Grants Committee Weekly Jun 28, 2022
Attendance
james, kouros, rene, links, icedcool
Date
Jun 28, 2022
Last Edited Time
Jun 28, 2022
Last edited by
Note-taker
Recording
Multi-select
Team Perspective
- lion917 is off this week
- jameswmontgomery is off 7/5 and 7/12
- Grants Committee feedback questions in next coordinape
Accounting
- Bank for the remaining of the season: 6,769,958.713
- Average BANK per week left: 1,353,991.7426
- Grants Committee Funding tracking
Discussion
KPI Acceptance Flow
- reminder: projects must have KPIs accepted AND recorded to get second half of funding
- list of projects that have met requirements and are ready for funding is here
Who should be responsible to put the KPIs in the KPI Measurements?
- right now we have project champions filling this in
- maybe it should be Grants reviewer?
- reduces people handling that page and puts onus on the grants reviewer
- DECISION: keep current process and change later if needed
ACTION: Kouros to put an announcement on #announcements to remind project champions to fill in KPI measures for June. Please reference to this link for entry https://www.notion.so/bankless/S4-Project-KPI-Measurements-d11d88e7f75a4800a2c4dbf1102811e1
Project: DAO Contributors Sentiment Tracker
Speaker: AshishG#1920
Ask: 100,000
Multisig: matic:0x120061f1cda509b317Eb10A31E1b8b673B6A74eA
Trying to create a branded property for BanklessDAO
- helps with the mission to onboard people, people look to BanklessDAO as a leader in the DAO space
- AMEX yearly releases report for luxury travel - great for their brand and industry
- we would repeat the survey every 6-12 months
- specifically trying to get into the heads of the DAO contributors
3 phases
- did a test with 15 respondents, refined the questions (done)
- next go to a broader audience, outside the DAO
- then do a presentation w/ insights
Have you thought about segmentation by DAO?
- looked at it, but decided against it to avoid skewing results
- it’s a good point that it might be useful to see whether or not we’re actually reaching a lot of DAOs
How does this fit with monthly cNPS survey?
- it’s complementary. This team is in contact w/ Ops Guild and Coordinape to collaborate
is 100K BANK a lot for this?
- for the output promised, it seems to be a good amount
- for the input, 30hrs to create survey and 40hrs to analyze the survey - maybe it’s a bit high
how can you be self-sovereign? here are some hypotheses:
- could be co-branded with other orgs
- could also have a free part and paid part
- could have sponsored questions
- could be a service to other DAOs
KPIs
- at least 100 unique respondents
- for far 45 responses
- self-sovereignty_KPI?
- before they come back to Grants Committee for another grant, ensure that you have pursued or validated/invalidated some of the hypotheses above
- METRIC: # of hypotheses validated/invalidated/explored
VOTE: Do you agree to fund 100,000 BANK as stated in the above proposal with the KPIs mentioned above?
- Yes: Icedcool, links, jameswmontgomery.eth, Rene
- No: Chuck
- Abstain:
THIS MOTION PASSES
What is the purpose/mandate of the Grants Committee?
- we (hopefully) have a wife variety of views on the Grants Committee, and we have eyes on the proposals/projects that come through
- the DAO is a labour DAO? research DAO? dev DAO?
- with KPIs - makes it clear that we disburse funds and there is some sort of accountability layer
- it’s one of the inflationary arms of the BANK token (i.e. we release BANK)
- but also the investment arm (hopefully to get returns)
- and the accelerator of the DAO (we encourage or discourage funding…we fuel the DAO)
- GC provides the fuel and liquidity of the DAO
- encourage labour via BANK
- if we feed too much BANK, we can fix it downstream, but not if we starve the DAO
- the revolutionary part of the DAO is the ability to deploy capital and effort
- contribution is the true currency of the DAO, BANK is the medium of exchange
- so we are using bank to encourage contribution
- if we are trying to encourage contribution, then we need to be protecting the price of BANK
- we’re one of the levers for price, so we have to take this into account
- we have to understand our “inflationary powers” - we are creating our own problem of inflation if we don’t understand this
- There is a context to the grants committee that is base line (investing, accountability, enabling the DAO) Then there are priorities that are different to each GC member, and ideally should be well represented from a diverse viewpoint of members.