Author: Above Average Joe#5427, frogmonke#6855

SUMMARY

Per the Season 2 specification, Guild and Project were each approved for 5 Million BANK and the Grants Committee was allocated 10.5M BANK, with 3.5M set aside for contributor rewards.

This proposal seeks to ratify where these budgeted allocations will go (between guilds and projects), and seeks approval for a modification based on interpretation of the Season 2 Spec.

BACKGROUND

Guilds

Upon review of all the Guild requests, the total request was 374,403 BANK over 5 Million.

In order to fit within the bounds of the snapshot vote, the Dev Guild offered to defer payment till after Season 2 commenced, to be paid from the Grants Committee fund.

Projects

Upon review of the Project Requests, the total request was 1,815,355 BANK over 5 million.

In order to fit within the bounds of the snapshot vote, the Grants Committee interpreted the requirements of the project funding specifications of:

“These projects are well thought out, properly scoped and staffed (see projects proposal workflow), and have a clear budgetary ask in mind. They are not in the ideation phase with loose expectations.”

As requiring the projects to have been funded by the Grants Committee previously, and defer funding of the projects that haven’t previously been funded till after Season 2 commencement, as well paying from the Grants Committee fund. (Read in detail here)

This put the project funding request at 3,689,000 BANK, which left 1,311,000 BANK in the budget.

In order to account for the additional funding request needs, the Grants Committee would like the approval of the DAO to roll the 1,311,000 BANK not used in the Project Fund into the Grants Committee Fund, to be validated via snapshot and disbursed from the BanklessDAO Multisig.

This funding will go towards funding the deferred guild and projects described above.

SPECIFICATION

• Increase the BANK allocation to the GC multisig for Season 2 by 1,311,000 resulting in a new total allocation of 11,811,000 BANK

Guild Funding = 4,954,403 BANK

• Legal Guild = 288,000 BANK
• Writers Guild = 302,000 BANK
• Marketing Guild = 306,000 BANK
• Operations Guild = 520,000 BANK + 3 ETH
• Treasury Guild = 286,385 BANK
• DAOlationships = 276,000 BANK
• Translators Guild = 434,000 BANK
• Education Guild = 735,000 BANK
• AV Guild = 606,233
• Analytics Guild = 592,400 BANK
• Design Guild = 490,000 BANK
• Research Guild = 118,385 BANK

Project Funding = 3,689,000 BANK

• First Quest = 461,000 BANK
• Bankless Academy = 1,340,000 BANK
• Bankless Loans = 194,000 BANK
• Website = 360,000 BANK
• DEGEN = 1,334,000 BANK