NDC Grassroots DAOs and House of Merit direct funding process for May 2024

NEAR Digital Collective
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NDC Grassroots DAOs and direct funding process for May 2024

2024-04-01 20.42.31
2024-04-01 20.42.311920Ă—960 223 KB

Funding process for Grassroots DAOs

Funding focus for Grassroots DAOs

P-1 Widening Adoption of NEAR, Outreach to New Audiences (Referral systems for the ecosystem, Demonstration of NEAR to non-blockchain communities: Education of the local communities, creators, and influencers; Activation of the protocol daily usage through gamification mechanics (for example, leaderboards)) - Continuous outreach to new audiences is the source of new community members and ideas. That’s why we believe this priority is a cornerstone for the NDC. Many initiatives fall into this category, and we intentionally do not want to limit what is possible.

To evaluate the results, please use the following metrics that will be used by DAO for tracking individual initiatives’ performance.

All the metrics must be attributable to the relevant project/initiative through on-chain activity and off-chain reporting, ensuring GDPR compliance and preserving privacy:

  1. Accounts retention after 1/2/4/8 weeks — the percentage of accounts who continue interacting on the chain over a given period (higher is better).
  2. Account acquisition cost — budget divided by the number of accounts interacting through the funded initiative (lower is better).
  3. Median number of dApps used by P95 accounts retained for 1+ week (higher is better).
  4. Number of accounts retained for 1+ week using at least three dApps (higher is better)
  5. Social engagement score — some compound metric of the number of posts, likes, and followers/views in social media produced by the users.

How to get funding?

Step 1 NDC BOS page Posting (April 1st- 7th)

Step 2. GDAO Governance Members’ Review (April 8th-12th)

  • GDAO governance members thoroughly assess proposals on the NDC BOS page between the 8th and 12th of April

Step 3. GDAO Governance Members’ Feedback (April 8th-12th)

  • Members actively provide feedback and make decisions on proposal support or rejection, publicly posted on NDC BOS page between the 8th and 12th of April

Step 4. GDAO Governance Members’ Decision

  • A proposal passes or is rejected based on a minimum threshold aligned with 51% of votes from GDAO governance members.

Step 5. Proposal Approved/Rejected:

  • A proposal receiving 51% or more positive feedback is marked as approved. Rejected proposals can be revised and resubmitted in the next month.
  • GDAO governance members can close proposals for various reasons. Please request to provide feedback from particular DAO governance members.

Step 6. Budget Compilation and Submission (April 12th-13th):

  • GDAO governance members compile the final NDC budget and submit funding requests to the House of Merit together with report for previous funding round. KYC/KYB processes for approved applicants begin.

Step 7. HOM Review and Voting (April 13th-20th):

  • House of Merit members review and vote on funding requests, providing feedback to Grassroots DAOs and applicants. The House of Merit’s point of contact provides necessary feedback to Grassroots DAOs.

Step 8. In Case of successful Approval by HOM:

  • HOM forwards the request to CoA for on-chain voting.

Step 9. CoA review (April 20th-21st)

  • CoA reviews and votes on-chain.
  • If CoA is not creating a proposal to veto within one business day after the approval from HoM, money transfers can be executed;
  • If CoA is creating a proposal to veto, then CoA members have five business days to vote on this, and money transfers are not allowed until the results of the voting or five business days (which would mean expiration and rejection of the veto proposal).

Step 10 KYC and NDC Trustees review and execution:

  • Once CoA approves, House of Merit initiates funds transfer from NDC Trust to the individual project wallet. KYC/KYB must by passed by the individual project before the request. **DAO should meets NDC KYC/KYB requirements. Please keep in touch with KYC/B lead Andreas (tg handle @AndreasAltamirano) to get help.
  • NDC Trustees execute the transaction if expenses align with the Trust’s objectives.

Step 11 Post-Transfer Execution:

  • Payments are disbursed to Grassroots DAO wallets and then to approved applicants who completed KYC/KYB for NDC

Important Notes:

  • NDC is not responsible for losses due to Near price changes. Delays may occur beyond NDC procedures and due to force majeure events.

House of Merit direct funding process for May 2024

How to get funding?

Step 1. Proposal Submission

Step 2. House of Merit Review:

  • Ones proposal received House of Merit members review and provide feedback on the proposals.

Step 3. Decision Process:

  • Proposals must secure at 8 of House of Merit votes for approval or rejection.

Step 4. Approval/Rejection:

  • Approved proposals are labeled [Approved], while rejected ones are labeled [Rejected].
  • Rejected proposals can be revised and resubmitted.

Step 5. Review and Voting by CoA:

  • HOM forwards approved proposals to CoA for on-chain voting (veto).
  • CoA reviews and votes on-chain.
  • If CoA is not creating a proposal to veto within one business day after the approval from HoM, money transfers can be executed;
  • If CoA is creating a proposal to veto, then CoA members have five business days to vote on this, and money transfers are not allowed until the results of the voting or five business days (which would mean expiration and rejection of the veto proposal).
  • The House of Merit point of contact is in charge of providing information about the approved proposals to COA within one day once they have been approved.

Step 6. Approval and Transaction:

  • Once CoA approves, House of Merit point of contact initiates funds transfer from NDC Trust to the individual project wallet. KYC/KYB for NDC must by passed by the individual project before the request. Please keep in touch with KYC/B lead Andreas (tg handle @AndreasAltamirano) to get help.

Step 7. NDC Trustees Transaction:

  • NDC Trustees execute the transaction if expenses align with the Trust’s objectives.

Important Notes:

  • NDC is not responsible for losses due to Near price changes. Delays may occur beyond NDC procedures and due to force majeure events.

List of legit Grassroots DAO wallets to receive funding from NDC Trust:

  1. Near Research Collective
  • research-collective.sputnik-dao.near
  1. Onboarding DAO
  • onboarddao.sputnik-dao.near
  1. Build DAO
  • build.sputnik-dao.near
  1. She is Near
  • she-is-near.sputnik-dao.near
  1. Aurora Community DAO
  • ac_dao.near
  1. Gaming DAO
  • gaming-dao.sputnik-dao.near
  1. Degens DAO
  • ndc-degens.sputnik-dao.near
  1. Marketing DAO
  • marketing.sputnik-dao.near
  1. Globe DAO
  • nearglobedao.sputnik-dao.near
  1. NFT DAO
  • nearnftwg.sputnik-dao.near
  1. Africa DAO
  • near-africa-community-dao.sputnik-dao.near
  1. Service DAO
  • service-dao.sputnik-dao.near
  1. Freelance DAO
  • freelancerdao.sputnik-dao.near
  1. SMM team
  • ndc-smm-v2.sputnik-dao.near
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