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Implement flexible DOT payments #2341

Merged
merged 3 commits into from
Jul 12, 2024
Merged

Implement flexible DOT payments #2341

merged 3 commits into from
Jul 12, 2024

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semuelle
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@github-actions github-actions bot added the update docs PR to update the documentation of the grants program. Not a grant application. label Jul 11, 2024
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@semuelle thanks & good job. I just fixed 1 typo and added some questions regarding the FIAT part.

docs/Support Docs/T&Cs.md Show resolved Hide resolved
docs/faq.md Outdated

Every milestone payment will have two parts: 70% in the currency of your choice (see the application template for options) and the remaining 30% in DOT, vesting linearly over two years. For this, we need a Polkadot address in the grant agreement. It has to be a native Polkadot address as this is the only way to receive vested DOT that can be staked. This wouldn't be possible with DOT paid on AssetHub. For the milestone payment, please submit two invoices: one for the currency part, one for the DOT part. Since the grant agreements are denominated in USD, we ask for invoices denominated in USD; we will convert the 30% to DOT at the day of payment based on the previous day's closing price on [CoinMarketCap](https://coinmarketcap.com). Our [invoice form](https://docs.google.com/forms/d/18BdmYEt8gvcC-5f7TMHdJftBr9dEeA2_lUfIqkH7it8/viewform) will walk you through the process.
Every milestone payment will have two parts: one in DOT, vesting linearly over two years. The percentage of your grant paid in DOT ranges from 50 to 100% and will be negotiated during the application phase. For this, we need a Polkadot address in the grant agreement. It has to be a native Polkadot address as this is the only way to receive vested DOT that can be staked. The remaining percentage of the payment is in the currency of your choice (see the application template for options). For the payment, please submit two invoices: one for the currency part (if applicable), one for the DOT part. Since the grant agreements are denominated in USD, we ask for invoices denominated in USD; we will convert the agreed upon percentage to DOT at the day of payment based on the previous day's closing price on [CoinMarketCap](https://coinmarketcap.com). Our [invoice form](https://docs.google.com/forms/d/18BdmYEt8gvcC-5f7TMHdJftBr9dEeA2_lUfIqkH7it8/viewform) will walk you through the process.
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The remaining percentage of the payment is in the currency of your choice (see the application template for options).

Four points:

  1. I suggest to say "FIAT" or "FIAT currency" to make it clear
  2. We would also support stables here, right? That's currently not clear
  3. What are you referring on the application template?
  4. Do we really support any fiat currency "of your choice"? We might get some exotic requests, if we do that.

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I have made it a bit clearer, but the text specifically mentions "see the application template for options". There, it lists USDC, USDT and fiat. Hence the somewhat vague term "currency".

@github-actions github-actions bot added the admin-review This application requires a review from an admin. label Jul 11, 2024
@semuelle semuelle removed the admin-review This application requires a review from an admin. label Jul 12, 2024
@semuelle semuelle merged commit ddb44a4 into master Jul 12, 2024
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@semuelle semuelle deleted the upDOT branch July 12, 2024 11:05
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3 participants