This proposal, if passed, would issue 50,000 GTC for governance rights equating to 5% of Developer DAO when governance is live. The purpose of this alliance is to help ensure that Gitcoin and Developer DAO can work together to coordinate bringing more web2 developers into web3 than ever before through education and events, as well as supporting the creation and distribution of public goods.
Gitcoin’s mission is to build & fund the open web.
For the open web to continue to grow and realize its potential, we need spaces where existing builders are supported to learn and contribute and new audiences of builders are inspired to take on the challenges and opportunities of web3.
Gitcoin is one such space where developers learn and earn. As a DAO of DAOs, it can also support new organizations in ways that help the web3 space on the whole. We’ve been heartened to see this already happening with its support of CLR Fund for the purpose of quadratic funding client diversity.
What is Developer DAO?
Developer DAO was started by me (Nader Dabit). In just over two months we have grown to 5436 members, mostly experienced builders taking their first steps into the open web.
Our goals are to onboard, educate and support these new builders to foster & build web3 tools and public goods. These ambitions resonate well with projects and workstreams Gitcoin has previously supported such as Moonshot Collective, and we have already found some great ways to collaborate on a smaller scale.
We see this relationship complementing Gitcoin in the following ways:
- Enabling Gitcoin to have a voice in the future direction of Developer DAO via 5% allocation of their governance token into the Gitcoin Treasury
- Strengthening ties between and improve the shared bandwidth of Gitcoin and Developer DAO teams (Moonshot Coordinator, Austin Griffith, Nader Dabit, Cooper Turley, Preethi Kasireddy, kempsterrrr)
- Collaborating on educational initiatives including workshops, events and hackathons with Austrin Griffith and the Moonshot Collective workstream, to further the reach and impact of Gitcoin’s public goods mission (building for human thriving)
- Co-creating prototypes between Moonshot + Developer DAO that play well with the Loot ecosystem vibes / memes
The passing of this proposal would transfer 50,000 GTC to 0x7128f5ff32eD07Ce12E6a9deBE32BB40F9884b3C, Developer DAO’s specified Treasury address.
On the launch of Developer DAO’s governance token, a 5% allocation would be transferred to 0xde21F729137C5Af1b01d73aF1dC21eFfa2B8a0d6, Gitcoin’s multisig address for easier delegation / voting.
Use of Funds
To ensure long term alignment, Developer DAO will hold no less than 50% of the tokens received through 2023 and act as a meta-delegate in the Gitcoin ecosystem.
To ensure long term alignment, Gitcoin will hold no less than 50% of the tokens received through 2023 and act as a meta-delegate in the Developer DAO ecosystem.
See “Motivation” section above
50,000 GTC would be removed from the treasury.