Cycle 2 Information and Advice

Cycle 2

Information

Important Dates

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  • Cycle 2 officially began on April 9th, block 19618746
  • The screening stage will run until June 22nd, block 20144346
  • The funding stage will run from then until July 2nd, block 20216346
  • The challenge stage will run from then until July 9th, block 20266746
  • Grantees may claim their AJNA after July 9th.

When Should I Vote?

Stage Date
Screening Stage 06/17/24 - 06/22/24
Funding Stage 06/22/24 - 07/02/24

When Should I Submit my Proposal On-Chain?

Stage Date
Screening Stage 06/01/24 - 06/17/24

Anticipated Grants

All grants and grant ideas are tracked in this publicly available spreadsheet.

Advice

Context

  • Delegates cannot modify their votes once placed.
  • Proposers cannot modify their asks once submitted on-chain.
  • Grants are awarded in AJNA.

Submitting Your Grant Proposal

For Grantees

Surplus or Deficit Scenario Planning

This first cycle is particularly tricky when it comes to getting what you ask for in terms of fiat-denominated value. While an AJNA price is expected to come about sometime this week, the fact is that it will carry with it some price risk. Meaning if someone asks for $100,000, priced at 0.10 per AJNA they will be inputting a 1,000,000 AJNA request on-chain. If by the time the grant is approved and becomes claimable the AJNA token doubles to 0.20 or halves to 0.05, this leaves the grantee in an awkward situation.

In the case of a surplus the receiver may end up with more than their intended budget, and what voters intended to approve. **I strongly recommend two things:

  1. Proposals have a mandatory condition to return surplus funds to the Treasury in AJNA
  2. Roll over surplus funds by discounting them from future grants and if it’s clear that stakeholders are not interested in continuing your scope of work, return those surplus AJNA tokens to the treasury.

In the case of a deficit the receiver may end up with less than their intended budget, and what voters intended to approve. I have no strong recommendation since two options could make sense. Grantees may:

  1. Refund the AJNA in full, opting to cancel their grant.
  2. Reshape the scope of work to fit the provided lower budget. Asking for a secondary grant in the next cycle to fund the complete scope of work.

Timing

To minimize price risk and come close to an accurate AJNA estimate, I strongly recommend grantees submit their grants within the last 7 days of the Screening Stage.

Voting on Grant Proposals

For @Delegates

Timing

To maximize the quality of decision-making, I strongly recommend voting as close to the end of the screening stage as possible. This allows all proposals to be submitted and available for consideration before you place your permanent and unmodifiable votes.

Other

@Delegates and @Proposers should consider setting up an ENS domain name to make it easier for all parties involved to know whether an address is legitimate.

Funding Stage Details

Will be added at a later date.

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