Moloch is a community DAO providing grants funding to accelerate Ethereum development.
Members of the Ethereum community have pooled funds together to distribute grants effectively through a DAO structure.
Moloch members submit Moloch Grant Proposals to be voted on by other DAO members, to decide how grant distribution occurs. Members can:
- Create RFPs or draft proposals
- Discuss proposals on Moloch discourse for feedback
- Submit proposals for voting
Proposals can provide grants to ongoing projects, provide support for an RFP or fund an idea that was cultivated in the Moloch Wishlist.
Past Moloch Grant Proposals (MGPs) have focused on ETH2.0, layer 2 scalability and community initiatives; check out past proposals. Examples include:
$50K+ to ETH2.0 development and project management support by Matt Slipper and Antoine Toulme
$30K for Chainsafe’s Lodestar client, to prioritize light client research, in-browser tooling & ETH1.x migration plans
$20K to BlockX to build a web UI for Argent’s Hopper mixer to facilitate private transactions on Ethereum
$3K for the Application Alliance to host 2-3 community career fairs to promote development and usage of Ethereum
If you have a high-priority project in mind that needs an implementation team, create an RFP topic. Make sure that your topic has the proposal name in the title, for example: RFP: ETH2.0 Development.
Once you’ve received initial feedback on a project or finalized the RFP process, create a Moloch Grant Proposal.
Creating a Moloch Grant Proposal
1. Draft a proposal document
Create a document (eg. dropbox paper, google doc) with a proposal for a grant you’d like Moloch to fund. General proposal requirements are:
- Total shares requested/value of grant (guiding ratio 1 ETH : 1 share)
- Background, experience and/or qualifications of implementer
- Objectives with grant (what/why/how)
- Scope of Work
- Expected output and/or contributions
- Timeline or roadmap
Take a look at past Moloch Grant Proposals as reference. An example of a good proposal document was $20K for BlockX to build a web UI for Hopper Mixer.
2. Create a topic about your proposal
Post a topic with the title of your proposal, for example: MGP: $10K for ETH2.0 Development. Make sure to include a link to your proposal document in the post.
3. Solicit feedback on your proposal
Use your proposal post to gain feedback on your proposal from the Moloch community and engage with experts.
If Moloch members are interested in pushing your proposal forward, they can sponsor it. Proposals must be sponsored by a current member to be submitted for voting.
During the proposal process, sponsoring members may be high-touch to help structure the scope of work, teaming, share issuance etc. Proposals are voted on by DAO members at molochdao.com.
Submitting a Grant Proposal
To submit a proposal, the proposer (member submitting the proposal) must follow these steps:
- Go to http://molochdao.com/proposals
- Login to web3
- In web3 login, click wETH Center
- If you don’t have wETH, wrap it! You need 10 wETH.
- Enter amount of 10 wETH, Approve Moloch
- Wait for transaction confirmation
- On webpage click “New Proposal”
- Enter proposals details. To calculate Moloch shares use the [Moloch Shares Calculator] (https://docs.google.com/spreadsheets/d/1Kk_AWD3nLNODzTnfiXrIjkIHC6Tf0yyo9jJ9bmtqEPg/edit#gid=0). For Beneficiary/Applicant use a regular address (not a multi-sig address).
- Submit proposal and watch Moloch rise! (aka…members vote )
Note: to submit a Grant Proposal, only the proposer must approve 10 wETH, while to submit a membership proposal both the proposer and the applicant (potential new member) must approve 10 wETH before submitting the proposal. Read how to summon new members to learn more.
Voting on Proposals
After proposals are submitted, members have 7 days to vote, followed by a 7 day grace period. If members are unhappy with the results of a vote, they can ragequit within the grace period and withdraw their funds from the Guild Bank.
When a vote is passed successfully, applicants receive their requested voting shares. These shares allow applicants to become members and participate in Moloch governance.
Voting shares are redeemable 1:1 for wETH from the Guild Bank and equal the value of the grant. If implementers choose to withdraw all or a portion of shares (eg. get paid for their work) they must ragequit those shares from the DAO.