Hey everyone! I would like to share some updates regarding the Ecosystem Grants Program — Tranche 2. For this second phase, the teams will have more time to discuss with their communities and to prepare a complete proposal in the forum. The goal is to make sure our Moonbeam Community receives quality proposals and has enough time to review and discuss each one of them.
June 19th to July 3rd: Proposal Submission Phase
Teams will be able to submit their Tranche 2 proposals on the Moonbeam Forum, making sure they are following all guidelines and requirements highlighted in the Revised Grant Program post, as well as the supplementary rules at the end of this post. No proposals will be accepted after July 3rd, so be mindful of posting your grant request PRIOR to July 3rd, 11:59 PM UTC.
July 3rd to July 17th: Community Review Phase
During this period, the Moonbeam Community Grants Committee will initiate the diligence process over all proposals received. All applicants will receive thorough feedback by July 12th, 10:00 PM UTC and they will have until July 17th to reply to the Community Grants Committee and update their proposal if required. It’s important to highlight that no proposal changes will be accepted after July 17th, 11:59 PM UTC.
Community members outside the Community Grants Committee are strongly encouraged to participate in this phase as soon as the Phase starts, since all questions and comments will also be taken into consideration by the Grants Committee. Since
July 18th to July 23th: Snapshot Vote Phase
On July 18th the Community Grants Committee will initiate the Snapshot vote that will define the allocation of GLMRs for each participant, following the rules established here. The Snapshot vote will have a 7-day duration and will end on July 23th. More information here.
A Community Voice Event will also occur in this phase, where Moonbeam community will be able to hear from the grants participants directly. More information about the event will be disclosed later on.
July 24th to August 4th: On-Chain Vote Phase
After the Snapshot vote is completed, the on-chain vote will start, reflecting the allocations voted on the previous phase. The community will have the standard two-week period to vote.
August 4th:Ecosystem Grants Tranche 2 Initiated
We made it! On August 4th MBF will start to transfer the funds to each team according to their milestones outlined in their final proposal.
- Tranche 2 requirements are the same outlined as in the original proposal. Below are key reminders and more detailed notes for the applicants.
- The grantee will need to have their entity registered and ready to receive the grants. That means that every grantee receiving grants will go through a KYB process that needs to be completed prior to August 3rd, 11:59PM UTC.
- MBF will prepare and send the Collaboration Agreement for this grant during the On-Chain Vote Phase. Teams must provide MBF with their entity information in order to create the agreement,
- Each application should have clear milestones and targets. It is recommended a minimum of three milestones. The GLMR distributions will be tied to these milestones
- Teams should keep in mind that while they may ask for the maximum amount (2M GLMR), the community may not give them the full amount during the snapshot vote. In fact, all 4 of the grant teams for Tranche 1 got less than they asked for. When setting targets, teams pro-rate those targets in 4 bands; i.e.
If we receive 500K GLMR, we will aim to achieve X target
If we receive 1M GLMR, we will aim to achieve Y target
If we receive 1.5M GLMR, we will aim to achieve Z target
If we receive 2M GLMR, we will aim to achieve A target.
The Foundation will use these targets as milestones in the grant agreement to act as a gatekeeper for releasing funds.
- Teams should indicate in their proposal when they are planning to launch their protocol , emission program or other deliverable that is tied to the grant
- Teams that receive the grant should update the community via the forums on progress on a regular basis; a minimum of 1 update per month is required.
- In addition, the Foundation may require the team to share performance statistics and metrics on a regular basis.
Feel free to share your thoughts!