On Saturday Feb. 5, CrypToadz held a Town Hall to announce the establishment of the CrypToadz community grant pilot to build out the project's future utility.
CrypToadz Town Hall Key Takeaways:
CrypToadz is establishing a community grant pilot to build out the CrypToadz future.
This will be a pilot to start to get any kinks worked out but plans are to run the grant program in perpetuity.
Some of the potential proposals from the community could include:
- 3D Toadz
- Standalone CrypToadz Marketplace.
The CrypToadz team wants to do more town halls as information comes up that needs to be communicated. These could be monthly or quarterly as needed.
What Is the CrypToadz Community Grant Proposal?
The CrypToadz Community Grant Proposal will allow every single CrypToadz holder to be able to vote on proposals brought forward by fellow community members. So this means that all proposals are developed and decided upon which ones should be funded by the CrypToadz community.
- There is 40 ETH set aside to be used solely towards community grant proposals.
- The CrypToadz team has done a lot of research into how other grant programs have been done. To ensure that the grant recipients use the funds. towards their project proposals, there will be milestone based funding.
- The milestone based funding will break out the funding into smaller increments the CrypToadz can validate before giving more funding.
- The team plans on doing the community grants in perpetuity using portion of secondary sales to fund more grants.
- Community grants channel in the CrypToadz Discord to bring forth and discuss ideas.
Community grant proposals can be submitted on a thread in the CrypToadz forums in the grants category.
How Does CrypToadz Community Grant Voting Work?
The community will be able to vote on the proposals submitted right on the CrypToadz website.
Those that submitted a proposal will be able to submit their proposal for a vote in the snapshot proposal voting area after it has been up on the forums for a week to give time for review and discussion. CrypToadz holders will then be able to vote on the proposal in the snapshot proposal voting area.
If a community grant proposal has a successful vote, they can ping discord mods to get the proposal set up with first payment for the project.
Doug Boneparth Joins the CrypToadz Town Hall
- Doug is the President of Bone Fide Wealth, a CNBC Advisor Council and Author of Millennial Money Fix.
- Spoke about how the grant program incentivizes members to bring value.
- Doug wants to create CrypToadz coffee called “sludge” for CrypToadz holders.
- Wants to see a revenue generator project created from the community where portion of funds going back to the treasury.