Why We’re Hitting the Gas on NDC Funds, and pause on temporary NF grants.
Hey HoS Community,
As the Head of Governance, I am genuinely energized by the enthusiasm around the House of Stake (HoS)! We see great proposals starting to form, and we’re all eager for HoS to start making a real financial impact.
Here’s the rundown of where we are and a critical strategic move we’re making:
Building Our Foundation
We’re currently working hard to finalize the HoS Constitutional Documents. This is the core body of policies that ensures our governance is stable and legitimate for the long haul. At the same time, we’re seeing the first requests for funding proposals arrive, a great sign that the community is ready to build!
The Current Financial Picture
Let’s be real: HoS doesn’t have its full, independent treasury set up just yet.
However, the NEAR Foundation (NF) has already stepped up with temporary grants to fund validator and veNEAR locking rewards (HSP-002/-003). This is 100% in line with our goal: boosting veNEAR lock-up to increase the legitimacy and power of the HoS system.
Full Focus on NDC Funds Transfer
After some discussion with NF, we’ve mutually agreed to focus all our energy on the NDC funds transfer instead of going after more small grants for HoS proposals.
We are temporarily pausing new HoS funding proposals until the NDC funds transfer is complete and our full treasury is online.
This decision is based on several key factors:
- Avoid Administrative Delay: Securing an individual grant from NF for each new HoS proposal would require navigating a lengthy legal and compliance process. This timeline is uncertain, and there is a risk that a decision on an NF grant could conflict with the eventual HoS community vote outcome, resulting in duplicated effort.
- Efficiency and Speed: We have concluded that directing all our focus toward the NDC funds transfer is the most efficient path forward.
- Accountability and Independence: The successful transfer of NDC funds is the key to granting HoS full fiscal flexibility and self-accountability. This action is foundational to establishing HoS as a truly autonomous and legitimate governance body.
What this Means in Practical Terms:
- For proposals already submitted (with a funding ask): These proposals are on hold, we will continue the process (e.g. Screening Committee review) once the NDC funds are available, following the proposal process definition.
- For any future proposals (with a funding ask) submitted: These proposals will not be approved for voting until the NDC funds are transferred. The process will continue once the funds are available, following the proposal process definition.
- If an existing proposal removes its funding ask: We will consider this an altered proposal. The process will restart with the forum feedback period, so please post the altered proposal on the forum.
This whole strategic focus is all about getting the resources we need to run the NEAR ecosystem ourselves, full legitimacy, full impact, ASAP.
We really hope this clears things up for everyone, especially the proposal authors and delegates.