Thank you, everyone, for patiently following up on this proposal, and thank you @adam for all the assistance to help me navigate through the app. Iāll update here once the voting begins, it is currently in the review phase. This is the tentative voting cycle
Thanks. That all makes sense and is helpful. Iāll vote for this proposal.
Iām generally supportive of better tooling and decentralization.
Iād be interested to know more about the KYC requirements and what will be charged for services surrounding that ā 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. Thatās all!
Itās becoming a common standard within grants programs. Nothing new. Please tell me if you need further information.
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.
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.
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. BLGās 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.
Youāre 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.
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!
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?
Thatās 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 donāt even have a process in place yet, so I donāt 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 havenāt seen anyone initiate the process to create standards and procedures for going multichain until now. Iām 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!