The Tangle Community Treasury, a grant program that supports the IOTA and Shimmer network ecosystems, is back in operation after a period of inactivity. This news comes from a recent announcement by the Tangle DAO LLC, the organization overseeing the treasury.
Community Elects New Committee
The announcement revealed the newly elected committee members who will guide the treasury’s operations for the 2024/25 term. Linus Naumann serves as the Program Lead, overseeing both the IOTA and Shimmer treasuries. Separate committees manage each treasury, with some overlap in membership.
The selection process involved on-chain voting by the IOTA and Shimmer communities, demonstrating the project’s commitment to decentralized governance.
Focus on Defining Grant Strategy
The new committee has prioritized defining a clear grant funding strategy for the upcoming year. This strategy will outline the types of proposals likely to receive funding, how the treasury will manage dormant funds, and potential investment strategies. The team emphasizes a focus on maximizing the value obtained from each grant dollar spent.
Transparency in Treasury Funds
To inform public discussion about the funding strategy, the announcement provided a simplified overview of the IOTA and Shimmer treasury balances. It’s important to note that these figures are subject to change due to cryptocurrency price volatility.
Looking Ahead: Grant Distribution and Community Engagement
The treasury team aims to resume grant distribution as soon as possible. This involves finalizing the internal setup of separate treasuries for IOTA and Shimmer and establishing necessary processes.
The announcement encourages the community to stay updated through the Tangle Community Treasury’s official social media channels, including Discord, Medium, and Twitter.
Resuming Activity Boosts IOTA and Shimmer Ecosystems
The restart of the Tangle Community Treasury is a positive development for the IOTA and Shimmer ecosystems. By providing grants to promising projects and initiatives, the treasury can fuel innovation and growth within the IOTA and Shimmer networks.
The community-driven approach to governance and the focus on maximizing the impact of grant funding demonstrate a commitment to building a sustainable and thriving ecosystem.
