GOALS & FORMAT OVERVIEW
Led by Jadu holders. Stewarded by Jadu.
Jadu constituents submit & vote on proposed grants, while Jadu ensures due diligence, accountability and distribution of treasury funds.
Ownership unlocks full commercial rights & voting power to award over a million dollars from the AVA Community Treasury. Distribution of the full treasury funds is set to conclude after two years. All funds are held in a wallet Jadu maintains.
Learn About AVAs →
SIX DESIGN GOALS GUIDE THE GRANT MODEL
Ensure treasury funds are spent on grants that are mutually beneficial to Jadu holders and the larger Jadu ecosystem, while empowering Jadu holders to determine grant recipients.
The grant funding process should be easy to understand, simple to engage with and ultimately strengthen Jadu’s collaboration with the community as a whole.
Voting methodology should create additional value for Jadu NFTs without creating imbalance between early adopters and new members.
The system should scale well so Jadu’s core team can continue supporting the growth of the grant program without undue operational overhead.
The structure should allow for Jadu’s core team & the community to iterate, expand and improve the system over time as best practices and key findings emerge.
The grant process should not be too difficult to understand and participate in.
These grants receive proposals, ballot options, votes and distribution on a regular monthly basis.
These grants receive proposals, ballot options, votes and distribution for a specific event (ex: NFT NYC or Art Basel).
We are looking for grant recipients who are excited to create, amplify and enable the larger Jadu ecosystem.
Build with your AVA IP & Files
Turn your AVA into a virtual streamer, musician or online personality.
Use your 3D files in artistic projects like Music Videos.
Launch physical or virtual products or services with your AVA.
Build with Jadu IP
Use Hoverboards, Jetpacks or AVAs in your projects.
Expand and develop Jadu lore.
Express Jadu lore and IP in your artistic projects from cinematics to physical items.
Build for the Community
Build drops, products or services for the Jadu community.
Host local and online events that grow and develop the community.
Build merch or physical items for Jadu holders.
Discuss new ideas with other community members.
Asking fellow community members for help, feedback & collaboration.
Drum up community support for a grant proposal.
Available to answer community questions & provide reference materials.
Submit proposal including details on what is being created, proposer’s capability to execute and reference materials.
Provide proposal submission infrastructure via Homebase.
Upvote or abstain from grant proposals to rank best small, medium, large and/or special grant proposals.
Request additional information as needed from proposals.
Review proposals for any missing or unclear information that would prevent Jetpack holder’s proper understanding of the proposal.
Reviews leading proposals; accepting as a ballot option, rejecting, or clarifying key details
KYC and milestone payment plan for large grants
(Optional) Jadu communicates reasons for leading proposal not making it to the ballot
AVA holders review and cast votes on each ballot entry. AVA voters have additional voting power if they have Hoverboards.
Each ballot entry includes the number of upvotes from the Jetpack Council as reference.
If the number of approved ballot entries surpasses the max funding limit per month, the most popular grants recieve funding while others can reapply
Confirm and communicate to the community proposals that will be on the ballot before it goes live for voting.
Create ballot from proposal finalists
Pause or remove ballot voting options if issues surface
Must have AVA to vote.1 vote per AVA held.
AVA voters who have Hoverboards, each HB adds 0.5 vote to the total weight.
Signature Hoverboards add a full vote when in a wallet with AVAs.
Approved grant proposal(s) receive funding
Distributes funding to grant recipient’s account/wallet
Point of contact for any questions or support needed for grant recipients
Provide transparency by distributing treasury report detailing awarded grants & intended impact
I thought this was a DAO, can you explain what
a grant is?
While similar in some ways, we’ve yet to see many DAO’s successfully work and wanted to try a different process with the community using grants. A grant transfers a requested amount of funds from the community treasury to a particular individual (grant recipient), with grant ballot options containing some further information on how the individual plans to use the funds. The grant recipient must still hold their Jadu NFT at the time of fund distribution.
Who owns the ACT treasury wallet where the
funds are held?
Jadu owns, maintains and distributes all funds from the ACT wallet.
Will there ever be changes, revisions or updates
to the ACT grant process?
Of course! As we begin awarding grants and having the community test the system we will continue to integrate learnings and community sentiment around the most valuable grant types to evaluate if changes are necessary to ensure fair, efficient and impactful grant distribution.
How long does it take to receive ACT funds if
my grant is awarded?
Typically it will take 5 days to be awarded funds, event-based grants may differ.
What are the submission requirements for each grant type?
For all grant awards above $500 (Small/Medium/Large/Event) we’ll need a few pieces of information due to governing law where Jadu operates.
Grant Awards for US Citizens: All community members who are awarded a grant are required to fill out a 1099 form. Prior to distribution of treasury funds we’ll need your full legal name, social security number, email and address. We promise to make it as painless as possible.
Grant Awards for those outside the US: Prior to distribution of treasury funds we’ll need your full name, address, photo identification, and a photo of you holding your ID or piece of paper with that day’s date, so we can confirm your identity against your ID.
Additionally, for any Large Grants ( $7,500-$15,000), Jadu asks that the grant proposal include a payment milestone plan. Rather than distributing one lump sum payment, this helps us keep the grant winner accountable with step by step progress. Last, but not least, we’d like the grant winner to have a video call with a Jadu team member prior to fund distribution – this is a lot of money, we like to ensure the grant winner has everything they need to succeed on their proposal.
Do I need to vote to be eligible for grant awards?
You do not need to vote to submit for a grant, but we highly encourage participation - your opinion steers the distribution of treasury funds, Jadu’s ecosystem growth, and you receive more voting power for your participation!
Who can submit a grant proposal?
Any Jadu NFT holder (Jetpack, Hoverboard, AVA) can submit a grant proposal.
What is the minimum period of each proposal for voting?
Each proposal period will last up to 14 days.
If my project is already live, am I allowed to submit it for grants?
You can submit a proposal to further improve your project.
Where can I check out the ACT terms of service?
You can read more about the ACT terms of service here.
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