Location: Discord General Voice Channel

Meeting Minute Writer: Asa Dahlborn

Link: https://docs.google.com/document/d/1DVGXuDNTL9gRhdvVDs82Tns2tjD3qJ_eOloRehtypsw/edit

Shimmer Community Grant Committee

Co-lead

• The committee leaders will review someone to be the co-lead. If the lead would be on away for any reason, the co-lead would continue the operation and organize election of a new lead with a community vote.

Committee serving period

• One month before the end of the 12-month committee serving period, decisions to continue or end have to be made in order to transition into the next serving period.
  • The timeline of one month can be adjusted at a later stage if more seems to be required
  • Important to secure costs of operation shutdown

Tiers

• The tier thresholds need to correspond to the market value.
  • Shimmer market cap < 50 million USD → no grants given out
  • Shimmer market cap 50-100 million USD → only lower tier grants given out
  • Shimmer market cap > 100 million USD → normal tier grants given out
• Suggestion to initially include two grant reviewers for tier 1 (up to 5000 USD) instead of just one

Tiers and KYC

• While no KYC is required from proposer seeking grants in the tier 1 category, handing out funds to US citizens may pose legal risks
  • Phylo to check with IOTA’s legal team if all team members need to do KYC even for lower grant amounts
• Many other grant programs require every team member to do KYC for higher grants. This avoids that someone for example is used for a short amount of time to do KYC without actually being involved in the whole project.

Anonymous decision-making

• When the decisions by the committee are published, no information on what each committee member voted is to be shared.

Application form for projects (recently added by Phylo)

• Details of team members
  • Number of team members
  • Details about every team member, links to relevant portfolios etc.
• Project
  • Details such as name, links, etc.
  • How does it benefit the ecosystem?
  • Details on milestones, deliverables, etc.
• Project goals
  • Expected milestone reward