A formalised process for application is important to ensure that the grants program is used responsibly and rewards fairly distributed.
In the near future, the community DAO will be responsible for managing the approval and distribution of grants.
The current process is as follows:
An applicant fills in a grant form (coming soon!) detailing the request
For grants above US$500, the request must come with the value it brings, an execution plan, timeline, deliverables, budget and background about the requestor
For grants above US$5000, the grant would also need to be socialised via the monthly community call and then routed to Discord where community members can vote
A community DAO reviews requests bi-monthly and approves by majority vote
Once approved, the grantee is appointed a coordinator to liaise with on the specifics of the grant
Once completed to specification, agreed rewards may then be disbursed
This process may be improved upon by any member of the community.