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Memo 0xd4b13ec3…b1bfa6 on Ethereum

0xafbc3f98…e77csent to0xcdb9f8f9…a786·#13,844,590·view on Etherscan
# Loot Retroactive Community Funding (Round 1) ### Background In October, the Loot.exchange team spun up a Loot "Royalty DAO" funded by a portion of trading fees from Loot.exchange. Soon thereafter, the Loot community voted to implement a 5% royalty on OpenSea and all other marketplace, and to send those royalties into the same unified DAO. As of 12/20/22, this Loot DAO has a treasury of 136.8ETH. This proposal represents the first allocation of the treasury, focused first on the "public goods" projects of the Lootverse. ### Proposal Summary Beginning the process of allocating funds from the Loot DAO is of utmost importance to keep momentum in the Loot ecosystem. If we support great projects and builders, we'll encourage continued development and creativity within the Lootverse. Due to the gas challenges of allocating small grants with on-chain voting, we propose an initial block grant, allocated to retroactively fund great public goods projects. **For our first community funding vote, we propose an initial block grant of 25Eth, allocated to public goods projects.** ### Selected Projects and Allocation There are many public goods projects in the loot ecosystem, projects that have provided significant value to the Loot Ecosystem, often while collecting zero or minimal fees. Retroactive funding would allocate treasury funds to these projects for previous work, incentivizing them to continue to build the Loot ecosystem. As a precursor to this proposal, the community used quadratic voting via Snapshot vote to determine a set of "public goods projects" and an allocation per project/builder. ### Snapshot Vote: https://snapshot.org/#/loot-dao.eth/proposal/0xaa8d5081c6a0fb19abf8868825d87aa5d914bcf1c5afda01d58a16a5c34a3463 ### Results (Vote percentage / Proposed Allocation): • Loot Bibliotheca (https://bibliothecaforloot.com/loot): 34.92% = 8.73 Eth • Loot Exchange (hhttps://www.loot.exchange/): 21.71% = 5.4275 Eth • The Herald (https://lootproject.substack.com/): 10.84% = 2.71 Eth • Dom (@dhof): 10.26% = 2.565 Eth • LootWatcher (https://www.lootwatcher.com/): 6.85% = 1.7125 Eth • Loot Rarity (https://github.com/bpierre/loot-rarity): 4.95% = 1.2375 Eth • George (Loot Discord) 4.09% = 1.0225 Eth • LootMart (https://www.lootmart.xyz/): 3.23% = 0.8075 Eth • Loot Swag (https://lootswag.io/): 3.15% = 0.7875 Eth ### On-chain Treasury Vote This on-chain Loot DAO vote determines whether a 25 Eth block is allocated according to the distribution above. As such, the vote is a simple Yes/No vote, with 2% quorum as previously determined by treasury set-up. The original DAO treasury voting mechanics are discussed here: https://loot-talk.com/t/community-treasury-an-experiment-in-loot-funding/1728 Fund allocation is directly tied to the vote and will be deposited upon a passing vote. ### Why Batch? Batching small grant funding is useful to improve the efficiency of proposals. Since voting is on-chain, there are gas fees. This means that small allocations face a high relative gas cost. While various mechanisms to circumvent this issue have been discussed, block allocations are the easiest solution in the near term.
unknown sendersent to0xcdb9f8f9…a786·#13,844,590·view on Etherscan
# Loot Retroactive Community Funding (Round 1) ### Background In October, the Loot.exchange team spun up a Loot "Royalty DAO" funded by a portion of trading fees from Loot.exchange. Soon thereafter, the Loot community voted to implement a 5% royalty on OpenSea and all other marketplace, and to send those royalties into the same unified DAO. As of 12/20/22, this Loot DAO has a treasury of 136.8ETH. This proposal represents the first allocation of the treasury, focused first on the "public goods" projects of the Lootverse. ### Proposal Summary Beginning the process of allocating funds from the Loot DAO is of utmost importance to keep momentum in the Loot ecosystem. If we support great projects and builders, we'll encourage continued development and creativity within the Lootverse. Due to the gas challenges of allocating small grants with on-chain voting, we propose an initial block grant, allocated to retroactively fund great public goods projects. **For our first community funding vote, we propose an initial block grant of 25Eth, allocated to public goods projects.** ### Selected Projects and Allocation There are many public goods projects in the loot ecosystem, projects that have provided significant value to the Loot Ecosystem, often while collecting zero or minimal fees. Retroactive funding would allocate treasury funds to these projects for previous work, incentivizing them to continue to build the Loot ecosystem. As a precursor to this proposal, the community used quadratic voting via Snapshot vote to determine a set of "public goods projects" and an allocation per project/builder. ### Snapshot Vote: https://snapshot.org/#/loot-dao.eth/proposal/0xaa8d5081c6a0fb19abf8868825d87aa5d914bcf1c5afda01d58a16a5c34a3463 ### Results (Vote percentage / Proposed Allocation): • Loot Bibliotheca (https://bibliothecaforloot.com/loot): 34.92% = 8.73 Eth • Loot Exchange (hhttps://www.loot.exchange/): 21.71% = 5.4275 Eth • The Herald (https://lootproject.substack.com/): 10.84% = 2.71 Eth • Dom (@dhof): 10.26% = 2.565 Eth • LootWatcher (https://www.lootwatcher.com/): 6.85% = 1.7125 Eth • Loot Rarity (https://github.com/bpierre/loot-rarity): 4.95% = 1.2375 Eth • George (Loot Discord) 4.09% = 1.0225 Eth • LootMart (https://www.lootmart.xyz/): 3.23% = 0.8075 Eth • Loot Swag (https://lootswag.io/): 3.15% = 0.7875 Eth ### On-chain Treasury Vote This on-chain Loot DAO vote determines whether a 25 Eth block is allocated according to the distribution above. As such, the vote is a simple Yes/No vote, with 2% quorum as previously determined by treasury set-up. The original DAO treasury voting mechanics are discussed here: https://loot-talk.com/t/community-treasury-an-experiment-in-loot-funding/1728 Fund allocation is directly tied to the vote and will be deposited upon a passing vote. ### Why Batch? Batching small grant funding is useful to improve the efficiency of proposals. Since voting is on-chain, there are gas fees. This means that small allocations face a high relative gas cost. While various mechanisms to circumvent this issue have been discussed, block allocations are the easiest solution in the near term.
unknown sendersent to0xcdb9f8f9…a786·#13,844,590·view on Etherscan
# Loot Retroactive Community Funding (Round 1) ### Background In October, the Loot.exchange team spun up a Loot "Royalty DAO" funded by a portion of trading fees from Loot.exchange. Soon thereafter, the Loot community voted to implement a 5% royalty on OpenSea and all other marketplace, and to send those royalties into the same unified DAO. As of 12/20/22, this Loot DAO has a treasury of 136.8ETH. This proposal represents the first allocation of the treasury, focused first on the "public goods" projects of the Lootverse. ### Proposal Summary Beginning the process of allocating funds from the Loot DAO is of utmost importance to keep momentum in the Loot ecosystem. If we support great projects and builders, we'll encourage continued development and creativity within the Lootverse. Due to the gas challenges of allocating small grants with on-chain voting, we propose an initial block grant, allocated to retroactively fund great public goods projects. **For our first community funding vote, we propose an initial block grant of 25Eth, allocated to public goods projects.** ### Selected Projects and Allocation There are many public goods projects in the loot ecosystem, projects that have provided significant value to the Loot Ecosystem, often while collecting zero or minimal fees. Retroactive funding would allocate treasury funds to these projects for previous work, incentivizing them to continue to build the Loot ecosystem. As a precursor to this proposal, the community used quadratic voting via Snapshot vote to determine a set of "public goods projects" and an allocation per project/builder. ### Snapshot Vote: https://snapshot.org/#/loot-dao.eth/proposal/0xaa8d5081c6a0fb19abf8868825d87aa5d914bcf1c5afda01d58a16a5c34a3463 ### Results (Vote percentage / Proposed Allocation): • Loot Bibliotheca (https://bibliothecaforloot.com/loot): 34.92% = 8.73 Eth • Loot Exchange (hhttps://www.loot.exchange/): 21.71% = 5.4275 Eth • The Herald (https://lootproject.substack.com/): 10.84% = 2.71 Eth • Dom (@dhof): 10.26% = 2.565 Eth • LootWatcher (https://www.lootwatcher.com/): 6.85% = 1.7125 Eth • Loot Rarity (https://github.com/bpierre/loot-rarity): 4.95% = 1.2375 Eth • George (Loot Discord) 4.09% = 1.0225 Eth • LootMart (https://www.lootmart.xyz/): 3.23% = 0.8075 Eth • Loot Swag (https://lootswag.io/): 3.15% = 0.7875 Eth ### On-chain Treasury Vote This on-chain Loot DAO vote determines whether a 25 Eth block is allocated according to the distribution above. As such, the vote is a simple Yes/No vote, with 2% quorum as previously determined by treasury set-up. The original DAO treasury voting mechanics are discussed here: https://loot-talk.com/t/community-treasury-an-experiment-in-loot-funding/1728 Fund allocation is directly tied to the vote and will be deposited upon a passing vote. ### Why Batch? Batching small grant funding is useful to improve the efficiency of proposals. Since voting is on-chain, there are gas fees. This means that small allocations face a high relative gas cost. While various mechanisms to circumvent this issue have been discussed, block allocations are the easiest solution in the near term.