Thank you so much @batuX for the detailed feedback. I appreciate your recognition of the need for a formalized grants process. Please find the responses to specific questions as below:
Why was the grants budget set high to begin with? I did not see any reasoning on the numbers?
The initial proposed grants budget and the committee compensation was based on our ongoing engagement with Compound and to keep Euler competitive with rest of the market.
|Defi Protocol||Grants Budget||Committee Compensation||Details|
|Aave||$3.25M per 2 Quarters||Grants Lead- $9k/month Review committee- $150/hr, capped at 10 hrs/week||Aave Grants|
|Compound||$1M per 2 quarters||Program Manager - $100/hr Domain Allocators - $80/hr||Compound Grants Program 2.0|
Putting up a rushed, unreasonable proposal, to be as rushed adjusted after some push back by an individual
Based on the feedback of the community, we have updated the proposed amount and the proposal to ensure that it is run as a pilot. We’ve made best efforts to stick to the community’s recommended governance process here.
To make sure we launch the program with community’s best interests, I will be having a call for taking inputs on:
- What should definitely happen in this grants program
- What should definitely NOT happen in this grants program
- RFPs that should be listed for each domain
- Evaluation rubrics and proposal evaluation process
- KYC, legal, multi sig setup and other operational concerns
We don’t intend to cut any corners in the governance process and are incredibly sorry if that is how it has come out in this forum.