EGF Grants Program
All proposals are to be voted on-chain. Prior to on-chain voting, it is paramount that the proposer follows the following set of guidelines to ensure a greater chance that their proposal will be passed.
These guidelines are written in order to:
- 1.Propose best practices for drafting a proposal
- 2.Address the issue of reaching quorum for the reasons stated below:
- 1.public validators not controlling enough FX currently, and
- 2.Internal and institutional validators are not voting to maintain neutrality
- 3.Allow for the FunctionX team to indirectly exercise their voting power (uniquely from a delegator’s standpoint, and not from a validator’s standpoint) with full knowledge that the proposal was reviewed preliminarily by skilled individuals
In that perspective, each proposal shall lead to:
- 1.The designation of 3 team developers, for each proposal that reaches out to the committee: The internal developers are chosen based on their skillset; hence, a market-making proposal will be judged by traders/trading system engineers, while a say - NFT proposal will be judged by a smart contract developer.
- 2.The assignment: Team will designate voting power to each committee member such that each committee member will control each one of the team's top 3 validators.
- 3.Each committee member acts independently.
- 1.Formal proposals should have the breakdown of all milestones and requested funds for each milestone.
- 2.Only funds for each milestone can be requested at any given time.
- 1.For eg. if your project has the following specs: Milestone 1 ($3,000) & Milestone 2 ($4,000).
- 2.The submission of your EGF proposal (on-chain) should only request for $3,000.
- 3.Once you have completed Milestone 1, then you may submit another EGF proposal (on-chain) for $4,000.
Before setting up any proposal on-chain, it is strongly recommended to any proposer to proceed the following way:
- 1.Contact the team with an inquiry form
- 1.The proposer must contact the Function X team by correctly filling in the inquiry-application-template which is points 1-5 (inclusive) of the EGF proposal form
- 3.Name the new file after your project:
- 4.Fill out the template with the details of your project. The more information you provide, the faster the review.
- 5.Once you're done, create a pull request. The pull request should only contain one new file—the Markdown file you created from the template.
- 2.The more information provided, the better guidance the team will be able to provide to the proposer.
- 2.Identify support opportunities
- 1.Identify ways to help, beyond monetary support e.g. coding, interfaces, source code, etc.
- 2.Request more information in the Inquiry Form
- 3.Formal proposal
- 1.If identified as requiring financial support
- 4.Name the new file after your project:
- 1.Provide feedback
- 2.May request for more information
- 5.Technical interviews
- 6.Funding decision
- 1.We’ll write up a contract and do KYC before disbursing funds
- 1.Blockchain Network layer
- 1.Tooling – Improving the developer experience
- 2.On-chain Apps
- 1.Loaning and borrowing
- 2.Automated Market Makers (AMM)
- 3.Decentralised Exchanges (DEX)
- 2.NFT marketplace
- 3.Off-chain apps
- 1.Data Analysis
- 1.Data visualization tools
- 2.Report generation
- 3.General apps (Web, Android, IOS…)
- 1.Market making bot
- 2.Trading systems