To Grow the Decentralized Metaverse Alongside Our Community
In a decentralized metaverse, where everyone who owns the token is a co-owner, we want to give TLM grants both to fund projects but also to make more people (people who have evidenced an ability to grow the system technically or through community innovation) co-owners. It's funding and also a mechanism to incentivize and grow the metaverse through the co-ownership model that can only be powered by web3 applications. The vision is to provide agile, efficient, and resilient programs to meet the needs of the growing Alien Worlds community and its contributors.
The Path to Decentralization
We are running the Grant Program via judges and a Dacoco administrator as a way of learning how to effectively give grants in the metaverse, since in the past many blockchain projects have encountered issues in grant-giving in a totally decentralized way straight out of the gate. Understanding these challenges posed by decentralized governance and potential ways forward are primary objectives of this pilot. We will continually refine the processes and framework for improvement to identify potential points of failure associated with consensus, tracking activities, monitoring requirements, risk assessments, and payments.
Common problems associated with a decentralized grants management process
Lack of understanding of the entire process
Inadequate written procedures and oversight
Grant records are maintained poorly
Non-compliance with grant provisions
Non-compliance with GDPR, AML and CF regulations
In the future, we expect proposals to be governed by blockchain technology and to be integrated with the grant management system that grant makers and grant seekers use to manage day-to-day operations, with the goal of streamlining record-keeping processes and increasing community involvement.