SuperRare DAO considers launching Grants Round 1 with 500K RARE tokens

Brennan Mulligan, the new DAO Program Manager at SuperRare Labs, has proposed launching a grants program to fund several community-based projects.

Dubbed SuperRare Grants Round 1 (GR1), the proposal seeks to allocate 10% of the 5 million RARE in the Grants budget to the initiative. If approved, 500,000 RARE tokens will be used to fund developments across four categories - Platform & Protocol, Artware & Algorithms, Community & Education, and Data & Analytics.

It is worth clarifying that the idea is still being discussed in the community and is not up for voting. According to Mulligan, the proposal is in a “review period,” and will stay open to feedback from the community and council until December 1. At the end of the feedback period, the council will vote on establishing a grants committee and launching GR1. The program is expected to run from December 1, 2022, to February 28, 2023.

“Even though this is ultimately being decided at the council level, I feel it is very important to keep the community informed and create the opportunity for public comment,” Mulligan said.

The four-man grants committee will be responsible for stewarding the program and allocating funds to projects. Mulligan will serve as the committee chair, with help from Rohit Kapoor, Zachary Kolodny, and Chikai Ohazama.

As per the proposal, applications for funding will go through a four-stage process involving screening & optimization, formal evaluation, committee vote, and milestone review. A member of the committee or a third-party SME will also be assigned to help each applicant with optimizing their proposals. Meanwhile, at least three out of the four votes must be in favor of a proposal before funds can be released.

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