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 will get 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.
Max quarterly budget of up to $15,000 USDC for dev initiatives (liquidations, peg, products)
Max quarterly budget of up to $9,000 USDC for brand initiatives (content, design, advertising)
Max quarterly budget of up to $6,000 USDC for community generated content (social posting, integrations, introductions)
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 first iteration, the committee will be the Cryptex Core Team.
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 $30,000 USDC per quarter, with the ability to reevaluate at each epoch (each quarter). While the Grants Committee will be the decision-makers around the allocation at the end of each month.
The CCGP will be funded by the CTX treasury according to the $30,000 USDC specified each quarter.
As long as there is ETH (from burn fees) or another token in the treasury, it will be prioritized to use for the grants instead of CTX to prevent lowering the price at risk of the community.
Allocation will be done using Coordinape 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.