Thanks for the proposal!
I agree with @ccerv1’s on all the points (as so often). Glo seems a great team and ++ reputation, GiveDirectly is one of the best out there, on risks: indeed, all extra info is very, very welcome so an informed decision can be made here.
Really good point also about the total TVL of Glo, it is pretty low, so we cannot risk too much here wrt liquidity.
What could maybe be an alternative is diversifying a symbolic part of the Gitcoin Matching funds. This doesn’t require a DAO vote afaik, although we do vote on matching pool payouts.
In this sense it could be worth having a quick vote, as it wouldn’t be part of the core DAOs treasury’s diversification. (crf Carl’s final meta point) or it could just be a CSDO decision.
Currently the DAO holds about 900K in USDC in the matching pool funds.
Swapping 5-10% of this would be a very nice sum already, and would also be a signal to our community.
I personally believe the Grants Program should embody core web3 community values as Gitcoin’s ‘flagship program’, so this would be a step in the right direction and be practicing what we preach. By supporting Glo Dollar, we are supporting public goods simply by diversifying our own matching pool holdings.
Even if this is just 50K, it will help Glo Dollar on its mission, and Gitcoin with its vision.
Wondering if @Sov @M0nkeyFl0wer or @kyle have any thoughts on it.