Compound Grants Program

Update - 3/8/11
Thank you to everyone who weighed-in on the proposal! The community gave a lot of really good suggestions, a good portion of which we will incorporate into the final proposal. We’ve made the following updates after listening to the community:

Proposal updates

  • Committee membership: to improve the technical sophistication of the committee, we’ve replaced Ken with Nick Cannon from Gauntlet. Gauntlet has successfully passed several technical updates to the protocol. The committee will benefit from having them onboard. We’ve also swapped in Min Teo from ConsenSys and Leighton Cusack from PoolTogether, who will be taking the place of Ryan and Sam (shout-out to @massnomis who posted the original idea for a grants committee). Playing committee Tetris wasn’t fun, but we think it was well-worth the effort — thanks to feedback from the community, the committee is way more well-balanced than before. The final committee will include:

    • Larry Sukernik (Sheepshead Bay, LLC)
    • Jesse Walden (Variant)
    • Getty Hill (Grapefruit Trading)
    • Monetsupply (Independent)
    • Aparna Krishnan (Opyn)
    • Leighton Cusack (PoolTogether)
    • Min Teo (ConsenSys)
    • Nick Cannon (Gauntlet)
  • Grants program amendments: during the community’s first Clubhouse call, @arr00 made a wonderful suggestion. If we need to make changes to the grants program after the proposal passes, it wouldn’t be practical to set up a formal governance proposal just for making small changes (e.g., swapping committee members around). Instead, @arr00 proposed the grants program set up a Snapshot page for the community to vote on amendments to the program. Setting up the Snapshot will require writing a bit of code (querying the amount of COMP delegated to addresses that vote). If the proposal passes, we will provide a grant to any community member who can help write this code and set up the Snapshot! While we’re on the topic of the grants program structure, we’d like to remind everyone that none of the grants program committee members are being elected into permanent roles. Once the pilot program wraps up in six months, the committee will be disbanded, allowing any community member(s) to set up a new committee with a fresh slate of members.

We will be posting the proposal on-chain tomorrow from Gauntlet’s address, 0x6626593c237f530d15ae9980a95ef938ac15c35c. Why are we using Gauntlet’s address? Gauntlet has ~126k COMP delegated to them, allowing us to more quickly post the proposal (as a reminder, Compound governance requires addresses to have 100k COMP to make a proposal). We’re excited about providing grants to the Compound community, so the quicker we can start, the better!

If you are in favor of the proposal, please vote once it’s posted on-chain! (You will see the proposal tomorrow at compound.finance/governance/proposals).

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