📚Glossary

This glossary provides definitions for key terms related to GrantPicks, helping you understand the platform's functionality and processes.

• GrantPicks: A platform that facilitates funding for innovative projects through community-driven voting and support.

• Funding Round: A specific period during which project owners can submit their proposals for funding, and community members can vote on which projects should receive financial support.

• Round Manager: A user responsible for creating, overseeing, and managing funding rounds, including reviewing project submissions and initiating payouts.

• Project Owner: An individual or team that submits a project proposal during a funding round seeking financial support from the community.

• Observer: A community member who monitors funding rounds and project submissions without participating in voting or funding decisions.

• Voter: A user who connects their wallet to the platform and participates in the voting process to select projects for funding.

• Pairwise Voting: A voting method where voters compare two projects at a time, selecting their preferred option. This process continues until all projects have been compared.

• Smart Contract: A self-executing contract with the terms of the agreement directly written into code, typically used on blockchain platforms to automate transactions.

• KYC (Know Your Customer): A compliance process that verifies the identity of users participating in the platform, ensuring transparency and security in funding.

• Vaulted Round: A special type of funding round where users can contribute funds directly to specific projects, enhancing their engagement and investment in initiatives they believe in.

• Challenge Period: A designated time frame during which users can contest the results of a funding round or raise concerns about specific projects.

• Payouts: The distribution of funds to successful projects after a funding round concludes, based on the outcomes of the voting process.

• Application Duration: The period during which project owners can submit their applications for a specific funding round.

• Voting Duration: The time frame in which community members can cast their votes on submitted projects during a funding round.

• Compliance Deadline: The date by which project owners must complete any required KYC checks or other compliance measures to be eligible for funding.

• Voting Mechanism: The method by which voters cast their preferences during funding rounds, including pairwise voting or other voting systems.

• Stakeholder: Any individual or group that has an interest in the outcome of a project, including project owners, voters, and community members.

• Proposal: A detailed plan submitted by project owners outlining their project’s goals, methods, and funding requirements.

• Funding Pool: The total amount of money available for distribution to projects during a specific funding round.

• Impact Assessment: The evaluation of the potential effects and outcomes of a project on its target community or environment.

• Transparency: The principle of making information accessible and clear to all stakeholders involved in the funding process, ensuring accountability.

• Community Engagement: The process of involving community members in discussions and decisions related to projects and funding rounds.