Abstract

This document describes the process that will be used to resolve the hung vote situation that came out of Tranche 2 signaling snapshot vote. It will outline the key concepts used, the process to resolve the hung vote and the detailed decision process that the Grants Committee followed to arrive at this process.

Primer

There are many terms and concepts used throughout this discussion that can be confusing to voters and clearly confusion about the mechanics of the process itself are at least part of why the community is frustrated. The intent of this section is to be crisp about the terminology so there is no confusion:

• Revised Grant Program: The process by which the overall ecosystem grant process is being governed; established via a community vote on Referendum 87. The Revised Grant program is an evolution from the earlier Interim Grant Proposal which first established the ecosystem grant program.
• Grant Committee: A panel of 5 community members, with 2 foundation members and 3 non-foundation members. It is the role of the committee to oversee the voting process but it is worth mentioning that the committee did not establish the ecosystem grant process itself - that was established via a community vote on the Revised Grant Program referendum. It is the role of the committee to oversee and execute the program to the best of its ability. The program does permit the committee to step in in extraordinary circumstances. The committee itself was established by the community by voting in the Revised Grant Program.
• Tranche 2: The second (and last) of the two ecosystem tranches specified under the Revised Grant Program which aims to allocate 4.5M GLMR to promote the overall Moonbeam ecosystem.
• Signal voting: A weighted vote on snapshot.org where users can vote with GLMR to signal how the ecosystem tranche should be awarded. This is NOT binding because it takes place on Ethereum and is used to establish sentiment: which teams does the community want to support and to what extent.
• Snapshot voting: see signal voting, these terms are interchangeable.
• First (1st) snapshot vote: The first snapshot vote that was held from July 21, 2023 03:00 pm UTC to July 28, 2023 03:00 pm UTC. This vote resulted in a “hung” vote because not enough teams reached the minimum threshold required (see below). In other words: the community vote was too split; and this required the committee to step in and determine next steps**.**
• Second (2nd) snapshot vote: A second snapshot vote that will be presented to the community to resolve the “hung” signal vote and which has not yet taken place.
• Referendum (pl. referenda): A on-chain proposal on Moonbeam to allocate the amount that was signaled during the snapshot vote to a given team.
• Voting power: The amount of GLMR that is used in a snapshot vote to signal which teams to support and to what extent. This is potentially as high as all of the circulating GLMR supply.
• Awarded GLMR: the portion of the 4.5M Tranche 2 budget that the signal vote is recommending be awarded to a team in the on-chain referendum.
• Voting threshold: A voting threshold that had to be achieved in the first signal vote in order to be eligible to go onto the on-chain referendum. For the first snapshot vote, this threshold was 22.93% of the vote, which is equal to 1,032,204 awarded GLMR (or 250K USD). This is not the same as the voting power that the community used to vote for the team in snapshot.org.

****We see a lot of confusion about this last point:

https://lh4.googleusercontent.com/m0HPUcNc4H5oYwKrX5-VfEoGfQ1a3AJjm-2AwPR3Mzm1_p9JMhLPi-CHD6vKktpFfvGxFDlAvtbJddnso-Ghvfjdj78GUw7RCf9lJNbMedlJW-d3wjHikZA7iuEewNUBVqA7buTwPZtacVyN4f3a4Yk

To use Moonwell as an example here - in this image, their proposal won 18.31% of the vote (which placed them below the threshold necessary to be eligible for the on-chain referendum). The 2.4 GLMR that’s visible here is the voting power that was used to get them that 18.31%. The awarded GLMR would have been 824,001.73 GLMR (or 18.31% of 4.5M) which placed them BELOW the necessary 1,032,204 GLMR they needed to be awarded to be eligible.

In other words - a lot of people are confusing voting power with awarded GLMR and only awarded GLMR determines whether a team is eligible or not.