Decentraland DAO scrutinizes grant proposal from MetaTrekkers and pauses vesting contract
The vesting contract for a grant secured by MetaTrekkers has been paused due to a lack of clarity and doubts surrounding fund allocation.
The proposal in question came from MetaTrekkers and requested grant funding of $120,000 to hold a series of concerts and DJ battles. MetaTrekkers has held events for over a year, and their first large event was Dubfest. The twenty-four-hour music event featured twenty-four musicians and took place in the metaverse.
MetaTrekkers' high-level view is obtaining grants from the Decentraland DAO to create a platform that supports artists and draws a steady flow of users for the environment through musical entertainment.
Their most recent proposal has come under the scrutiny of the Grant Support Squad. This concern started with Shiny, who questioned the number of attendees following a tweet from MetaTrekkers. Shiny also asked why such a small percentage of the total grant was going to DJs/ Artists (22,000 overall out of 120,000).
Tudamoon followed up this critique citing that MetaTrekkers had not updated their roadmap and were two weeks behind. There was also a lack of communication regarding a missed event: the Venice Music/ Independent artist concert.
Next, Zino, a member of the Grant Support Squad, gave a full analysis and breakdown of the grant proposal versus the delivered results from MetaTrekkers:
In conclusion, the project is delayed; it´s not clear where the funds are being allocated; what the Grantee has proposed has not been achieved or is overdue; there are substantial differences between the roadmap written in the proposal and what the grantee is doing, principally with the objective of the project.
Zino invited MetaTrekkers to explain and provide a full breakdown of spending to date. MetaTrekkers did reply, but the response was vague and merely promised delivery of the requested information at a future date.
Following this Yemel announced:
The vesting contract has been paused based on the presented evidence.
And TheGoldGuy followed up by stating:
The 60k already collected by MetaTrekkers should pay the venue owners and DJs the remaining balance owed in USDC on the blockchain * trackable reasons*, not USD. The remaining community funds should be returned to Decentraland DAO for future approved grants.
The general issues arise from a lack of communication, vague budget breakdowns, lack of delivery, questions regarding the popularity of the musicians, and the response from MetaTrekkers which has focused on maintaining their image and perception as opposed to addressing the root cause of the issue.
The Decentraland DAO awaits a response from MetaTrekkers to investigate further and resolve the issue, and the vesting contract has been paused for now.
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