Thanks. That all makes sense and is helpful. I’ll vote for this proposal.
I’m generally supportive of better tooling and decentralization.
I’d be interested to know more about the KYC requirements and what will be charged for services surrounding that – are you referring to the need to screen under the OFAC list, etc.?
Hi, I am part of the legal team which is assisting Questbook.
The KYC provider will apply the usual standards concerning the evaluation of risks (UBO, geographic area, type of activity). We want to avoid that Compound or Questbook get associated with illicit activities. That’s all!
It’s becoming a common standard within grants programs. Nothing new. Please tell me if you need further information.
The proposal is live for voting now!
If you hold COMP, please vote. The voting ends in the next 48 hours. Thank you.
Update: The proposal has passed!
Thank you everyone for your consistent support throughout.
We are putting our heads down and working towards what we have promised.
Will be sharing the next plan of action very soon on this thread.
Thanks once again for the trust the community has put in us.
Update: Confirming here that the transaction is executed, and the tokens have been transferred to the SAFE.
Compound Grants Program 2.0 goes live on 16th January 2023.
Here is everything you need to know!
CGP 2.0 will be run by Questbook and led by Harsha, who will be the program manager. This is a community-run grant program. Grants are spread across four domains, each led by a Domain Allocator(DA).
Each DA will rigorously review all proposals and disburse up to $200K over the next six months. They will also mentor builders, give feedback on proposals and ensure milestones are met.
The domains and the respective DAs are:
- New protocol ideas and dApps by allthecolors
- Security Analysis Tools & Security Bounties by Michael
- Developer Tooling by Madhavan
- Multi-chain Strategy by Bobby
CGP 2.0 will prioritize:
- Transparency in fund disbursement, everything is on-chain.
- Turn-around time (TAT) of 2 days.
- Oversight and mentorship to make sure milestones are hit.
Blockchain Lawyers Group (BLG) will be working with us to ensure legal compliance. BLG’s independent legal advisors will support CGP 2.0 with contractual drafting, KYC standards, and any legal issues that may arise during the grant disbursement phase, and provide early-stage legal support to projects.
You’re all caught up now. If you or someone you know is passionate and believes they can contribute meaningfully to Compound, we encourage you to apply through the QuestBook tool on the 16th.
We are looking forward to your proposals.
For more information about the program and how it was developed, check out this thread.
If you have questions, please reach out to us in the #grants channel in the Compound Discord.
Awesome to hear. Will reapply as we know previous weren’t seen. Thanks for all the dedication!
Here are the one-pagers from the domain allocators about their domains for CGP 2.0. The program is going live on 16th January, please feel free to share any feedback you have on any of the programs here. These documents have comment access to everyone with the link. Thank you!
For some ideas of multichain strategy, the deployment priority should be as follows:
For the above public chain, no introductory discussion is made and the topic is directly addressed.
I am currently mapping out a process for people to deploy Compound on other chains. We will provide a public evaluation metric to fairly evaluate the applications as they come.
We have listing standards, but these standards have not been successful in listing any new assets. I support proposing a fair standard for evaluating the priority of public chains, or publicly allowing public chains to provide matching incentives to compete and improve their priority, but I think the first support for public chains needs a deadline, within a month or within a quarter?
That’s a fair point, chains can provide incentives to provide a more attractive option, but it boils down to various factors; chain stats, team behind deployment, matching incentives, technical aspect of the chain etc.
Fortunately, these discussions will all occur publicly so we can discuss our preference to deploy Compound III on certain chains.
A deadline to deploy compound on another chain? We don’t even have a process in place yet, so I don’t think we should rush this, by setting an arbitrary deadline. We rather focus on creating a sustainable process.
Aave discussed its multichain strategy in February 2021, successfully deployed to Polygon in March, and deployed to Avalanche in October.
Compound multichain strategy proposal was presented in January 2022, but has yet to be truly implemented. Now, 12 months have passed and we are still in the process of determining standards and procedures.
I am not really asking for a deadline and I do not think that Compound is worse than Aave. I think that efficiency should be valued, and we have delayed for too long. I look forward to your efficient work.
As far as I know, I haven’t seen anyone initiate the process to create standards and procedures for going multichain until now. I’m sure we will implement this process swiftly, and Compound deployed on other chains.
I will release a CIP tomorrow or Monday to simplify the multi-chain deployment process. I look forward to seeing your feedback on that, and feel free to reach out to me if you know anyone who wants to get involved in deploying Compound on another chain!
Summary of the first quarter
- Total Proposals Received: 75
- 29 proposals approved [38.6%]
- 15 applications first milestone completed
- 2 2nd milestone completed
- 1 3rd milestone completed.
The total amount of funds committed
Total amount of funds disbursed
- Doo will be representing stablelab for the second quarter of the grants program instead of Bobby.
- The allocation of funds for the domains in the second quarter will be proportional to the approved grant budgets in the first quarter.
Details, feedback and progress of all the proposals can be viewed here: https://questbook.app/
Hello this is Doo from StableLab. As an update,
We would like to receive funds to the address 0x9c489E4efba90A67299C1097a8628e233C33BB7B
And we confirm we control this address
Posting another confirmation from stablelab.eth, which is 0xea172676E4105e92Cc52DBf45fD93b274eC96676 to change the address to receive funds to 0x9c489E4efba90A67299C1097a8628e233C33BB7B
Hi everyone, as we are nearing the end of CGP-2 we are closing the applications on June 30th. The TAT for these applications will be ~2 weeks, you’d receive the response on these applications before July 16th.
All unallocated funds (allocated funds = committed funds for the approved grant applications.) will be returned to the Treasury at the end of the program.
We will be having a demo day of all the approved grant applicants soon. Stay tuned Thank you, everyone, for the kind support throughout!
What are the plans for after CGP 2.0? Will there be a request for 3.0?