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ConsenSys, leading Ethereum blockchain software company, set up MetaMask Grants DAO. It is an experimental, employee-led program that issues grants to external developers across the world and forms impactful experiences within the MetaMask ecosystem.
On October 27, 2022 ConsenSys excitedly shared about the launch in its tweet.
🎉🎉🎉
So excited and proud to announce the launch of MetaMask Grants DAO: an employee-led, ConsenSys-funded program that issues grants to developers building impactful experiences within the @MetaMask ecosystem. 🧵👇https://t.co/zNSZ8kGjuD
According to its official site, MetaMask Grants DAO is an employee-led DAO. It came with the mission to provide funding for high-value development projects in the MetaMask ecosystem with the help of a grants program. This looks to provide support to the developers across the community to be able to build on top of the MetaMask ecosystem.
It also empowers employees to adopt Web3 mechanisms and contribute as “One ConsenSys”.
ConsenSys mentioned this program as a grand experiment that previously demonstrated by initiatives like the Bankless DAOlationship, Merge Regenesis NFT drop, and VillageDAO.
According to its official site, the DAO is made-up of two main parts. The first one is the Employee-Led DAO that is a heart of the DAO made up of all ConsenSys employees. The second one is the Leadership Committee (mini-DAO) that is a head of the DAO made-up of seven individuals responsible for finding high-potential projects, making governance proposals, updating external content, and so on.
It uses a secure multisig wallet that will be owned by ConsenSys to manage the treasury, disbursement of funds, and minting of tokens.
Dan Finlay, Co-Founder of MetaMask said over Grants DAO that “Of course, MetaMask wanted to be a DAO when we first started but there were no wallets to build a DAO with yet.”
Excited to get some things funded weren’t getting what they needed otherwise! If you have a project in the decentralized web, consider applying! https://t.co/rVtaobRVYc
In the Twitter thread, Mr. Finlay further mentioned “Plenty of things can be obtained by charging a fee or adding a token, but many public goods are best when they don’t require any fee from users at all, but may have high leverage impact to give.” Thus, he is particularly eager to find and fund those.
He further added that having experience of more than six years he saw several infrastructural projects with consistent struggle.
As a wallet builder of >6 years, I’ve seen many infrastructural projects that consistently struggle, even in the face of wider grants programs (which we love). This is a tool for us to use our unique perspective to give back in ways that everyone else might not have thought to.
The Maximalist open-up and said if the program went well then along with his team he will continue to add the scope and breadth of this new DAO.
The Global Product Lead at MetaMask, Taylor Monahan, further noted the focus on decentralized development as she said in her recent interview that “Not only will this accelerate growth for crypto-comfortable users, but this will also boost adoption for crypto-curious individuals with more paths to participate in.”
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