Grants Committee Weekly Sept 6, 2022
Attendance
links, Ap0ll0517, p8ul.eth, jengajojo.eth, jameswmontgomery.eth, Rene
Date
Sep 6, 2022
Last Edited Time
Sep 9, 2022
Last edited by
Note-taker
Recording
Multi-select
Action Items
Accounting
(Ap0ll0517.eth to fill in)
- Bank for the remaining of the season: 21,593,980 BANK
- Average BANK per week left :
- Grants Committee Funding tracking
Discussion
Discussion: S4/S5 Project KPIs
- Bankless Brasil (
)
- bDAO Legal Entity Wrapper Research (links)
- Crypto Sapiens (
)
- International Media Nodes (
)
- Website Project (@james Montgomery)
- Bankless Brasil
- Bankless Indices
- Bankless Loans
- bDAO Glossary
- bDAO Legal Entity Research
- Bounty Board
- Bounty Hunter
- Crypto Sapiens
- Decentralized Law
- DomainDAO Partnership
- First Quest
- GM Bus
- GM Bus Media Coverage
- Governator
- Infosec Team
- Mad Hatter
- Podcast Hatchery
- Website Project
Discussion: should we be requesting KPIs for projects that did not request S5 Funding?
- Since we tie funding to KPIs, this is within Grants Committee mandate, but KPIs outside of funding seem beyond our mandate
- What about historical projects (ex: Bankless Consulting) that took BANK, but are no longer requesting funding?
- it would be useful for the DAO, but it may be beyond our mandate
- we are Grants Committee, not investment committee, so we aren’t REALLY trying to track the performance.
- KPIs are tied to a season, but we should probably followup with projects that have requested funding in the past
DECISION: we will not ask projects who don’t have current funding with us to submit KPIs
Discussion: Current Async Votes
Tokenomics Levelling Up - PASSED
- ACTION: distribute funding
DomainDAO - PASSED
- ACTION: distribute funding for this (links) to create tasks for this
GM Bus - 1 day left
GM Bus Media Coverage - 1 day left
In need of Grants Reviewers?:
- Simple DAO Directory
- Crypto Nomad Research
Discussion - Grants Mandate/Purpose
Rene’s thoughts
- mandate of Grants Committee is linked to the strategy/purpose of BanklessDAO as a whole
- still a bit in between the BanklessDAO-as-a-VC, and BanklessDAO as a gateway to web3
- if BanklessDAO is primarily a place to give people a place to work, then we don’t necessarily need to give grants that are only going to provide ROI. If it’s a venture capital thing, then would look at project differently
- perhaps we can interpret the mandate and then ask the DAO for their feedback (i.e. gain consensus on our interpretation)
- is Grants Committee responsible for encouraging contribution?
- is vibes an aspect?
- what about # of contributors?
- newsletter and IMN do this really well - they get lots of contributors contributing for good amount of BANK
- but Bankless Academy had a TON of contributors and had to pare down to 4 and it (seems) more effective
- but how would we actually do this, tactically. Would we give more funding for more contributors? Would we store the BANK/contributor as a static metric across all projects?
- if we start focusing on contributors, then we may start to skew BanklessDAO towards certain types of contributors
- i.e. those that are able to weather BANK price lows (i.e. developing nations)
- i.e. teams that are bigger would get more funding?
Outcome-based?
- every time we give a grant, we reduce the price of BANK for everyone else
- self-sovereignty is a big piece of this - but not the ONLY piece
If we built BanklessDAO in a way that we would be getting perpetual fees from “students”
- projects/guilds would then be the education arms - you work in them to learn about web3
- then projects wouldn’t need to be “self-sovereign”, they just keep working to make stuff happen and teach contributors about web3 and contribution
- i.e. teach them how to web3 PM, teach them how to connect with other DAOs
- projects offer value, and the students accrue value
Maybe there is a way to reconcile
- we encourage contribution
- we need revenue
Mandate now vs mandate later? i.e. what we ARE vs what we want to be
- it would be annoying to go in circles: we can’t define mandate until the DAO does, and it’s really difficult to get consensus from the entire DAO
- maybe we can make our mandate a small subset of where we want to be (i.e. be the change we want to see in the DAO)
proposed mandate: a mandate that goes in the way of the web3 university
- Have a project be as interesting as possible to people new to crypto OR to expand their knowledge
- could be a place where people can earn money while learning