Cross Posted from Proposed Bounty/Grant Budget and Process - #4 by ken
I recommend that we expand upon the definition as follows:
Definitions:
Grant : A proposal submitted by an individual or group that proposes some action with an estimate of cost and payment schedule. Grants are a set amount broken up and paid over a set period. This might be X RPL paid over 12 inflation cycles (12x 28 days). This contract is awarded to the entity that submitted the proposal if the grant is approved.
Bounty : A proposal submitted by an individual or group that proposes a payment for an achieved result of a specific task/project. The bounty proposal should establish the desired outcome, state an award compensation amount with a payment schedule, and describe how interested parties can compete in the selection process for the bounty. The entity that submitted the proposal may or may not be the person(s) awarded the bounty contract.