Introduction
The below process is an indication on how the process and contact between the DAO and the grantees may look, since we’re still very early in our development we assume it will change and move rapidly until we find our preferred way of working together as an Ecosystem.
Grant request approved
After a successful vote the DAO point person/s will reach out to the grantees with the good news. They will discuss (if needed) a payment schedule, this will be to make the final allocation of the grant to each milestone and possible upfront payment. The DAO always would prefer 100% paid on completion of milestones but we understand there might be significant upfront costs for the projects.
When a schedule is set the DAO transfers the upfront payment either directly from the DAO multisig or sends payment instructions to a funding multisig. At this stage we draft a common announcement to be shared in our channels and the grantees’ channels describing the cooperation. The teams will also be put in touch with our partners (cre8tor DAO and Akash as an example) to get the benefit we can help provide our grantees.
Reporting back, community engagement and milestones
The DAO will interact with all grantees, the level of involvement will be different from team to team. We will offer support in accounting and project tracking if this is something that the teams want which will be the case for all areas, nothing is mandatory except milestone reporting and community engagement.
The DAO will use Sobol to track the projects and ask the key person at each project to report progress and/or problems along the way. We aim to have a conversation either by voice or async through text every month with our newer projects. At completion of milestones or projects the DAO will organize a AMA/Call or a written update with the project for the community to attend and listen to how the project is evolving. We also invite all our funded projects to give back by contributing to our ecosystem and community, as an example would be to support newer projects or for the more successful ones to donate a grant of their own to the DAO in the future.
We have not requested any tracking of the use of grants but we encourage the projects to have updated books and transparency where possible.
We invite the community and projects to suggest any other activities that they think would be beneficial to the DAO and the Ecosystem. We’re here to learn and grow together!