Taylor, a member of the DAO’s Leadership Committee, believes it would be valuable to fund Mike to build an idea he has for a new MetaMask Snap. She wants to fast-track it through the Leadership Grants process.
Taylor would begin by asking Mike to define a proposal that includes the idea, its value, milestones to completion, and how much in grants funds is needed to complete each milestone. The proposal will follow the formatting of a pre-established proposal template.
When the proposal is ready Taylor would give the Committee a heads up via Slack and/or any recurring meetings, and may invite comments, suggestions, edits, or opportunities to interact with the intended recipient. Taylor has the freedom to do whatever she thinks is best, with the goal of convincing the rest of the Committee it is a strong proposal.
When Taylor feels the proposal is ready to be voted on, she will go to snapshot.org and create a proposal using their interface. She would notify the Committee in Slack or during a recurring meeting. If any member of the Committee requires more information, she or others in favor of the proposal would be available to answer questions.
Leadership Committee members will go to the MetaMask Grants DAO page on Activate to vote.
When the proposal closes five days later, if there are at least five ‘yes’ votes, the proposal is considered to have passed (else it fails), and Taylor would ask Mike to fill out a basic KYC form. Assuming everything checks out according to the instructions provided by Legal, the DAO is ready to send funds to Mike.
Taylor will then set up a transaction equal to the size of the disbursement needed for the first milestone. This transaction will be queued for multsig holders, who will be notified via Slack and any recurring meetings.The multisig holders are expected to sign the transaction within five days, going to Taylor for any additional information that may be needed.
There may be funds that are approved, but not disbursed, such as where there are multiple milestones for the recipient to hit to receive more funds. Those funds will be considered “allocated” and saved for future disbursements.
After funds have been disbursed, Taylor is expected to update the list of funded projects on the Funded Grants page, as well as any internal, private tracking mechanisms. Taylor will be responsible for periodically tracking the status of the grant and providing the team with updates.
A substantive update will be expected after a milestone or completion date has been reached.
In the case of a milestone and after any updates, if Taylor believes that the milestone has been reached, she will create a proposal to continue funding the project, which will pass/fail with the same rules as above.
In the case of a project that has reached its final milestone, Taylor will be responsible for a final update to the Committee and the Committee will take an informal vote on whether the proposal was successful, for purposes of tracking its success and learning.