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DAO Grants Program - New Vesting Contract

EnactedGovernance

Proposal Details

Author0xd11a…1f49
PublishedDec 14, 2022 05:37
Voting beginsDec 14, 2022 05:37
Voting endsDec 28, 2022 05:37
Snapshot#c4a1bb5

Description

The DAO is currently using a _linear vesting_ contract to pay grantees. This proposal aims to replace the current second-by-second schedule with a regular 30-day payment scheme. The new vesting contract should also allow the DAO to preemptively pause the vesting contract, to later decide to resume it or revoke it.

Voting Power

03M6MRequired to pass12/1412/1712/2112/2412/27
YesNo

5 Comments

daoMar 07, 2023

DAO Grants Program - New Vesting Contract This proposal has been ENACTED by a DAO Committee Member (0xbfa6d24e6a061e9aea3447163fdfe045177dd40e)

daoDec 28, 2022

DAO Grants Program - New Vesting Contract This proposal is now in status: PASSED. Voting Results: * Yes 100% 11,004,376 VP (66 votes) * No 0% 0 VP (1 votes)

NachoDec 16, 2022

That is correct (@nando approved it)

mattimusDec 16, 2022

@Tudamoon the creation and funding of the vesting contract and the purchase of the stables will be distinct events. The committee can swap at any point before and even after the vesting contract is created. The contract needs to have enough funding to cover each period's claim amount, and I don't believe it necessarily requires a full funding from the start. For example, a 60k grant, vesting over 6 months, starting on Jan 15th, means on Feb 15 $10,000 should be available in the vesting contract balance. The next month, another $10k must be added to the contract balance before the 15th, and so on. The newer contract is more flexible in that it allows the setting of _vestedPerPeriod to set a specific amount for each period's payment. Whereas, the current contract requires the contract balance to be fully funded to be able to calculate the vested amount properly. The updated contract logic for this proposal can be found here https://github.com/decentraland/vestings-builder#periodic-token-vesting @Nacho @yemel did I understand this correctly? Please review my example added to the documentation: https://github.com/decentraland/vestings-builder/pull/75

TudamoonDec 14, 2022

Sorry I didn't think of this sooner, and maybe this has been answered already, but will you please share with me the information if it has. [quote="dao, post:1, topic:17102"] The vesting contract should be always initialized on the 1st day or the 15th day of the month, this will give some time of preparation to the grantee between the votation finishes and the work starts. [/quote] Will this cause issues with price fluctuation of MANA? Will people be able to speculated that sell-offs will occur near this time? Could this cause issues?