Grants Committee meeting August 31st
Attendance
Date
Aug 31, 2021
Last Edited Time
Feb 18, 2022
Last edited by
Note-taker
Recording
Multi-select
Action Items from Previous Meeting:
Lucas will request the Guilds start fleshing out the budget during the CC call.
Iced to research the season 1 spec to make sure we adhere to it, and bring it up to #grants-committee channel to discuss - Not complete.
Agenda:
- BizDev request for funding
- 384,615.3846153846 BANK
- Multisig 0xb40f4ce59dA4A0B6D10aE605E10FD4E6ca9Ed4Ae
Project Review:
- Implement the Tipping Liquidity Proposal
- Champion: tomahawk
- Address: abvavgjoe.eth
- Funding requested: 300,000 BANK
- Administration of Fun
- Champions: seangeorge.eth, Icedcool
- Address: Icedcool.eth
- Funding request: 60,000 BANK
- Balancer Campaign
- Champion: Eagle
- Address: 0x12BD9048b419838e25046040Dcd297aB16850280 (temporary)
- Funding requested: 670K BANK (300K in Season 1, 370K in Season2)
Discussion:
- Uniswap Logo Fee
- 2000 TWT - 25,174.65 BANK
- DAO percentage recommendation
- 10%-20% ?
Action Items:
Get forms up to formally request budgets
0xLucas to get zapper dashboard
Iced to research the season 1 spec to make sure we adhere to it, and bring it up to #grants-committee channel to discuss -
Notes:
- Guild and Project budgeting
- Frog working on reformating the season 1 spec to season 2
- To include a form for guild and project budget submission
- Need to include requirements for submission
- Need an itemized expense from multisig
- Analytics may be able to provide
- Balance reporting without too much overhead
- Iced asked Paul to get a dashboard together
- Lucas to create a zapper.fi with all the multisigs to see
- Potentially Grants committee has NEEDS legal representation.
- Larger conversation about our wording with remuneration of BANK
- Potential major legal securities issues
- Could we use POAP/NFT's for remuneration?
- Uniswap Logo
- Tabling till next time
- Guild funding
- Bizdev funding
- Kicking off the transaction
- Acknowledging that they just got funding as we move into season 2
- 384,615.3846153846 BANK
- Project funding
- Implement the Tipping Liquidity Proposal
- Is the allocation of 300,000 still good even though the valuation has gone up?
- The distribution is still valid regardless of valuation.
- How do we enforce tipping?
- We can't - although since it is for level 2's, these people are already bought in.
- Worst case we have compensated our L2's.
- Voting to request an update with verbiage - Icedcool, Nonsense, James, Grendel, Kouros, Grendel, 0xLucas
- Abstain - AAJ
- Discussion:
- Because potential legal issues with 'tipping'
- Tomahawk - If we argue that BANK is not a security, it is less ideal that we are allowing 'tipping'. We could call it rewarded voting power or something.
- Saulthorin - We could call it praise or rewards? Set up an escrow instead of tipping?
- We could call it praise rewards?
- Tomahawk has done an AWESOME job
- Administration of Fun
- Voting
- Approval: Kouros, AAJ, Grendel, 0xLucas, James - Iced abstain
- Balancer Campaign
- Gnosis safe wasn't ready
- Requested to resubmit with clarification on next week.
- If we are to implement liquidity mining programs maybe it should be on a seasonal basis.
- There is an existing 80/20 pool, the DAO could have ownership of it and we could change the stats to achieve what we are looking for.
- Potentially doing this seasonally is the best.
- Ideally we start on Season 2
- Not solving liquidity problem