TLDR
This proposal is to establish and fund a Grants working group. The first working group experiment has been a huge success, which has allowed us to move quickly as a group, fund workers, and feel empowered with direct governance over funds. We have since established new working groups for ops, marketing, dev, and dev relations that have continued to be a major success. We now feel it is an appropriate time for a new working group to have autonomy over which projects receive grants.
Details
These funds will be added to a newly created Grants Working Group gnosis safe which will be used to fund all grant related effors. Active signers on this wallet will be Eric, Sarmad, Ezra, Dev, and Noah. The wallet will require 3/5 signers for any transaction. The Grants WG will also have its own snapshot to vote on grant proposals. All current and future WG members will have the opportunity to earn a Grants WG related NFT which they can use to vote on snapshot proposals.
Eric Arsenault will act as the interim representative for this group, and ensure funds move to the DAO wallet address. He will also oversee the distribution of the Grants WG NFTs. Payments will be made in two installments of 100k each to a new Ethereum address:
(Wallet has not yet been created)
Individuals and teams who are paid by this working group will consider themselves independent contractors and will report taxes accordingly. Forms W8-BEN and W9 will be filled out accordingly before funds get distributed to them when appropriate. Eric will be responsible for collecting these forms.
Funding amount, and use of funds
$200K equivalent in RARI as an initial amount of funding for the working group. These funds will be used to:
- Fund new third party developers who succeed in the proposal process
- Fund existing grantees ongoing milestones that already been approved of in the Rarible DAO snapshot
- Hire individual contributors who will oversee the grants working group
We anticipate these funds will last us 3 months.
Accountability
The working group will be completely transparent around how funds are used, and provide reports at the end of each month outlining grants. Members of the working group will continue attending community calls and will participate in governance processes. We will hold weekly grant calls on Friday to discuss upcoming proposals.
Why should Rarible DAO fund this?
We need to keep pushing forward with the execution of a decentralized ecosystem. Ensuring that the rarible protocol continues to grow its protocol through third party development is essential for our success. Having a dedicated grants WG will allow rarible to be more selective and ensure every grantee meets the rarible standard.