Grants Committee Weekly Aug 16, 2022
Attendance
ap0ll0517.eth, jengajojo, jameswmontgomery.eth, links, Rene, p8ul.eth
Date
Aug 16, 2022
Last Edited Time
Aug 22, 2022
Last edited by
Note-taker
Recording
Multi-select
Action Items
Accounting
- Bank for the remaining of the season:
- Average BANK per week left :
- Grants Committee Funding tracking
Discussion
Discussion Item 1 - Grant Committee Responsibilities
To discuss:
- we need someone to take on disbursements that we agree upon:
- we need someone to fill in the accounting section above every week
- we need grants reviewers for all of the projects that have been left by previous grants members: Project List
- we need to gather all KPIs into this doc: S5 Project KPI Measurements
Should we have treasury guild do our accounting? We have 25K BANK for this in our budget
- we are elected, so we MAY not be the best people to do our own accounting (or even rate proposals)
- every single “cell” in the DAO should have some basic accounting capability - if we have the treasury do our accounting, we are setting a bad example
- also
- what is “accounting”? just showing how much we have left?
- it’s also showing where the cash outflows go for transparency
DECISION: Ap0ll0517.eth to take this on
KPI Process
- mid-season disbursements were pretty chaotic last season
- why 6 weeks? because it was a new process last season, so we didnt want to bite off more than we could chew
- why self-sovereignty and mission KPI?
- there were some concerns about projects requesting ever increasing amounts of funding season over season, therefore self-sovereignty KPI
- value alignment to DAO = mission KPI
ACTION: jengajojo to create the async project workflow
Project: DAO Dash
Speaker: RunTheJewelz#7931
Ask: 850,000 BANK
KPIs?
- mission_KPI
- self-sovereignty_KPI
VOTE: Do you agree to fund 850,000 BANK as stated in the above proposal with the KPIs mentioned above?
- Yes:
- No:
- Abstain:
THIS MOTION PASSES/FAILS
Project: Bankless Academy
Speaker: Tetranome🏴#1965
Ask: 595,920 BANK
During S3 there were bonus funding allocated by grants Committee
- in S4, they achieved the KPI and set it with Grants Committee to get that funding
- so they have achieved the KPIs and want the funding
Note: where does the funding come from?
- technically, it should have come from S3 “liability” or treasury, not mid-season disbursement
- ACTION: for ap0ll0 to create the transacation for this
- this task is complete
ACTION: links to create a ticket for the async “end time” for the GC async polls
Are there any other outstanding liabilities?
- S4 second disbursements? Then do we need to keep ALL unclaimed S4 disbursements forever?
- for projects that have been approved by the DAO, can we really “take away” this funding?
- Maybe we say if you didn’t get S4, but you put in a new funding request (S5, mid-season, etc), then the previous held funding is forfeit
no need to vote, it has been decided
Project: Bankless Website/FRAG Stack
Forum post:
Speaker: 0xJustice.eth#6213
Ask:
0xJustice.eth‣‣
Would there be any time to bring a matter before the grants committee in the next meeting (tomorrow)? It involves the FRAG stack team and their recent win of a hackathon and desire to leave the DAO with elements of the original project vision. @Grants Committee
Website project turned into 2 workstreams
- redesign, rewrite content, get new version of website out
- r&d: how can we build a fully decenetralized frontend stack (FRAG stack)
As part of the solution, they found that radicle was not ready for this
- fleek (pinning service) was a bottleneck
the frag stack workstream built something awesome, won second place ($10K USD) and now wants to take this team further
- they want to take VC funding, see how far this goes
- they feel blurry on what the lines are - what should they be doing with the DAO, what shouldnt they be doing with the DAO, etc\
what does “leaving the DAO” mean?
- the problems originated as work on FRAG stack, and they started building outside of the original goal of FRAG stack (a more generalized solution)
- the are unsure of the relationship between the DAO - the DAO could definitely benefit from the tools they are building
- they provide stuff BanklessDAO can use, and BanklessDAO can provide inputs into this process
- but what does having a legal entity in the DAO look like? how about having a client relationship with the DAO?
- maybe just treat BanklessDAO as an angel?
- BanklessDAO has no legal standing, this is based upon trust
- bDAO cannot physically stop you; this entire agreement rests on good will. Grants are grants; non binding and cannot be claimed back.
- In terms of how to honor the goodwill, it could be as simple as providing bDAO with free access to what you create. It could be buying BANK or contibuting to the multisig and dare we tease Icedcool with tokenizationMessage #💬cc-chatter
- hope you finish your work on the website tho!