NEAR Foundation to Improve Grants Process Through DAO, Stop Distributing Funds Directly from Inbound Startup Grants Program

The NEAR Foundation announced that it is refining its grant process, which will include a more decentralized capital allocation model through DAO grants, initially involving DeveloperDAO, MarketingDAO, CreativesDAO, and an additional DAO that will begin forming in Q1 2023. The NEAR Foundation will cease distributing funds directly from the Inbound Startup Grants Program, with the exception of current affairs grants, which will be handed over to MarketingDAO when they are set up to manage them. Additionally, expect 6-8 weeks to work with community members to outline a clear application process for applying for funding through the DAO.