Grants Committee Weekly Sept 13, 2022
Attendance
links, jameswmontgomery, Ap0ll0, lion917, Rene, jengajojo, p8ul.eth
Date
Sep 13, 2022
Last Edited Time
Sep 13, 2022
Last edited by
Note-taker
Recording
Multi-select
Action Items
Accounting
(Ap0ll0517.eth to fill in)
- Bank for the remaining of the season: 21,593,989
- Escrowed - 7,122,870
- Pending - 352,000 for trx under review https://app.parcel.money/shareable-transaction/64b7073a-dfa1-44a7-9ad3-62720a10a880
- Available to use - 14,119,119
- Average BANK per week left :
- Grants Committee Funding tracking
^ the funding tracking is out-of-date, has not been updated since Kouros’s last update
- there are some bulk distributions, was unable to find how much money we sent to Bankless Africa
- Bankless Africa was disbursed from the main treasury, NOT the Grants Committee (i.e. it came from seasonal funding, NOT mid-season funding)
- it’s true for most people that Grants Committee seems like the “fund disbursement” arm of the DAO, but as long as we don’t have the ability to disburse all funds (i.e. the BanklessDAO Multisig
- perhaps we can have a joint proposal to scope the Grants Committee and get consensus from the DAO?
- is this better served in Notion? So we can cross-link?
- Ap0ll0 was looking to incorporate a different sheet with some additional functionality (including filters, etc)
- ACTION: Ap0ll0 to create the spreasheet described above
Discussion
Discussion: S4/S5 Project KPIs
- Bankless Brasil (
)
- Bankless Indices (
)
- bDAO Legal Entity Wrapper Research (
)
- Crypto Sapiens (
)
- International Media Nodes (
)
- Website Project (@james Montgomery, just the final month!)
Question
- what should we do for projects that don’t submit KPIs?
- they don’t get the second half of funding for the season
- Crypto Sapiens did not get second half of funding for S4, but they got first half of S5 funding
- so should we not remit disbursements for seasonal funding for these projects?
- we have the project list in which we can show whether or not a project is available for seasonal funding
- should the ops guild be responsible for ensuring that projects have KPIs and keep the list of projects that are eligible for seasonal funding
- Grants has the mandate to ask for KPIs and disburse funding - that was given to the Grants from the DAO
- the list of projects and KPIs should be transitioned to some working group, maybe within Grants committee - we have some bounty budget for this
- ACTION: lion917 to talk to Ops Guild about this
- ACTION: links to create task for this on the kanban board
- Bankless Brasil (
)
- Bankless Indices (
)
- Bankless Loans (
)
- bDAO Glossary (
)
- bDAO Legal Entity Research (
)
- Bounty Hunter (
)
- Crypto Sapiens (
)
- Decentralized Law (
)
- DomainDAO Partnership (
)
- Infosec Team (
)
- Mad Hatter (
)
- Podcast Hatchery (
): KPIs are agreed. Measurement for August pending.
- Tokenomics Levelling Up (
)
Discussion: Current Async Votes
GM Bus - PASSED
- disbursement tasks on the board
GM Bus Media Coverage - PASSED
- disbursement tasks on the board
Discussion - Treasury Guild Revenue Recognition
links to discord chats
In brief
- treasury guild has a working group which wants to understand all of our assets/cashflows
is liaison from Treasury Guild side,
is liaison from Grants Committee side
Questions:
- what is the problem you’re trying to solve?
- https://docs.google.com/document/d/15PFqHlAxrrwPv7Se8RW6zh_4EVzSgl_SkEeiQzIC_iQ/edit
- looking to save BANK - trying to keep our treasury healthy
- recognition of grants funding to repatriate revenue/profits, more specific expectations around revenue-sharing and transparency
- what are the outcomes?
- transparency - being able to SEE what projects are receiving/giving to the treasury
- not only to see if projects have given back, but also to hold up successful projects as examples and inspiration for DAO members
- trying to document what WAS agreed-upon (not trying to impose anything)
- recommendations - giving some guidance on how projects can give back to BanklessDAO
- not every project is revenue-generating - some are meant to build the community up
- for those that are creating revenue-generating projects, then there should be some guidance for how they can give back eventually
- what do you need from GC?
- they have developed their own list of previous projects
- there is at least one proposal that was voted on that defines revenue sharing
- would like to coordinate with projects to retrospect and audit
- would love if there was a section in grants proposals to talk about revenue/profit sharing
- profit is very hard to agree upon, but revenue is straightforward
- also the wallet to wish revenue would be collected
ACTION: links to update the task to update the proposal template for grants committee
- include the above + the voting requirements (task already exists)
Treasury Guild has a monthly report for DAO balance sheets and P&L
- lion hasn’t been able to find them
- gruad has volunteered to put these on treasury guild
Discussion - Grants Mandate/Purpose
Doc for async opinions here: