Public Goods Funding Proposal for Seasons 18-19
This is a funding proposal for Public Goods Funding (PGF) during Seasons 18 and 19, a period from May 1st, 2023, to October 31, 2023, co-authored by @maxwell, @m0nkeyfl0wer, and @connor. It provides a foundation for PGF’s strategic initiatives.
The financial request outlined has undergone evaluation by CSDO and stewards. That feedback integrated in, along with positive endorsement of the validity of the PGF budget request which we hope the community agrees with.
In the upcoming integrated Seasons 18 and 19, Public Goods Funding (PGF) has outlined a plan aimed at achieving a series of key outcomes to contribute to the DAO’s sustained growth and success. The strategy encompasses various aspects, ranging from fundraising and operations to business development and stakeholder engagement.
- Operate Gitcoin Grants Program rounds with Core and Featured Rounds.
- Driving towards 13 Quadratic Funding (QF) rounds, 5 Quadratic Voting (QV) instances, and 5 direct grants programs. And achieve a total Gross Marketplace Value (GMV) of $10 million.
- Enrich grantee pipeline to bolster Gitcoin’s reputation as an early predictor of web3 success.
- Generate income through services model and Aqueducts.
- Formulate and execute a plan to expand self-serve adoption of Grants Stack.
- Support Passport workstream with business development to facilitate their six-month objectives: 1 million Passports, 5x integrations, and earn at least $1.
- Work with the Allo workstream to funnel qualified leads for custom development atop the Allo.
PGF Organizational Structure Updates:
Throughout Season 17, PGF has prioritized efficient execution and displayed exceptional performance. It also is important to acknowledge recent leadership changes: Janine’s departure to focus on Zuzalu, Scott’s transition to Public Works for more strategic work with the foundation, and Annika transitioning to a new role at Eco Association. Ben West, Connor O’Day, and Azeem Khan have stepped up as co-leaders of PGF.
Azeem spearheads the partnerships and business development initiatives for the Gitcoin Grants Program, Grants Stack/Allo Protocol, and Passport. Ben manages the quarterly Grants Program, ensuring its seamless execution. Connor drives growth by collaborating with ecosystem partners to deploy featured rounds in the Program and independent rounds on customized timelines. All three co-leads contribute to partnership fundraising, relationship management, and overarching strategic planning and management of the workstream. The collaboration of this team amplifies efficiency and fosters synergies through comprehensive relationship management, bolstering growth and business development for team members across workstreams.
As we transition into Season 18, we are confident in PGF’s position and eagerly anticipate the opportunities that lie ahead. For more information about S17 goals and achievement, visit this public document here.
Public Goods Funding Budget Request for Seasons 18-19:
Public Goods Funding (PGF) is submitting a budget request for Seasons 18 and 19, seeking an allocation of 773,125 GTC, which equates to $1,237,000 USD based on the current GTC-USD exchange rate of 1.60 USD per GTC. This financial request is exclusive of reserves and amounts carried over from previous periods.
|Gitcoin Season||Season 15||Season 16||Season 17||Season 18||Season 19|
A comprehensive breakdown of the Public Goods Funding (PGF) budget request for Seasons 18 and 19 is provided at the conclusion of this report.
Please note that the GTC amount requested and the value of reserves will be subject to adjustment based on the prevailing market value at the time this proposal is moved to Tally. The lower of the current price or the 20-day moving average will be utilized to determine the final figures.
PGF has devised a two-step release strategy for the requested funds. Although the funding request will be made through a single Snapshot vote, the actual disbursement of funds will be divided into two Tally votes – one at the commencement of each season. This approach ensures enhanced accountability and mitigates potential risks associated with price fluctuations.
** This section highlights the variance between the requested budget and the actual expenditure, excluding reserves.
Outcomes, Projects, and Milestones:
- Aligning with the DAO-wide objectives of achieving 13-5-5 and a $10 million GMV by October 2023.
- Successfully run Program distribution at least $2m total per round.
- Support business development for Allo, Grants Stack, and Passport to achieve six month goals of each product.
- Generate income running Featured Rounds.
- Establish Annual Recurring Revenue (ARR) through Aqueducts
See longer strategy document here.
Members actively support each other as we deploy a train the trainer model.
|Successfully running Gitcoin Program||High||Gitcoin Program||Distribute at least $2m per grants round between funders and donors.
Build key infrastructure for the scalable growth of the grants program and to enable smooth operations of featured and independent grants rounds via runbooks, guides, templates and other assets \ \ “Smooth operation” will be interpreted to mean a shrinking number of support tickets related to eligibility decisions or other operational factors.
|Grants Round Operators Guild Operational||High||Gitcoin Program||Grants Round Operators Guild fully resourced with runbooks, guides and other assets.
|October 31st, 2023|
|Charge 3% fees for Featured Rounds in the Program and earn at least $1||High||Gitcoin Program||Earning at least $15,000 in S18+S19||October 31st, 2023|
|Onboard 25 grants programs to using Grants Stack||High||Business Development for Allo/Grants Stack||Successfully onboard 25 across QF, QV, DG.||October 31st, 2023|
|Assist Allo partners on boarding||High||Business Development for Allo/Grants Stack||Support 5 projects for Allo delivery||October 31st, 2023|
|Established ARR||High||Recurring Funding||$100,000 ARR by end of Season 19||October 31st, 2023|
|Close at least one prominent non-profit foundations, Fortune 2000, and/or government entity||High||Gitcoin Program||At least $50,000 from a major organization to fund the Program||October 31st, 2023|
|Support business development for Passport||High||Business Development for Passport||5x Passports to 1 million created and custom implementation with high profile partner.||October 31st, 2023|
Breakdown staffing, contracting, operational expenses
|Core Contributors (FT)||PGF Co-Lead - Connor - Growth
PGF Co-Lead - Azeem - Partnerships
PGF Co-Lead - Ben West - Program
Ecosystem Development Manager - Juanna
Partnerships and PGF Operations - Maxwell
Grants Operations Manager - Kieran
Grants & Data Research - Umar
Data & Program Reputation Lead - Alex
Allo Stack Sales Lead TBD
Senior BD TBD
Additional hire accounting for key growth (i.e., Services Lead) - TBD
Janine tentative return FT
|Trusted Contributors (PT)||Grants Support - Coleen
Grants Support - Jon R.
Grants Strategy - Sov Administrative Assistant - Lyl
|Operational Expenses||Travel Fund||$90,000||8%|
|Discretionary Funds for Retroactive Rewards for Program Contributors and Eligibility Review Support||60,000||5%|
Total request including reserves & budget rollover
|Total [Workstream] Budgeted Spend S18-S19||$1,237,000|
|60 Day Reserves||$412,333|
|S17 Treasury Balance, incl unspent reserves and any source of revenue*||$500,000 (accounting for April payments, currently around $679,000)|
|Total S18-19 Request||$1,149,333|
* Any and all revenue generated during the past season will flow back to the DAO treasury or will be rolled over to the next season.
* During the season we will transparently report to CSDO and Stewards on revenue plus efforts to remediate currency fluctuations and report on these in the next budget request. *
We look forward to your comments, thanks for your consideration!