This post is to present the decisions of the Grants Committee for the Season 2 Guild and Project funding and gain consensus for rolling the extra project funding up into the Grants Committee Season 2 fund.
Grants Committee Attendance:
|Above Average Joe(L)||0xLucas||Grendel||Kouros(L)|
Per the Season 2 specification and approval of the DAO, Guilds had a budget of 5 million BANK, Projects a budget of 5 million BANK, and the Grants Committee a budget of 10.5 million BANK for Season 2 with 3.5 million set aside for Contributor rewards(Monthly Coordinape)
The Grants committee was to review and gut check the Guild and Project requests, and upon approval put the approval up to snapshot.
Upon review of all the Guild requests, the total request was 374,403 BANK over 5 Million. In order to fit within the bounds of the snapshot vote, the Dev Guild offered to defer payment till after Season 2 commenced, to be paid from the Grants Committee fund.
Upon review of the Project Requests, the total request was 1,815,355 BANK over 5 million. In order to fit within the bounds of the snapshot vote, the Grants committee interpreted the requirements of the project funding specifications of:
These projects are well thought out, properly scoped and staffed (see projects proposal workflow), and have a clear budgetary ask in mind. They are not in the ideation phase with loose expectations.
As requiring the projects to have been funded by the Grants Committee previously, and defer funding of the projects that haven’t previously been funded till after Season 2 commencement, as well paying from the Grants Committee fund.
This put the project funding request at 3,689,000 BANK, which left 1,311,000 BANK in the budget.
In order to account for the additional funding request needs, the Grants Committee would like the approval of the DAO to roll the 1,521,000 BANK not used in the Project Fund into the Grants Committee Fund, to be validated via snapshot and disbursed from the BanklessDAO Multisig.
This funding will go towards funding the deferred guild and projects, and towards project needs of Season 2.
- Deny (with details posted below)