This is the Perpetual Fund part of the discussion in t/1105, as a draft for feedback. It’s posted now so that it can be discussed alongside AIP-21, and both can go to a vote together once they’re ready.
本帖是 t/1105 讨论中关于永续基金的部分，作为草案征求意见。现在发出来，是为了和 AIP-21 一起讨论，等两份都准备好后一同投票。
1. Summary
AIP-20 staked 59.65 ETH and kept the rewards in the Perpetual Fund until holders chose a mission. Holders chose peace. This proposal sets how the rewards are spent: grants to work that fits the mission, decided by holders in one vote each quarter, and paid in $JUSTICE. The principal is never spent.
2. Motivation
The rewards are small for now, about 1.3 ETH a year at the current rate (0.056 ETH in the first 15 days). They will grow as more of the treasury is put to work. A separate Snapshot vote for each grant would mean a quorum to reach every time for amounts this size. One vote per quarter, covering every application at once, keeps the decision with holders without wearing them out.
Paying grants in $JUSTICE means every grant is also a purchase of $JUSTICE, and every recipient becomes a holder with a voice in the DAO that supported them.
3. Proposal details
Budget
- The principal is the 59.649856 stETH staked under AIP-20. It is never spent.
- Each round’s budget is the rewards earned above the principal, minus what earlier rounds have already paid out. Anything unspent carries over to the next round.
- If a later AIP stakes more of the treasury, or directs other income such as liquidity-position fees to the Perpetual Fund, those returns join this budget under the same rules.
Who can apply
- Anyone, for work that passes the mission test in AIP-21.
- No grants to political parties, campaigns, candidates, or governments.
- Signers, Consensus Unit members and their close associates may apply, but must say so in the application, and a signer does not sign a payment to themselves.
Quarterly rounds
- Applications are posted on the forum. Each says who will receive the grant, what it is for, the amount in ETH, the receiving Ethereum address, and how the work will be reported.
- Applications close 7 days before the vote, leaving at least 7 days of discussion.
- All of a round’s applications go into one Snapshot vote with approval voting, plus a “None of these” option. Holders tick every application they support.
- An application is funded only if it receives more support than “None of these”. Funded applications are paid in order of support until the budget is used up.
- No single grant may take more than half of a round’s budget.
- Votes are held in the first week of March, June, September and December. The first round’s vote is in the first week of December 2026, with applications open from when this proposal passes until 30 November.
Urgent requests
For something that has just happened and needs help now, a request can go to a vote of its own without waiting for the next round, if:
- the event happened within the last 30 days, and
- waiting for the next round would make the help much less useful, and
- it passes the mission test.
It is marked [Urgent] on the forum, discussed for at least 48 hours, then put to a For/Against vote. An urgent grant can be at most half of the budget available at that time, and what it uses comes out of the next round’s budget.
Payment
- Grants are approved in ETH. After the vote, the signers sell the matching amount of wstETH for $JUSTICE through CoW Protocol, in equal parts over at least 3 days, with a price cap of 115% of the 7-day volume-weighted average price, as in AIP-20.
- Each recipient receives $JUSTICE in proportion to their approved ETH amount, at the average price of the purchase.
- As AIP-15 requires, execution starts within 72 hours of the vote closing. Every transaction is posted on the forum before it is signed.
Reporting
- Recipients report on the forum within 90 days of payment: what was done and how the grant was used.
- A recipient who doesn’t report can’t apply in later rounds.
This proposal can be amended by a later AIP.
4. Voting options
- For
- Against
- Abstain
(Approval voting is set for the whole space, so please tick only one option.)
5. Implementation
Once both drafts have had feedback, it goes to Snapshot together with AIP-21: one-day delay, two-day vote. $JUSTICE-weighted.
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中文
1. 摘要
AIP-20 质押了 59.65 ETH，并规定在持币人选定使命之前，质押收益留在永续基金中。持币人已经选定了和平。本提案规定这些收益如何使用：资助符合使命的工作，由持币人每季度集中投票决定，以 $JUSTICE 发放。本金永不动用。
2. 动机
目前收益规模不大，按现在的收益率每年约 1.3 ETH（头 15 天为 0.056 ETH）。随着国库更多资金投入使用，收益会逐步增加。如果每一笔资助都单独上 Snapshot，每次都要为这样的小额凑够法定人数。每季度一次投票、一次覆盖所有申请，既让持币人做决定，又不会让大家疲于投票。
以 $JUSTICE 发放，意味着每一笔资助同时也是一次 $JUSTICE 买入，每一位受助者也都成为持币人，在资助自己的 DAO 里拥有发言权。
3. 提案详情
预算
- 本金是依 AIP-20 质押的 59.649856 stETH，永不动用。
- 每一轮的预算，是本金之上产生的收益，减去之前各轮已经发放的金额。未用完的部分自动转入下一轮。
- 如果之后的 AIP 质押更多国库资金，或将流动性仓位手续费等其他收入划入永续基金，这些收益同样计入此预算，适用相同规则。
谁可以申请
- 任何人都可以申请，只要所做的工作通过 AIP-21 的使命检验。
- 不资助政党、竞选活动、候选人或政府。
- 签名人、共识单元成员及其关系密切的人可以申请，但必须在申请中说明；签名人不签署付给自己的款项。
季度轮次
- 申请发在论坛上，写明：谁接收资助、用途、以 ETH 计的金额、接收款项的以太坊地址，以及如何报告。
- 申请在投票前 7 天截止，保证至少 7 天的讨论时间。
- 一轮的所有申请放进同一个 Snapshot 认可投票，另设"以上都不资助"选项。持币人勾选所有自己支持的申请。
- 只有得票超过"以上都不资助"的申请才会获得资助。获得资助的申请按得票从高到低发放，直到预算用完。
- 单笔资助不得超过当轮预算的一半。
- 投票在每年 3 月、6 月、9 月、12 月的第一周进行。第一轮投票在 2026 年 12 月第一周，申请从本提案通过时开放，至 11 月 30 日截止。
紧急申请
对于刚刚发生、急需介入的事件，可以不等下一轮，单独投票，条件是：
- 事件发生在过去 30 天内；
- 等到下一轮，援助的作用会大打折扣；
- 通过使命检验。
在论坛上标注 [Urgent]，讨论至少 48 小时，然后进行赞成/反对投票。一笔紧急资助最多为当时可用预算的一半，所用金额从下一轮预算中扣除。
发放
- 资助以 ETH 计价批准。投票结束后，签名人通过 CoW Protocol 将相应数量的 wstETH 换成 $JUSTICE，至少分 3 天等额买入，价格上限为 7 日成交量加权均价的 115%，与 AIP-20 相同。
- 每位受助者按其获批的 ETH 金额，以本次买入的均价折算，收到相应的 $JUSTICE。
- 按 AIP-15 的要求，投票结束后 72 小时内开始执行。每一笔交易在签名之前都先发到论坛公开。
报告
- 受助者在收款后 90 天内，在论坛上报告做了什么、资金如何使用。
- 未按时报告的受助者，不能再申请之后的轮次。
本提案可通过之后的 AIP 修订。
4. 投票选项
- 赞成
- 反对
- 弃权
（整个空间设置为认可投票，请只勾选一个选项。）
5. 实施
两份草案都收到反馈后，与 AIP-21 一同上传至 Snapshot：延迟一天，投票两天。按 $JUSTICE 加权。