Teams or individuals looking to receive funding submit a proposal to the DAO in which they provide details of the project or experiment they wish to fund.
All proposals are subject to:
An Initial Scientific Review
This is an initial ‘sanity’ check by a panel appointed by the DAO. It looks for sound reasoning in the proposed project, any obvious shortfalls in it’s approach and that all the proposal questions have been answered fully.
A Community Review
This is a period of 30 days where community members can discuss (facilitated by our Discord server), comment, and review each proposal. Each member rates the respose to the proposal questions and an average is totaled. The goal is that the scores for each question give an indication of the communities overall support for the project.
A vote to approve funding
After the community review peried, the proposal is packaged and passed to Snapshot for an on-chain vote to approve or reject the funding request. This is done so that a permanent record of the propsal and the vote outcome are kept and available for all to see.
If the commumity votes to approve funding for a proposal, the person who submitted it will be contacted by the DAO admins to arrange transfer of the funds from the treasury. KYC (Know Your Customer) checks will be carried out at this stage to comply with anti money laundering laws.
If the community votes to not approve funding, the person who submitted the proposal will be informed of the result. Note: A rejected proposal does not prevent anyone from submitting again, however significant consideration must be given to the changes required to imporove the chances of any future proposals.