SIP 39: Set up GrantsDAO Source

AuthorGarth Travers
Discussions-Tohttps://discordapp.com/invite/AEdUHzt
StatusImplemented
Created2020-01-30

Simple Summary

Proposal to create a DAO to choose how to disburse funding for community grants.

Abstract

We’ll set up a contract with 5 signers to vet grant proposals to contribute to the Synthetix community. This will represent the first, transitional phase of Synthetix’s shift to decentralised governance.

Motivation

Community grants are currently disbursed by the Foundation. However, moving this process to a DAO will add transparency to the grants decision-making as well as providing invaluable data around how to coordinate future Synthetix DAOs.

Specification

There will be 5 signers, and for a grant to pass and receive funding it will require 4 approvals. If the community reaches negative consensus around a signer’s performance, they can vote to replace that signer.

Rationale

This is a relatively light-touch way to ensure that strong, community-weighted consensus can be measured through the group of signers.

Test Cases

To be added

Implementation

We have already engaged a team to build this contract.

Copyright and related rights waived via CC0.