Euler Finance

Author(s): @encodeclub

Related Discussions: RFC & temp check poll

Submission Date: December 8, 2022

Simple Summary:

Encode suggests to receive $30K USD from Euler and allocate to grant projects as it sees fit, whilst engaging, consulting and involving the community in decisions.

Abstract:

Encode Club will organise a pilot grants programme that will aim to familiarise their community with the Euler DAO’s bounties. Their team will be entrusted with their promotion and furthermore tasked with evaluation of the best projects submissions, making sure that each is up to the standards set by the DAO.

The programme will closely resemble the previously successful “Bounties4Bandits” grants that Encode ran for Saddle. A summary of its execution and results can be found here.

Encode Club is a web3 education community. We help people learn, build and launch their web3 careers. We do this through high quality events such as educate series, hackathons, accelerators and bootcamps. 1000s graduate from Encode programmes each month with many getting jobs and starting companies (Euler itself won an Encode hackathon).

Motivation:

Encode Club will crowdsource ideas for bounties from the community and will decide what bounty size to allocate for each. Each of the bounties should consist of:

1. Brief summary and explanation

2. Clearly outlined deliverables

3. Execution and delivery within the timeline of the programme

4. Amount of funding attached

There will be two types of bounties:

1. Competitions -> several projects compete and the best gets the bounty award at the end of the programme.

2. Award -> a single team is selected to answer the bounty, and receives the award upon completion by the end of the programme.

Bounties will be listed on the Encode website and a public call for participants will be made. Encode Club will take care of promoting and marketing the initiative as well as organise several education events with community members and investors from the Euler community throughout the bounty period.

Teams then build by the deadline and the best are given bounties as judged by Encode, with a show and tell finale. The total value of the funds distributed by EncodeClub is $30K USD. For the pilot, Encode will not charge any operational fee and run the programme pro bono for the benefit of the Euler ecosystem.

If the programme proves successful, Encode would iterate and apply again from Q2 2023 for a follow up grants programme and will charge its standard operational fee at the time.