Evolve the Growth Fund and allocate its remaining INST to create a more focused and directed Grants Program
We started the Growth Fund in July of last year. The Growth Fund was created to distribute and reward Instadapp contributors for the various contributions, such as marketing, writing, community participation etc. Through the Growth Fund we have also paid for development of Subgraphs, Dune Dashboards and have funded different contributions to Instadapp such as CN Wiki Translations and Support Services in WeChat.
The Growth Fund currently is a monthly pay out to participating contributors and a handful of projects. The Grants Program will make the use of funds more effective and better track the success of where the funds are distributed. It may also make more sense for certain individuals or projects to receive funding in a more consistent way, we will also explore streaming funding as well.
The Grants program will be run by a Grants Committee, we will use the current Guild Captains as the initial committee but if other individuals would like to participate in the Grants Committee please reach out to us. This is my recommendation for the starting Grants Committee:
The Grant Committee will be tasked with creating and maintaining and operating the Grants Program. Such duties would include reviewing grant submissions, sponsoring projects and media, generating grants, creating reports and any other documentation that the community can review such as Grant costs and management information.The Grant Committee will be able to fund grants directly with a maximum cap of $10,000 USD. This is based on the current Growth Fund and INST’s current price. If the value of INST increases it would be reasonable to allow the Growth Committee to spend and allocate larger amounts.
Current INST Holdings: 33797 INST
Remaining INST to be distributed: 60,000 INST
Total INST: 93,797
USD Current Value: $243,872 ($2.60 per INST)
5000 INST for Rabbithole
2000 INST for Cimple.CC upon completion of Milestones
On Going Media Magic via Fabricated Abyss
CN Wiki translations and guides via LoveCrypto
Dune Dashboard Analytics via Miscao
The Grants Committee first duty will be to set up grants for the on-going projects. The Grant Committee will formulate and organize these grants as well as develop a structure for projects and individuals to receive funding i.e. an application and review process. We will honor all previous earmarked distributions and bring them forward into the Grants Program. The Grants Committee should also be compensated for their efforts this is to be determined.
In addition to the funds allocated for the original Growth Fund, Instadapp’s DAO has funds for Ecosystem Partners. For Grants that are larger than $10,000 USD applicants can submit a proposal to the Grants Committee for review and the Grants Committee can submit their recommendation to the team for distribution of Ecosystem Funds.
We would love to hear your thoughts on shifting to this model as well as any projects, peoples or areas of focus for the Grants Committee to initiate.