Name (or Topic/Theme) of Proposed Round
Glo Dollar x Glo Growth Alliance
How many times has this round been run during a Gitcoin Grants round?
0 times
We did just conclude our first independent round together with Arbitrum DAO which attracted 50 projects and 411 donors contributing $6427 across 2868 donations.
How big is your team that will run this round? Who is your team?
Three:
- Garm Lucassen, CTO of Glo Dollar, responsible for setting up the round, reviewing the projects and coordinating all technical aspects.
- Bram Voets, Head of Growth of Glo Dollar, responsible for all communications and marketing related to this round, as well as reviewing projects.
- Marcia Blacken, Head of Operations of Glo Dollar, responsible for supporting projects in their success in the round and helping donors in supporting their favorite projects, as well as reviewing projects.
We have three other members on the Glo Dollar team, for a total of six. Our Twitter handle is @glodollar.
How does this round align with Gitcoin’s mission and essential intents?
Glo Dollar is upgrading its platform to allow holders to vote on which charities and public goods to fund. After the upgrade, Glo Dollar is entirely aligned with Gitcoin’s mission to fund what matters because Glo Dollar holders can fund the things they care about. Our work-in-progress new homepage even borrows “Fund what matters”.
This round seeks to encourage as many web3 organizations as possible to integrate Glo Dollar in their protocol and/or their treasury holdings, and to select a cause to fund using our dApp. One of the selectable causes will be (crypto) open source software. Consequently, this round aligns with every single one of Gitcoin’s essential intents:
- Financial longevity: Glo Dollar holders can choose to fund (crypto) open source software in our dApp, part of which can flow to Gitcoin. On a higher level, Glo Dollar seeks to provide financial longevity for the entire crypto ecosystem.
- Community first: we are rallying a community around choosing a different stablecoin to create positive change in the world and seek to educate people on what they can do to maximize their impact. Pointing our community to Gitcoin and encouraging them to participate is an important aspect of this.
- Network effects: this round leverages Gitcoin’s platform and network to grow the Glo Dollar ecosystem. In our previous Gitcoin round, we successfully onboarded 8 organizations that had not previously engaged in fundraising through Gitcoin. The majority of these organizations will also participate in the upcoming round, and we’re actively seeking to bring onboard over 10 new organizations to the Gitcoin ecosystem once again.
What do you anticipate the size of the matching pool will be (either fundraised from partners, raised independently through your connections, or a combination of both)?
25 000 Glo Dollar split between our own operational funds and contributions by Glo Consortium members and other partners: tentatively called the Glo Growth Alliance. Note that the Glo Dollar token is already supported for distributing funds on Gitcoin on Arbitrum, Optimism and Polygon.
Funding will be collected on 0x525ff9c36f2e8328A5Ee4B746cE9c098405c947E
Who will be advisors for this round, if anyone?
No advisors consulted so far, although the Glo Dollar team is in touch with a few members of the Gitcoin core team.
Please describe the eligibility criteria you envision for this proposed round.
- Projects must integrate Glo Dollar in their platform and/or hold at least 10% of their treasury in Glo Dollar.
- Projects must detail how they plan to embed philanthropy in their organization.
- Projects must be at least 2 months old and have made substantial progress towards their stated goals, ideally a working MVP is available to the public.
- Projects must have a verified Twitter account.
How large is your community approximately?
Glo Dollar’s core community is ~3500 members. Through its larger network of Glo Consortium members that embed philanthropy in their organization, Glo Dollar reaches upwards of 250k individuals.
What type of projects would you like to fund?
We want to prioritize protocols and platforms that can integrate Glo Dollar into their product.
We would also like to fund DAOs that choose to embed philanthropy in their organization by holding a substantial amount of their treasury in Glo Dollars.
Approximately how many grantees do you believe will be eligible to apply to this round?
100. In our recent independent round 50 projects participated in a $10k Glo Dollar round, with this larger matching pool we anticipate we’ll be able to double this amount.
Impact Assessment: If and how do you intend to assess grantee impact over successive rounds? This could include, but is not limited to Hypercerts, GAP, Deresy, etc.
We are not (yet) planning to use hypercerts for round participants. We will, however, verify whether grantees did indeed integrate Glo Dollar in their protocols and/or in their treasury after the round concludes. We will measure their monetary impact in raising funds for charities by embedding philanthropy, and will communicate this publicly to our community and the grantees.
Is there anything else that community members should consider when voting for which rounds to focus on in the upcoming GG20 grants round?
In case you missed it, Glo Dollar is in the midst of an upgrade towards funding holder-voted charities and public goods, rather than exclusively funding initiatives that end extreme poverty. Check out our updated website on glodollar.org!
