MIP-21 - Merit Circle Grants

This proposal requests tokenholder approval for the implementation of a Merit Circle DAO grants arrangement.

The Merit Circle DAO consists of large quantities of talented individuals all having their expertise in their respective fields. For the purpose of stimulating these individuals to step up and contribute to the Merit Circle DAO, we propose that the DAO forms a committee that is granted the right to offer relatively small grants that will allow these developers/creators to focus on their project for a brief period of time. This period is meant to quickly figure out whether there’s product market fit, and whether the project requires additional funding.

To fund this grant system, an ongoing budget of up to 150,000 USD (USDC) per quarter is requested. The maximum amount that can be utilized for grant purposes per quarter is USD 150,000, but only up to a maximum of USD 10,000 per applicant for a research grant and up to a maximum of USD 25,000 per applicant for a development grant. Anything above these amounts will require going through the wider community before instruction to the multisig.

Please click on the link attached to read further details on the proposal and the discussions in this regard.

Do you agree with adopting a grant arrangement for Merit Circle DAO as set out in the proposal?