We’re incredibly excited to announce the second round of Algovera Grants! We had an amazing first round with eight projects receiving funding and some really innovative projects taking off - take a look at our blog post detailing the first round process, and our Notion page detailing previous grant winners.
We also recently wrapped up the Algovera x LYNX hackathon where our community members partnered with the amazing folks at LYNX to develop a BCI algorithm! Additionally, our first freelance project with nCight was completed resulting in a medical image recognition app build by community members! The Algovera Earn Track provides action items and information needed to get started earning in web3, so if you’re interested in future projects like this check out the video and get started today!
As with Round 1, our plan is to award $5000 USDC in grants to 5 separate projects within the community. It is important to note that Squads who previously received funding during Round 1 will need to demonstrate that all deliverables listed on their Round 1 proposal have been completed. This means existing Squad members who are looking to apply for funding in Round 2 need to have received the full amount of their Round 1 grant by confirming that previous deliverables have been met. If you’re a member of an existing Squad and need any help determining the status of your Round 1 deliverables, or just need help navigating the Round 2 application process, please reach out to the Core Team on Discord! One notable difference with Round 2 is that we are adjusting the voting mechanism which the community will use to vote on projects. We received feedback from several community members that they experienced issues both claiming POAPs and voting using POAP Vote.
Because of these difficulties we needed to adopt a different approach to ensure community members could engage in governance without technical problems holding them back. We plan on implementing a new voting system using on-chain assets which should mitigate the issues folks experienced using POAP Vote. As soon as testing is complete and we finalize plans for the new system we will release full details. In the meantime, please feel free to drop a message in the Discord if anyone has questions or concerns!
Interested Squads can still apply for Round 2 funding prior to the release of the new voting system, and we will work to retroactively award tokens based on community activity. To apply for Algovera Round 2 Grants, please follow the process outlined below.
Submission and Discussion Process
The first step is to write up a proposal for your idea (about one A4 page) following this template. As a rough guideline, the deliverables might be designed to be achievable in one month of part-time work. The proposal should be posted to the Algovera Discourse forum under the Proposals category before the proposal deadline (April 20th at 23:59 GMT). A period of 3 days will follow for community feedback and discussion. This should take place primarily in the comments sections of the project posts in the forum.
For more information on the first round of proposals and winners, check out our Round 1 follow up blog post!
We are so impressed and excited by the work Squads have done during Round 1 of our Grants program, and we can’t wait to see what our amazing community comes up with for Round 2! Here’s to building the future of Web3 and Decentralized AI!
The following are the provisional dates for Round 2 of Algovera Grants:
- 11th of April - 20th of April = Application Open & Claim Reputation NFTs (votes)
- 21st of April - 28th of April = Review & Feedback on Applications
- 29st of April - 02nd of May = Voting Period
- 03rd of May = Announce Winners