Introducing Imbue Grants
Hey Everyone,
UPDATE: We decided to go down the big tipper track to keep things simple. See comment
Sam Elamin from Imbue. We have been very busy since receiving funding from the treasury and have shipped almost all our milestones
One thing we did notice over the past few months has been the tension around treasury spending. We think Imbue is set up perfectly to solve issues around accountability and funding and have built out the Imbue grants
We also did a live demo of it on AAG with our chain on Rococo
What we want to do next is do a demo of what this process looks like on Kusama.
The goal of the demo is to showcase refunds going back into the treasury
We will be launching a grant for 10 KSM with 2 milestones
- Milestone 1 for 1 KSM (10%). This will get approved
- Milestone 2 for 9 KSM. This will get refunded
We have 5 approvers lined up
- Giles, an engineer @ parity and part of the fellowship
- Daniel from Parity and part of the SBP
- Bryan: Polkadot fellow and co-founder of Acala
- Sam: Polkadot fellow and co-founder of Imbue Network
- Beatrice: Imbue core team member
A demo like this should ideally be going through the small/big tipper track but that is not currently possible because the treasury — currently - does not support XCM transfers,
We believe the treasury should support xcm transfers going through the different treasury tracks, this demo will be further evidence of that need
Because of this we will have to transfer the funds to the parachain soverign account then do a proposal on Imbue to allocate the funds to the grant escrow addres
We strongly believe this is the best way to ensure accountability and transparency while still remaining flexible enough to support different curators for different grants/projects
Kusama was meant for expermintation and to drive innovation, and this is a perfect example of this.
Imbue grants was built to solve a key community need, as such we would love your feedback on both this proposed demo as well as how we can best serve the community's requirements
Comments (4)
Very supportive of unlocking this option for funding.
Hi Everyone,
After internal discussions, we think going down the root track for this demo is not ideal.
The underlying issue is still that the treasury currently cannot send XCM calls
I — as part of the fellowship — have raised a pr (Pull Request) to allow this.
Additionally, the treasury will have a few important features coming that involve XCM that make this possible too. This PR is awaiting an audit
As an interim solution, we decided to split this demo into 2 parts
This is essentially what a reserve asset transfer does, we are just "mocking" the sending of the XCM message with the imbue proposal
While this is not an ideal demo, we believe it is the fastest way of demonstrating Imbue Grants without going through the root track which has been created to handle far more pressing matters
Ultimately what we want to showcase is milestone-based payments with refunds back to the treasury (via XCM) and this solution achieves that and hopefully shows the community an alternative means of funding teams from the treasury with an emphasis on accountability and transparency