The mission of the Cryptex Community Grants Program (CCGP) is to start small and validate the methodology used to fund initiatives that provide valuable resources to help grow the Cryptex ecosystem. Through public discourse and inbound applications, the community has gotten first-hand exposure to identify and respond to the most pressing needs of the ecosystem, as well as the ability to support innovative projects expanding the capabilities of Cryptex. By rewarding talent early with incentives, bounties, and infrastructure support.
For community initiatives (Authors, Designers, Analysts, SEO, etc.).
Max quarterly budget of up to $36,000 USDC ($12,000 USDC / month)
Max quarterly CTX bonus of up to $15,000 USDC ($5,000 USDC / month)
If max quarterly budget isn’t reached, funds can be used for other initiatives or be rolled over to the next quarter. Budget and caps will be assessed every three months.
Grant Allocation Committee:
For this iteration, the committee will be the Cryptex Core Team and any contributors that were active in the previous Epoch.
While the goals and priorities of the grant program will be thoroughly discussed and reviewed by the community through this forum, the decision to start by operating as a small committee is to ensure that the application and decision process will be efficient and predictable, so applicants have clear objectives and timely decisions.
This proposal recommends a max cap of $51,000 USDC ($36k + $15k) for Q4, with the ability to reevaluate at the end of each quarter. While the Grants Committee will be the decision-makers around the allocation at the end of each month (Epoch).
The CCGPQ4 will be funded by some of the surplus of USDC from CIP-8.
Allocation will be done using Coordinape 6 a tool created by the Yearn team for Part-Time contributions, where the task are logged and at the end of each month the core team will assign the distribution accordingly.
For operational efficiency and comfort for contributors, grants will be issued at a fixed date every month.
Approve community grants program Q4.
Don’t approve the budget.