Consensys is about to launch MetaMask Grants DAO to facilitate Web3 adoption

Following an earlier announcement from Consensys that it is exploring DAO-related topics such as funding, regulation, and tooling, in an event called “The Month of DAO”, it has become clear that the Consensys team is about to launch MetaMask Grants DAO. The organization will control the issuance of grants to external developers and companies, building within the MetaMask ecosystem.

The MetaMask Grants DAO will be led by MetaMask employees and will be solely responsible for issuing grants to developers, in an effort to help with Web3 adoption and growing the MetaMask ecosystem. Initially, the project will run for a year and during each of its quarters, Consensys will commit at least $600,000 in funding.

The upcoming DAO will be made up of three groups of participants. Eligible for participation in the first group will be more than 900 full-time Consensys employees, that will have the possibility to opt-in to be members of the organization and will hold equal voting rights. The second group of participants will function as a leadership committee made up of seven people. This group will be responsible for identifying projects with high potential, creating proposals for the DAO to vote on, and managing external content related to the organization. It will consist of the MetaMask co-founders, its global product lead, Snaps Studios lead (Snaps is a pre-release software provided by MetaMask Flask), a senior DAO strategist, and finally Consensys’ director of strategic initiatives as well as the company’s product management director.

The final group will control a secure multi-sig wallet and will be overseen by Consensys, it will be responsible for managing the treasury of the DAO and its token contract, by signing transactions, and minting or burning tokens as employees join or leave the organization.

The DAO will hold and track votes publicly through SnapShot on the Codefi Activate platform. The grants issued by the organization will be divided into two types – Leadership Committee Grants voted on solely by its members, and DAO Grants voted on by the entire DAO.