We're incredibly excited to announce the grants program. Grants enable voters to continuously allocate funding to people that build for Vrbs. View the grants program here.
Thanks to Superfluid streaming, you can vote and update your votes for different grants at any time. Grants recipients earn a constant stream of funding every second proportional to the number of votes they receive.
Instead of having to vote yes or no on a proposal, or read many proposals during a round and pick your favorite, funding happens continuously and can be updated on the fly. Our belief is that this is lower risk and a more natural way to allocate capital.
The DAO proposal experience is subpar for both builders and voters. As a builder, you have to do price discovery on a budget, write a big essay, and you never know if the next paycheck will come. As a voter, you have to consider every proposal and vote yes or no even if you feel conflicted.
For builders like us, having a predictable income stream makes our lives a lot easier. With grants we can focus on what we do best, building.
See a new initiative you care about from a reputable builder or creator? Allocate them a % of your voting power, and they will earn money every second to keep creating.
Builders then share fun progress updates on Farcaster by linking to their grants application. Updates are visible on vrbs.build and show up on the homepage and grants page. As new updates are posted you can reevaluate the success of the grant you are funding and readjust your votes if necessary.
Our favorite part about the grants program is how positive-sum it is. As you help to grow Vrbs and the revenue coming into the DAO increases, the grants pool grows, and you can earn more money for your efforts.
Everyone now has a clear incentive to work together to grow Vrbs, and get paid every second to do it.
We will set the flowRate
on the pool to $4k USDC a month. This means all grants recipients will split $4k of funding every month, proportional to votes received.
grantsRateBps
to 15%.15% of future DAO revenue goes to the grants program. Note: this does not impact creator revenue. This basically redirects 15% of funds that would normally go to the DAO treasury to the grants program.
To move quickly until we have contracts to trustlessly manage converting ETH to USDCx, we created a 2/3 multisig with Jerk, Woj and myself to manage the grants funds as they come in. We will convert the ETH received to USDCx and send to the pool periodically.
We plan to introduce sub-grant programs soon. Imagine a Vrbs marketing budget where people earn for helping with Vrbs marketing. h/t (@vetchy_)
As a creator, you'd have a clear avenue to participate and earn a share of the marketing budget every second. As a voter who doesn't know about marketing, all you have to do is allocate some votes to the top level marketing budget. You don't have to go deeper than that if you don't want to or don't have domain expertise.
The goal of the Vrbs protocol is to enable anyone to earn a vote for their efforts. We are planning to introduce streamed votes to recipients as part of the grants program as well. Stay tuned for updates!
Thanks for reading,
- woj and rocketman
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