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Quick Grants

Quick Grants (formerly Sockets)

Overview

These are small seed or experimental grants to support builders and contributors who have ideas about how to drive impact towards the priorities of POKT Network. Innovation in POKT should as much as possible be permissionless.
They are open to anyone in our community who comes with measurable initiatives that we can keep them accountable to. These move the responsibility for contributors to write great proposals and being part-time politicians, to what actually matters - generating impact through work and execution. We have a term for this: Evidence > Confidence.
Quick grants are spun up quickly to support action and experimentation, and are spun down just as quickly when the grant is no longer generating ROI for the DAO (or has proved in the affirmative or negative whatever the experiment set out to define).

Request a Quick Grant

Join the POKT discourse forum and create a +new topic under the Build/Quick Grant category.
To open a grant it must support one of the 5 Ambitions of the latest DAO Era. It must also include:
  1. 1.
    How you will deliver impact:
    • Very clearly describe how this Quick Grant supports our 2024 ambitions.
    • Define what the expected impact is, for this quick grant to be measured against in your self-reporting.
  2. 2.
    Description of your planned work, and any previous work that may be relevant.
  3. 3.
    Requested value of grant: (note this is set/approved by PNF)
    • Trial: $500 for a short trial of something
    • Experiment/Initiative: $1-2K, paid and reviewed monthly for the life of the experiment
    • Immediate Impact: $2-4k, paid and reviewed monthly for the life of the experiment
  4. 4.
    Link to where work will be stored or reported (Notion, Github or even directly in this topic thread is fine)
  5. 5.
    POKT Wallet address for payments
  6. 6.
    ETH Wallet address for stables stream
You can find out more about Quick Grants and the broader GROW program here.

Quick Grants - Mechanism Details

  1. 1.
    Quick Grants need to deliver impact.
    • Very clearly describe how they support our 2024 ambitions.
    • Define up front what their impact is, and then self-report on the impact they are delivering.
      • For a good example of a Quick Grant, with reporting and community feedback, we like to refer to the POKTNews Socket.
  2. 2.
    Quick Grants need to be fully self-directed. As Quick Grants are experimental in nature, PNF & POKT contributors cannot pull their attention to every experiment in lieu of delivering on our BHAGs.
    • Quick Grants should be able to complete their work without Foundation assistance, or have discussed with people who their work is contingent on before requesting the Quick Grant.
    • Quick Grants need to be able to unblock themselves and still complete their commitments each month, or find ways to get the help they need without expecting PNF to provide it (although we will support where we can). This can be challenging, and being self-directed is not for everyone.
  3. 3.
    Quick Grants need regular reporting and regular reviews to be effective.
    • All Quick Grants approved before the 25th of the same month are expected to self-report by the last day of the month.
      • If they do not self report, the Quick Grant will be closed during the review cycle automatically.
    • PNF’s Head of Community will review all Quick Grants during the first full week of the month, every month, and leave an update in the forum as proof of review.
      • PNF supports the DAO by closing Quick Grants that are not delivering impact, and they may choose to adjust the value of a Quick Grant instead of closing it.
  4. 4.
    Your historical impact (aka reputation) affects payments structures.
    • If you’re new to the ecosystem (e.g. have no proof of previous impact), your first payment will be made after your first successful monthly Quick Grant review (currently approved by PNF’s Head of Community).
      • If you do not self report, your Quick Grant will be closed and no payment will be made.
      • If there is no impact, your Quick Grant may be closed and a one time payment may or may not be made.
        • This falls into subjective territory, but the goal is to prevent bad actors from taking advantage of the system, not to punish the experimental nature of these grants.
      • Upon first successful review, you’ll move to the same payment stream as other contributors; a payment stream from the DAO, paying daily until the Quick Grant is closed.
  5. 5.
    The value of a Quick Grant is evaluated + approved by the Foundation. We want to make sure that the value is in line with the expected impact, not just the highest amount available.
    • Quick Grant requestors should identify and suggest the value for their Quick Grant, but the Foundation will set and approve the value. The requestor can always negotiate or decline the Quick Grant.
  6. 6.
    Quick Grants will start on the 1st and 15th of the month, and will be paid in stables. We require a few days (~5ish) lead time to set up new grants.
We're looking at ways to better evaluate impact, so please stay tuned as we explore other tools for measuring, transparency and accountability.
Last modified 8d ago