We are proposing to allocate 30% of the pDAO treasury to grants and bounties.
As an example, over the next 12 inflation periods:
- Total funding 30% - 38,947 RPL (USD 1,324,197 at today’s RPL/USD)
- Grant allocation 10% - 12,982 RPL (USD 441,399 at today’s RPL/USD)
- Bounty allocation 20% - 25,965 RPL (USD 882,798 at today’s RPL/USD)
To support the grant/bounty program, we are proposing a selection policy that utilises social structures already present within the Rocket Pool community.
To support the grant program, we are proposing a performance policy that ensures grantee’s uphold their responsibilities to the protocol and their grant.
The Rocket Pool community have always strongly contributed to developing a Rocket Pool ecosystem. From marketing outreach, to developing online tools, the community have self-organised and satisfied their own needs. This proposal further encourages this, by setting some structure around a grants & bounties program. This proposal is open for debate and refinement, it serves as a starting point for discussion and ultimately implementation through community co-development.
By funding community intiatives, Rocket Pool aims to reward community contributions, increase agility, and further develop a rich ecosystem surrounding Rocket Pool.
When dealing with pDAO funds we feel it is important to set a guiding budget so that spending can be tracked and does not encroach on other activities.
We are proposing to allocate 30% of the pDAO treasury to grants and bounties. We feel this allocation is a solid capital base for generating lasting impact on the Rocket Pool ecosystem, while providing enough pDAO capacity for other initiatives.
Defining a grant or bounty
A definition of what is a grant vs a bounty has been proposed: Grant / Bounty Definition
To help potential applicants apply for grants we are proposing a set of standard sizes:
- Small grant - 500 RPL over 12 inflation periods (USD 17,000)
- Medium grant - 1,000 RPL over 12 inflation periods (USD 34,000)
- Large grant - 1,500 RPL over 12 inflation periods (USD 51,000)
- Custom - to be defined through negotiation, ideally this would be rare
Bounties are one-off payments for a specific piece of work and so they would pretty much always be custom.
We are proposing to establish an initial grant committee, consisting of at least 1 member of the core team, and the Rocket Scientists (Discord role). The grant committee’s role would be to regularly assess bounty and grant applications and decide whether they should be funded or not. The Rocket Scientists are respected members of the community that have shown deep commitment to Rocket Pool. Obviously it is not compulsory for Rocket Scientists to participate in the grant committee. As we develop the process we will look to opening up more positions on the grant committee, either by expanding the Rocket Scientist program or have some sort of assembly selection process.
To support the grant committee’s decision we will use Snapshot voting to signal community sentiment.
We feel token voting alone has significant limitations (Moving beyond coin voting governance), which is why we are proposing to combine it with a community representation.
Grants are given based on providing a service to the Rocket Pool community. It is important that the community receive the value that the protocol pays for. Each grant will need to state service levels that they will maintain for the length of the grant. These will be assessed by the grant committee, if in the unlikely event the grantee is not upholding the service levels - the grant will be withheld.
Rocket Pool will further develop its rich ecosystem: rewarding contributions and enhancing the Rocket Pool experience for every member.