Link to the forum thread: https://forum.renproject.io/t/rip-000-005-launch-a-community-ecosystem-fund/698
This is the final vote for RIP-000-005. For background and context, read the above forum thread.
Proposed structure:
- Initial Ecosystem Fund fee claiming: 7.13%
- Custody held by RenVM
- Darknode Operators govern grant approval and funding levels
- Initial Funding Round planned to occur quarterly (but governance could quickly shift this rate and even the date for the first Funding Round)
- Funding Rounds distribute grants according to the quadratic funding model
- A separate fast lane grant system can be proposed separately and exist in in parallel
- Funding requests must specify a target amount. If less than the target amount ends up being allocated to the request (in accordance with the quadratic funding), then the funds are returned and used for next quarter. If more than 200% of the target amount ends up being allocated to the request, any excess is returned and used for next quarter