A portion of the treasury is earmarked for bounties which will be in a multi-sig wallet.
Bounties are determined by a committee that works closely with the ECC/Zcash Foundation on their roadmap.
The bounties are sent to an initial vote to gauge community interest based on @hanh’s work: Coin Voting / Shielded Airdrop / Proof of Balance.
Said committee (ZCG or whoever it is) promotes these bounties through their social accounts, and when they have garnered enough interested participants who have submitted proposals, they will be sent to a final community vote which will determine who receives the grant.
The grants are then unlocked (from the wallet) after an additional vote from the community that determines each milestone has been properly achieved.
ChatGPT version for @GGuy:
- Earmarked Treasury Funds for Bounties: A specific portion of the treasury funds is reserved for bounties. These funds are kept in a multi-signature (multi-sig) wallet, which requires more than one authorized person to approve transactions, ensuring security and collective decision-making.
- Bounty Determination Committee: A specially appointed committee is responsible for deciding on the bounties. This committee collaborates closely with the Electric Coin Company (ECC) and the Zcash Foundation to align the bounties with their strategic roadmap.
- Initial Bounty Voting Process: The process of selecting bounties for community consideration is inspired by @hanh’s work on methods like Coin Voting, Shielded Airdrop, and Proof of Balance. This initial vote is meant to measure the community’s interest in the proposed bounties.
- Promotion of Bounties: The committee in charge (for example, the Zcash Community Grants program or ZCG) uses their social media accounts to promote these bounties. They aim to attract a significant number of interested participants who will submit proposals for the bounties.
- Final Community Vote on Bounties: Once enough proposals have been submitted and there is sufficient interest, a final vote by the community takes place. This vote decides which proposals will receive the funding.
- Grant Milestone Verification and Unlocking Funds: After a proposal has been selected to receive a grant, the community conducts additional votes at each milestone of the project. These votes determine if the project is progressing as planned. If the community confirms that a milestone has been successfully achieved, the funds for that stage of the project are released from the multi-sig wallet.