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# S23 Budget & Spinout for Passport ## To execute the ratified budget. The S23 (and final) budget for Passport passed on Snapshot and this proposal is to ratify that decision on chain and fund the final budget request from Passport. The details of the proposal which passed are below. ## Overview This budget request seeks funding to enable the spin out of Passport and fund the business for its initial six months. Here is what we are thinking. Passport has generated revenue on OP and Linea (by enabling onchain attestations of one’s unique humanity, and OP RPGF3). Together with this funding, and a six month budget, we would like to formally request a vote to spin out of Gitcoin DAO. In return for bootstrapping the business unit, we will ensure Gitcoin has equity ownership in the new entity, a token allocation if/when we launch a token and a board seat in the new entity. The details on how a DAO may participate are a little murky (ie, have equity, and a board seat) and so we will be working with the Gitcoin Foundation to formalize the ownership and board seat appointment. ### Funding Request for Season 23 Requested Amount: Gitcoin Passport is requesting a net allocation of 2050000 GTC\*, equivalent to approximately $1,604,857 out of the treasury to cover this final season. \*The GTC amount requested and reserves will be updated based on market conditions when this proposal moves to Tally, using the lower of the current price or the 20-day moving average.
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# [Proposal] Budget Request for ETHDenver Activation ## Intro This vote serves to ratify the [snapshot decision](https://snapshot.org/#/gitcoindao.eth/proposal/0xb797ee2238bc074523bfbc5881fef850d9c2defacde76ed4776fa0110d2e4cfa) to fund Gitcoin's upcoming appearance at EthDenver. You can read the full proposal here: <https://gov.gitcoin.co/t/proposal-budget-request-for-ethdenver-activation/17424> ## Details ### Total Budget The total budget for the ETHDenver activation is $71,750. ### Fund Allocation Events: $44,000 * Metagov Grantees Day ($2,000) * Metagov Program Managers Day ($4,000) * Gitcoin “Welcome to Denver” Get Together ($2,000) * Ecosystem Growth Summit ($30,000 - $15,000 for the event space, $5,000 for food and beverage, $10,000 for production costs) * Schelling Point Sessions: Impact Reporting ($2,000) * Passport Dinner & Whiteboard ($2,000) * Grants F\*\*\*-up Night ($2,000) Merchandise: $7,750 * Passport merch ($1,500) * Gitcoin merch ($5,500) * Stickers ($750) Travel reimbursements for individuals running all of the events: $5,000 Gitcoin House: $15,000 * House cost (50% Gitcoin, 50% WEST Group): $14,000 * Cleaning service between events: $950 * Event insurance: $50
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# [Proposal] Lower GTC Voting Thresholds on and off chain ## Details This proposal is making amendments for a previous proposal that is seeing some technical difficulties with implementation. ### Revised Proposal Details Based on technical advisability, the revised proposal is as follows: * Maintain Quorum Threshold: While the original plan was to reduce the quorum threshold to 1M GTC, we don’t want to deploy a new governor to make this change. * Reduce Proposal Threshold: Lower the requirement to initiate a proposal from 1M GTC to 150K GTC, making it easier for a wider range of stakeholders to actively participate in governance. * Maintain Current Voting Processes: The existing timeframes and procedures for both on-chain and off-chain voting will remain unchanged to ensure continuity and stability in our governance operations.
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# [GCP 017] Gitcoin Citizens Retroactive Funding Round ## Summary GCP-017 has passed on Snapshot and this is a vote to move the funds from treasury to the group running the round. The safe address is: eth:0x20f6a812952818f424882cA8fD635E41656912D2 which is a 2 of 3. This proposal is requesting $153k in GTC to continue a series of retroactive quadratic funding rounds to reward efforts supporting the Gitcoin Community, specifically by Gitcoin Citizens. Citizens are value-aligned community members who are eager to contribute their time and skills in service of Gitcoin’s mission. Running these rounds lowers the barrier of entry for contributing to the DAO, determines what the community values most, and helps test (dogfood) all of our products, driving innovation. This budget will fund two more Citizens Rounds including operations, and a supplement for community engagement. ### Budget This proposal is requesting a budget of $153K in GTC in funding for two rounds, including operations. The breakdown is as follows: * 50K Round #3: 40K matching pool + 10K GTC signal boosting * 70K Round #4: 60K matching pool + 10K GTC signal boosting * 32K Staffing: 16K round operations + 16K community engagement * 1K Reserves: expenses, eg. subscriptions, gas, transactions slippage Further details on signal boosting and community engagement are provided below. Note that without community engagement (which goes beyond operations), the overhead cost is 12%. Our aim is to reduce this further in the future by offsetting round operator costs through round participation.
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# [GCP-007] S18 Fund Thin Governance Governance within the DAO was previously funded by the DAOops workstream, which is closing operations at the end of Season 17. For season 18, we look to the GCP process as a mechanism to fund Governance Read the full proposal here: https://gov.gitcoin.co/t/gcp-007-s18-fund-thin-governance/14149 And check the snapshot decision here: https://snapshot.org/#/gitcoindao.eth/proposal/0x0d198bd3cdaa33f2fb165945dcee4b90bdf373f959bfa04eea93186befc24578 $20800.25 (3 months) = 520 hours (5200.5) (50% allocation) = 260 hours total 260 hours at $80 per hour = $20800 Taking the 20 day rolling average price of $0.90, the GCP is requesting 22,984 GTC. The season started on May 1 and concluded on July 31.
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# Withdraw and leverage (partial) USDC balance in treasury ### Summary Given the Snapshot vote passed, this vote is to ratify the decision to move 3M USDC from the treasury, into the CSDO multisig for the purposes of supporting workstream’s budgets such that workstreams can exchange GTC with USDC from the multisig instead of open markets. ### Specification Move 3M USDC to the CSDO multisig: eth:0x931896A8A9313F622a2AFCA76d1471B97955e551 This Gnosis safe is a 4/6 with other workstream leads in the DAO.
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# [S18] Gitcoin Passport Budget (repost) ## TL;DR This season, the Gitcoin Passport workstream will drive significant impact in the Gitcoin ecosystem by focusing on the following key outcomes: - Growing adoption and usage of Passport through development of on-chain mechanisms, user experience improvements, and broader DevRel initiatives. - Generating upside through strategic tests, including at least two revenue experiments, to identify sustainable value capture mechanisms that contribute to the long-term sustainability of the Gitcoin Passport App and the DAO. - Gathering a plurality of scoring mechanisms for communities to adopt, encouraging innovation from the broader community and making Passport a more versatile tool for managing identity and reputation. - Galvanizing community experiences around Passport by researching and potentially enabling custom community experiences, integration capabilities, and branded Passport experiences natively in their applications. ## Measurement Measuring progress against these goals will be critically important: ### Growing adoption - Increase the number of Passports by 5x (to 1MM) - Maintain an average stamp count of 8 or higher per passport. - Increase the number of integrators by 5x ### Generating upside - Test at least two experiments to generate upside - Generate at least $1 in revenue ### Gathering a plurality of Scoring Mechanisms - Ensure at least 5 scoring mechanisms available to communities - Ensure at least 4 of the scoring mechanisms are used ### Galvanize community experiences - Research and decide if we should build custom community experiences. ## Economics Passport Workstream is requesting 832,372 GTC* = $1,323,472 for S18-19, excluding reserves and rolled over amounts. **The amount of GTC requested and the value of the reserves will be adjusted based on the current market value at the time this proposal is moved to Tally using the lower of the current price or the 20 day moving average, whichever is lower. We will be requesting our funds through one Snapshot vote, but the release of the actual funds will be split over two Tally votes (one at the start of each season) for reasons of accountability and to mitigate potential price fluctuations.*
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# S18 Gitcoin Passport Workstream Budget ### TL;DR This season, the Gitcoin Passport workstream will drive significant impact in the Gitcoin ecosystem by focusing on the following key outcomes: - Growing adoption and usage of Passport through development of on-chain mechanisms, user experience improvements, and broader DevRel initiatives. - Generating upside through strategic tests, including at least two revenue experiments, to identify sustainable value capture mechanisms that contribute to the long-term sustainability of the Gitcoin Passport App and the DAO. - Gathering a plurality of scoring mechanisms for communities to adopt, encouraging innovation from the broader community and making Passport a more versatile tool for managing identity and reputation. - Galvanizing community experiences around Passport by researching and potentially enabling custom community experiences, integration capabilities, and branded Passport experiences natively in their applications. ### Measurement Measuring progress against these goals will be critically important: **Growing adoption** - Increase the number of Passports by 5x (to 1MM) - Maintain an average stamp count of 8 or higher per passport. - Increase the number of integrators by 5x **Generating upside** - Test at least two experiments to generate upside - Generate at least $1 in revenue **Gathering a plurality of Scoring Mechanisms** - Ensure at least 5 scoring mechanisms available to communities - Ensure at least 4 of the scoring mechanisms are used **Galvanize community experiences** - Research and decide if we should build custom community experiences. ### Economics Passport Workstream is requesting 832,372 GTC* = $1,323,472 for S18-19, excluding reserves and rolled over amounts. **The amount of GTC requested and the value of the reserves will be adjusted based on the current market value at the time this proposal is moved to Tally using the lower of the current price or the 20 day moving average, whichever is lower. We will be requesting our funds through one Snapshot vote, but the release of the actual funds will be split over two Tally votes (one at the start of each season) for reasons of accountability and to mitigate potential price fluctuations.*
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# [GCP-006] Infinite Garden Trading Card Game Given the Snapshot vote passed, we are moving this Tally to ratify and transfer from the treasury. The outside world sees crypto as little more than a decentralized casino but an optimistic counternarrative has emerged around the Gitcoin community. This vision, known as the Infinite Garden, reveals that crypto gives us coordination superpowers. I believe that for Gitcoin‘s mission to succeed, it must amplify regen stories that are informative, fun, and accessible to all. I intend to cultivate the Infinite Garden vision through a fun and accessible card game. In the project I am proposing, Moloch, Ether’s Phoenix, and the Dark Forest are just the beginning of a new, uplifting mythology represented in the Infinite Garden Trading Card Game (TCG). Crypto is at a critical inflection point. Gitcoin’s choice to invest in this project will help realize a positive-sum future for the following reasons (more motivations are listed in the GCP forum post): Games evoke feelings of freedom, creativity, responsibility, accomplishment, and friendship. These feelings mirror the core values of Gitcoin and the larger regen ecosystem. The Infinite Garden TCG mirrors reality. Every card has abilities in the game, and every character, technology, and gameplay mechanic also represents a powerful force in the real world. The cards introduce players to the infinite game of web3. Profits support Gitcoin Grants, future collectibles may be earned through regen actions, and cards may be introduced by the community. This GCP will fund a regen library wiki (recording the lore) and a pilot program that tests gameplay and new art. Voting "Yes" to $20k will fund 69-150 cards including 5 proposed by the Gitcoin community and 20% of primary sale profits to the Matching Pool
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# [S17] MMM Budget The MMM Budget has passed on snapshot after much discussion on the governance forums. Here is a tl;dr on the season 17 commitments: **Commitments** In Season 17, MMM will continue its focus on a successful protocol launch at ETHDenver, supporting the relaunch of Gitcoin Grants Program, perpetuating the strength and relevance of our brand, and building awareness and educating potential users of Passport. To do so, we are requesting a budget of $414,041. Our top priorities for this season include: - A successful marketing push at ETHDenver, including: - Development of a microsite that will live at evolution.gitcoin.co featuring launch of Grants Stack, our new visual identity and Quadratic Funding Record release with Metalabel - Running the Schelling Point conference (with the support of Supermodular as a contractor) - A PR/media relations push (with the support of YAP Global) - Coordinated efforts around consistent messaging for anyone speaking on stage at ETHDenver & bolstering these talks with related online content to capture audiences not present at ETH Denver - Launching a new gitcoin.co website - Finalize the Gitcoin Grants Stack, Allo Protocol, and Passport branding strategies and visual identities - Launch the first version of a living Impact Report that highlights the success of the Gitcoin Grants Program - Relaunch Passport and double down on marketing/education efforts from a content and creative perspective - Provide marketing support for the Grants Program in April **Amount** MMM’s S17 budget is $414,041 (-12.27% change vs S16 budget). After accounting for remaining budget & reserves, **MMM is requesting $122,069 for Season 17 from the treasury.** You can find the snapshot vote here: https://snapshot.org/#/gitcoindao.eth/proposal/0xb39cf2f698f8756eafe9378479b69dc28f563d64fc1c64afddbc5374a206d2fa
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# [S17] Gitcoin Passport Budget Proposal The snapshot vote for the Gitcoin Passport budget **passed** on Snapshot, and we would like to establish the budget for the workstream with this vote. Here are some of the details: This season the Passport workstream is going to focus on the following outcomes: Continue to grow the number of Passport holders, and the number of apps/communities integrating with passport Introduce and test at least one new scoring mechanism for other communities to consume Create a first class developer experience for those integrating with passport (either in app or scoring), and drive the number of integrations up to 25 **Amount:** Gitcoin Passport (GP) workstream is requesting 404,750GTC* for S17. We will be leaving all reserves with the Gitcoin Allo workstream, and as a result we are requesting the full amount of reserves be funded. *The GTC total will be adjusted based on the current market value at the time this proposal is moved to Tally. In this post, we used a $1.98 conversion rate. The vote will request the $USD amount in GTC at the lower of the current price or the 20 day moving average. Full details: The full budget and conversation can found on the governance forums: https://gov.gitcoin.co/t/s17-proposal-integrated-gitcoin-passport-budget-request/12727
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# S16 - Gitcoin Product Collective Budget The S16 Gitcoin Product Collective Budget request has passed on Snapshot and this vote is to ratify those results on chain and to transfer the budget to them. TL;DR 3 main takeaways: 1. GPC merged with the Moonshot Collective 3, consolidating the Gitcoin DAO’s software building teams into one workstream. The GPC Budget for S16 is relatively flat from S15 despite the merge and the inclusion of new talent from Moonshot, as the merge relieved GPC’s reliance on outside contracted resources. 2. GPC’s focus is now 100% on launching the Grants Protocol with the DAO’s recent commitment to replace GR16 2 with an alpha round on the protocol. 3. Gitcoin Passport is here, and it’s awesome. We will spend much of this season growing our list of integration partners and continue to refine & build out initial use cases to confirm product market fit. The snapshot vote is here for review: https://snapshot.org/#/gitcoindao.eth/proposal/0x974724227df2dcd1659379651886364eee441c24ff96ed0e0b2ee6395712408d The funds will go to a multisig controlled by GPC and will be distributed as described in the original proposal. The Gnosis safe that funds will be transferred to can be found at: https://app.safe.global/eth:0xd1f5d2A59Ef194aE00F27b2DA6599ce207ddE7cB/home This vote does also include the GTC to replenish the workstream's reserves.
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# Withdraw $10MM of GTC to diversify our treasury and increase governance partners With this vote we are moving $10MM in GTC to the same gnosis safe that has been used to diversify part of the treasury already - any amount not allocated as part of the diversification will be returned to the treasury. The Snapshot vote passed, and we are interested in moving forward as a result. You can see full details here on the snapshot proposal: https://snapshot.org/#/gitcoindao.eth/proposal/0xc6655f1fb08259263693f9111a8cdaba6b726390e9dbb65eaa6ce41905ba297c Further reading can be done at the two links below as well (original details and updated details): Treasury Diversification rationale on the governance forums: https://gov.gitcoin.co/t/gitcoin-treasury-diversification/9698 Update on terms: https://gov.gitcoin.co/t/treasury-diversification-part-ii-welcoming-strategic-partners/9825/4 We are moving $10MM in GTC to the gnosis safe used to diversify part of the treasury already. Those details are as follows: This is a 5/6 multisig. Signers on the multisig will be the the following Gitcoin Stewards: - Kyle - Annika - Shreyas / Llama - Kris - Simona - James / Fire Eyes The Gnosis safe can be found here: 0x85e01c9E286A6b2bbc816Cf862911572eaa34F04
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# Gitcoin Treasury Diversification (Part 1) **Summary** We propose moving $3 million of GTC (~1.35m GTC at time of writing) to a multisig wallet to execute the previously proposed treasury diversification. This will be exchanged for USDC via an agency desk in order to support critical DAO workstream funding needs. Any GTC that remains after the strategic diversification will be returned to the treasury. Given current market conditions and Gitcoin's operating needs, we think this is a prudent action to take. **State of GitcoinDAO’s Treasury** Today, GitcoinDAO’s treasury holds 23m GTC (roughly $57.1m). GitcoinDAO’s Treasury Vester holds another 26m GTC which will be distributed to the DAO over time. The vast majority of the DAO’s treasury is held in GTC, with very little in stablecoins. At the end of May, the DAO held $280k in DAI and USDC. **Rationale for Exchange** Individual DAO workstreams have been funded in GTC and are now facing an asset-liability mismatch. Many contributors have wages denominated in USD terms, yet workstreams only have GTC with which to pay said contributors. With the market downturn, workstreams now face an increased risk of not being able to meet these obligations. We wanted to quickly ensure that workstreams can meet their obligations. We’re engaging with a reputable agency desk to execute this transaction. The agency desk will utilize a broad range of liquidity sources to execute the transaction with approximately 10 bps of slippage or less. The agency desk will charge 20 bps as a fee and will likely be able to execute the transaction within 3-5 days. This will ensure that each workstream has the stables needed to meet near term expenses. We’ve proposed working with a trusted agency desk on the transaction as an alternative to requiring workstreams to sell GTC on the open market, which would be inefficient, costly, and operationally riskier. **Other Notes** Any GTC that remains after these actions will be sent back to the treasury. **Execution** We will transfer ~$3m in GTC to a multisig address consisting of the following Gitcoin Stewards as signers: - Kyle | kbw.eth - Annika | wombat.eth - Shreyas Hariharan - Kris - Simona - James / Fire Eyes This is the multisig address: 0x85e01c9E286A6b2bbc816Cf862911572eaa34F04. Kyle will then execute the diversification into stablecoins via the agency desk.
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# Gitcoin FDD workstream S14 funding request ratification ## FDD season 14 Budget Proposal Based on the process of discussion on the governance forum and the subsequent snapshot vote with the “Option 2 - $330,000” being selected, we are now moving this to Tally as a simple vote to release the funds or not. **Proposal History:** Governance Forum: https://gov.gitcoin.co/t/proposal-fdd-season-14-budget-request/10658 **Snapshot:** https://snapshot.org/#/gitcoindao.eth/proposal/0xb1543058fb6543c32dbea36fb596dbe4fd7a136189d44c8b60c8e7616781e053 ### High Level Budget Breakdown: - Season 14 Budget Total = $330.000 - PLUS Season 15 Reserves = $220,000 - Total Needed = $550,000 - MINUS Current Reserves = $268,796* - Total USD$ Amount requested at this time = $281,204 ### Voting Options: Approve (Yes) - Fund FDD request of $330,000 Deny (No) - Do not fund FDD for Season 14
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# Gitcoin MMM workstream S14 funding request ratification The S14 MMM budget request has passed on Snapshot and this vote is to ratify those results on chain and to transfer their budget to them. The snapshot vote is here for review: https://snapshot.org/#/gitcoindao.eth/proposal/0x43aa826eeca4380a8acabe787b41aea9b05a88c7958d5197cc77160183a9449e The funds will go to a multisig controlled by MMM and will be distributed as described in the original proposal. The Gnosis safe that funds will be transferred to can be found at: https://gnosis-safe.io/app/#/safes/0xC23DA3Ca9300571B9CF43298228353cbb3E1b4c0