Proposal to create a DAO to choose how to disburse funding for community grants.
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.
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.
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.
This is a relatively light-touch way to ensure that strong, community-weighted consensus can be measured through the group of signers.
To be added
We have already engaged a team to build this contract.
Copyright and related rights waived via CC0.