FIP-58: Fei Grants Program Batch #2 Budget

Forum Discussion:

https://tribe.fei.money/t/fip-xx-fei-grants-program-batch-2-budget-proposal/3763

Authors:

Arcology, DioDionysos, meertitan

Summary:

Fund Batch #2 of the Fei Grants Program via the DAO treasury.

Motivation:

Arcology, DioDionysos and meertitan have been managing the Fei Grants Program in collaboration with Sebastian for the pilot Batch #1, funded by Fei Labs. The Grants Committee has a developed a track record in the past Batch through funding and assisting many projects, such as:

• Llama DAO (providing financial reporting data for the Fei DAO) ($119,500)
• Crypto Kailash Substack (increasing recognition of Fei Protocol’s mechanisms) ($10,000)
• CVc’s analysis (an analytics dashboard tracking key metrics of Fei Protocol) ($10,000)

For more details on our work on Batch #1, check out the Batch #1 retrospective and our Fei Grants Program landing page.

As the DAO matures, decentralization is becoming a higher priority, with the Grants program being no exception. Given the circumstances, the Fei Grants Committee is requesting more independence in their management of the Fei Grants Program, with the intention of fully transferring control of management and Grants review within the DAO, with Fei Labs in an advisory role.

At this juncture, the Grants Committee will adopt a more proactive stance on seeking and recruiting talent, drawing more and better quality contributors to build for Fei. As such, one strategy is to leverage our in-person networks and reach out to institutes of higher education and professional blockchain associations to source such talent.

Specification:

To continue with the next Batch of the Grants Program, the Committee hereby requests a working budget of 250,000 FEI, in line with the previous Batch #1 budget. This funding is intended to last for 3 months, the proposed duration of the next Batch. We are also requesting an additional 10,000 FEI for any operational expenses from the Grants Committee, including but not limited to: gas costs, local and regional professional/enthusiast blockchain memberships, participation in universities and associated events for hunting down high value prospective Grantees and projects; web-domain upkeep costs and potential marketing endeavors. All such costs will be recorded and reported for transparency. This brings the total budget to 260,000 FEI.

Any funds unused at the end of the Batch will be returned to the DAO. Any budget overage during this Batch will be identified, with any consequent funding top-ups to be brought before Governance.

Approved Grants will be paid out from this budget, using a 2 out of 3 Gnosis multisig made up of the Fei Grants Committee members (arcology, DioDionysos, meertitan). The multisig will have a 96 hour OA period vetoable by the DAO/guardian for payments. Previously approved Grants from Batch #1 will continue to be paid out by the Batch #1 budget set by Fei Labs.

Voting rules:

Voting will last 2 days. Please remember that snapshot votes can be changed, but not withdrawn until the end of the voting period.

The 3 voting options are:

• Approve starting the Fei DAO Grants Program with a Batch #2 budget of - 260,000 FEI
• Don’t approve FEI DAO Grants Program mandate and initial Batch #2 budget
• More discussion needed

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Resources:

• Official Fei Grants page
• Fei Grants Twitter
• Fei Grants Medium

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