GitcoinDAO Digest #25 2022

Make your voice heard on this week’s key votes!

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:point_right: Key actions for this week:

  1. Vote on a $3 million treasury diversification and GR14 matching fund results!
  2. No one has cracked our noisy code on the last page of the GitcoinDAO Year-in-Review. Will you be the one to string together the right pieces and claim the 200 GTC + $100 Merch reward? Hint: ASCII and ye’ shall receive! :eyes:

:fire: Hot Topics:

  • Llama’s Stastny and SamB share a Gitcoin Treasury Runway Analysis, assuming current spending continues at a steady rate:

    • “No Treasury Diversification
      • 9.3 years of runway if token price remains flat
      • 4.7 years of runway if token price falls 50%
      • 0.9 years of runway if token price falls 90%
    • $3m Treasury Diversification
      • 9.3 years of runway if token price remains flat
      • 4.8 years of runway if token price falls 50%
      • 1.1 years of runway if token price falls 90%
    • $15m Treasury Diversification
      • 8.9 years of runway if token price remains flat
      • 5.0 years of runway if token price falls 50%
      • 1.8 years of runway if token price falls 90%”
  • Simona Pop makes a proposal to spin up a Schelling Point Event Workstream “as a self-funding workstream “lite.”” Their goal would be to: “have two SP events a year, one just before ETHDenver and the second around Devcon” and “also run unconference/POP UP style activations.” Simona would serve as the single permanent member of this workstream and pull in contributors from other workstreams as needed.

  • Owocki announced further steps to decentralize Gitcoin Holdings work within GitcoinDAO and the renaming of Holdings to ‘’ One of the biggest parts of this will be moving the Gitcoin Product Collective who are building Grants 2.0 into the DAO as a workstream.

  • Elliot from Llamas shares a June Financial Report showing contributor rewards are up 76% from last month and attributes it to timing differences among workstreams. In addition, “Total Gitcoin treasury balance has decreased slightly from May, as a result of GTC token price depreciation.”

: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.

:man_mage::woman_mage: Workstream Discussion

:seedling: Public Goods Funding

  • We conducted our GR14 retro (Miro Board, Notes) and identified key areas we want to improve for GR15. To help us scale, grant owners and reviewers should be provided clearer eligibility critera. Internally, we want better deadlines for each step of the round process: partner engagement, grantee onboarding, and crowdfunding.

  • The hype for GR15 is already building! We’re locking down commitments with our partners, including drumroll please Aragon and Loot!

  • We rolled out new tooling for Customer Relationship Management (CRM) in Hubspot and are developing fresh documentation.

:rocket: Moonshot Collective

  • Governance Operations Scaling: Check out our demo for a prototype of what a new governance platform could look like that enables richer, deeper information flows. In this prototype, we’re showing how enabling voting on multiple options and discourse integration could rocket us forward into a world of greater choice and discussion.

  • Operations: We’re protecting ourselves against volatile market conditions by diversifying our treasury into stablecoins. Over 25% of our treasury is now held in DAI.

:blue_heart: Fraud Detection & Defense (FDD)

  • GR14 Governance Brief:
    • Sybil Detection: We saw a significant increase in Sybil Attacks this round, likely due to airdrop farming, from ~14.1% in GR13 to ~22.1% in GR14. After flagging 16,073 possible Sybils, we narrowed this down to 9,916 likely Sybils and squelched their ability to direct matching funds thereby saving an estimated $879k in Fraud Tax.
    • Grants Eligibility: We completed approximately 3,000 reviews of 1,100 grants while reducing our average review cost by 39%. While doing this, we also implemented a new process whereby we review our reviewers to ensure their work is as precise, accurate, and high-quality as possible. From the outset, we announced that high-scoring reviewers could earn a bonus. The results of this process saved an estimated $80,000 in matching funds and cost the DAO $10,260.
    • Policy Recommendations: We believe there a number of areas which could benefit from clearer definitions. For example, while we are against outright airdrop farming, we have thus far allowed POAPs, and documenting a clear policy on Quid Pro Quo could make grant reviews easier in future rounds. We should also consider decoupling eligibility in the main grants round from eligibility in side rounds, to prevent any further situations where a side round owner request a grant be admitted that was not eligible for the main round.

:art: Merch, Memes & Marketing

  • We completed our Gitcoin Technical SEO Audit to identify how we can improve our sitemap to show up stronger on Google. Our next steps will be to remove the ‘issues’ subfolder from our sitemap and clean up the identified dead links.

  • We’ve been developing an internal knowledgebase to streamline our operations and onboarding. We’re aiming for a soft launch of our new Notion area by the end of the week.

:sunny: DAO Operations

  • CSDO: At this week’s CSDO, we’re keeping our eye on Season 15 (starts August 1st) and setting an intention to plan for it. We’re also adjusting to the finalization of Asset Transfers from Gitcoin Holdings to the Gitcoin Foundation. With that, we’re preparing contracts for contributors to sign to provide them legal protection and ensure the DAO holds on to any and all of it’s IP.

  • DAO Tooling: We’re sharing a list of currently used tools within GitcoinDAO, and performing a review of tool-owners and tool-cost.

:hammer_and_wrench: Grants 2.0

  • Grants Hub: We’re focused on engineering and finalizing our path to production for Phase 1 (MVP). At the same time, we’re working on high-fidelity mock-ups and mobile designs for Phase 2 (Anchor).

  • Round Manager: We created the ability to deploy a round with an application, as well as building out core UI components. Now you can deploy an application with all questions required, but the next iterations will focus on making questions optional and providing the ability to remove questions.

:date: Upcoming community events

  • Drop in on our weekly DAO Vibes on Wednesdays at 4:00 PM UTC on Discord! We have been seeing great attendance and engagement and we would love for you to join us.

:wave: New to GitcoinDAO?

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It sure seems like this is a very good option!