How it works

1. Proposal Submission

Community members propose projects they believe deserve funding by submitting detailed proposals that outline their impact and requirements. Submissions should present a well-developed idea, backed by a capable team ready to execute it effectively. Proposals should focus on projects and teams delivering ongoing services that support and enhance the Mina ecosystem.

A great proposal should have:

• Proposal Summary: Provide a concise description of the project, its goals, and its importance (2-3 sentences).
• Key Objectives: List the specific goals you aim to achieve.
• Problem Statement: What is the problem / Why does it matters.
• Proposed Solution: What will you do / How will it works.
• Expected Impact: Community benefits / KPI&quote;s.
• Budget Request: Total funding required / Costs breakdown.
• Milestones and Timeline: Key Milestones / Estimated completion date.
• Team Information: Team members and Relevant experience.
• Risks and Mitigation: Potential risks and mitigation plans.
• About the Submitter: Contact info and relevant links about previous projects.

Once a proposal draft is finalized, it can be submitted to an open funding round. The submitter is responsible for promoting their proposal within the Mina ecosystem to garner support and visibility.

2. Proposal Consideration

During this phase, all submitted proposals will undergo evaluation by two decision-making groups. To ensure a fair and thorough assessment, dedicated reviewer roles will be randomly assigned, focusing on identifying potential risks and benefits. However, if the community disagrees with a reviewer’s decision, they have the power to override it through an on-chain vote.

Reviewers: Responsible for evaluating proposals and determining whether they should be approved or rejected based on a comprehensive review.

Community Members: Empowered to advance proposals rejected by reviewers through an on-chain vote, ensuring community-driven decision-making.

Proposals rejected in this phase will be removed from the funding round.

3. Proposal Deliberation

During this phase, reviewers and community members will engage in open dialogue to evaluate each proposal, discussing its merits, potential risks, and benefits. This collaborative exchange ensures that diverse perspectives are thoroughly considered.

Reviewers will provide a recommendation for each proposal. To enhance clarity and organization, ChatGPT will be used to summarize and categorize the community deliberations, resulting in a comprehensive final report for each proposal.

4. Proposal Voting

During this phase, all community members are invited to vote for their preferred proposals. The voting will follow a ranked-choice system, allowing participants to support multiple proposals (up to 8) in order of preference with a single transaction.

5. Funds Allocation

In this final phase, funds will be automatically distributed to the top-ranked proposals based on the available budget. If the highest-ranked proposals exceed the available funds, they will be placed on hold until additional funding becomes available.