Band Protocol Grants Report #1

Band Protocol have launched our grants program since 6th June 2023, the detail of grants program is in the 12th proposal on BandChain

Band Protocol Grants Report #1
Band Grants Report #1

We have launched our grants program since 6th June 2023, the detail of grants program is in the 12th proposal on BandChain: Link.

Grants Program Summary

  • As part of our overall decentralization roadmap, this proposal aims to establish the official Band Protocol Grants Program for the Band community.
  • The purpose of this proposal is to secure funding from the community pool of Band Protocol in order to support the official Band Protocol Grants Program and advance the growth of the Band Protocol community
  • As of the date of submission, we are seeking approximately 20% (or 150k BAND) of the total funds available in the community pool, which currently stands at ~800,000 BAND. This pool, derived from 2% of block rewards and network fee, has remained untouched thus far.
  • The requested funds will be allocated to support contributors in the first wave of the grant program. The grant program operates on a four-wave per year basis, with a maximum funding limit of 150,000 BAND per wave. To reinforce the decentralization of the network, the proposed grant program will be governed by the existing Band token holders.
  • All BandChain Grants Proposals (BCGPs) will undergo a review process led by the grants team lead and will be reviewed by three supported reviewers using the BCGPs process
  • The grants program will commence once the proposal has been approved.

After a period of nine months, we have received 14 submissions through Band Forums. We made diligent efforts to assess all applications, and ultimately, we have approved and funded 3 of them, totaling 34,000 BAND. It's important to note that we adhered strictly to our criteria, setting a high standard, and chose projects that significantly contribute to the Band Ecosystem. We aim to maintain transparency throughout this process.

Below are the details of each project:

  • Category: Community
  • Funding amount : 6000 BAND
  • Applicant: Cryptomindlab

Cryptomind HACKATHON 2023 is a one-month event tailored for web3 developers, particularly those based in Thailand. This hackathon offers both online and physical sessions, hosted at Cryptomind’s Area Zero, aiming to promote web3 development and innovation among Thai developers. The event will provide participants with in-depth technical knowledge, insights into emerging web3 use cases, and applications of web3 across various business sectors.

At this hackathon, the Band Core Team organized a workshop with the goal of explaining Band Oracle technology to help hackers expand the range of their project ideas created during the event. This hackathon brings considerable value to the Band Ecosystem in different ways, including promoting local community growth and introducing a variety of Band use cases.

  • Category: Development
  • Funding amount: 3000 BAND
  • Applicant: Princess V

This grant focuses on frontend development for key Web3 platform pages – the Account and Validators sections. For the Account page (/account/:address), we aim to enhance and optimize its frontend using ReScript, creating new abstract components and exploring reuse opportunities in the src/components/reusable folder. Similarly, for Validators pages (/validators and /validator/:validator_address), we’ll refine and improve the frontend, adopting a modular approach, creating new abstract components, and identifying reuse opportunities in the src/components/reusable folder.

We have announced the guideline which contained 2 CosmoScan issues to contribute Band’s open-source project last September. It encouraged the developer contributing open-source project in Band’s repositories and make it as example for the contributors who are interested to join this program.

In September of last year, we introduced guidelines featuring two CosmoScan issues designed for contributing to Band's open-source project. These guidelines aimed to encourage developers to engage in open-source projects within Band's repositories, setting examples for potential contributors interested in joining the program.

The Band Core team reviewed the pull requests for these issues and provided feedback to the contributors. Once the tasks were completed, the pull requests were merged.

You can find more details about these issues here:

  • Category: Community
  • Funding Amount: 25,000 BAND per quarter, 100K BAND in Total
  • Applicant: Band Protocol Core Contributor Team, Band Protocol Marketing

This project will focus on revising the roles of BAND-Padawan, BAND-Jedi, and BAND-Jedi-Knight within the Band Jedi Ambassador Program. The proposal is also designed to bootstrap the program with incentives that reward significant contributions to the ecosystem.

Through the revision of the Band Protocol Jedi Ambassador Program, we aim to attract dedicated individuals passionate about promoting and raising awareness of Band Protocol. These exceptional individuals will serve as representatives of Band Protocol within their local communities and to the broader public. This revision will enable them to leverage their creativity and expertise, allowing the generation of original and impactful content that resonates with their unique skills and interests.

In summary, this revision aims to add more structure and detail to the program, nurturing and fostering the growth of our community. This initiative paves the way for enthusiasts to become key contributors to the thriving Band Protocol ecosystem.

Once more, we extend our gratitude to those who submitted grant proposals. Your effort and support are greatly appreciated. The growth of the Band Ecosystem relies on the community and contributors, and we welcome all ideas and developments. Every input matters to us. Let's BUIDL and grow together.

About Band Protocol

Band Protocol is a cross-chain data oracle platform with the aspiration to build high-quality suites of web3 development products. The flagship oracle solution aggregates and connects real-world data and APIs to smart contracts, enabling smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.

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