The GMC has concluded discussions and scoring for the Round 14 (June 7 - July 7) Grants/Bounties/RA Award Round.
This post also begins the fourteen-day clock during which, according to RPIP-15, “[a]nyone MAY file an RPIP disputing a grant, bounty, or retrospective award within two weeks of the announcement of recipients. Such an RPIP SHALL be subject to a snapshot vote.” Any awards not subject to such a challenge will become official on August 11, 2024 at 23:59 UTC.
This round, all applications were deliberated by all subcommittees. This is due to the low number of applications, Rocketlend being deferred, and three applications having conflicts of interest.
Current GMC Roster
- Ken
- Waq
- dondo
- rplmaxi
- rocknet
- LFO
- epineph
- Dr Doofus
- Destroyaaa
Application Breakdown
- Total Grant Applications: 7
- Total Bounty Applications: 0
- Total Retro Applications: 2
- Total Applications Transferred From Last Round: 1
- Total Amount Grants Requested: $401,258
- Total Amount Bounties Requested: 0
- Total Amount Retros Requested: $2,034
- Total Amount Grants / Bounties / Retros Requested: $403,292
- Total Amount Incoming Funds This Period: $60,200
- Total Amount Reserves: $950,000
USD values calculated at the time GMC began deliberating on applications.
Awards, Average Overall Scores
| Number | Applicant | Title | Decision | Amount (USD) | Average score |
|---|---|---|---|---|---|
| GA132406 | ramana | Rocketlend | Approve | $89,925.00 | 3 |
| GA142402 | Patches | Rescue Node | Approve | $2,658.00 | 5 |
| GA142403 | Patches | Patches Discretionary Budget | Approve | $13,000.00 | 5 |
| GA142405 | Waq | Rocket Fuel | Approve | $40,000.00 | 4.63 |
| GA142406 | Ken | Twitter Spaces | Approve | $3,600.00 | 4.38 |
| RA142401 | haloooloolo | Support - halo - Part 3 | Approve | $1,591.50 | 4 |
| RA142402 | Steely | Support - Steely - Part 2 | Approve | $442.50 | 4 |
| GA142401 | Nordahub | Quizzes | Decline | 1.75 | |
| GA142404 | Ethereum Foundation | Attackathon | Decline | 1.89 |
Detailed Award Results
Name: Rocketlend
Proposer: ramana
Type: Grant
Subcommittee: All
Link to Application: Round 13 - Call For Grant Applications - Deadline is June 7 - #6 by ramana
Decision: Approve
Requested Funding: $90,000
Awarded Funding: $89,925
Score: 3
Comments: The grant will cover a more cost-effective audit (approximately $30k), a small amount for the work already completed ($7.5k), a maintenance and operating budget ($300/mo), and compensation rewards for reaching milestones in the active borrowed RPL. While there is value in funding relevant work to keep the community engaged, the funding will be contingent upon Ramana or another dedicated individual seeing the project through. This ensures that the funds are used effectively and the project has a higher chance of success.
Payment Structure:
- The GMC will be awarding $30,625 for an audit.
- Ramana will be compensated $7,500 for his work done on the project thus far.
- Ramana will be compensated $300/mo for operating / maintenance expenses for 6 months. (Subject to renewal upon request)
- Ramana will be compensated monthly based on the total active borrowed RPL. Each month, he will receive $500 for every 100 minipools worth of borrowed RPL, with a maximum total compensation of $50,000. The GMC will coordinate with ramana on the most efficient definition for minipools worth of borrowed RPL
–
Name: Rescue Node
Proposer: Patches
Type: Grant
Subcommittee: All
Link to Application: Round 14 - GMC Call for Grant Applications - Deadline is July 7 - #3 by Patches
Decision: Approve
Requested Funding: $2,658
Awarded Funding: $2.658
Score: 5
Comments: The Rescue Node is one of the most deserving public goods for the GMC to support. It is community-aligned, frequently used, and comes with a low price tag. The Rescue Node plays a crucial role in the protocol, and its positive impact is widely recognized. Patches, who manages the Rescue Node, has demonstrated exceptional dedication and effectiveness.
–
Name: Patches Discretionary Budget
Proposer: Patches
Type: Grant
Subcommittee: All
Link to Application: Round 14 - GMC Call for Grant Applications - Deadline is July 7 - #4 by Patches
Decision: Approve
Requested Funding: $13,000
Awarded Funding: $13,000
Score: 5
Comments: Patches is trusted to use the money responsibly to improve Rocketpool. Despite this being only the first year for some, funding Patches has proven to be one of the highest leverage investments, especially with Joe having moved on. This expenditure is critical as we build Saturn I and II. The grant will help Patches prioritize larger problems, create synergy with other contributors, and reduce administrative burden for both contributors and the GMC. This is a prudent use of DAO funds, and Patches has a proven track record of delivering great results.
–
Name: Rocket Fuel
Proposer: Waq
Type: Grant
Subcommittee: All
Link to Application: Round 14 - GMC Call for Grant Applications - Deadline is July 7 - #6 by waqwaqattack
Decision: Approve
Requested Funding: $40,000
Awarded Funding: $40,000
Score: 4.63
Comments: The GMC has decided to approve funding for this project. Rocket Fuel has proven to be an invaluable resource for staying updated on daily events within the Rocket Pool ecosystem. Waq has consistently delivered excellent work with the show, which has become a staple of the community. The grant application is well justified with strong community support, demonstrating good ROI and expanding reach. Rocket Fuel helps keep the community cohesive and amplifies other projects the DAO aims to achieve. The possibility of adjusting the frequency of the show can be explored, but the value it brings to the community is clear, making it a worthy investment.
–
Name: Twitter Spaces
Proposer: Ken
Type: Grant
Subcommittee: All
Link to Application: Round 14 - GMC Call for Grant Applications - Deadline is July 7 - #7 by ken
Decision: Approve
Requested Funding: $3,600
Awarded Funding: $3,600
Score: 4.38
Comments: Despite varying turnout, these calls provide a valuable interface between the community, team, and guests. They are a staple of the community and offer a unique platform for engagement. The price is reasonable, and maintaining a consistent platform for interaction is worthwhile. The calls and recordings offer a direct line to the team or protocols building on Rocket Pool, which is invaluable. While not everyone may personally participate, the importance of community outreach and the exceptional job Ken does in holding these Spaces justify the funding.
–
Name: Support - haloooloolo - Part 3
Proposer: haloooloolo
Type: Retrospective
Subcommittee: All
Link to Application: Round 14 - GMC Call for Retrospective Applications - Deadline is July 7 - #2 by haloooloolo
Decision: Approve
Requested Funding: $1,591.50
Awarded Funding: $1,591.50
Score: 4
Comments: The GMC has decided to approve this application, maintaining consistency with similar applications approved to date.
–
Name: Support - Steely - Part 2
Proposer: Steely
Type: Retrospective
Subcommittee: All
Link to Application: Round 14 - GMC Call for Retrospective Applications - Deadline is July 7 - #3 by Steely
Decision: Approve
Requested Funding: $442.50
Awarded Funding: $442.50
Score: 4
Comments: The GMC has decided to approve this application, maintaining consistency with similar applications approved to date.
–
Name: Quizzes
Proposer: Nordahub
Type: Grant
Subcommittee: All
Link to Application: Round 14 - GMC Call for Grant Applications - Deadline is July 7 - #2 by afrosatoshi
Decision: Decline
Requested Funding: $2,000
Score: 1.75
Comments: Despite the relatively low cost, the project does not demonstrate a strong return on investment. Similar educational initiatives previously supported by the GMC have yielded limited success. Consequently, the GMC believes this project is unlikely to make a significant impact at this time.
–
Name: Attackathon
Proposer: Ethereum Foundation
Type: Grant
Subcommittee: All
Link to Application: Round 14 - GMC Call for Grant Applications - Deadline is July 7 - #5 by Snapcrackle
Decision: Decline
Requested Funding: $100,000 - $250,000
Score: 1.89
Comments: Although it is a worthy cause, current financial constraints and priorities do not allow for such expenditures. The focus should be on making the budget sustainable and directing funds toward more immediate needs. Additionally, there is a belief that this type of initiative should be a ballot issue for the pDAO. In the future, when RPL price conditions improve, the GMC hopes to be in a position to support such causes.
Bounties That Need Definitions
GMC is requesting support writing a definition for the DAO Engagement Discussion bounty.
Member Participation
All members were present in the discussions and submitted their decisions and feedback. Members spent several rounds of iterations on Rocketlend planning and feedback.
Final Voting Stages
Due to the complexity and lengthy discussions on refining Rocketlend, an amendment was declared to approve the Rocketlend application. The amendment passed with 8 votes for “Yes”, and 1 vote for “Abstain”.