Operational Procedures of the KCF Grant Program Pilot

[Closed] Klaytn Community Fund Grant Program Pilot
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Klaytn Community Fund (KCF) grant applicants should keep in mind the procedure defined below. The Operational Procedures of the KCF grant will be piloted until 31 October 2023, and then a GC vote will be taken to decide whether to continue it.

Proposal

  • A KCF grant proposal should include all the information below. Failure to include all the information below will result in the removal of the proposal without any notice. You can include any other information or materials for the understanding of KF, GC, and KC about your project and proposal.
    • Product name
    • Product description
    • Team information: team name; team description; name of your representative; portfolio (if available); websites; links to team’s social channels (Twitter, Telegram, Discord, Youtube, Medium, etc.)
      • Anonymous teams are not eligible for the grant
    • Grant proposal: project description, deliverables, expected impact for the Klaytn ecosystem, size of grant in KLAY; specific and measurable milestones; and timeline
      • The final milestone must be a measurable metric related to the Klaytn Mainnet, and 25% of the grant will be paid only if the final milestone is achieved.
    • Budget proposal (please fill out the attached sheet and include it in your proposal post Budget Template)
  • Along with the post on the governance forum, the proponent should fill out the application form provided by KF: https://docs.google.com/forms/d/e/1FAIpQLSc47CO6vAWnjM6r-3udRxJRXnHuD6v8j8Ug-8UE0ugEo5Gi1g/viewform

Review and Endorsement

  • A grant proposal should be discussed at least for 14 days in the Klaytn governance forum. If the proposal receives an endorsement from either KF or any GC member through a reply to the proposal thread, it shall proceed to a GC voting at the Klaytn Square. During the discussion, the proponent can revise the proposal based on the inputs from KC.
  • If the grant proposal fails to attain an endorsement from KF or a GC member, the proponent can drop the proposal or bring it to a community poll at the Klaytn Square snapshot space (Snapshot). If it receives more than 5 million KLAY in upvotes, and the number of upvotes exceeds downvotes, the proposal shall proceed to a GC voting at the Klaytn Square. A community poll shall be continued for 14 days.
  • A grant proposal that fails to receive an endorsement from KF, GC, or KC should not be proposed again within 28 days of being rejected . KF has the authority to determine if proposals are proposing the same offer as a rejected proposal.

GC Voting

  • Voting for the proposals takes place on the third Monday of each month. Only proposals that are endorsed by KF, GC members, or the KC before the third Monday are eligible to be voted on by GC on the third Monday.
  • Proposals that are rejected in a GC vote cannot be brought up within 84 days of the vote.

Procedure after GC Approval

  • After the approval of the grant proposal, the following steps should be taken by the grantee. Grant will be transferred after the grantee completes the required steps.
    • KYC/AML
    • Signing of a grant agreement with the Klaytn Foundation

Conditions of the Grant

  • The transfer transaction of grant from the KCF account to the grantee’s account will be open to the public through the Klaytn Square. The KF will label each transaction based on the project information.
  • If the grantees migrate their service or more than 50 percent of their assets on Klaytn to other blockchains within 5 years of receiving the KCF grant without an agreement of KF, the grantees shall return the entire grant to the KCF.
  • The grantees should regularly report the progress of the project and the expenditure of the budget to the KC through the governance forum.
  • The grantees shall prove that they are contributing to both the Klaytn ecosystem and KLAY tokenomics every 6 months by publishing their contributions on their social channels quantitatively and qualitatively. If they fail to do this, the grantees shall return the entire grant to KCF.
  • If the grantees fail to achieve the milestones within the timeframe agreed upon with KF, they shall return the entire grant to KCF.
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This is great! I love what klaytn is doing to support start ups. May projects with great potentials have folded as a result of lack of funding

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Update of the Operational Procedures of the KCF Grant Program Pilot

Based on the experience of the KCF grant proposal from the Kingdom Studios, where KF’s endorsement generated various FUDs, KF decided not to endorse any project during the pilot period. Instead, KF will review proposals and provide pros and cons on the proposals to support the assessment of the Klaytn Community and the GC Members on the proposals.

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@KaiaGovernance wondering how any proposals will ever get accepted now if you won’t endorse any projects? There looks to be only you and @Creder-Itcen active on this forum that are GC members and I don’t think @Creder-Itcen has endorsed any project yet?

Also the community vote after 14 days will be impossible for any proposal to pass, as there is simply not enough activity on the snapshot platform for the amount of Klaytn required to get a pass in the community vote. That is unless Klaytn make official announcements regarding community votes to drive the community to take part in those votes?

At this rate the current Pilot program will have no projects taking part in it, even though there is at least 2-3 good proposals that should get a chance to be in the GC vote.

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Hi @kevinblaese1991

  1. Even if Klaytn Foundation does not endorse projects, our GC members still can endorse project.
  2. I think @Creder-Itcen was not able to find any project well aligned with the situation of the Klaytn ecosystem as well as suggesting proper amount of budget.
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I have been lurking around for the last month and actually noticed something similar to @kevinblaese1991, there is only really one GC member active and its @Creder-Itcen and I believe he has only endorsed one project up to now.

The other GC members should be more active or at least you should be able to endorse projects as well.

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