In line with https://thebaoman.medium.com/panda-and-other-surprises-9c990bc54288 and the success of the recent Baonty program we are proposing to commit $1M worth of $BAO from the dev fund to be deployed as a bounty program.
The maintainer galaxy, community galaxy, front-end galaxy and back-end galaxy will be able to deploy needed Baonty funding to Gitcoin or manually in Baonty Proposals or fill Baonty requests for funding.
The community will also be able to vote on governance on the deployment of funds against proposals without the involvement of galaxy teams to ensure the process is centralized.
This authorization will establish the creation of that fund.
This $1M in bounties is designated for a 3-6 month period and once spent will have a new governance program to reevaluate our bounty process.
This authorization will give the galaxy teams the right to put forward Baonties ranging from $2500 - $50k in size without authorization from governance vote so long as the bounty:
Any bounty applications which don't meet those criteria must be done by community vote still. (For example, the vote to approve funding for the front-end galaxy had an existing candidate and was greater than $50k and so it needed additional governance voting.)
Baoman will also be committing an extra $250k of funding to the Baonty fund. Since this is a personal contribution, this vote will also authorize him to spend up to that much in baonty funding at his discretion outside of these parameters. Baoman intends to use this funding to fund more galaxy teams and provide rewards for existing contributors who made outstanding contributions before we established a baonty program.