Digest #41: FTX Implodes; Going From Gitcoin-Driven to Community-Driven

Last week, we launched three hackathons, and workstreams submitted their budget requests for S16. This week, the crypto community reacted to the implosion of FTX, and its effects on the market.

This week, the crypto exchange FTX shut down. The event sent shockwaves through crypto markets and communities, with some comparing the implosion of FTX to Mt. Gox and other cataclysmic events in crypto history. Crypto prices across the board plummeted on the news.

From Twitter, we asked, “What are your biggest takeaways from this? What lessons should we never forget?”

Some responses:

  • Self-sovereignty is still the best choice. :white_check_mark:Own your keys, own your crypto.:white_check_mark:Own your identity, own your data.” – @humptycalderon

  • decentralize yourself / decentralize your data / capture, collapse, rugging are inevitable / unless you are decentralized” – @epowell101

  • systemic anti fragility > systemic fragility / you can cast the dice 1,000 times and the outcome is the same” – @owocki

In This Issue of the Digest

  • DAO Happenings This Week :sparkles:
  • New Posts in the Governance Forum :postal_horn:
  • This Week’s GreenPill Episodes :seedling:
  • New and Active Governance Proposals :ballot_box_with_check: – None this week.
  • Upcoming Events :calendar:
  • Opportunities for Builders :construction_worker_man:

:sparkles: DAO Happenings This Week

:ballot_box_with_check: From the Governance Forum

These are the top three posts from this week in the Gitcoin Governance forum. See the latest here.

  • [Discussion & Feedback Request] Grants Protocol Alpha Round Eligibility by Connor

    Gitcoin governance has approved the decision to sunset cGrants and transition to the Grants Protocol with this Snapshot proposal. Instead of running GR16 in December, we will run an “Alpha Round” on the protocol in January, with the goal of testing the Grants Protocols product while supporting established grantees. The Alpha Round will consist of 3 separate matching pools: Open Source Software, Ethereum Infrastructure, and Climate Solutions. These rounds will be open to a subset of existing grantees with a goal to support about 300 projects in total.

    Read the post and add your feedback.

  • From Gitcoin Driven to Community Driven by Disruption Joe

    Joe writes that, while Gitcoin has defined both its 100-year purpose and essential intents, it still lacks a “holistic product vision & strategy to guide the entirety of the DAO through the transition to the grants protocol”. Joe offers definitions of Gitcoin terms, current strategy, and future strategy. The future strategy is based upon a four-quadrant model Joe has named “Gitcoin’s 4 Quadrants of Success”(see below). The main idea is that Gitcoin programs and protocols should drive the creation of community programs and projects. Joe seeks to conduct a strategy session to create a SWOT analysis that will guide leadership in making strategic decisions.


  • Is Gitcoin over its skis? should we hold spending flat while addressing unavoidable risks? by epowell101

    As a Gitcoin Steward, Evan asks, “Should we derisk and hold workstream spending flat for S16?”. He cites the following factors: we have not proven product market fit for the protocols; we have not proven our ability to deliver on time, on quality, the protocol software; we are not ‘DevReling’ successfully quite yet; macro uncertainty. He applauds MMM’s planned work on persona funnels for S16, Grants Ops working with GPC to hire Dev Rel help, and the plan by DAO Ops to grow a technical support capability. Additionally, he sees how FDD is decentralizing itself into the OpenData Community as significant.

:studio_microphone:Latest Episodes from Green Pill

  • Green Pill #60: Solarpunk vs Lunarpunk with Manu Alzuru & Rachel-Rose O’Leary. This is a three-part series about the concept of Punk. What is it, and what kind of punk best maps to Ethereum as an ecosystem? Manu Alzuru is the founder of DoinGud, a community-driven art marketplace, and he represents the Solarpunk side of Ethereum, which emphasizes sustainability. Rachel-Rose O’Leary is a coder at DarkFi, after time spent as lead tech writer for CoinDesk covering privacy tech and Ethereum. She is representing Lunarpunk, which emphasizes privacy.

  • Green Pill #61: Terrapunk with Jack Nasjaq. This is the second episode in a three-part series about the concept of Punk. Nasjaq is an author and thinker who wrote the ‘Terrapunk Manifesto,’ which explores Solarpunk with a more human-centric perspective. How can we reconcile being pro-sustainability and pro-human?

:date: Upcoming Community Events

If you have an event you’d like us to include in the Digest, reach out to @alexdw5 on Twitter or Discord.

Tuesday (11/15):

Wednesday (11/16):

  • 12p ET – DAO VIBES – our weekly open community vibes call. Happens in the Citizen Forum on Discord.

For up-to-the-minute updates on Gitcoin events, check out our Events Calendar!

:construction_worker_man:Opportunities for Builders

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