- Transparency in fund usage: Tracking how funds are used after approval can be challenging.
Potential Improvements:
Structured Proposal Template:
- Require a standardized format including clear objectives, milestones, budget breakdown, and expected outcomes.
- Include a section for risk assessment and mitigation strategies.
Tiered Funding System:
- Implement different funding tiers (e.g., small, medium, large) with varying levels of scrutiny and voting requirements.
- Larger proposals could require a higher approval threshold.
Milestone-Based Funding Release:
- Release funds in stages based on the achievement of predefined milestones.
- Require progress reports before releasing subsequent tranches of funding.
Mandatory Impact Assessments:
- Require proposers to submit impact reports at set intervals after receiving funding.
- Create a community-driven rating system for completed projects.