BanklessDAO
BanklessDAO
/
🖊️
Grants Committee
/
🗒️
Grants Committee Meeting Notes
/
💰
Grants Committee Agenda - 8/3/21
Grants Committee Agenda - 8/3/21
💰

Grants Committee Agenda - 8/3/21

Attendance
Date
Aug 3, 2021
Last Edited Time
Feb 18, 2022
Last edited by
Note-taker
Recording
Multi-select
Announcements:
     
    Agenda:
    • Project/Program Review
      • Onboard
      • Digital Asset Manager
      • BanklessDAO website
      • Gleam BED Token campaign
      • First Quests at Bankless DAO
      • Degen
    • Purpose of funding - To distribute or to use for other means?
      • Percentage of funding to distribute to projects?
        • All 5 Million?
        • Other usages?
    • Unclaimable bank proposal reroute
    • Lead role process sync
    Notes:
    • Onboard
      • 3M is too high. 10K USD already from Polygon. Possibly another 500K in BANK as a starting amount to see how Onboard spends?
        • Can then re-evaluate as 500K is spent
      • Expected work:
      • Work estimation is well itemized, but 75/hr in BANK is a unsustainable precedent for other projects
    • Going forward any request should have a representative to present their proposal.
    • Should the Grants committee ONLY act at behest of the DAO via discourse consensus
      • Tabled to be discussed async or in other meetings.
      • frogmonkee to write forum post 👍
    • 1000 BANK/hr as a benchmark for estimating work
      • Onboard comes out to ~1M BANK (confirmed by GC vote on call)
        • Votes to Deny and Ask to resubmit: Icedcool, 0xLucas, Above Average Joe, Kuros, Grendal, Nonsense
        • 867 hours @1000 BANK/hr - 867,000 +133,000 (budgeted for other expenses)
    • Forum post on the 1000 BANK/hr rate + confirming with projects that the new budget ask is appropriate (only Onboard goes down in ask)
    • Concern on depth of market
      • Balancer pool to help
    Action Items:
    ICED to write up the forum post for soft consensus
    To post to Grants committee channel for discussion.
    Kuros to create guidelines on program submission
    Joe to talk to onboard
    Gleam - Grendel
    First quest - Iced
    Website - Grendel working with Yves
    Degen - nonsense
     
    BanklessDAO
    BanklessDAO
    /
    🖊️
    Grants Committee
    /
    🗒️
    Grants Committee Meeting Notes
    /
    💰
    Grants Committee Agenda - 8/3/21
    Grants Committee Agenda - 8/3/21
    💰

    Grants Committee Agenda - 8/3/21

    Attendance
    Date
    Aug 3, 2021
    Last Edited Time
    Feb 18, 2022
    Last edited by
    Note-taker
    Recording
    Multi-select
    Announcements:
       
      Agenda:
      • Project/Program Review
        • Onboard
        • Digital Asset Manager
        • BanklessDAO website
        • Gleam BED Token campaign
        • First Quests at Bankless DAO
        • Degen
      • Purpose of funding - To distribute or to use for other means?
        • Percentage of funding to distribute to projects?
          • All 5 Million?
          • Other usages?
      • Unclaimable bank proposal reroute
      • Lead role process sync
      Notes:
      • Onboard
        • 3M is too high. 10K USD already from Polygon. Possibly another 500K in BANK as a starting amount to see how Onboard spends?
          • Can then re-evaluate as 500K is spent
        • Expected work:
        • Work estimation is well itemized, but 75/hr in BANK is a unsustainable precedent for other projects
      • Going forward any request should have a representative to present their proposal.
      • Should the Grants committee ONLY act at behest of the DAO via discourse consensus
        • Tabled to be discussed async or in other meetings.
        • frogmonkee to write forum post 👍
      • 1000 BANK/hr as a benchmark for estimating work
        • Onboard comes out to ~1M BANK (confirmed by GC vote on call)
          • Votes to Deny and Ask to resubmit: Icedcool, 0xLucas, Above Average Joe, Kuros, Grendal, Nonsense
          • 867 hours @1000 BANK/hr - 867,000 +133,000 (budgeted for other expenses)
      • Forum post on the 1000 BANK/hr rate + confirming with projects that the new budget ask is appropriate (only Onboard goes down in ask)
      • Concern on depth of market
        • Balancer pool to help
      Action Items:
      ICED to write up the forum post for soft consensus
      To post to Grants committee channel for discussion.
      Kuros to create guidelines on program submission
      Joe to talk to onboard
      Gleam - Grendel
      First quest - Iced
      Website - Grendel working with Yves
      Degen - nonsense