Exploring Rounds

In GrantPicks, funding rounds are essential periods during which projects can seek community support through voting.

This section will guide you through the different aspects of funding rounds, including ongoing and upcoming opportunities, viewing results, and accessing detailed information about each round.

Overview of Funding Rounds

Funding rounds are specific timeframes where projects can submit their proposals for consideration. During these rounds, community members have the opportunity to vote on which projects they believe should receive funding. The outcome of these votes determines how available funds are allocated among the selected projects. Each round has defined criteria, timelines, and available funding amounts, allowing for a structured approach to project selection.

GrantPicks operates through a series of stages for each funding round. Here's a simple breakdown of what you can expect to see:

1. Round Creation

Creating a funding round is a crucial responsibility for Round Managers in GrantPicks. Here’s a step-by-step guide to the round creation process:

1. Enter Round Name: The Round Manager begins by entering a clear and descriptive name for the funding round, which helps identify its purpose.

2. Provide Round Description: Next, they fill in a detailed description that outlines the goals and criteria of the round. This information is vital for potential applicants and voters.

3. Define Voting Duration: The manager sets the start and end dates for when voting will be active. This timeline is essential for engaging voters effectively.

4. Specify Votes Per Person: The manager determines how many votes each eligible voter can cast by specifying the "Votes Per Person" parameter.

5. Include Contact Details: To facilitate communication, the manager must provide their contact information, allowing participants to reach out with any inquiries related to the round.

6. Set Funding Amounts:

   • Amount in Open Funding Pool: This indicates the total funds available for distribution during this round.

   • Expected Amount: This helps set expectations for both voters and project applicants regarding potential funding allocations.

2. Project Application Period

Projects looking for funding can submit their applications:

• A list of projects applying for the round

• Brief descriptions of each project

• The status of applications (pending, approved, or rejected)

3. Application Review

Round Managers and admins review the submitted applications. You might see:

• Changes in application statuses

• The final list of approved projects eligible for voting

4. Voting Period

This is when eligible voters can participate in the pairwise voting process. You'll observe:

• The start and end dates of the voting period

• A tally of how many votes have been cast (but not specific voting data)

• Which projects are part of the voting pool

5. Results Calculation

After voting ends, the platform calculates the results. You'll see:

• An indication that calculation is in progress

• The final results once they're published, showing how much funding each project will receive

6. Payout Phase

The final stage where approved projects receive their allocated funds. You'll be able to view:

• Which projects have received their funding

• The total amount distributed

• A completion status for the round

This process offers value to communities, project owners, and funders by giving them:

1. Transparency: All stages are visible, ensuring a fair and open process.

2. Real-time Updates: You can check the status of rounds at any time.

3. Historical Data: Past rounds and their outcomes remain accessible for review.