[Budget-002] 2022 Q1 - Spending Budget (2)

Title: Q1 2022 - Spending Budget 2
Author: @keeevin
Budget Proposal: Budget-002

Budget Summary

This proposal establishes the following budgets for 2022 Q1:

WG Spending Category Budget Description
Ecosystem Sponsorships $27,000 & 60 WRAP Co-sponsor W3F grant for Polkadot wrapper development

Budget Details

  • The DAO originally approved $22K co-sponsor spend here which expired in Feb 2022
  • This new proposal allocates $27K to the sponsorship budget for Mar 2022
    • This proposal requests $5K more to co-sponsor than the original
    • W3F’s grant to ChainSafe (who is leading the development) would be lowered from $55K to $50K.
    • $50K grants fall in the range of a Level 2 grant rather than a Level 3, which has faster approval processes

Links

Governance

  • Discussion Period: Mar 2 to Mar 4, 2022
  • Voting Period: Mar 7 to Mar 9, 2022
2 Likes

A few questions/comments:

  1. Can we please align this proposal with the new Level 3 Proposal Template (e.g. adding section for sponsor details, acceptance criteria, timeline, etc.)?
  2. Has the W3F grant already been approved? Does that grant depend on this one? What happens if one grant is approved but the other isn’t?
  3. Will the funds in the budget (both $ and WRAP) go to the individuals working on this or to the Chainsafe org?
  1. Can we please align this proposal with the new Level 3 Proposal Template (e.g. adding section for sponsor details, acceptance criteria, timeline, etc.)?

I meant that template to be for project proposals that Polywrap DAO wholly owns.

This is a grant from both Polywrap and Web3 Foundation to ChainSafe to build the Polkadot wrapper. The W3F team will be the one tracking progress.

You can see the grant proposal that ChainSafe is making to W3F here: https://hackmd.io/AFbztkJXSJCpvslF3iUruw

This has the project details, timeline, budget, and more.

  1. Has the W3F grant already been approved? Does that grant depend on this one? What happens if one grant is approved but the other isn’t?

The total cost for ChainSafe to build the Polkadot wrapper is $77,000 and 60 WRAP.

W3F’s portion is $50K while Polywrap’s portion would be $27K and 60 WRAP.

Both grants need to be approved in order for ChainSafe to begin work. W3F already has a soft approval and they’re just waiting on Polywrap DAO to approve its portion.

  1. Will the funds in the budget (both $ and WRAP) go to the individuals working on this or to the Chainsafe org?

Funds will be going to ChainSafe org.