Although in a different area (Blockchain based file storage), the organization of the funding process, mostly publicly available, is interesting. There seem to be very few (2) micro grant 5K$ submitted and approved. The open proposals (up to 30K$) are filed as pull requests. See this rejected proposal for an example: it has the financial amount which is good but the details were discussed in private and the proposal is very terse which suggests the private discussion are an important part of the process.
The wave 6 proposals are still open for the most part (13 out of 16). Looking at this particular proposal it is very detailed and was initiated in january 2021. It is unclear what happened after the initial request for contact.
My overall impression is that the general idea is good but the process needs to be improved: it is difficult to find examples that would demonstrate how it all works, because there are ~150 open cases with very different stages of development.