0xafbc3f98…e77csent to0xcdb9f8f9…a786·#15,395,685·view on Etherscan
# Advancing the Lootverse with a 2nd Gitcoin Ecosystem Round
## Summary: This is a proposal to use Loot’s RoyaltyDAO to fund a 50 ETH grant to go towards a “Lootverse Ecosystem Round” in the upcoming Gitcoin GR15 which launches September 7th.
### Background on the first Lootverse Ecosystem Round
In June, RoyaltyDAO [funded](https://www.royaltydao.com/vote/2) a 75 ETH "Lootverse Ecosystem" grant pool as part of GR14, which successfully delivered grants to 19 projects building on top of Loot.
→ Find the [GR14 Lootverse grant proposals here](https://gitcoin.co/grants/clr/gr14-loot)
• Beyond RoyaltyDAO's own contribution, the ecosystem round brought in thousands of additional contributors to offer additional no-strings-attached grants to Lootverse builders.
• The Lootverse had 4 proposals in the top 100 (out of ~1000) across all of Gitcoin in terms of contributions
• All of the Lootverse proposals made it into the top 25% of all Gitcoin proposals in terms of contributions, and in the top 35% in terms of # of contributors.
→ See a more detailed breakdown of the results of the prior ecosystem round [here](https://docs.google.com/spreadsheets/d/1hySr4pmrNRgpspHC-oKI4fAeiAMCYtL5RrHg8h-HXtc/)
## Why is the broader ecosystem supporting the Lootverse with grants?
The Lootverse is a community of builders, developers, designers, artists, writers and dreamers collectively experimenting at the edges of Web3 to build a decentralized, fictional fantasy universe, on-chain & CC0.
> Not only is Loot using to fuel public goods for the Lootverse, but the Lootverse itself is a public good for Web3.
• Loot is a bridge for writers, creators, musicians & builders into Web3
• Loot is a powerful energy source for the “on-chain media” movement
• Loot is an open source experiment that's shining a light on new and interesting use cases and technologies
## Why should RoyaltyDAO support Lootverse builders with no-strings-attached grants?
For more details on why we believe this is a strategic use of treasury funds, please see the [previous proposal](https://www.royaltydao.com/vote/2):
→ https://www.royaltydao.com/vote/2
This current proposal reduces the grant pool from 75ETH to 50ETH to enable us to fund a greater number of grant rounds in the future, ideally making this a more ongoing and predictable source of grant funding to help bootstrap creators looking to build on Loot.
## Mechanics & Admin
• A “Yes” on this proposal will transfer 50 ETH to Gitcoin’s multisig.
• Gitcoin will administer the individual grant payouts to grantees at the end of the round.
• Quorum for this vote to pass is >160 bags per [LIP-3](https://snapshot.org/#/loot-dao.eth/proposal/Qme6rEn4FupXKLBM89cJeL4U8WkEGChNuVyziXfbdHFq3t)
• In the trailing 90 days from today (8/23/22), the treasury has added 12 ETH from royalties.
• As of this writing, the RoyaltyDAO treasury contains 172 ETH from OpenSea royalties.
𝓉𝒽𝑜𝓊 𝓂𝒶𝓎𝑒𝓈𝓉