GitcoinDAO Digest #22 2022

👋 News and Community
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Last chance to donate to your favorite grants for GR14! The round ends June 23rd. :rocket:

:email: If you would like to receive this newsletter in your inbox, sign up here!

:point_right: Key actions for this week:

  1. Vote on Snapshot to ratify foundation and governance process updates and begin a Gitcoin // Radicle public goods alliance.
  2. Donate to your favorite grant before the round ends!
  3. Psst hey, did you know that all grant disputes and appeals are public and that you can flag any suspicious grant while you’re looking for the best public goods to fund? Here’s how you do it

:fire: Hot Topics:

  • Owocki announces he is Passing the Torch as Gitcoin Holdings transfers assets to Gitcoin Foundation and disaffiliates from the DAO. There have been over 119 threads authored by Owocki on the governance forum to help share his context. Now, he hopes this departure will help the DAO focus on “creating a culture where its members always seek to decentralize power, and avoid entrenching leadership.” In parting, Owocki shares: “Gitcoin has been my baby for almost 5 years now, many ups & downs, and it is very bittersweet to see it growing up and ‘leaving the house.’”

  • Bear Market Vibes from Kyle calls out that the DAO’s impact matters and there is a need to ensure “we have the capital on hand to weather a global economic downturn.” With Season 15 around the corner (~ 6 weeks), the DAO needs to reduce our costs, diversify our treasury, and explore new strategies. These could include “increasing depth of liquidity, increase volume of trades, increasing utility of GTC and exploring some passive yield generation opportunities.”

  • Shreyas shares a Gitcoin Treasury Diversification Update proposing “moving $15 million of GTC (~4.6m GTC at time of writing) to a multisig wallet.” If approved, $3M of this amount would be swapped into USDC by an agency desk while strategic partners are confirmed for swapping the remaining $12M.

  • GTC will be entered into the upcoming C.o.R.E 4 by Tokemak, shares Schlabach from Llamas. Collateralization of Reactors Event (C.o.R.E) is a competition to win a token reactor that would “generate deep, sustainable liquidity for DeFi and future tokenized applications.”

  • DisruptionJoe shares that Airdrop Farming is “the act of donating with the intention of getting an airdrop, not for the intention of signaling support for that public good in a QF round.” Individuals who have made multiple accounts to airdrop farm are engaging in Sybil behavior and will be squelched to prevent the accounts from affecting matching fund distribution.

  • There is a lively discussion happening around compensation commitment within the DAO. The conversation focuses on whether the DAO should be paying high US salary rates, the current market, and the importance of salary transparency.

  • Listen to the latest episodes from Kevin Owocki’s Green Pill podcast!

:ballot_box: GitcoinDAO Governance Overview:

Snapshot polls GTC Holders and Tally performs on-chain actions. Proposals that have on-chain steps, such as budget requests, move on to Tally after being ratified on Snapshot.

Proposal Discussions Active Proposals Latest completed proposals
Upgrading the Gitcoin Governance Contracts Tally: Proposal for FDD Season 14 Budget Succeeded
Improve GTC Liquidity with Tokemak Snapshot: Gitcoin // Radicle Public Goods Alliance Passed
Carbon Neutral Policy at Gitcoin Snapshot: Ratify Foundation changes, DAO gov updates and asset transfer Passed
Compensation Commitment
Gitcoin Treasury Diversification Update

:man_mage::woman_mage: Workstream Discussion

:seedling: Public Goods Funding

  • The turnout for GR14 has blown us away! In the midst of a hungry bear market, our contributors have shown up. GR14 has raised over $500k in the same amount of time as GR13 raised $200k. Regens unite!

  • We’re making sure we close out GR14 strong in the next few days and keep things running smoothly. In the meantime, we’ve already started fundraising for GR15 by forging community partnerships for raising matching funds.

  • Come find out more about public goods at our live events next week!

:rocket: Moonshot Collective

  • Gitcoin Passport: In collaboration with the Grants 2.0 workstream, we’ve been super busy responding to the feedback we’ve been getting from launching our alpha product in GR14! We’re making upgrades to our Ceramic infrastructure to support the heavy network traffic.

  • Governance Operations Scaling: We’ve drafted an initial, prioritized problem statement and proposed solutions. Now, we’re making sure this is in alignment with the perspectives of our DAO stewards.

:blue_heart: Fraud Detection & Defense (FDD)

  • Community Intelligence: Our data scientists and analysts are working to find an optimal trust bonus weighting, looking into other Grants 2.0 protocol-based scoring models, and following up on our Airdrop Farming commitment.

  • Grants Intelligence Agency: We review thousands of grants each season to ensure the community’s intentions are served. Here’s a look at the process we use to review grants for eligibility before handing them off to the Grants Operations team to review the tags.

  • Data Operations: Our Sybil Account Detection (SAD) model has been running every 12-24 hours throughout GR14 to improve the user experience. At this point in the round, we begin to add data from the Sybil hunters to adjust to new information.

  • Operating System: Our workflow now includes two important meetings: Mondays at 5 pm is our weekly update which is open to anyone who wants to know what is happening in FDD. On Thursdays, our outcome owners (core) and trusted contributors participate in a process & decision-making meeting. The rest of the week is async with multiple work-in-public sessions. Check out our great Work Async Improvement Checklist by Tigress

:art: Merch, Memes & Marketing

  • We’ve been spreading the word about GR14 and our efforts are paying off! We’re so excited for what our network of regens can accomplish together. This week’s accomplishments include:

    • Having our second biggest day on Twitter EVER! (First was launching our token!)
    • Seeing our website traffic increase by around 50% compared to GR13!

  • We’re kicking off an effort to develop a primer for the upcoming Grants 2.0 to help with awareness and education around how Gitcoin is set out to decentralize and level up our Grants protocol

  • June 23rd at 7 pm UTC: Join us live in our discord for Fundapalooza! We’ll be closing out GR14 with a fundraiser and celebration! :tada:

:sunny: DAO Operations

  • CSDO: We’re upgrading our CSDO calls to enable more work and deeper discussion to happen async. On this week’s call, we discussed ratifying updates to our DAO purpose and essential intents, the need to educate our community about Sybil airdrop farming, and guidance on paying contributors in the bear market.

  • GR14 is keeping our user support team busy and we are closing out tickets as fast as we can. Most tickets are requesting help with the new Gitcoin passport, missing contributions, and log-in errors.

:hammer_and_wrench: Grants 2.0

  • Gitcoin Passport: On the first day of GR14 we received over 1000 passport sign-ups! On the second day of GR14, our ceramic infrastructure felt the weight of that traffic. In collaboration with the Moonshot Collective, we are stabilizing our infrastructure to support the heavy user inflow and ensure uptime.

  • Grants Hub: We’re excited to announce we are 100% dev-complete with our MVP! In the next couple of weeks, we’ll be getting production-ready to meet our July 1st deadline.

  • Round Manager/Explorer: Check out our first demo! While building this steelthread, the team has also been hard at work defining milestones and subtasks for building out our first MVP by July 5th.

  • Find more details in our weekly update thread.

:date: Upcoming community events

:wave: New to GitcoinDAO?

Thanks for reading! Now go donate to your favorite grants!

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