# [GCP-007] Fund Thin Governance for Season 18
This is for a proposal that was passed several months ago to fund governance work during S18.
See the full proposal here: https://gov.gitcoin.co/t/gcp-007-s18-fund-thin-governance/14149
Snapshot vote (passed): https://snapshot.org/#/gitcoindao.eth/proposal/0x0d198bd3cdaa33f2fb165945dcee4b90bdf373f959bfa04eea93186befc24578
# 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.
# [GCP-010] Evolving Gitcoin Grants: The Q.E.D. Program
Following the successful vote on snapshot: https://snapshot.org/#/gitcoindao.eth/proposal/0x8b8e0ed4ec6ef5031b407d4abbc41a604c2f14528a12ec87e21aa5f9e04cabc7
This Tally proposal will fund the work outlined in the GCP for $27,240 in USDC.
[GCP-010] Evolving Gitcoin Grants: The Q.E.D. (Quadratic Experimentation and Development) Program
How can Gitcoin leverage the lessons learned from its past experiments to address the limitations of the current Quadratic Funding model and refine it for future applications?
Given the multiple cohorts which exist and commit extractive and exploitative attacks on Gitcoin Grants and our Web3 partners, what novel solutions can Gitcoin explore to enhance the security and fairness of the Quadratic Funding model?
In the pursuit of next-generation allocation mechanisms, how can Gitcoin ensure a more representative and pluralistic environment for its Grants Programs and QV governance models?
We present the Q.E.D. (Quadratic Experimentation and Development) program, which aims to answer those questions through the development and implementation of collusion-resistant Quadratic Funding mechanisms for Gitcoin Grants. The project lead for Q.E.D. has developed state-of-the-art collusion-resistant QF mechanisms 2 in collaboration with leaders in the field 1, and brings to the table an ability to rigorously understand the unique needs of Allo Protocol. Q.E.D.'s aim is to create a more inclusive and democratic funding model that addresses collusion and improves the efficiency and fairness of the funding process, as well as to educate our prospective and current partners about the trade-offs that can be made in their own Allo use-cases.
Proposal
We propose to deliver the following:
- A tailored mathematical framework for understanding QF within Gitcoin’s context.
- Empirical analysis of collusion-resistant mechanisms using Gitcoin Grants data.
- Product roadmap with recommendations for data collection practices and Gitcoin Allo/ Passport feature analysis.
- Series of articles for marketing, educational, and onboarding purposes.
- Bi-weekly updates to the Gitcoin community.
# [GCP012] - State of Web3 Grants Report
The goal of this project is to do a review of and to produce a report on grant programs and their impact. The data collection and analysis will seek to capture information on the desired impact of grant programs, the way that impact is measured, the nature of operations of the grant program, and the mechanisms available to those structuring grant programs. The final output of this project will be a report that will be publicly available.
The requested budget for this report is $17,500 over 10 weeks.
Read the full post here: https://gov.gitcoin.co/t/proposal-state-of-web3-grants-report/14562/9
Accountable for delivery: Sov & CoachJ
# Supporting Funding the Commons Conference
This Tally vote will be based on the original gov forum post: https://gov.gitcoin.co/t/gcp-011-support-the-funding-the-commons-hackathon-residency-and-conference-series/14904
Snapshot vote results are here: https://snapshot.org/#/gitcoindao.eth/proposal/0x1bf4e07b5919f9fd92e2e08ddbcb681f5e84f16f2621aa0844690a7d9b73aff5
Note: These funds are only for the conference series. The remainder of funds supporting the hackathon and residency will come from the Matching Pool Multisig.
# S18 Gitcoin Allo Budget (repost)
Following the successful vote on Snapshot, we are moving this proposal to Tally for finalization and disbursement of funds. This request is specifically for the Season 18 funds. Per our governance process, we will request the S19 funds separately as we get closer to that season.
https://snapshot.org/#/gitcoindao.eth/proposal/0x2d2bb7898c0e397168fefd01496f835ee8345bbc73f6ead3bd10aefdc54a51a0
# Summary
### TL;DR
This season the Gitcoin Allo workstream’s core focus is on establishing product-market fit for web3 grants programs. To get there, we will be executing against two key outcomes:
- Enabling web3 grants programs to run the majority of their funding through Grants Stack
- Empowering builders to create new software applications on top of Allo protocol
### Outline
Allo is a protocol for democratic resource allocation, which enables communities to easily pool and distribute capital to their needs — Fund What Matters. In order to meet this value proposition, Allo needs to support a wide range of community-oriented resource allocation mechanisms. Up until now, the team has been focused on laying Allo’s foundation and creating a flagship Quadratic Funding experience on the protocol. However, over the course of our Design Partner Program (55+ interviews with ~30 web3 grants programs) we’ve learned that web3 communities tend to employ a wide variety of grant types that are geared to specific use cases. Those partners told us that Quadratic Funding, while popular as a tactic for engaging their broader communities, is generally considered a fit for a minority of those use cases (typically <20% of overall funding). In most cases, the programs want to use higher-touch mechanisms (e.g. committee/expert approvals, milestone-based payments, RFP-style grants, etc) for the bulk of their fund distribution. If we want to truly achieve product-market fit for Allo among web3 communities we’ll need to build additional mechanisms so that we are a viable option for those higher-touch scenarios. Strategically, we feel that building a strong foothold within web3 will give us a foundation for bringing our public good to additional communities.
In Season 18 and 19 we are going to pursue a two-pronged approach to building this strategic base. The first is Grants Stack — our primary interface for using Allo today. We want to ensure that it’s offering web3 communities a delightful entry-point to running grant programs. Our work here will be focused on expanding the types of grant programs that can be run through our three dApps (i.e. hitting our 13-5-5 goal of 13 QF rounds, 5 QV rounds, and 5 Direct Grants programs by September 1), continuing to improve the user experience, and establishing the next wave of our strategy once 13-5-5 has been achieved. The second prong is core Allo protocol. We want Allo to be a truly decentralized public good, and the work in this swimlane will be focused on enabling other builders to create apps on top of Allo. Tactically, that will likely be things like advancing the core protocol’s capabilities and assisting other teams with their builds.
### Amount
Allo is requesting 1,197,358 GTC* = $1,640,380 for S18, assuming 1.37 USD/GTC.
# [GCP-008] S18 Discord Management
Discord Management within the DAO was previously funded by the DAOops workstream, which is closing operations at the end of Season 17. Moving forward, we look to the GCP process as a mechanism to fund operational & organizational efficiency within one of our primary community & working hubs: Discord.
30 hours/week * 13 weeks = 390 hours total. 390 hours at $60 per hour = $23,400
Total request: $23,400
The season would start on May 1 and conclude on July 31, for a total of 13 weeks. There would be no severance should the service not be renewed.
Read the full proposal here:
https://gov.gitcoin.co/t/gcp-008-s18-discord-management/14123
# [GCP-008] S18 Discord Management
Discord Management within the DAO was previously funded by the DAOops workstream, which is closing operations at the end of Season 17. Moving forward, we look to the GCP process as a mechanism to fund operational & organizational efficiency within one of our primary community & working hubs: Discord.
30 hours/week * 13 weeks = 390 hours total. 390 hours at $60 per hour = $23,400
Total request: $23,400
The season would start on May 1 and conclude on July 31, for a total of 13 weeks. There would be no severance should the service not be renewed.
Read the full proposal here:
https://gov.gitcoin.co/t/gcp-008-s18-discord-management/14123
# [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.*
# S18-S19 Gitcoin Public Goods Funding Workstream Budget
Following the successful vote on Snapshot, we are moving this proposal to Tally for finalization and disbursement of funds. This request is specifically for the Season 18 funds. Per our governance process, we will request the S19 funds separately as we get closer to that season.
**Link**: `https://gov.gitcoin.co/t/proposal-public-goods-funding-workstream-season-18-19-budget-request/14122`
**TL:DR:
**In the upcoming integrated Seasons 18 and 19, Public Goods Funding (PGF) has outlined a plan aimed at achieving a series of key outcomes to contribute to the DAO’s sustained growth and success. The strategy encompasses various aspects, ranging from fundraising and operations to business development and stakeholder engagement.
1. Operate Gitcoin Grants Program rounds with Core and Featured Rounds.
2. Driving towards 13 Quadratic Funding (QF) rounds, 5 Quadratic Voting (QV) instances, and 5 direct grants programs. And achieve a total Gross Marketplace Value (GMV) of $10 million.
3. Enrich grantee pipeline to bolster Gitcoin’s reputation as an early predictor of web3 success.
4. Generate income through services model and Aqueducts.
5. Formulate and execute a plan to expand self-serve adoption of Grants Stack.
6. Support Passport workstream with business development to facilitate their six-month objectives: 1 million Passports, 5x integrations, and earn at least $1.
7. Work with the Allo workstream to funnel qualified leads for custom development atop the Allo.
**Amount Requested
**
Public Goods Workstream is requesting 417,960 GTC = $572,605 (assuming $1.37 USD/GTC_
# S18/S19 MMM Workstream Budget Request
This is the integrated funding proposal for the MMM workstream requesting funding for Season 18 and S19 (1 May 2023 through 31 October 2023).
### TL;DR
In S18 & 19 the MMM Workstream is going to focus on one overarching north-star goal: Reposition Gitcoin as a tech-first organization (read more below)
To accomplish this goal, MMM will focus on the following strategic marketing areas in S18/19:
- Bolster the narrative of our tech’s impact with meaningful research and impact reporting
- Drive awareness, engagement, adoption and fandom of our products (product marketing)
- Continue to establish and build hype for our products and Gitcoin’s overarching brand (brand marketing)
- Shift existing audience perceptions through PR and community engagement initiatives
### Budget request
Total [Workstream] Budgeted Spend S18-S19 = $1,121,200
33% Budget Reserves = $369,996
S17 Treasury Balance, incl unspent reserves = $300,000
Total S18-19 Request = **$1,191,196**
At the current token price of $1.37, we are requesting a total of **869,486 GTC**.
Details of this proposal can be found in the link: https://gov.gitcoin.co/t/proposal-mmm-workstream-season-18-19-budget-request/14106
# 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.*
# S18 Gitcoin Allo Budget
Following the successful vote on Snapshot, we are moving this proposal to Tally for finalization and disbursement of funds. This request is specifically for the Season 18 funds. Per our governance process, we will request the S19 funds separately as we get closer to that season.
https://snapshot.org/#/gitcoindao.eth/proposal/0x2d2bb7898c0e397168fefd01496f835ee8345bbc73f6ead3bd10aefdc54a51a0
# Summary
**TL;DR**
This season the Gitcoin Allo workstream’s core focus is on establishing product-market fit for web3 grants programs. To get there, we will be executing against two key outcomes:
- Enabling web3 grants programs to run the majority of their funding through Grants Stack
- Empowering builders to create new software applications on top of Allo protocol
**Outline**
Allo is a protocol for democratic resource allocation, which enables communities to easily pool and distribute capital to their needs — Fund What Matters. In order to meet this value proposition, Allo needs to support a wide range of community-oriented resource allocation mechanisms. Up until now, the team has been focused on laying Allo’s foundation and creating a flagship Quadratic Funding experience on the protocol. However, over the course of our Design Partner Program (55+ interviews with ~30 web3 grants programs) we’ve learned that web3 communities tend to employ a wide variety of grant types that are geared to specific use cases. Those partners told us that Quadratic Funding, while popular as a tactic for engaging their broader communities, is generally considered a fit for a minority of those use cases (typically <20% of overall funding). In most cases, the programs want to use higher-touch mechanisms (e.g. committee/expert approvals, milestone-based payments, RFP-style grants, etc) for the bulk of their fund distribution. If we want to truly achieve product-market fit for Allo among web3 communities we’ll need to build additional mechanisms so that we are a viable option for those higher-touch scenarios. Strategically, we feel that building a strong foothold within web3 will give us a foundation for bringing our public good to additional communities.
In Season 18 and 19 we are going to pursue a two-pronged approach to building this strategic base. The first is Grants Stack — our primary interface for using Allo today. We want to ensure that it’s offering web3 communities a delightful entry-point to running grant programs. Our work here will be focused on expanding the types of grant programs that can be run through our three dApps (i.e. hitting our 13-5-5 goal of 13 QF rounds, 5 QV rounds, and 5 Direct Grants programs by September 1), continuing to improve the user experience, and establishing the next wave of our strategy once 13-5-5 has been achieved. The second prong is core Allo protocol. We want Allo to be a truly decentralized public good, and the work in this swimlane will be focused on enabling other builders to create apps on top of Allo. Tactically, that will likely be things like advancing the core protocol’s capabilities and assisting other teams with their builds.
**Amount**
Allo is requesting 1,197,358 GTC* = $1,640,380 for S18, assuming 1.37 USD/GTC.
# [GCP-005] Gitcoin Supporting Zuzalu
Following the successful vote on Snapshot, we are moving this proposal to Tally for finalization and disbursement of funds: https://snapshot.org/#/gitcoindao.eth/proposal/0xe0f6373f6c95575ddf273fcf2fc194edf096ff2fc5e4e9f8ef8e1405b51a0653
Summary
A small number of Etherian magicians and longevity enthusiasts, including Vitalik Buterin are building a “pop up city/network state.” This proposal explores ways Gitcoin could support this event with resources (time and financially), and deliver impact for the Ethereum community, Gitcoin and the general growth and funding of public goods to help build and fund communities.
This vote is to partner with and support Zuzalu and showcase our Allo protocol via a Zuzalu Public Goods QF round of $100K and in supporting 1 FT and 3 PT people helping build the backend operations of Zuzalu ($62K) and $20K to go toward a Supermodular Buidlbox hackathon and running the Gitcoin QF round.
I am requesting $182K in GTC from the Gitcoin Treasury. Any funds that are not used for explicitly what was laid out in the proposal will go back to the Gitcoin Treasury.
Details of outcomes from this time investment are included here: https://gov.gitcoin.co/t/gcp-005-gitcoin-supporting-zuzalu-a-first-of-its-kind-pop-up-city/13296/24?u=j9leger
# [GCP-004] Gitcoin Citizens Round
Following the successful vote on Snapshot, we are moving this proposal to Tally for finalization and disbursement of funds: https://snapshot.org/#/gitcoindao.eth/proposal/0x8accce753fd16dd013c0c4792b6931e1c29b77ba00d70e1e5f93e7ad4ba32418
Summary:
Gitcoin is the world’s largest implementer of quadratic funding. We have run 105 quadratic funding rounds, helped fund over 3,700 projects, and grown ecosystems like Uniswap, Polygon, and ENS. Yet, we aren’t currently using quadratic funding ourselves. With the recent launch of the Allo protocol, Gitcoin should be one of the first ecosystems to use the protocol to fund its shared needs.
This proposal is to pilot a series of quadratic funding rounds for rewarding efforts supporting the Gitcoin Community, specifically by Gitcoin Citizens 2. Citizens are value-aligned community members who are eager to contribute their time and skills in service of the DAO. Running these rounds will lower the barrier of entry for contributing to the DAO, determine what the community values most, and help test (dogfood) the Allo protocol.
For this, we are requesting a total of $95K in GTC from the Gitcoin treasury. Please refer to the gov post: https://gov.gitcoin.co/t/gcp-004-passed-gitcoin-citizens-round/13462/12 and the Snapshot vote for the full details of the proposal.
# [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
# [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
# [S17] Gitcoin Allo Budget Proposal
This a re-submission as the last Tally vote failed to reach quorum.
Following the success of the snapshot vote for the Gitcoin Allo Workstream S17 Budget, we are moving this vote to Tally to fund the workstream.
This season the Allo workstream will be focused on transitioning from alpha to beta, with Eth Denver / the April Gitcoin rounds as key milestones and inflection points.
Our team is focusing on work for both Allo Protocol and Grants Stack, each with associated S17 outcomes:
Allo Protocol: The goals for Allo this season are finishing Protocol v0 and beginning to get builders working with the codebase. Our two Allo-focused outcomes: Enable Payouts v1. Engage the developer community.
Grants Stack: The primary goal in S17 is productizing QF rounds on Grants Stack. Our outcomes: Improve the project application and review flows. Build a project reputation system. Provide an easy, intuitive QF round experience.
Gitcoin Allo (GA) is requesting $803,533 for S17, and we plan to maintain a standard reserve of 60%. Due to price increases from when the S16 budget was funded, absorbing the Moonshot Collective treasury, and strong diversification, we have sufficient reserves to only request 153,000 GTC* ($272,300) this season to maintain our full budget and reserves.
*The GTC total was adjusted based on the lower of the current spot to the 20-day trailing average GTC price. We are using a $1.78 conversion rate for this proposal.
The full budget request can be reviewed here:
Draft: https://gov.gitcoin.co/t/s17-proposal-draft-gitcoin-allo-budget-request/12739
Integrated: https://gov.gitcoin.co/t/s17-proposal-integrated-gitcoin-allo-budget-request/12920
Snapshot: https://snapshot.org/#/gitcoindao.eth/proposal/0x555f90d3c76bd44ee4727b627b424d524a799b8dde9784991848c90b599e6562
# [S17] Gitcoin Allo Budget Proposal
Following the success of the snapshot vote for the Gitcoin Allo Workstream S17 Budget, we are moving this vote to Tally to fund the workstream.
This season the Allo workstream will be focused on transitioning from alpha to beta, with Eth Denver / the April Gitcoin rounds as key milestones and inflection points.
Our team is focusing on work for both Allo Protocol and Grants Stack, each with associated S17 outcomes:
Allo Protocol: The goals for Allo this season are finishing Protocol v0 and beginning to get builders working with the codebase. Our two Allo-focused outcomes: Enable Payouts v1. Engage the developer community.
Grants Stack: The primary goal in S17 is productizing QF rounds on Grants Stack. Our outcomes: Improve the project application and review flows. Build a project reputation system. Provide an easy, intuitive QF round experience.
Gitcoin Allo (GA) is requesting $803,533 for S17, and we plan to maintain a standard reserve of 60%. Due to price increases from when the S16 budget was funded, absorbing the Moonshot Collective treasury, and strong diversification, we have sufficient reserves to only request 136,200 GTC* ($272,300) this season to maintain our full budget and reserves.
*The GTC total was adjusted based on the 20 day trailing average GTC price of $1.99 conversion rate.
The full budget request can be reviewed here:
- Draft: https://gov.gitcoin.co/t/s17-proposal-draft-gitcoin-allo-budget-request/12739
- Integrated: https://gov.gitcoin.co/t/s17-proposal-integrated-gitcoin-allo-budget-request/12920
- Snapshot: https://snapshot.org/#/gitcoindao.eth/proposal/0x555f90d3c76bd44ee4727b627b424d524a799b8dde9784991848c90b599e6562
# [S17] Gitcoin Public Goods Funding Proposal
The snapshot vote for the Gitcoin PGF budget passed on Snapshot, and we would like to establish the budget for the workstream with this vote. Here are some of the details:
Our main goals for S17 are twofold:
Protocol growth readiness and Gitcoin Grants Program readiness.
Our overarching priority in S17 is to continue setting up the protocol for successful adoption with solid infrastructure to drive sustainable growth.
Overall we will:
Developing runbooks and guides for communities to use to run QF rounds and drive adoption
Running test rounds with partners to onboard and enable them to manage their own programs permissionlessly
Defining and launching the Core Gitcoin Grants Program in April, to embrace our DAO’s goal of funding public goods with our protocol
Defining and providing a paid services offering to early adopters until a fully self serve approach is viable
Amount:
PGF's S17 budget is $606,000. A 30% decrease from last season. Accounting for 60+ day reserves and current reserves we are requesting $337,903. A 68% decrease from our total request last season.
You can view our full proposal here: https://gov.gitcoin.co/t/s17-proposal-draft-gitcoin-public-goods-funding-budget-request/12742
# [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
# S16 - FDD Budget Proposal
Based on the process of discussion on the governance forum and the subsequent passing snapshot vote of funding FDD $349,500 for S16, we are now moving this onchain to Tally as a simple vote to release the funds or not.
This vote is for the release of 237,875 to fund the FDD Season 16 budget to the FDD Primary Multisig at: 0xD4567069C5a1c1fc8261d8Ff5C0B1d98f069Cf47
Proposal History Governance Forum (full budget request): https://gov.gitcoin.co/t/s16-proposal-integrated-fdd-budget-request/11890 Snapshot: https://snapshot.org/#/gitcoindao.eth/proposal/0xc49ae9a62e6b0ad1652adc115886a0a245d52c0035238bb9bcb9e055cb51c568
Budget Breakdown Season 16 Budget Total = $349,500
Season 16 Reserves = $233,000 = Season 16 Total Needs = $582,500
Season 15 Reserves = $194,764* = Total Request = $387,736
The total request of $387,736 = 237,875 GTC**
*FDD received $233,000 in reserves at $1.95/GTC with its S15 budget. This amount was not spent prior to the end of the season. At a current price of $1.63/GTC (20 day moving average) the amount to return to treasury is $194,764.
**The GTC total will be adjusted based on the current market value at the time this proposal is moved to Tally. The vote will be to send the requested $USD amount in GTC at the lower of the current price or the 20 day moving average, whichever is lower.
# S16 - FDD Budget Proposal
Based on the process of discussion on the governance forum and the subsequent passing snapshot vote of funding FDD $349,500 for S16, we are now moving this onchain to Tally as a simple vote to release the funds or not.
This vote is for the release of 237,875 to fund the FDD Season 16 budget to the FDD Primary Multisig at: 0xD4567069C5a1c1fc8261d8Ff5C0B1d98f069Cf47
Proposal History
Governance Forum (full budget request):
https://gov.gitcoin.co/t/s16-proposal-integrated-fdd-budget-request/11890
Snapshot:
https://snapshot.org/#/gitcoindao.eth/proposal/0xc49ae9a62e6b0ad1652adc115886a0a245d52c0035238bb9bcb9e055cb51c568
Budget Breakdown
Season 16 Budget Total = $349,500
+ Season 16 Reserves = $233,000
= Season 16 Total Needs = $582,500
- Season 15 Reserves = $194,764*
= Total Request = $387,736
The total request of $387,736 = 237,875 GTC**
*FDD received $233,000 in reserves at $1.95/GTC with its S15 budget. This amount was not spent prior to the end of the season. At a current price of $1.63/GTC (20 day moving average) the amount to return to treasury is $194,764.
**The GTC total will be adjusted based on the current market value at the time this proposal is moved to Tally. The vote will be to send the requested $USD amount in GTC at the lower of the current price or the 20 day moving average, whichever is lower.
# S16 - MMM Budget
This is a funding proposal for the MMM Workstream requesting ratification budgetary funds for Season 16.
TL;DR In Season 16, MMM will continue to focus on providing support for the Grants Protocol launch, the Grants Program Success and Community Engagement. To do so, we are requesting a budget of $471,949.
Our top priorities for this season include:
Finalize overall Gitcoin, protocol, Passport and Grants Program branding strategies Launch (or make significant headway in launching) a new gitcoin.co website Developing and socializing communications around GR16, the sunsetting of the centralized grants platform (cGrants) and our transition to the protocol Developing and releasing an Impact Report to highlight the success of the Gitcoin Grants Program Develop and test an engagement strategy that targets three core community audiences (which were identified and researched in S15) Amount
MMM’s S16 budget is $471,949 (+13% vs S15 budget of $417,543). After accounting for remaining budget & reserves, MMM is requesting $686,239 for Season 16 from the treasury.
The snapshot vote is here for review: https://snapshot.org/#/gitcoindao.eth/proposal/0x35010aec1b8a754dc250ac714c6b3c7337663d1d82a601537eb72f3afee99249
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://app.safe.global/eth:0xC23DA3Ca9300571B9CF43298228353cbb3E1b4c0/home
# S16 - Gitcoin Public Goods Funding Budget
The S16 Gitcoin Public Goods Funding 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**
In S16 we are shifting our priorities to the grants protocol to ensure success at launchl. This will include re-thinking the eligibility policy requirements, designing robust processes, operations, and services to easily scale protocol rounds, all while testing and delivering alpha rounds on the protocol in S16.
The snapshot vote is here for review:
https://snapshot.org/#/gitcoindao.eth/proposal/0x63e139b75e52843ce6af2e684101025ba2f88edf80775397927a875d9617b789
The funds will go to a multisig controlled by PGF 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/eth:0xa7aC9f7087d7197e0047DB9A90562a1364bf897D/
Total budget incl reserves: = $868,750 + $579,167 - S15 rollover ($340,513 current balance)
Total requested: $1,107,404
GTC Price: $1.68
Total in GTC: 659,169
*Please note that a denomination in dollar amount has been prioritized in budget proposals over GTC - so if the spot price assumed at posting of a budget changes between then and when the budget executes, the GTC amount will be readjusted to reflect the dollar amount at the time this proposal is moved to Tally or the 20 day moving average (whichever is lower).
# S16 - Gitcoin Public Goods Funding Budget
The S16 Gitcoin Public Goods Funding 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**
In S16 we are shifting our priorities to the grants protocol to ensure success at launchl. This will include re-thinking the eligibility policy requirements, designing robust processes, operations, and services to easily scale protocol rounds, all while testing and delivering alpha rounds on the protocol in S16.
The snapshot vote is here for review:
https://snapshot.org/#/gitcoindao.eth/proposal/0x63e139b75e52843ce6af2e684101025ba2f88edf80775397927a875d9617b789
The funds will go to a multisig controlled by PGF 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/eth:0xa7aC9f7087d7197e0047DB9A90562a1364bf897D/
Total budget incl reserves: = $868,750 + $579,167 - S15 rollover ($340,513 current balance)
Total requested: $1,107,404
GTC Price: $1.68
Total in GTC: 659,169
*Please note that a denomination in dollar amount has been prioritized in budget proposals over GTC - so if the spot price assumed at posting of a budget changes between then and when the budget executes, the GTC amount will be readjusted to reflect the dollar amount at the time this proposal is moved to Tally or the 20 day moving average (whichever is lower).
# S16 - DAO Operations Budget
The S16 DAO Ops Budget request has passed on Snapshot and this vote is to ratify those results on chain and to transfer the budget to them.
The snapshot vote can be reviewed [here](https://snapshot.org/#/gitcoindao.eth/proposal/0x08bc5d61cf0e939b333187625eb2f3dce3a630a328db2b76f4776107cf6612c3)
Total budget incl reserves: = $348.509+$232.339 - S15 rollover ($186.166 current balance)
- **Total requested: $394.682**
- GTC Price: $1.65
- **Total in GTC: 239.928**
The funds will go to a multisig controlled by DAO Ops and will be distributed as described in the original proposal. The Gnosis safe that funds will be transferred to can be found [here](https://gnosis-safe.io/app/eth:0x5Dd4721bb322499616d827Be45c93F55D9181bC3/home)
This vote does also include the GTC to replenish the workstream's reserves.
# 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.
# Public Goods Funding S15 Budget Request (second try)
This vote is looking to pass the S15 budget for the Public Goods Funding Workstream.
The total amount requested is $664,550, to be paid in GTC.
For more details, please see this post: https://gov.gitcoin.co/t/s15-proposal-integrated-pgf-budget-request/11220/5
The GTC total will be determined, based on (a) the current market price of GTC at the time this proposal is moved to Tally, and (b) the remaining balance in the PGF Multisig (which will determine how much net new funding we require).
# Public Goods Funding S15 Budget Request (second try)
Note: the previous proposal was not executed before the cut-off date of ~10 days and therefore expired. This proposal is a re-execution of Prop 36
This vote is looking to pass the S15 budget for the Public Goods Funding Workstream.
The total amount requested is $664,550, to be paid in GTC.
For more details, please see this post: https://gov.gitcoin.co/t/s15-proposal-integrated-pgf-budget-request/11220/5
The GTC total will be determined, based on (a) the current market price of GTC at the time this proposal is moved to Tally, and (b) the remaining balance in the PGF Multisig (which will determine how much net new funding we require).
approve(address,uint256)delegate(address)# Gitcoin // Radicle Public Goods Alliance
Mutual grants between Gitcoin and Radicle to form Public Goods Alliance. Already passed on Snapshot.
Snapshot: https://snapshot.org/#/gitcoindao.eth/proposal/0x79e8ca9c2f8af4b606cbba35a478e9fc2080d48d1fd80300deeb63245a148768
Governance Forum Discussion: https://gov.gitcoin.co/t/gitcoin-radicle-public-goods-alliance-temp-check/10825?u=kydo
Github: https://github.com/llama-community/gtc-rad-public-goods-alliance
Contract: https://etherscan.io/address/0x5800d9a00551168adb4d68b3304ea781dbced658#code
# Gitcoin // Radicle Public Goods Alliance
Mutual grants between Gitcoin and Radicle to form Public Goods Alliance. Already passed on Snapshot.
Snapshot: https://snapshot.org/#/gitcoindao.eth/proposal/0x79e8ca9c2f8af4b606cbba35a478e9fc2080d48d1fd80300deeb63245a148768
Governance Forum Discussion: https://gov.gitcoin.co/t/gitcoin-radicle-public-goods-alliance-temp-check/10825?u=kydo
Github: https://github.com/llama-community/gtc-rad-public-goods-alliance
Contract: https://etherscan.io/address/0x5800d9a00551168adb4d68b3304ea781dbced658#code
transfer(address,uint256)# Public Goods Funding S15 Budget Request
This vote is looking to pass the S15 budget for the Public Goods Funding Workstream.
The total amount requested is $664,550, to be paid in GTC.
For more details, please see this post: https://gov.gitcoin.co/t/s15-proposal-integrated-pgf-budget-request/11220/5
The GTC total will be determined, based on (a) the current market price of GTC at the time this proposal is moved to Tally, and (b) the remaining balance in the PGF Multisig (which will determine how much net new funding we require).
# Public Goods Funding S15 Budget Request
This vote is looking to pass the S15 budget for the Public Goods Funding Workstream.
The total amount requested is $664,550, to be paid in GTC.
For more details, please see this post: https://gov.gitcoin.co/t/s15-proposal-integrated-pgf-budget-request/11220/5
The GTC total will be determined, based on (a) the current market price of GTC at the time this proposal is moved to Tally, and (b) the remaining balance in the PGF Multisig (which will determine how much net new funding we require).
transfer(address,uint256)# FDD S15 Budget Proposal
Based on the process of discussion on the governance forum and the subsequent passing snapshot vote of funding FDD $349,500 for S15, we are now moving this onchain to Tally as a simple vote to release the funds or not.
This vote is for the release of 217,597 GTC to fund the FDD Season 15 budget to the FDD Primary Multisig at: 0xD4567069C5a1c1fc8261d8Ff5C0B1d98f069Cf47
Proposal History
Governance Forum (full budget request):
https://gov.gitcoin.co/t/s15-proposal-integrated-fdd-budget-request/11224
Snapshot: https://snapshot.org/#/gitcoindao.eth/proposal/0x8a9aecd06894687d7c527d1ec2fff09bdbcb2ed82ef3e761413f84a3e0c6d767
Budget Breakdown
Season 15 Budget Total = $349,500
+ Season 15 Reserves = $233,000
= Season 15 Total Needs = $582,500
- Season 14 Reserves = $147,157*
= Total Request = $424,305
The total request of $435,195 = 217,597 GTC**
*FDD received $220,000 in reserves at $2.99/GTC with its S14 budget. This amount was not spent prior to the end of the season. At a current price of $2.00/GTC the amount to return to treasury is $147,157.
**The GTC total will be adjusted based on the current market value at the time this proposal is moved to Tally. The vote will be to send the requested $USD amount in GTC at the lower of the current price or the 20 day moving average, whichever is lower.
# FDD S15 Budget Proposal
Based on the process of discussion on the governance forum and the subsequent passing snapshot vote of funding FDD $349,500 for S15, we are now moving this onchain to Tally as a simple vote to release the funds or not.
This vote is for the release of 217,597 GTC to fund the FDD Season 15 budget to the FDD Primary Multisig at: 0xD4567069C5a1c1fc8261d8Ff5C0B1d98f069Cf47
Proposal History
Governance Forum (full budget request):
https://gov.gitcoin.co/t/s15-proposal-integrated-fdd-budget-request/11224
Snapshot: https://snapshot.org/#/gitcoindao.eth/proposal/0x8a9aecd06894687d7c527d1ec2fff09bdbcb2ed82ef3e761413f84a3e0c6d767
Budget Breakdown
Season 15 Budget Total = $349,500
+ Season 15 Reserves = $233,000
= Season 15 Total Needs = $582,500
- Season 14 Reserves = $147,157*
= Total Request = $424,305
The total request of $435,195 = 217,597 GTC**
*FDD received $220,000 in reserves at $2.99/GTC with its S14 budget. This amount was not spent prior to the end of the season. At a current price of $2.00/GTC the amount to return to treasury is $147,157.
**The GTC total will be adjusted based on the current market value at the time this proposal is moved to Tally. The vote will be to send the requested $USD amount in GTC at the lower of the current price or the 20 day moving average, whichever is lower.
transfer(address,uint256)# 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
# 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
transfer(address,uint256)# MMM S15 Budget Proposal
Based on the process of discussion on the governance forum and the subsequent passing snapshot vote of funding MMM $172,935 for S15, we are now moving this on-chain to Tally as a simple vote to release the funds or not.
Proposal History
Governance Forum (full budget request): https://gov.gitcoin.co/t/s15-proposal-integrated-mmm-budget-request/11222/12
Snapshot: https://snapshot.org/#/gitcoindao.eth/proposal/0x6f9c5c8b4a7b736557afae1457c9465275e37516967e15593c51c3376b661b13
Budget Breakdown Season 15 Budget Total = $417,543 PLUS Season 15 Reserves = $278,362 MINUS Current treasury balance = ($522,970) Total USD$ Amount requested at this time = $172,935
The GTC total will be adjusted based on the current market value at the time this proposal is moved to Tally. The vote will be to send the requested $USD amount in GTC.
# MMM S15 Budget Proposal
Based on the process of discussion on the governance forum and the subsequent passing snapshot vote of funding MMM $172,935 for S15, we are now moving this on-chain to Tally as a simple vote to release the funds or not.
Proposal History
Governance Forum (full budget request): https://gov.gitcoin.co/t/s15-proposal-integrated-mmm-budget-request/11222/12
Snapshot: https://snapshot.org/#/gitcoindao.eth/proposal/0x6f9c5c8b4a7b736557afae1457c9465275e37516967e15593c51c3376b661b13
Budget Breakdown Season 15 Budget Total = $417,543 PLUS Season 15 Reserves = $278,362 MINUS Current treasury balance = ($522,970) Total USD$ Amount requested at this time = $172,935
The GTC total will be adjusted based on the current market value at the time this proposal is moved to Tally. The vote will be to send the requested $USD amount in GTC.
transfer(address,uint256)# Moonshot Collective S15 Budget Proposal
Based on the process of discussion on the governance forum and the subsequent passing snapshot vote of funding MC $267,005 for S15, we are now moving this onchain to Tally as a simple vote to release the funds or not.
**Proposal History**
Governance Forum (full budget request):
https://gov.gitcoin.co/t/s15-proposal-integrated-moonshot-collective-budget-request/11214
Snapshot:
https://snapshot.org/#/gitcoindao.eth/proposal/0x643408b11f50d57c027f49f7e13246bd7d84a1fca863f71d165b80074dbe2c4d
**Budget Breakdown**
Season 15 Budget Total = $394,121
PLUS Season 15 Reserves = $180,000
MINUS Current treasury balance = ($328,117)
Total USD$ Amount requested at this time = $267,004
*The GTC total will be adjusted based on the current market value at the time this proposal is moved to Tally. The vote will be to send the requested $USD amount in GTC at the lower of the current price or the 20 day moving average, whichever is lower.*
# Moonshot Collective S15 Budget Proposal
Based on the process of discussion on the governance forum and the subsequent passing snapshot vote of funding MC $267,005 for S15, we are now moving this onchain to Tally as a simple vote to release the funds or not.
**Proposal History**
Governance Forum (full budget request):
https://gov.gitcoin.co/t/s15-proposal-integrated-moonshot-collective-budget-request/11214
Snapshot:
https://snapshot.org/#/gitcoindao.eth/proposal/0x643408b11f50d57c027f49f7e13246bd7d84a1fca863f71d165b80074dbe2c4d
**Budget Breakdown**
Season 15 Budget Total = $394,121
PLUS Season 15 Reserves = $180,000
MINUS Current treasury balance = ($328,117)
Total USD$ Amount requested at this time = $267,004
*The GTC total will be adjusted based on the current market value at the time this proposal is moved to Tally. The vote will be to send the requested $USD amount in GTC at the lower of the current price or the 20 day moving average, whichever is lower.*
transfer(address,uint256)# Gitcoin Product Collective Workstream S15 funding request ratification
The GPC S15 workstream proposal and budget request have passed on [Snapshot ](https://snapshot.org/#/gitcoindao.eth/proposal/0xc6309348f43ba77bb488d2d5f154db3264f86a890b500fa8286fe089c6ddc9a0 ). This vote is to ratify those results on-chain and fund the GPC Workstream multisig.
The GPC Workstream multisig can be reviewed here: https://gnosis-safe.io/app/eth:0xd1f5d2A59Ef194aE00F27b2DA6599ce207ddE7cB
# Gitcoin Product Collective Workstream S15 funding request ratification
The GPC S15 workstream proposal and budget request have passed on [Snapshot ](https://snapshot.org/#/gitcoindao.eth/proposal/0xc6309348f43ba77bb488d2d5f154db3264f86a890b500fa8286fe089c6ddc9a0 ). This vote is to ratify those results on-chain and fund the GPC Workstream multisig.
The GPC Workstream multisig can be reviewed here: https://gnosis-safe.io/app/eth:0xd1f5d2A59Ef194aE00F27b2DA6599ce207ddE7cB
transfer(address,uint256) ^# 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.
# 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.
transfer(address,uint256)# 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
# 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
transfer(address,uint256)# Gitcoin PGF workstream S14 funding request ratification
The S14 PGF 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/0xbe39c3414e4622a2522dc4d6e9030deb56fa8b90304dae05cd1a2a6d50cb5537
The funds will go to a multisig controlled by PGF 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/eth:0xa7aC9f7087d7197e0047DB9A90562a1364bf897D/balances
*Please note that a denomination in dollar amount has been prioritized in budget proposals over GTC - so if the spot price assumed at posting of a budget changes between then and when the budget executes, the GTC amount will be readjusted to reflect the dollar amount at the time this proposal is moved to Tally or the 20 day moving average (whichever is lower) is moved to Tally.