In March of 2022, as per LEAP-17 the first Lyra GrantsDAO was elected by token holders to serve as a body for incentivizing community contributions and encouraging community members to build peripherally to the Lyra Protocol. The exact responsibilities of the Lyra GrantsDAO are outlined in LEAP-17, a summary of these responsibilities includes:

In addition to the points above, the Lyra GrantsDAO has a mandate to shine a bright light on community lead initiatives and lower the barrier to entry for any non-DAO affiliated community members to contribute and improve upon Lyra.

In the first paragraph, we mention that we want to encourage community members to build peripherally to the Lyra Protocol, in saying this we are specifically referring to initiatives/ contributions that do not require an upgrade to the existing protocol infrastructure. Anything which aims to change/upgrade the protocol on a contract level must pass through a separate proposal process which is outside the scope of the GrantsDAO and requires a Lyra Enhancement Action Proposal (LEAP). That isn’t to say that the gDAO strictly cannot fund a community lead initiative which requires a LEAP, but ideas which fit that criteria need to follow a different path from ideation to implementation before the gDAO may fund it.

Some examples of grants submissions which would fall within the gDAO scope and do not require any outside processes, are:

The above mentioned examples only scratch the surface of the type of initiatives we aim to reward and quite literally the community’s imagination marks the upper bound of what meets this threshold. Any grants submission which brings value to the protocol or makes for a better community and user experience is more than welcome and will be given full consideration for approval. In addition, we’ll closely follow all community contributions and are prepared to reward anyone for their efforts retroactively as well.