2018-10-26 15:59 |
The Ethereum Foundation provides grants from its available Ethereum community resources to different projects. In a blog post on Wednesday, October 24, the Foundation explained the scope of the Ethereum Foundation’s grant process. It suggested that grants are given to projects that will likely have the highest impact on the Ethereum ecosystem in the long run.
The Scope of Ethereum GrantsThe Ethereum Foundation described the criteria for the grants. The project should be open source, and the funding should only be granted for future work. The Foundation suggests that it avoids being bias and tries not to give one team an advantage over others. The grants team also ensures they do not provide grants for projects at the application layer. However, it also suggests that it does not actively discourage teams working on application layers from applying if they are developing tools that benefit the wider ecosystem.
Ethereum says:
“We do believe that projects and teams working at the application layer should apply when they are building open source tools applicable to the wider ecosystem.”
Finally, it said that the Foundation avoids providing an EF “stamp of approval” to projects. Projects that get grants from the Ethereum Foundation are not meant to be endorsements over other projects.
How Are Applications EvaluatedThe Foundation looks for projects that will have the highest impact on the Ethereum ecosystem. It suggested four questions that must be answered while evaluating a project. 1) The importance of the project in the ecosystem, 2) the urgency of the problem, 3) the number of other people working on the same problem and 4) the value that the Foundation gets by sanctioning a grant instead of doing nothing.
The Foundation writes:
“We are favorably biased towards projects with reasonable paths towards sustainability. This helps ensure a long-term impact on the investment of community resources.”
Alignment with Ethereum’s values is also considered. Finally, Ethereum looks for applicants that have a proven ability and relevant experience to execute the projects with the grant amount. The Foundation also said that they are expecting to pay a discount on the market rate because they are offering non-dilutive capital.
Ethereum suggested that its decision-making process isn’t perfect, but the team is consistently working to improve the speed and quality of grants.
Ethereum Foundation Details How It Grants Community Resources to Programs was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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