Announcements:

Agenda:

• Project/Program Review
  • Onboard
  • Digital Asset Manager
  • BanklessDAO website
  • Gleam BED Token campaign
  • First Quests at Bankless DAO
  • Degen
• Purpose of funding - To distribute or to use for other means?
  • Percentage of funding to distribute to projects?
    • All 5 Million?
    • Other usages?
• Unclaimable bank proposal reroute
• Lead role process sync

Notes:

• Onboard
  • 3M is too high. 10K USD already from Polygon. Possibly another 500K in BANK as a starting amount to see how Onboard spends?
    • Can then re-evaluate as 500K is spent
  • Expected work: ‣
  • Work estimation is well itemized, but 75/hr in BANK is a unsustainable precedent for other projects
• Going forward any request should have a representative to present their proposal.
• Should the Grants committee ONLY act at behest of the DAO via discourse consensus
  • Tabled to be discussed async or in other meetings.
  • frogmonkee to write forum post 👍
• 1000 BANK/hr as a benchmark for estimating work
  • Onboard comes out to ~1M BANK (confirmed by GC vote on call)
    • Votes to Deny and Ask to resubmit: Icedcool, 0xLucas, Above Average Joe, Kuros, Grendal, Nonsense
    • 867 hours @1000 BANK/hr - 867,000 +133,000 (budgeted for other expenses)
• Forum post on the 1000 BANK/hr rate + confirming with projects that the new budget ask is appropriate (only Onboard goes down in ask)
• Concern on depth of market
  • Balancer pool to help

Action Items:

• [ ] ICED to write up the forum post for soft consensus
  • [x] To post to Grants committee channel for discussion.
• [x] Kuros to create guidelines on program submission
• [x] Joe to talk to onboard
• [x] Gleam - Grendel