The Grants Committee is a seasonal fund controlled by the Grants Committee. The main purpose of the GC is to fund projects that are ready to start mid-season.
Each Season the GC will propose a budget allocation that will need to be approved in Snapshot together with the rest of the specifications of the Season. Grants Committee Structure
The GC is composed of seven members; two Grants Committee Leads and five Grants Committee reviewers.
The Leads are responsible for supervising and administering the grants workflow as well reviewing and voting on projects. They are also the main point of contact of the GC. You can see all responsibilities for this role here.
The reviewers review projects requesting for a grant from the GC.
Members of the GC are elected by Bankless DAO through a Snapshot for a term. Each term is two Bankless DAO Seasons, approximately 6 months in total.
Each Season, some members of the GC will be changed or re-elected giving opportunities to everyone in the community to be part of the grants process.
To be elected, Bankless DAO members need to submit their application through the specific forum post, or the method established for that purpose. Then the members of Bankless DAO will elect their preferred candidates through a Snapshot vote.
Grants Process
The GC meets at an agreed upon time by the members currently holding the office to review and decide on what grants to award. These meetings usually last for one hour but depending on the circumstances these meetings can last longer.
Projects apply for a grant through this process.
After the project has been approved through a forum poll and submitted the request for a grant, the GC will host a representative of the project in a weekly meeting to present the project and the GC will scrutinise the project and will vote on awarding the grant.
Funding Requirements for projects can be seen here.
Each member has one vote and simple majority wins.
The GC would normally approve to fund projects that will support Bankless DAO in achieving its mission and/or are aligned with the priorities that are set for that particular Season.
One of the priorities that Bankless DAO has at the moment is to bring revenue to the DAO so we can support as many members and projects as possible while not depleting our BANK reserves.