Community Grants for similar functionality projects

This proposal is to decide on our approach with similar tools in the one funding round. Currently there are two ‘auction tools’ and two ‘wallet’ tools that have passed the Discord temp check and first set of additional questions.

Wallet Tools

• Diax
• IMX Bridge

Auction Tools

• AuctionX
• IMX Trade

We would like your input for the following. Should we;

Option a) Fund all the projects that passed temp check and first set of additional questions

Pros

• More than one solution for one problem (e.g. some people use biswap, others use PancakeSwap.
• Support more developers in the IMX Ecosystem.

Cons

• Less competitive environment (will we get high quality projects?).
• Instead of an ecosystem with different tools, we are building more of the same tools.

Option b) Fund one of each project type (ask for further details to features/roadmap/milestones and let the community choose the ‘best’)

Pros

• More competitive environment (pushing projects to produce higher quality).
• Developers can pivot and build more unique tools - improving functionality of the ecosystem as a whole.

Cons

• Support fewer developers in the IMX Ecosystem.
• Slower, more labor intensive process to draw out the information to decide which projects is ‘better’.

Check out the Discord Discussion here https://discord.com/channels/765480457256042496/917902025231069194

Note: For the meantime this will impact the current funding round only. Based on the learnings from this round we will make some meaningful changes to V3 of the Community Grants that will address this situation.