Our mission is to grow the decentralized metaverse with our community
Why Galactic Hubs exists?
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 perhaps more significantly to make more people (people who have evidenced an ability to grow the system technically or through community innovation) co-owners. It's funding but it's 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.
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.
Grant Program FAQ
How long are applications open?
Development tier: Apply anytime
Pioneer tier: Until 31 March, 2023
How do I submit a grant?
Register a new account and you will be asked to fill out the application. If you have an existing account, you can apply from inside the account page.
How long does it take to process a grant request?
Our team will review applications on a rolling basis. Applicants will be notified via email whether their submission has been accepted or not. If your application passes the initial review, will contact you if more information is required and then schedule a call with the team if necessary. We may return with further questions or suggestions at that point. We expect to receive many applications and will work as quickly as possible to process them.
Who can apply for grants?
Anyone can apply for a grant including individuals, independent teams, nonprofits, and companies.
What information is required in the grant application?
In order to submit a proposal, grantees will need to provide
the following project information:
Basic KYC information, proof of identification and residency. Grant Application: Discord/Telegram handle, referral (if applicable), grant amount, grant category, project description, current project status, team information, projects needs and challenges, why you are qualified to carry out the proposal, links to previous work, deliverables, KPIs and path to decentralization.
When are grants allocated?
Grants are executed after the completion of agreed deliverables and acceptance of the final evaluation.
Grants are executed in phases after completing the agreed milestones and their associated deliverables for each. A final grant allocation will occur after the gHubs judging committee has completed its evaluation and confirmed all the required deliverables are achieved.
What do you recommend applicant’s pay attention to?
- Potential to make a meaningful impact on behalf of the community
- The project is feasible and the capabilities of the team are demonstrated
- Clear and measurable objectives have been provided
- The proposed scope and deliverables are aligned with the application for grant
- The project is compelling and sustainable beyond the grant period
- Decentralization is a crucial aspect of blockchain technology and building an open metaverse. Therefore applicants should also provide clear steps on how decentralization will be implemented as part of their project roadmap—e.g. game - open-source
Can I submit more than one grant request?
Yes, but only one application per individual and/or team can be submitted at a time.