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• Steering Committee’s responsibilities include:

  • Define and publish Strategic Objectives, Focus Areas and/or specific Projects it is willing to fund.

  • Review, approve, and fund Worker Proposals that satisfy the Strategic Objectives and ensure every Worker Proposal has clearly define set of KPIs.

  • Meet at least monthly to review progress against KPIs of all funded Worker Proposals and to decide on continuation of funding.

  • Meet with Foundation Board at least quarterly to provide update on progress towards Strategic Objectives.

  • Set monthly budget for all Worker Proposals.

• Steering Committee’s responsibilities specifically do not include:

  • Managing individual projects, its objectives, activities, staffing, etc., other than via setting KPIs and budgets.

  • Individual Steering Committee members may also be involved in specific project being funded and if they are their vote will not be considered when deciding on their Worker Proposals.

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• Experience with managing budgets via Key Performance Indicators

• Experience with blockchain and Decentralized Autonomous Organizations

• Familiarity with the FIO Protocol

Budget

The Steering Committee sets monthly budget for all Worker Proposals and ensures each Worker Proposal Lead adheres to this budget. It may modify the monthly budget based on the value of treasury holdings, anticipated Foundation income, market conditions, and other factors. If a change of budget is required, the Steering Committee works with Worker Proposal Leads to adjust it in a least disruptive way. Ultimately Worker Proposal Leads are responsible for how to allocate the budget.

Worker Proposal

What it contains?

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