Now that Batch #1 is complete and the results have been reported to the community, I’d like to propose the allocation of 50K BAL from the Ecosystem Fund for a second batch of grants.
Grants will continue to play a vital role in the growth of the Balancer ecosystem. They are a powerful mechanism to attract and reward high quality projects and services from the community that increase the utility of the Balancer protocol and the vibrancy of our community.
As in Batch #1,
Balancer Labs will be responsible for deciding on the specific grant distribution to avoid governance micromanaging the decision process for each single grant. After a grant batch is fully allocated (if there is some left-over, it will be added to the following batch), a report with the grant allocation in that batch will be released to the community and a request for approval of a new batch will be voted on. This dynamics ensures that Balancer Labs has to do a good job at grant distribution since if this is not the case a new batch of grants might not be approved.
Allocate 50K BAL from Balancer Labs to a variety of teams and individuals who build value-creating projects or provide vital services for the Balancer protocol and community.
Grant sizes equal to or below 1,000 BAL will receive 100% liquid BAL tokens.
Grant sizes above 1,000 BAL will receive BAL tokens that are subject to a 1 year vesting period.
Recipients of vesting grants will also have the option to supply ETH to pair with their granted BAL, converting the grant into the 80/20 BAL/ETH BPT, thus earning compounding fees during the vesting period.
The vesting policy is intended to simultaneously ensure that:
- We are providing a strong incentive for top-notch developers, service providers, and other community members to contribute their energy to Balancer.
- We are strongly aligning long-term interests with partners with whom we enter large agreements.