Grants Committee Weekly Jun 14, 2022
Attendance
Icedcool, Rene, links, jameswmontgomery.eth, Chuck
Date
Jun 14, 2022
Last Edited Time
Jun 14, 2022
Last edited by
Note-taker
Recording
Multi-select
Task perspective
- need to kick off GC elections for next term - any takers?
- KPI acceptance flow - we have a few projects left to assign: S4 Project KPI Measurements
Accounting
- Bank for the remaining of the season:
- Average BANK per week left :
- Grants Committee Funding tracking
Discussion
KPI Acceptance Flow
QUESTION: Is the GC member who is assigned to the project empowered to accept or reject the project KPIs?
- As long as the project can ask for broader GC review if they don’t agree with the KPIs
- basically: we take an optimistic approach: if project and GC member agrees, then there is no vote, otherwise it can be taken to the
DECISION: if projects have not submitted KPI measures, they will not have their funding disbursed
ACTION: links to document the process
Date for the 2nd Seasonal Funding Drop
Project Distribution Date #2
We promised that 50% of funding would be released on a second, mid-season KPI review. What dates are those?
- Jun 15, 2022 - S4 Midpoint
DECISION: We can release the 50% of funding for projects that have KPIs accepted and measured, then we can disburse funding
- this implies that we have a rolling weekly disbursement flow
Which projects are eligible for the next drop?
- ACTION: lion917 to create a table for upcoming project disbursements
- name of project, reviewer name, amount of BANK
DEGEN Funding
- JonValJon has quit DEGEN
Of the funds that were disbursed, some has already been given to JVJ for his time as project champion - for May and June
DEGEN has committed to several features
Why did JVJ step down? (SlinkyPotato’s perspective, JVJ is not present)
- premium events feature for POAPs - the proof of concept creates deposit wallets for every user, and then the funds get transferred to the organizer
- JVJ doesn’t want any liability, he sees this as custodial wallets
- alternative implementation to this would take time to implement
links is worried about the ability of a single core contributor to bring the project forward to success
- JVJ did a lot of communication and relationships w/ BanklessDAO and outside coordination w/ orgs like POAP
- SlinkyPotato would like to continue to build
SlinkyPotato wants this to be on record: he takes full responsibility for the state of DEGEN
lion917 is worried that grants committee has been spending a LOT of time on this project - more time than any other project
- would be hard-pressed to vote to disburse funding
- it’s not GC member to tell you how to run your project, but…he has questions
- why did JVJ think it was important to tell the GC he was resigning?
- SlinkyPotato: he likely just wanted to inform people about this, but he isn’t able to say anything else for JVJ
- why wasn’t the business direction set when the funding was requested?
- they were working on other commitments on the time
- will JVJ work with you again if you change the direction?
- SlinkyPotato says they are on good terms, he doesn’t see why JVJ wouldn’t work with him if he agreed upon the direction
james: seems like a good time to focus on building the team. So…what now? What’s next?
- technology will NOT save you, it’s about contributors. In fact you might consider stopping building
- Slinky: definitely need to think about this
iced: how committed are you to DEGEN without a team?
- you’ve heard what we need - what do you need?
- Slinky: a lot of the concerns around team restructuring came from JVJ. Thought that things were now clear, but this was not the case.
- definitely likes to be more heads-down in development
- will probably need a few days to figure out the next steps
- in terms of DEGEN, this is a project that he is fully dedicated towards
lion917 - would you consider returning the funds that GC allocated to you?
- SlinkyPotato: cannot return funds he doesn’t have, and he has funding for infrastructure and
- There is 76K BANK left in the multisig, they received 190K BANK + 147K BANK
- Iced: the first half of the seasonal funding has NOT been disbursed
links: why do you need funding? Can’t you just code up the POC and get revenue?
- SlinkyPotato: the intent with the funding is to get new members
PROPOSAL: Halt previously approved funding to DEGEN
- GC is not comfortable taking this vote at this time, but we will hold on
What are the Grants Committee KPIs?
- If we are holding projects accountable, we need to hold ourselves accountable
- What’s our purpose/mandate? How can we show progress towards our goals?
- links asked coordinape workstream if they would give us some questions on next coordinape round, and Ella_Dane suggested these:
- how familiar are you with the grants committee? (scale 1-5)
- what do you think of the grants committee? (scale 1-5)
- what is one action the grants committee could take to improve? (free response)
IMN Nodes (lion917)
I would like to discuss IMN KPIs and its progress in the next GC meeting. I had a very indepth discussion with Jengajojo and there seems to be no proper path for Nodes to become independent. there are around 25 nodes being funded with extremely different numbers in terms of audience and contributors. The IMN ask will just increase each season without a proper mandate as my understanding is that they ask for a huge chunk of the budget and allocate the capital themselves instead of finding the best value for capital expenditure which GC at least tries to do. Some nodes also indulge in paid marketing so their numbers are all skewed as well.
Additionally, each season 5-6 nodes are added without the previous one's being successful. This is quite a big challenge.
- Iced’s input - Once we validate the BDAO SubDAO model, I think that this could be another location that we could enable their growth with it.
- Counterpoint - These subdaos may eventually want to tokenize themselves.