Amp Community Grant Program Committee Proposal

The Amp Community Grant Program proposal was approved by nearly unanimous vote and will be funded with 1,000,000,000 AMP.

We are seeking community feedback on how to make the grant program both successful in growing the community and increasing the general understanding of the Amp token, capacity contracts, collateral managers, Flexa, and digital payments.

This framework for the Amp Community Grant Program includes details on the potential committee composition, proposal submission and approval process, as well as how funds will be issued.

Amp Community Grant Program Committee Proposal

Grant Proposal Committee

In order to efficiently allocate grant tokens, a committee will vote on proposals requesting less than 1,000,000 AMP. For larger proposals requesting more than 1,000,000 AMP, the requests will be passed via the standard Amp governance process.

The Grant Proposal Committee (‘the committee’) will consist of 7, 9, or 11 people who will vote on grant proposals. For a grant proposal to be approved, a simple majority must vote yes. Initially the committee will consist of long-term community members and at least one member from the Amp core team. Members can be replaced via community vote after an initial 1 year term by the first group of committee members. The first group of committee members will be long-term community members who have demonstrated their understanding of the Amp token and the Flexa network and shown their commitment to the expansion and betterment of the project.

Grant Proposal submission

There are two methods for submitting proposals: Respond to a Request for Proposal (RFP) put out by the committee, or workshop an idea with the community.

Examples of the types of proposals accepted include:

  • DeFi integrations such as lending platforms, DEXs, payments channels
  • Educational content, web dashboards, tutorials
  • Promotional activities and miscellaneous

For ideas that are submitted to the community for feedback, please consider answering the following questions:

  • How much Amp is requested?
  • How will the Amp be used?
  • How long will the proposal take to complete?
  • What are the benefits to the Amp community?
  • What experience is required to make this proposal a success?
  • What should be the criteria for determining that the initiative has been completed?

Grant Funding

Funding timing and the threshold for funding will be determined by the acceptance criteria set out in the grant proposal. In general, funding will be transferred after work has been completed.

10 Likes

Overall I think the program will work well as-is. I do have one suggestion and a question:

I think it would be wise to include an alternate for the committee. The alternate would fill in when there is a conflict between the permanent members. For example, if one of the current committee members decided to submit a proposal to the grant program.

What would a proposal look like for an ongoing project? For example: If someone proposed to translate all blog posts to multiple other languages, would it be acceptable to include periodic milestones for the release of partial grant funds?

3 Likes

Great idea. Will run this by a few people internally and come back with some ideas for this.

1 Like

Grant Proposal Committee (I like this initial proposal for the committee and their terms)

In order to efficiently allocate grant tokens, a committee will vote on proposals requesting less than 1,000,000 AMP. For larger proposals requesting more than 1,000,000 AMP, the requests will be passed via the standard Amp governance process.

The Grant Proposal Committee (‘the committee’) will consist of 7 people who will vote on grant proposals. For a grant proposal to be approved, 4 of 7 must vote yes. Initially the committee will consist of long-term community members and at least one member from the Amp core team. Members can be replaced via community vote after an initial 1 year term by the first group of committee members. [Add: Committee members will sign a gas-less smart contract agreement commit to voting on all proposals that request less than 1,000,000 AMP within a 72 hr timeframe of the proposal. Failure to do so will result in a notification to the community that the particular member did not cast their vote within the appropriate time so that after 1 year if the community wants to replace select committee members, it’s transparent why the member(s) were selected to replace.

Grant Proposal submission (I like this also)

There are two methods for submitting proposals: Respond to a Request for Proposal (RFP) put out by the committee, or workshop an idea with the community.

Examples of the types of proposals accepted include: (Straight forward)

  • DeFi integrations such as lending platforms, DEXs, payments channels
  • Educational content, web dashboards, tutorials
  • Promotional activities and miscellaneous

For ideas that are submitted to the community for feedback, please consider answering the following questions [Edit: For ideas that are submitted to the community for feedback, please consider answering the following questions as a template for all ideas to be considered by the grant committee]

  • How much Amp is requested?
  • How will the Amp be used?
  • How long will the proposal [Edit: idea, not proposal] take to complete?
  • What are the benefits to the Amp community?
  • What experience is required to make this proposal [Edit: idea, not proposal] a success?
  • What should be the [Edit: success criteria] for determining that the initiative has been completed?
  • What key metrics will be used to track the progress of the initiative?
  • Who will be collaborating in the initiative? (the entire community or select community members)

Grant Funding (I like this also)

Funding timing and the threshold for funding will be determined by the acceptance criteria set out in the grant proposal. In general, funding will be transferred after work has been completed.

2 Likes

I am fluent in Spanish and English. I would love to contribute in anyway I can within the AMP ecosystem. If I can translate any documents or possibly translate the white paper into Spanish that would be something I would enjoy doing. Is there a need for this and if so please reach out to me. Thank you.

3 Likes

I would love to sit on the first committee as a dedicated and committed investor and participant in the AMP/Flexa community.

4 Likes

Who is picking the members? Will there be any announcement of what members have been picked to serve in the committee? Effectively using the resources from the Grant Proposal should be a priority, such as advertising the current Flexa rewards promotion to make members outside this community aware of crypto spends.

4 Likes

Hey @Solrac these are great questions, and I’ll try to add my answer above, as well.

We’re going to pick majority long-term members for the first committee in order to battle test it for the grant proposal and approval process, then put the committee constituents up for a community vote for for the years after that. We are trying to balance the decentralization of community driven initiatives with the speed needed to expand a growing payments network. I hope this helps and sorry for taking so long to get back to you.