[Temperature Check] Grants for Stakehouse LSD Networks Contributions

Proposal Discussion
1

[Temperature Check] Grants for Stakehouse LSD Networks Contributions

Introduction

This Temperature Check seeks to gauge the Blockswap DAO’s interest in providing grants of BSN tokens to individuals who wish to make valuable community contributions to Stakehouse LSD Networks. As a cutting-edge product, Stakehouse LSD Networks has the potential to bring significant value to the Ethereum and DeFi markets, and community engagement is crucial to realizing this potential.

Motivation

To drive meaningful adoption and growth of Stakehouse LSD Networks, the DAO should actively support various types of contributions that can enhance its utility, awareness, and usage. Providing grants to community members who contribute in different ways can lead to a stronger DeFi ecosystem and increased value for BSN holders.

Establishing the Grant Council

To ensure that the grant application process remains transparent, decentralized, and community-driven, a Grant Council will be established. This Council will be responsible for reviewing applications, approving proposals, and determining the BSN token allocation for successful applicants. This council should consist of 3-7 members.

Council Formation

Community members interested in joining the Grant Council can nominate themselves. Nominations will be accepted through the DAO governance forum. There will be a special category for this added to http://gov.blockswap.network/

Discussions can also be held on the governance forum, Discord server, or any other medium the community would like to discuss. There will be a community call where the community can discuss the candidates and select the final candidates for the Grant Council. This Grant Council will then be moved to a vote all at once in Snapshot.

Council Responsibilities

  1. Reviewing Applications: Council members will collaboratively review grant applications submitted by community members, evaluating them based on the established guidelines and criteria.

  2. Assigning Token Values: The Council will determine the appropriate BSN token allocation for each approved proposal, taking into consideration factors such as project scope, impact, timeline, and required resources.

  3. Monitoring Progress: Council members will be responsible for tracking the progress of funded projects, ensuring that grant recipients are accountable and that the allocated resources are used effectively.

  4. Providing Feedback and Guidance: The Grant Council will offer support and guidance to grant recipients throughout the project duration, ensuring that the community contributions align with the goals of Stakehouse LSD Networks and the Blockswap DAO.

By establishing a Grant Council, the grant program aims to foster a more transparent and community-driven approach to supporting valuable contributions to Stakehouse LSD Networks and the Blockswap DAO. This decentralized decision-making process will ensure the grant program remains aligned with the community’s interests and priorities.

Implementation

If the community expresses interest in this initiative, the following steps will be taken to establish and manage the grant program:

  • Nominations for the Grant Council will be accepted 1 week after a successful vote in favor of this Temperature Check. Within 1 week of the Grant Council nominations date, the final nominations will go to a vote within 7-10 days.
  • The DAO will allocate 50,000,000 BSN for the grant program. The final acceptance date for applications will be 120 days after the council is finalized.
    • 47,000,000 BSN tokens total for grant applicants.
    • 3,000,000 BSN tokens split amongst the Grant Council.
  • After the final deadline for all grant projects has passed, the remaining BSN will be returned to the DAO.
  • The Grant Council will receive tokens after the final grant has been distributed.
  • Blockswap DAO empowers Blockswap Labs to design, develop, create, support, and execute this outline in a way they think is best for Blockswwap DAO.

Possible Community Contributions

Community members can contribute to Blockswap DAO and Stakehouse LSD Networks in various ways, including but not limited to:

  • Developing new tools or enhancing existing ones for Stakehouse LSD Networks.
  • Creating educational content, such as tutorials, guides, podcasts, videos, and blog posts, to promote the understanding and adoption of Stakehouse LSD Networks.
  • Organizing or participating in community events, workshops, and webinars to engage with the wider DeFi community.
  • Marketing and promoting Stakehouse LSD Networks through social media, public relations, and other channels to raise awareness and attract new users.

Guidelines for Applicants

Applicants should submit detailed proposals, which include:

  • A clear description of the specific community contribution they wish to make for Stakehouse LSD Networks.
  • A comprehensive timeline for the completion and delivery of the proposed contribution.
  • Information on the applicant’s experience, skills, and any relevant background in DeFi, Ethereum development, marketing, engineering, or other applicable areas.
  • If required, a plan for post-contribution support, ensuring the sustainability and continued impact of the contribution.
  • An outline of any outside support they may need from the community or Blockswap Labs team.
  • How to contact and communicate with the applicant.

Grant Application Process

To ensure a transparent and efficient application process, the following steps will be implemented for community members interested in applying for a grant:

Submission: Applicants must submit their detailed proposals on the DAO governance forum, clearly outlining the community contribution they wish to make, as described in the “Guidelines for Applicants” section above. A special category will be created for this in the DAO governance forum.

Community Engagement: Applicants are encouraged to promote their proposals within the Blockswap community, including discussing them on Discord and sharing them on Twitter. This will help raise awareness and gather support for their ideas.

Review Period: The Blockswap community can signal their interest in each community contribution. Blockswap Labs will make a technical assessment. The Grant Council will also evaluate the scope.

Decision: After the review period and any necessary follow-up discussions which may extend past the review period, the Grant Council will inform the applicant and Blockswap community of their decision regarding the grant application. If approved, the applicant will receive the allocated BSN tokens after the successful completion of the project.

Progress Updates and Accountability: Grant recipients will be required to provide regular progress updates in Blockswap Discord whenever requested by the Grant Council to ensure accountability.

By implementing this application process, the grant program aims to encourage transparency, fairness, and efficiency in the distribution of BSN tokens to community members making valuable contributions to the Stakehouse LSD Networks and the Blockswap DAO.

Conclusion

This Temperature Check aims to assess the Blockswap DAO community’s willingness to support various community contributions to Stakehouse LSD Networks. By offering grants to talented and dedicated community members, the DAO can contribute to the growth and success of the protocol while fostering innovation in the DeFi ecosystem.

Achieving a quorum for a proposal in the Blockswap DAO requires the participation of at least 200 million BSN tokens. However, due to the limited distribution of BSN tokens currently in circulation, reaching the necessary quorum may prove to be challenging. To address this, multiple proposals and temperature checks may advance to a vote simultaneously. This approach ensures that the proposals’ advancement generates enough community interest and engagement, rather than being hindered by the limited availability of BSN tokens.

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