BanklessDAO
BanklessDAO
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🖊️
Grants Committee
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🗒️
Grants Committee Meeting Notes
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🧠
Grants Committee Strategy Oct 24, 2022
🧠

Grants Committee Strategy Oct 24, 2022

Attendance
p8ul.eth, Rene, links, jengajojo, jameswmontgomery
Date
Oct 24, 2022
Last Edited Time
Oct 25, 2022
Last edited by
Note-taker
Recording
Multi-select
Agenda
  1. Seasonal Budget reviews - questions and concerns
    1. Edu Guild and DAOlationships Guild split into 2: departments and guilds
    2. Projects that ask for “full-time” contributor funding (i.e. 35 hrs/wk from Bankless Academy)
    3. Podcast Hatchery - it seems like their request has gone down, BUT they are only asking for half a season’s worth of funding because they may pivot
    4. With the advent of member-funded guilds, SHOULD we have seasonal project funding anymore?
    5. Projects whose budgets are steadily increasing (i.e. Academy, Crypto Sapiens, Newsletters, TBH pretty much all projects)
     
    Seasonal Budget Reviews
    Working doc: https://docs.google.com/spreadsheets/d/1TUWyXdQLf0k8xVvCBCHV-h3h33XcMV5LCRReBcovFgM/edit#gid=10879918
    ACTION: links to take a second look to ensure projects are there
    • also send out an announcement to ask project champions if they are on the list
     
    Edu Guild and DAOlationships Guild split into 2: departments and guilds
    • they are both asking for 65% more this season (p8ul did the math)
    • is it okay that they split into two?
      • how should we handle this funding?
     
    example: edu guild
    • they were doing a lot of projects (i.e. new joiner sessions, 20 other courses as services) that were funded by the guild, but wouldn’t leave room for upskilling talent
    • so the department would handle all of these courses as services, and the guild would onboard/upskill new educators
     
    issue: can people just make any guild they want?
    • guilds have to be made up of certain talents/disciplines
     
    one issue: twice as many roles?
    • could we combine some roles? arent these going to be connected in some way?
     
    can we justify the creation of both?
    • does grants committee have the authority to create new cost centers like this?
    • shouldn’t the DAO weigh in on new cost centers
    • but doesn’t the seasonal budget go to snapshot?
      • yes…but it’s tied up in snapshot omnibus seasonal bill
    • we don’t have a process to create new entities - this we need to make
     
    so our process for education and daoloationships:
    1. Ask them to select either guild or department to be in seasonal funding snapshot (and the other one goes to a snapshot by itself, as a new vote)
      1. as part of this GC should document the process to create a new department/guild
     
    Projects that ask for “full-time” contributor funding (i.e. 35 hrs/wk from Bankless Academy)
    • is this ok? does this help us achieve our mission? should the DAO be paying people for full-time work?
     
    there are some people depending on the DAO for full-time employment
    • would be hard to enforce less, people could get 10 hours in 4 projects and have 40hrs/wk
    • don’t recommend having full-time for volatility and such, BUT we can’t really handle this right now
     
    from an economic perspective
    • there is a limited amount of BANK - and do these projects have a monopoly on the output?
    • could have milestone-based unlocks, which was difficult to handle in the past, but COULD help us save some BANK and get multiple teams working on these outputs
     
    from a project perspective
    • does it help a project that is a little mature to increase ask to 40hrs/wk?
      • does it disincentivize them to find other funding?
    • the context of seasonal funding (i.e. project can expect funding every season) this creates a strange context because they are pretty guaranteed to get this funding
      • so they are actually incentivized to creep up their ask every season
     
     
    Podcast Hatchery - it seems like their request has gone down, BUT they are only asking for half a season’s worth of funding because they may pivot
    So they have to go through the regular consensus process for this?
    • yes
     
    also they are changing their “product”
    • i.e. were producing podcasts, but now turning into an educational hub on how to create podcasts
    • they are pivoting for the purposes of being self-sovereign
     
     
    With the advent of member-funded guilds, SHOULD we have seasonal project funding anymore?
    how we got here:
    • s0-s1, figureing things out…it was chaotic. We needed a way to keep the lights on. There were a lot of things in motion, and we needed to balance gatekeeping with continually funding existing entities
    • now: now we have a lot more intention, a lot less chaos, we have more chance to think about things, set up a system, how to gain consensus
      • jengajojo’s incubator proposal is an example of this thinking in action
     
    so what can grants committee actually do?
    • we COULD say no to all projects/guilds in seasonal funding - but we probably don’t want to push that button
    • maybe we could run some experiments next season and use the experiments to make some decisions for s7
     
    ad-hoc funding could be a simple way to incentivize projects to be self-sovereign
    • since they don’t know that they will get funded in 3 months, they will be more incentivized to be careful with their BANK (i.e. hold their role holders accountable, tie more BANK to output)
    • since they have to gain consensus before getting more BANK, they will be incentivized to create value/show progress to get consensus
     
    seasonal funding has been a bit of a box for us:
    • member-based guild guild funding and ad-hoc project funding could give us more headspace for long-term thinking
    BanklessDAO
    BanklessDAO
    /
    🖊️
    Grants Committee
    /
    🗒️
    Grants Committee Meeting Notes
    /
    🧠
    Grants Committee Strategy Oct 24, 2022
    🧠

    Grants Committee Strategy Oct 24, 2022

    Attendance
    p8ul.eth, Rene, links, jengajojo, jameswmontgomery
    Date
    Oct 24, 2022
    Last Edited Time
    Oct 25, 2022
    Last edited by
    Note-taker
    Recording
    Multi-select
    Agenda
    1. Seasonal Budget reviews - questions and concerns
      1. Edu Guild and DAOlationships Guild split into 2: departments and guilds
      2. Projects that ask for “full-time” contributor funding (i.e. 35 hrs/wk from Bankless Academy)
      3. Podcast Hatchery - it seems like their request has gone down, BUT they are only asking for half a season’s worth of funding because they may pivot
      4. With the advent of member-funded guilds, SHOULD we have seasonal project funding anymore?
      5. Projects whose budgets are steadily increasing (i.e. Academy, Crypto Sapiens, Newsletters, TBH pretty much all projects)
       
      Seasonal Budget Reviews
      Working doc: https://docs.google.com/spreadsheets/d/1TUWyXdQLf0k8xVvCBCHV-h3h33XcMV5LCRReBcovFgM/edit#gid=10879918
      ACTION: links to take a second look to ensure projects are there
      • also send out an announcement to ask project champions if they are on the list
       
      Edu Guild and DAOlationships Guild split into 2: departments and guilds
      • they are both asking for 65% more this season (p8ul did the math)
      • is it okay that they split into two?
        • how should we handle this funding?
       
      example: edu guild
      • they were doing a lot of projects (i.e. new joiner sessions, 20 other courses as services) that were funded by the guild, but wouldn’t leave room for upskilling talent
      • so the department would handle all of these courses as services, and the guild would onboard/upskill new educators
       
      issue: can people just make any guild they want?
      • guilds have to be made up of certain talents/disciplines
       
      one issue: twice as many roles?
      • could we combine some roles? arent these going to be connected in some way?
       
      can we justify the creation of both?
      • does grants committee have the authority to create new cost centers like this?
      • shouldn’t the DAO weigh in on new cost centers
      • but doesn’t the seasonal budget go to snapshot?
        • yes…but it’s tied up in snapshot omnibus seasonal bill
      • we don’t have a process to create new entities - this we need to make
       
      so our process for education and daoloationships:
      1. Ask them to select either guild or department to be in seasonal funding snapshot (and the other one goes to a snapshot by itself, as a new vote)
        1. as part of this GC should document the process to create a new department/guild
       
      Projects that ask for “full-time” contributor funding (i.e. 35 hrs/wk from Bankless Academy)
      • is this ok? does this help us achieve our mission? should the DAO be paying people for full-time work?
       
      there are some people depending on the DAO for full-time employment
      • would be hard to enforce less, people could get 10 hours in 4 projects and have 40hrs/wk
      • don’t recommend having full-time for volatility and such, BUT we can’t really handle this right now
       
      from an economic perspective
      • there is a limited amount of BANK - and do these projects have a monopoly on the output?
      • could have milestone-based unlocks, which was difficult to handle in the past, but COULD help us save some BANK and get multiple teams working on these outputs
       
      from a project perspective
      • does it help a project that is a little mature to increase ask to 40hrs/wk?
        • does it disincentivize them to find other funding?
      • the context of seasonal funding (i.e. project can expect funding every season) this creates a strange context because they are pretty guaranteed to get this funding
        • so they are actually incentivized to creep up their ask every season
       
       
      Podcast Hatchery - it seems like their request has gone down, BUT they are only asking for half a season’s worth of funding because they may pivot
      So they have to go through the regular consensus process for this?
      • yes
       
      also they are changing their “product”
      • i.e. were producing podcasts, but now turning into an educational hub on how to create podcasts
      • they are pivoting for the purposes of being self-sovereign
       
       
      With the advent of member-funded guilds, SHOULD we have seasonal project funding anymore?
      how we got here:
      • s0-s1, figureing things out…it was chaotic. We needed a way to keep the lights on. There were a lot of things in motion, and we needed to balance gatekeeping with continually funding existing entities
      • now: now we have a lot more intention, a lot less chaos, we have more chance to think about things, set up a system, how to gain consensus
        • jengajojo’s incubator proposal is an example of this thinking in action
       
      so what can grants committee actually do?
      • we COULD say no to all projects/guilds in seasonal funding - but we probably don’t want to push that button
      • maybe we could run some experiments next season and use the experiments to make some decisions for s7
       
      ad-hoc funding could be a simple way to incentivize projects to be self-sovereign
      • since they don’t know that they will get funded in 3 months, they will be more incentivized to be careful with their BANK (i.e. hold their role holders accountable, tie more BANK to output)
      • since they have to gain consensus before getting more BANK, they will be incentivized to create value/show progress to get consensus
       
      seasonal funding has been a bit of a box for us:
      • member-based guild guild funding and ad-hoc project funding could give us more headspace for long-term thinking