Establish an Amp Community Grant Program

This proposal will establish the Amp Community Grant Program. The Grant Program will fund crypto community engagement efforts including, but not limited to: DeFi integrations, educational content, tutorials, AMAs, and sponsorships. In addition, the program can help support teams looking to build products that incorporate Amp. Initial funding of 1,000,000,000 AMP will be secured from the Flexa Network Development Fund into a multi-sig wallet.

If this proposal successfully passes, subsequent funding proposals supported by the community can be submitted through the forum for voting.

Vote choices:
Yes, Establish a grant fund
No, do not establish a grant fund

43 Likes

Who will be running the Community Fund? Will The Grant Program also apply governance controls as well?

10 Likes

For those new to the process, proposals must be discussed for 48 hours before voting. The vote will thus take place in a couple days.

I plan to vote Yes on this proposal. At the time of writing, 1 billion Amp is worth roughly $46 million dollars. This will go a long way in developing beneficial content for both the community, and the wider world beyond those entrenched in Decentralized Finance.

Some more information that would be beneficial @Zach @trev : What is the current status of the Flexa development fund? How much Amp is left and what are the current planned allocation of this fund?

24 Likes

I think this is a good idea and I intend to Vote yes. Great opportunity to spread some info.

4 Likes

Is there a specific timeline this program would run for? Meaning, is there a schedule for allocating the 1 billion AMP to community engagement efforts (xxx amount per year) or is at done on an as-needed basis?

4 Likes

At the time of writing this is equal to $46M USD. How will the funds be vested and who will be initially serving in the committee?

5 Likes

This is a good idea and I believe a positive step forward for AMP.

2 Likes

Yes , Establish a grant fund.

1 Like

I intend to vote yes, seems like a no brainer to me. There is so much potential and engagement can only help move AMP forward.

I intend to vote yes. There are already great questions being asked that I hope to see responses for too.

I intend to vote yes. This is a great idea!

Great question - the intention is for this to be as needed. My perspective is that if we choose a set amount per year, it might be more likely that we end up wasting funds just to meet an arbitrary goal rather than allocating strategically as good opportunities present themselves.

12 Likes

My understanding is that current staking rewards are being substantially paid in 2021 from the Network Development Fund and that would continue through years end. Would this proposal be an allocation of all available 2022 Network Dev Fund tokens (1B?), thus eliminating any potential that staking rewards could continue to be supplemented from this pool?

3 Likes

I would be more willing to vote yes if I could see the impact of the community grant. For example, I would want to see the network transaction fees collected by the network on a standardized basis (days/weeks) so that I could determine the good the grant is doing and confirm the network is growing.

2 Likes

I find it so divine that when I have to stop doing my daily analysis, AMP introduces governance. What are the odds!

I definitely plan to vote yes, with an emphasis on education tutorials. We live in this small AMP world because we understand it, the rest of the world doesn’t. That’s a huge problem for growth and adoption. Yeah we’re still early and others don’t know why we are holding, so let’s educate them and bring them into the AMP world.

15 Likes

I cant wait to vote yes for this. Great idea !

Hey @Moosetoy - this would not impact staking rewards.

5 Likes

Ultimately all rewards will come from fees collected based on transactions. But right now, the rewards are being supplemented from the Network Development Fund to reward early stakers and help kickstart the Network. Tyler had mentioned in an interview (at the same time that he alluded to creating this type of governance forum) that those supplements may continue beyond 2021.

So in my mind, let’s say the NDF has 1B available AMP in 2022 that can be released per the supply schedule. Perhaps there are 2 options, allocate in the manner proposed here (which I support) or continue to distribute as supplemental network rewards beyond what will come from the transaction volume/open market purchase process. I’m sure the team has this all figured out, I’d just hate to see the staking APY crash on 1/1/22 because we’ve prematurely discontinue the supplement.

1 Like