[Approved] Approval of Aurora Fast Grants Program

Update 04-29-2022: Aurora DAO Ltd. (BVI) returned 4,000,000 (four million) of AURORA to Aurora DAO


Proposal (Fast Grants)

  1. Approve Aurora DAO Fast Grants policy and annual budget of 5,000,000 (five million) AURORA for the one year period from the date of approval.

  2. Transfer Fast Grants budget to Aurora DAO Ltd. (BVI) wallet aurora-dao-bvi.sputnik-dao.near.

  3. Assign Aurora Labs Limited (Gibraltar) as technical provider of grants allocation and Optimum Finance Consulting LLC as a financial outsourcing team for transaction execution according to a process prescribed in the Fast Grants policy.

  4. Aurora DAO Ltd. (BVI) shall provide to the DAO report on the actual Fast Grants budget usage on a recurring basis. The report should be disclosed on https://forum.aurora.dao/

Fast Grants Policy

Aurora DAO (BVI) offers grants for open source software development and research on the AURORA blockchain platform. This policy is for entrepreneurs, developers, researchers, and advocates looking to contribute to the AURORA ecosystem. These Grants are for those who are looking to bootstrap their projects on AURORA, add funds to their DAO’s treasury, or conduct research on the social impacts of decentralization. The Aurora DAO welcomes all projects interested in building a more scalable, equitable, and creative future on AURORA. We provide grants that we believe will return the highest effect on AURORA ecosystem growth in the long term.

Aurora DAO provides several types of grants:

Fast Grants from the Aurora DAO budget below USD 10,000 and Grants up to USD 50.000*:

  • Open Source & Public Goods: projects and applications that contribute to the AURORA ecosystem and lead to overall network growth. For teams developing open source components, whether standalone or as part of a project. Grants can be up to a maximum of USD 50,000.
  • Education and community development: teams and service providers who share our mission to educate and develop the AURORA community: for devs of open-source educational components, whether standalone or part of a team; for educators and community members to create tutorials, videos, workshops, or write docs for builders and any other materials and news for social networks; a leaderboard with local, national and global meetup and training. Grants are up to USD 10,000.
  • Startups: for entrepreneurs looking to bootstrap a Dapp into the AURORA ecosystem in DeFi or NFT sphere and projects that make it easier for developers to build useful applications using the AURORA protocol. The amounts are equivalent up to USD 10,000.
  • Innovative projects: for teams that provide uniqueness on the AURORA platform and for cryptoworld in general. The amounts are up to USD 50,000.
  • Sustainability projects: the projects that contribute to and solve mankinds’ issues in Human, Social, Economic, and Environmental environments. Grants can be up to a maximum of USD 50,000.
  • Partnerships: for service providers of any direction that helps popularize AURORA, increase its usability and attract new customers into the ecosystem. Covering infrastructure partnerships of both economic and technological nature. Partnership grants can be up to a maximum of USD 50,000

*In certain cases, the amount of the grant could be increased up to USD 200,000, depending on the scale of the ecosystem enhancement.

Grants above USD 200.000 are considered for separate DAO approval.

The Fast Grants distribution process:

According to the Aurora DAO decision, the annual budget for Fast Grants is allocated (Grants up to USD 200,000). Aurora DAO, on a recurring basis (at least once a year), assigns a separate team (Grant’s Committee) that is responsible for all internal rounds of approval of Fast Grants. All applicants, at least, go through the following evaluation stages:

  • Initial Screen
  • Technical Review
  • Interview
  • Review & Decision

Stage 1: Determine for which type of the Grant you are applying

Not sure which type to apply for? Check with the grant’s team at partners@aurora.dev. If your project fits into one of these funding streams and aligns with the AURORA mission, you’re a candidate for the Aurora DAO Grants and VC Funding Program.

Stage 2: Submit your Application

Make sure you thoroughly complete the application form and clearly state how your project will contribute to the AURORA ecosystem. You can submit your Application at any time. We accept applications on a continuing basis.

Stage 3: Evaluation & Approval

The Grant’s Committee will review your application within two weeks. If your proposal meets the program criteria prescribed below (project eligibility), you will be invited to an interview with two committee members.

Stage 4: Acceptance or Denial Notification

All applicants will be notified whether their application has been accepted or denied. If your application is accepted, at this point, you will go through the agreement formation process. Aurora DAO does not have any obligations to explain its decision. The decision will be final and cannot be appealed.

Stage 5: Onboarding

Once all your paperwork is complete, your team will be onboard the Aurora Grants. We’ll align on clear timelines, accountability metrics, and reporting expectations. Finally, the Grant’s Committee will be in contact with you to support your project till completion.

Applicants can use Grant only for purposes of the Project.

Stage 6: Launch Your Project

Approximate Project Eligibility

Amount

  • Is the requested grant amount reasonable?

  • Are the project roadmap and team size reasonable?

  • What exactly is the grant requested for?

  • What is the estimation of developers’ working hours to achieve project goals and follow the roadmap?;

Team

  • Is the team experienced in Web3?

  • How many Web3 projects have they launched?;

  • Do they have live projects on other chains?;

  • How many years of experience do the team’s developers have?;

  • Have their projects had security audits?;

Project type

  • What value will it bring to the AURORA ecosystem and community?
  • DeFi: DEXs, bridges, oracles, derivatives, indexers, aggregators, AMM, stableswap, lending, stablecoins, bridges, automation (autofarm, yearn), liquid staking, liquidity-as-a-service;
  • NFTs: marketplace, art, music, collectibles, memes, sports moments, domain names;
  • Gaming: free-to-play; play-to-earn;

Project Token

  • What is the token economy?
  • What platform will be used for token launch/IDO?

Other:

  • Any other relevant criteria depending on the project.

Projects must be suitable and respect the AURORA ecosystem’s culture and values:

  1. Projects must not contain elements that are shocking, sensational, disrespectful, or violent, or depict arms or other weapons;

  2. Projects must not promote illegal products, services or activities, or content that is inappropriate or unsafe;

  3. Projects must not promote alcohol, tobacco, marijuana, or pharmaceutical medical products;

  4. Projects must not be of an adult or sexual nature – for example, nudity, depictions of characters/individuals in explicit suggestive positions, or activities that are sexually suggestive or provocative;

  5. Projects must not discriminate against, harass, provoke, or disparage people based on characteristics such as race, ethnicity, national origin, religious affiliation, caste, sexual orientation, gender identity, and serious disability or disease;

  6. Projects must not promote betting and/or online gambling.

  7. Project must not use Grant directly or indirectly for political purposes, including polling, lobbying, or advocating for legislative programs or changes; campaigning for, endorsing, contributing to, or otherwise supporting political candidates or parties; and voter registration or get-out-the-vote campaigns.

AURORA is a place where each member of the ecosystem can make a safe, respectful, and high-quality impact and share it with AURORA’s community. For this reason, we are waiting for the Applicant to have any licenses and permissions if they will be required for their Project.

Operational process for Grants up to USD 10,000:

Stage 1: After the relevant application is submitted, it is directed to the Grant’s Committee. Grant’s Committee assesses the project and makes a conclusion on its acceptance.

Stage 2: After the conclusion is made, the Resolution, with a clear description of the project and its potential effect on the AURORA ecosystem, is transferred to Finance and Legal teams for a short review.

Stage 3: Upon the completion of the review, the resolution is transferred for execution to an independent financial outsourcing team from the Fast Grants budget.

Stage 4: Once a quarter, a list of executed transfers with a description is submitted to the Board of Directors of the Aurora DAO. Board of Directors approves and issues Resolution on distributed Fast Grants.

Operational process for Grants between USD 10,000 and USD 50,000*:

Stage 1: After the relevant application is submitted, it is directed to the Grant’s Committee. Grant’s Committee assesses the project and makes a conclusion on its acceptance.

Stage 2: After the conclusion is made, the Resolution, with a clear description of the project and its potential effect on the AURORA ecosystem, is transferred to Finance and Legal teams for a short review. Legal team: 1. Assesses legitimacy 2. Control completeness of KYC/AML with 3rd party provider 3. Prepare Grant agreement 4. Provides approval. Finance team: 1. Review the budget: 2. Review the Grant agreement 3. Make legitimacy review 4. Provides approval.

Stage 3: Upon the completion of the review, the resolution is transferred for execution to an independent financial outsourcing team from the Fast Grants budget.

Stage 4: Once a quarter, a list of executed transfers with a description is submitted to the Board of Directors of Aurora DAO. The Board of Directors approves and issues Resolution on distributed Fast Grants, and the parties sign the Grant Agreement.

*for certain cases where amounts extended from USD 50,000 up to USD 200,000 the process is similar to Grants between USD 10,000 and USD 50,000.

Operational process for special grants (above USD 200,000):

Stage 1: After the relevant application is submitted, it is directed to the Grant’s Committee. Grant’s Committee assesses the project and makes an initial conclusion on its acceptance.

Stage 2: After the conclusion is made, the Resolution, with a clear description of the project and its potential effect on the AURORA ecosystem, is transferred to Finance and Legal teams for a short review. Legal team: 1. Assesses legitimacy 2. Control completeness of KYC/AML with 3rd party provider 3. Prepare Grant agreement 4. Provides approval. Finance team: 1. Review the budget: 2. Review the Grant agreement 3. Make legitimacy review 4. Provides approval.

Stage 3: Upon the completion of review by the Legal and Finance teams, the relevant proposal is submitted for DAO approval onchain.

Stage 4: As DAO voting is done and acceptance decision is made, the Board of Directors of Aurora DAO prepares a separate resolution, the parties sign a Grant Agreement and transfer it for execution to an independent financial outsourcing team.

Others

Changes. At our sole discretion, Aurora DAO reserves the right to change or modify portions of these Fast Grants Policy at any time. If we do this, we will post the changes on this page and indicate at the top of this page the date these terms were last revised. Any such changes will become effective no earlier than five (5) days after they are posted, except that changes made for legal reasons will be effective immediately.

Termination. Aurora DAO could terminate Grant Program immediately with any Applicants if the Applicant broke this Fast Grants Policy and/or Grant Agreement. Additionally, every further application could be denied by Aurora DAO if the Applicant broke the Fast Grants Policy and/or Grant Agreement before.

Intellectual properties. Using the open-source software of the AURORA blockchain platform, you should conduct with any additional terms and licenses specified on the page of software and AURORA blockchain platform.

Trademark. This Fast Grants Policy does not grant permission to use the trade names, trademarks, service marks, or product names without prior written permission of Aurora DAO.

Governing Law. All matters relating to this Fast Grant Policies and any dispute or claim arising therefrom or related thereto shall be governed by and construed in accordance with the laws of the British Virgin Islands.

22 Likes

This is a proposal to vote on a Grant Program that will support acceleration and growth of AURORA’s rapidly expanding ecosystem.

The mission of the Program is to create a supportive environment for the teams bringing high quality and community developing projects into the AURORA ecosystem. The Program is designed as a transparent, resilient and scalable tool that is able to provide capital to a greater number of high-quality projects and promising talents.

Main Objectives:

  • Provide funding to accelerate the growth of the AURORA and NEAR ecosystems and broader community;
  • Support the development of necessary and value add infrastructure / tooling to support continued innovation;
  • Attract and reward a diverse set of open source driven projects and developers that build on AURORA.

As it was stated by the Aurora DAO previously, 200M AURORA tokens are devoted to the community treasury. AURORA token holders should be able to decide on the distribution of these tokens to the initiatives and projects that are planning to launch on AURORA. Science funding mechanism from community treasury is too slow and more global in terms of project size and grants amounts - Fast Grants are an effort to improve this.

If you are entrepreneurs, developers, researchers, and advocates looking to contribute to the AURORA ecosystem by related project and in need of funding, Fast Grants is what you need. Fast Grants are in general up to USD 50k (with possibility to increase up to USD 200k in certain circumstances) and decisions are made in a week or even days. This will help without unnecessary bureaucracy to provide required funding to young, ambitious and promising projects to be deployed as fast as possible.

The teams that will prove their ability to commit with the community objectives and successfully implement their initial projects will be able to request from the community treasury additional funding in future.

19 Likes

good content

crystal clear instructions

we are submitting

Hi guys,

I applied for a Grants (not Fast grants) and it was declined,
but didnt receive a feedback if it was about $ or another issue etc.

How can I get this feedback?
Id like to improve the proposal and try again

1 Like

Nice structure but i too agree if the proposal is rejected kindly give the reason too why it’s rejected , so that next time it will improve .

How can we access grant application forms for fast grants

Hey @Deman, Here is the form For Aurora fast Grant Program…

Have a Great Day😇
Thanks!

1 Like

Thanks for the information

Anytime ser :pray:

2 Likes

Hi. Nice to meet you. Please, @Aliaksei, do u know if there is a general aurora model for the project?

Can you clarify what you mean by ‘a general aurora model for the project’

2 Likes

Yes, I meant something like this, @Aliaksei:

Funding Proposal for XXXX – submission date

Proposal team:

Target
wallet

KYC
wallet/profile

Total Requested Funding Amount:

Previous report

Relevance and justification

Projects
Description of and link to the projects

Timeline

Metrics expected to be achieved

Our metrics are settled base in our deliverables, they are:

Project 1
Products

Project 2
Products

Project 3
Products

Project 4
Products

Project 5
Products

Total of products created by the DAO monthly:
xxx

1 Like

Or should I use this request form: Funding Request Form

don’t waste your time on nonsense, there are no grants, no brains here