We propose to set the matching funds for the Program Rounds in GG22 as follows: $1.125M total from the Gitcoin.eth multisig. This proposal is to pre-ratify the allocation of funds to expedite the process, ensuring a smooth and efficient round execution.
After the post-round review is completed, we will post the round results on the governance forum, allowing the community one week for discussion and feedback before payouts are made.
Proposed Matching Fund Allocation
The proposed matching funds of $1M will be distributed across the following OSS Program Rounds:
Web3 Infrastructure Round: $300k
dApps & Apps: $300k
Developer Tooling & Libraries: $300k
Hackathon Alumni: $100k
The proposed matching funds of $125k will be distributed across the following Community Rounds:
These amounts will be covered by funds raised prior to the round’s conclusion. Fundraising efforts are ongoing, and we encourage community participation to support these rounds.
If you or your organization would like to discuss potential partnerships or have ideas for collaboration, please feel free to reach out in the comments below or contact us directly on Telegram.
Thoughts for Discussion
Due to the market conditions, how can we best mitigate the effects of the bear market on our fundraising efforts? Are there alternative strategies or partnerships we should consider?
What more can we do to involve the community in fundraising and governance?
What measures can we take to ensure the sustainability of the matching funds for future rounds?
Proposal for Community Vote
We request the community to vote on the following options:
Yes, approve the pre-ratified matching fund amounts from the multisig for GG22, totaling $1.125M.
No, follow the traditional process of ratification after the round.
Abstain
Please share your thoughts and vote in the comments below. Your participation in this decision-making process is vital to the success of GG22 and future rounds.
Thank you for your continued support and participation in Gitcoin Grants governance.
Strong proposal for GG22! Allocating $1.125M from the Gitcoin.eth multisig ensures a solid foundation for the upcoming rounds.
Key takeaways:
$1M for OSS Program Rounds (Web3 Infrastructure, dApps & Apps, Developer Tooling & Libraries, Hackathon Alumni)
$125k for Community Rounds (BioFi Pathfinders, Ma Earth Grants, ENS Ecosystem, Allo Builders Advancement, Growing the Public Gardens, Youth in Need, Regen Citizen)
Thoughts:
Mitigating bear market effects: Consider partnerships with stablecoin issuers or exploring alternative fundraising models.
Community involvement: Host workshops, AMAs, or social media campaigns to engage potential donors.
Sustainability: Establish a diversified funding pipeline, including corporate sponsorships and individual donations.
Vote: YES, approve the pre-ratified matching fund amounts.
Additional suggestions:
Provide regular fundraising updates.
Offer incentives for community-driven fundraising initiatives.
I support this pre-ratification proposal for GG22 matching funds. By streamlining the payout process, we can ensure grantee satisfaction and avoid long wait times for round completion. This approach optimizes our team’s efficiency and allows for a smoother execution of the program.
I vote yes to approve the pre-ratified matching fund amounts from the multisig for GG22. This approval will bolster the entire grants program execution and experience.
I’m in favor of this, but explicitly calling out we will pre-ratify the AMOUNTS but not the results. The initial discussion can be found below. @MathildaDV noted the same as in this updated proposal.
We will ratify the funds, to allow for quicker payouts but still follow the same process for ratification of the results.
[UPDATE]: We will not be proceeding with this proposal and will not take it to Snapshot. After some reflection and feedback, it’s been decided that we will keep the ratification requirement for each GG round, but rather pre-ratify amounts we will distribute from gitcoin.eth ahead of the round. This will ensure that we stick to our governance procedure, while saving time after each round.
in addition to ratifying the matching pool size gitcoin ratifies the process for calculating the results (e.g everyone agrees to the rules: COCM + Passport, or QF + Allowlist, or hypotheticaloption 3)
that calculation process is completely onchain and has no offchain components
there is an easy way for funders who see the ratified process and projects in the round to add to the matching pool
this increases trust in the system, removes centralization points, and could result in more allo GMV