool,
THIS MOTION PASSES