[Proposal] Partnership & Mutual Grant with Wonder

Summary

This proposal, if passed, would issue 100,000 GTC for governance rights equating to 2,500,000 $WONDER tokens (2.5% of total supply) when Wonder’s token is live.

The purpose of this alliance is to solidify the partnership between Gitcoin and Wonder where we can work together to enable DAOs to succeed.

Motivation

Gitcoin and Wonder are pursuing aligned missions.

Gitcoin’s mission is to build & fund the open web; Wonder is building the necessary tools to facilitate thriving projects on the open web.

Wonder’s task management system allows DAOs to intuitively organize projects, pay contributors with their native token, and onboard new members with ease.

Gitcoin, a DAO of DAOs, benefits from partnership with projects that provide the infrastructure for a nascent DAO ecosystem. Specifically, Wonder can help Gitcoin-funded projects better onboard and retain contributors, improve productivity, and increase visibility within the DAO. In addition, it would allow for:

  • Integrations that help Gitcoin source, fund, and scale more public good projects
  • Collaboration on job fairs, hackathons, and events for DAOs
  • Co-Creating tools to help the Gitcoin DAO operate more efficiently
  • Enabling Gitcoin to have a voice in the future direction of Wonder

Overall, this partnership between Gitcoin and Wonder would likely mark the first of many collaborations with projects in the ‘DAO tooling’ space.

Background on Wonder

Wonder was founded by Andros (Kernel Block 4), Adam, and 0xtocqueville to help empower builders with the tools they need to change the world for the better. We believe in an intentional approach to crafting the future of work and play.

In just over two months Wonder has launched their private alpha and grown into a community with over 11,000 members and 45,000 people on their waitlist.

Wonder has been collaborating proactively with impactful DAO partners for their alpha launch. Highlights and examples of purposeful collaborations include:

  • Helping Unchain DAO’s coordination efforts to raise $4m USD in humanitarian aid for Ukrainian civilians.
  • Onboarding and partnering with Developer DAO to establish a standard around credentialing for work/tasks in web3.
  • Onboarding and partnering with Radicle to establish best practices around streaming payments via drips.
  • Onboarding and working with Orca protocol to bring pod membership and fine-grained permissions around multisig on chain.

Specification

The passing of this proposal would transfer 100,000 GTC to 0x231F77F0c4D7a9F2E20767c7B76ae745A6c547f9, Wonder’s specified Treasury address.

On the launch of Wonder’s token, 2,500,000 $WONDER would be transferred to 0xde21F729137C5Af1b01d73aF1dC21eFfa2B8a0d6, Gitcoin’s multisig address.

In addition, upon launch, 1% of Wonder’s treasury will be used for QF rounds via Gitcoin Aqueduct, to fund projects that are on or will be started on Wonder.

Use of Funds

To ensure long term alignment, Wonder will hold no less than 50% of the tokens received through 2024 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 2024 and act as a meta-delegate in the Wonder ecosystem.

1% of Wonder’s treasury will be used for QF rounds via Gitcoin Aqueduct, to fund projects that are on or will be started on Wonder.

Benefits

  • A long term collaboration between Gitcoin and Wonder
  • Integrations of Gitcoin on Wonder’s platform
  • 2,500,000 $WONDER tokens
  • 1% of $WONDER treasury would flow back into QF PGF mechanisms

Drawbacks

100,000 GTC would be removed from the treasury.

17 Likes

Thanks for posting this Andros! Really love the potential for collaboration here and in particular the offer to give back via an aqueduct in addition to the mutual grant. Personally I think this is super interesting especially given that we’re supporting Kernel fellows in the process, though I will leave it to stewards to decide. One requirement though before we move forward, is the code open source?

Would love other thoughts here as well cc @annika @vgk

7 Likes

Early and current user of both Wonder and Gitcoin here. This proposal is very exciting. Wonder is able to ship DAO tools fast as their current web app shows. Gitcoin is an established presence in public goods funding and bounties for web3 projects. The synergies here are clear.

The terms are centered around long-term alignment which will certainly lead to interesting outgrowths around infrastructure to support DAO contributors and public goods projects.

4 Likes

big fan of this. no brainer. Beyond the obvious relationship that can be formed bw a grants program and a project management platform, it’s worth mentioning that Wonder’s work graph might serve as stronger sybil resistance for QF.

3 Likes

Is there demo / repo I could checkout out to see what the project offers / future scope!
We do lack an effective mgmt solution for paying folks within a workstream and having a tool like wonder solve that would be <3

2 Likes

Here are some of the demo videos we have!

Also our manifesto can be found here :slight_smile:

3 Likes

Initial thoughts
Took a look at the site, like the idea of task management enabled on Web3

Questions/ Thoughts

  1. What would governance look like? This partnership is essentially us taking part in Wonder’s governance but that isn’t clear. This means that we will be taking on responsibilities without clarity. What’s explained is that there’ll be ‘spartan council’ style governance but who’s gonna be on the council/threshold to be on the council?
  2. Why didn’t you approach this from a grants perspective instead? Initiating a token swap is more complex and Gitcoin could also write proposals on Wonder’s eventual discourse too
  3. Wonder’s treasury has ~260k USD (15k USDC, 200k in AAVE?), the ask is 100k GTC which is at least 500k USD in value, essentially tripling Wonder’s current treasury. also, 500k USD would now be 2.5% of the mcap, thereby making Wonder’s new token mcap to be 200M. That’s quite a fair bit!

Hope to hear some responses please! Thank you for the proposal

7 Likes

Thanks for the response and the thoughts!

  1. As mentioned we’d like to take the approach outlined by Index Coop and Synthetix where token holders get to vote who is on the council or leaders with their pods. These will likely be people in our community and core team.
  2. Token swaps ensure more aligned interests in our opinion and we want to work with Gitcoin on our governance structure as well!
  3. I think the token market cap would be 24M (2.5% excluding the 1% aqueduct) if I’m not mistaken. We actually have more funds in fiat - that is just our crypto treasury for now. Some more info here :slight_smile:
5 Likes

After reading in detail here I am fully supportive of this partnership.

Wonder has a great potential to not only expand the Gitcoin DAO ecosystem but also provide support to our DAO Toolings and work together with some of the DAO initiatives, such as dCompass, to co-build.

5 Likes

Agree with @Fishbiscuit’s comments that it would be good to have more detail on what that governance process could be like, potentially before we engage in this tokenswap.

Because this is a tokenswap, the questions raised here by @monet-supply might also be worth looking into and responding to, setting up a vesting contract seems like a good idea.

I will probably abstain from voting because I am not sure Gitcoin is actually a ‘DAO of DAOs’ or should be one. It is good to bring diversity in our treasury but would prefer we pass more tokenswaps only after we have a full-time treasury manager onboard. (work in progress)

3 Likes

Hey @andros & Wonder team - thank you for the proposal and very excited to see Kernel fellows making great strides in the ecosystem and continuing the flow of collaboration with Gitcoin!

What’s been achieved by the team so far is telling and I absolutely see the alignment between GD and Wonder. I would suggest and support a slightly lower allocation of 50,000 GTC to begin with. This is mainly because I do believe us taking the time to flesh out our policies for 100k+ mutual grants is important. It is a key piece in strategy moving forward as I feel it ensures the right flow for diversification and cross DAO collaboration.

Should this level work, I would happily see this moving forward.

4 Likes

@krrisis thanks for the thoughts and comments! We talked a little on our governance plans above but would love to also fine-tune that as part of our partnership with Gitcoin. As for the vesting contracts we’ll hopefully be able to work with @maerg and PrimeDAO on this :slight_smile:

@Pop that totally makes sense and would work for us as well if we lower the Wonder allocation amount to 1.5M $WONDER tokens (1.5% of total supply)! Excited to move forward with it :sparkles:

3 Likes

Is there a person on both sides who plans on taking the role of “meta-delegate” in each ecosystem?

2 Likes

I’d be glad to take that role on our side!

Happy to take that on from GD side but would also invite other stewards to put themselves forward and maybe we do a signal “vote” via likes in this forum (or more formal via actual vote and it’s part of the full proposal…)

2 Likes

First, congratulations for Wonder team on the project and I hope you a lot of success. DAO toolings are definitely super needed and I hope we can see more of them in the future.

Having said that, here are some weird red flags for me:

:cn: You are asking $800k dollars to be invested in a token that doesn’t exist yet. We have no way to properly know how to define the market price of such token and I don’t think Gitcoin should be in such early stages of buying pre-market tokens. I’m sure there’s a white paper somewhere that defines how the token governance will work, but until you have it live on main net, these are no guarantees

:vietnam: The project page has no links to the working app. In fact the only two links on the project page are one asking my phone number to be on the “waitlist” and another to join the discord. Why are you collecting phone numbers and not addresses? Are doing some analytics on phone numbers? I have bad associations with phone numbers and crypto projects: they remind me of stolen SIM cards, 2fa hacks, phone spams, country blocking etc. I find that GitHub and twitter should be much better tools for sybil protection.

:tr: It seems you have a private beta. I’ve even seen some videos on YouTube of a working product. But I am extremely skeptical of projects that I haven’t used, as there are tons of little details that make or break the experience. The fact that the project seems huge and complicated doesn’t help my fears. I work for ENS DAO and was recently considering using Colony as a tool for our working groups: instead of asking the DAO to put money, I set up my own colony, with my own funds and started paying people out of it. My experience was a bit turn off and I had to shut down the project and will wait a few more months before judging if it’s a good tool for ENS. Same here: I don’t know if Wonder is a good tool for Gitcoin and believe we should test before committing such large amounts of money.

:morocco: No GitHub. Where’s the project? Sure, maybe you want to have a limited amount of users in your private beta not to overload your servers with early success. But why can’t I fork and run it on my own? Are you afraid someone will steal your ideas (:samoa::denmark::switzerland:!)?

So in short:

  • If this is an investment proposal, I don’t believe Gitcoin is an early stage investment firm and we don’t have the tools to judge the investment potential of pre-launch tokens.
  • If this is a collaboration proposal, I don’t see how we can commit to use your tools if they are not accessible for everyone to use
  • If this is about supporting DAO toolings, then I don’t see any evidence that your code is open source which would be a requirement for me.
4 Likes

I’d like to fully support this. First, I agree with all of @AvsA and @Fishbiscuit comments above. I think it does require more answers before I’m ready to support.

Decentralizing our treasury, or risk, should be done with a portfolio mentality and this proposal doesn’t take that into account.

I’d like to know how much of the treasury we are supposed to spend on this tool we have not used. Why is that allocation the proper allocation for our treasury diversification plans? Why does Gitcoin want governance responsibility for Wonder?

Hey @AvsA ,

Great questions, let’s get those red flags cleared up!

:brazil: Our Github repo can be found here. We’re in the process of doing a security audit for our backend to be open-sourced!

:mauritania: As @Pop pointed out we’d love to change the proposal to 50k GTC in exchange for 1.5% of our treasury (as well as 1% to Aqueduct). We’re actually not interested in $ but forming a long term collaboration as our missions of helping public good projects make for a perfect collaboration.

:dominica: Forgive us, our landing page is 6 months old. Phone numbers were also the way that we thought gave us the best sybil resistance since we didn’t want people to enter their emails. Twitter would have been better! We’re in the process of updating our landing page right now to be more reflective of what we do.

:cocos_islands: Our long term vision is to be an open platform where anyone can launch a project, but we’re in private alpha because we want to be intentional about the partners that we work with initially and provide more dedicated support. We actually created a workspace for members of the Gitcoin core team who have seen/used the product and gave their stamp of approval. In addition, Gitcoin-related/funded projects such as Developer DAO, Unchained DAO, and Orca are currently using the platform.

We would love to hop on a call with you or the whole community to show/use the product and answer more questions.

P.S maybe wouldn’t represent people’s countries’ flags as a negative :slight_smile:

@DisruptionJoe if you have any further questions please feel free to let us know!

EDIT: we now have an updated website here :sparkles:

4 Likes

Based on my conversations with people from Kernel and our team, I am satisfied with the answers given.

I am still making up my mind, but leaning towards support. I’d like to see projects go from Hackathons, to grants, to kernel, to partners. This is an exciting opportunity.

The aqueduct will set a great precedent as well. While I am still unsure if we should be investing in early stage products AND I have reservations around not having any sort of comparison to the overall budget and treasury of the DAO, I am hesitantly supportive at this point.

1 Like

Thanks for clearing that up. I liked the green flag detail, but you’re right about the negative connotation of the word “red flag”, it’s an interesting point.

I would personally prefer to see gitcoin invest in products that we can test ourselves and to buy tokens that can be independently valued by the market. But it seems that those who have actually seen the product and have some way to evaluate the value of the promised tokens are more excited, which is definitely a good sign.

2 Likes