[S15 Proposal - DRAFT] - Moonshot Collective Budget Request

Moonshot Collective Season 15 Budget Request

Essential Intents:

For Season 15 Moonshot Collective (MC) will focus on adding value to Gitcoin DAO through product innovation and experimentation to the following Essential Intents (EI):

  • Protocol Adoption (Passport + Grants)
  • Financial Sustainability (GTC Utility)

TL;DR

The newly defined Purpose & Essential Intents (EI) of GitcoinDAO enabled the Moonshot Collective (MC) to focus on initiatives that advanced those EIs in Season 14. This budget request is to fund the MC community (2 lean teams of 1 PM & 2 devs) to be the first to build on the Grants & Passport protocols. We plan to build composable modules that are valuable to those protocols and its design partners. These composable modules were identified as the most valuable through a collaboration w/ the Gitcoin Product Collective (GPC) workstream.

Overall, the impact/value of our work will help ensure the protocols are approachable, drive adoption of the protocols and increase financial sustainability through increasing GTC Utility.

Amount

MC is requesting $406,254 to fund our workstream and its initiatives for season 15. This includes 3 new salaries from holdings, but still is a 10% decrease vs. our S14 requested budget of $450,254. This is a net new request of $260,353 from the treasury.

The GTC total will be adjusted based on the current market value at the time this proposal is moved to Tally. The vote will be to send the requested $USD amount in GTC at the lower of the current price or the 20 day moving average, whichever is lower.

Season 14 Milestone Report

MC Treasury + Spend Update

USD GTC DAI
Season 14 projected spend $450,254 81,864 -
Season 14 actual spend $367,007 132,012 -
Funds remaining in Multisig* $346,901* 51,028 209,220

*Notes a conversion based on the price of GTC on 08/02, and will update using the lesser of spot price or 20 day moving average when proposing budget on chain.

Season 14 Notable Accomplishments

Initiative/Dept Objectives Past Season Value Delivered
Optimism Partnership
  • Build trust with Optimism stakeholders to build strong + lasting partnership
  • Deliver products to Optimism that enable successful Retroactive Public Goods Funding (RPGF) experimentation
  • Enable Optimism to be a first user of the Grants Protocol
  • Gathered requirements needed for RPGF and built the key products that will be used to run their upcoming RPGF round (RPGF2)
  • Partnered with Grants protocol team to create a solution for RPGF2.
  • Optimism became an early adopter of the grants protocol and is a key design partner going forward
Passport + Grants Core Protocol Work
  • Mobilize talent to work on the highest value add items as it relates to our Essential Intents
  • Mobilized a full time Product Manager (PM) and developer to help with the initial launch of Passport
  • Mobilized a developer on each of Grants Hub and Round Manager teams to help grow the short term capacity, while also gaining valuable context and building relationships to with a key workstream partner
Identity Staking - Continuing in S15
  • Contribute to GTC Utility with a staking contract that will incentivize users to stake/lock GTC
  • Improve the approachability of Passport SDK/Documentation by providing feedback to GPC as the first builders on the passport protocol
  • Expand Gitcoin Passport by creating a new stamp integration that uses a staking mechanism as an identity provider
  • Defined goal/problem/scope after completing inception/discovery process to give a headstart into S15
  • Created an initial iIteration on a smart contract to stake & lock GTC that is reusable across future staking use cases
  • Consumed passport-sdk/passport documentation to setup passport stamp integration
Governance Operations Scaling

(PAUSED - refocused efforts towards DAOs EIs)

  • Improve governance layer to scale decision making
  • Improve steward engagement & preference signaling for DAO proposal funding.
  • Reduce time spent on decision making (# of days proposal were active before on-chain deployment)
  • Improve steward sentiment through an initiative survey
  • Modular Conviction Voting prototype which can be used as a voting strategy building block across multiple initiatives
  • Highlighted governance process inefficiencies and shared with stewards to better the DAOs budgeting process (improve high leverage decision making)

Season 15 Goals

MC is continuing to respect the market conditions by running our workstream as lean as possible. We will have two lean teams (1 PM + 2 devs) who will run experiments and quickly and consistently ship valuable work. Additionally, we will have one developer and one product designer help GPC with core protocol work. This partnership will ensure we are building context and relationships that are important for future seasons. For season 15, we will focus our experimentation and innovation on the core protocols and ensuring they are approachable, while delivering valuable composable modules that drive adoption and GTC Utility. As we partner with other workstreams and the protocol needs become more clear, we will build a backlog of priorities to inform “what’s next” for the two lean teams.

Season 15 Objectives and Commitments:

MACI & Quadratic Voting Modules for Grants Protocol: Through the Optimism partnership we uncovered a need for them to weigh votes quadratically with the option of private on chain voting. This Initiative will build a MACI (minimal anti-collusion infrastructure) module & Quadratic Voting mechanism that enables Optimism to continue their adoption of the Grants protocol. In return it adds to the suite of modules that the Grants protocol can offer to other communities to fund their shared needs. Lastly, building modules on the Grants protocol creates a strong partnership between MC & GPC which ensures building on the Protocol is approachable.

Commitments:

  • Build a quadratic voting mechanism that is modular and reusable in the Grants protocol
  • Ensure user’s votes are on chain but private when using a MACI-like implementation of quadratic voting
  • Research potential scaling issues that could come with a MACI-like implementation
  • Continue partnering with Optimism to accurately define requirements as it relates to private on chain voting

Identity Staking: Passport is the first protocol launched out of the DAO via Gitcoin Product Collective (GPC). At the beginning of GR14, Passport replaced parts of the Trust Bonus system on the Grants platform. In an effort to extend the passport protocol, we propose building Identity Staking. Identity Staking in Passport allows for Gitcoin users to stake GTC as a sybil resistance signal. This initiative is a key component to exploring GTC Utility, building on one of our core protocols, and ensuring those protocols are approachable.

Commitments:

  • Build a modular staking mechanism that can be used for future staking use cases, i.e. Grants curation, Grants review, etc.
  • Improve Passport’s sybil resistance signals by allowing users to stake GTC and be read via their passport (S15 goal is to fold this signal into Trust Bonus, S16+ would be to explore an alternative to Trust Bonus)
  • Experiment with trust bonus score impact based on GTC staked on a person’s Passport
    • Partner with GPC to ensure experiment findings are synthesized and shared to determine when/if to productionalize this in Gitcoin Grants programs
  • Partner with FDD as a stakeholder to provide sybil/fraud subject matter expertise
  • Ensure smart contracts that will custody funds are audited before any major production usage

Core Protocol Approachability: Moonshot Collective will be the first third party community building on top of the two core protocols of Gitcoin DAO. This allows a confined/safe/internal environment to build on the protocols, while also providing feedback to GPC about our experiences building on them. This feedback will enable GPC to iterate on their documentation and SDK’s. The improved documentation & SDK’s will help ensure the community outside of Gitcoin DAO will be successful in building on the protocols in the future. Finally, this allows MC to be an extension of the Devrel function of GPC.

Commitments:

  • Consume documentation and SDK’s as if we are a true 3rd party consumer
  • Have a tight feedback loop with GPC to inform them of problems/successes/confusion in building on top of the core protocols
  • Mobilize our community of builders to ensure a diverse perspective of feedback

Season 15 Budget Requirements

Season 15 Operating Costs

Budget Category Description & Assumptions Amount GTC Amount USD
Contributor Compensation Accounts for 3 months of compensation for contributors who will be accountable for the success of MC and its initiatives 127,220* $349,854
Hiring Budget Accounts for 1 new hire to fill a senior product manager / workstream co-lead role 13,236* $36,400
OpEx Accounts for fees to audit contracts that will custody funds and other product operational expenses. 7,273* $20,000
Total 147,729* $406,254

Notes a conversion based on the price of GTC on 08/02, and will update using the lesser of spot price or 20 day moving average when proposing budget on chain.
Further Detail for Description and Assumptions

Contributor Compensation - This includes 8 full time contributors and 1 part time contributor (see breakdown of contributors below). This budget does include an increase in spend from previous seasons as we are adding 3 new salaries ($113,254 in total) for people who have been working with Moonshot, but were paid via holdings. Each initiative will have 1 product manager (PM), and 2 developers to achieve the outcomes desired. We will also have our product designer and 1 engineer support core protocol work with GPC. Supporting all initiatives will be 1 workstream lead, 1 product designer, and a part time community + operations lead.

Hiring Budget - We are seeking to hire an additional Senior Product Manager (or similar skillset) to help drive the overall strategy for our product innovation and experimentation group. The ideal hire will also act as workstream co-lead. The need for this hire is based on gaps that we identified within season 14.

OpEx - Identity Staking will have a contract that custodies funds as it is facilitating the staking of GTC. Most of our OpEx budget request is to fund an audit of this contract. We will only have it audited if we validate the idea is worthy of being productionalized. The remainder of the funds will be used to successfully host, deploy, etc. the products built in our initiatives.

Per Project Cost Allocations:

Given the above structure of our budget, it may be helpful to see the costs on a per team basis, this is broken down as follows:

  • Quadratic Voting: 27.57%
  • Identity Staking: 44.87%
  • Core Protocols: 18.61%

These costs include the shared resources (design and workstream leads allocated ⅓ to each project). The remaining ~8% of our budget will be used to hire a senior PM/Workstream co-lead.

The higher cost of identity staking is due to the need to audit its contract, which will custody funds. Quadratic Voting’s product manager will serve dual purpose as the workstream lead as well.

Budget Ask

USD GTC
Season 15 Total Need $406,254 147,729*
60 day reserves $180,000 65,455*
Event Allowance $21,000 7,636*
Current Treasury Balance ($346,901)* (51,028)*
Amount Requested from Treasury $260,353 94,674*

*Notes a conversion based on the price of GTC on 08/02, and will update using the lesser of spot price or 20 day moving average when proposing budget on chain.

Team Composition

MC will enter season 15 composed of the following team to ensure we can accomplish our goals and outcomes over the next three months. Please note the addition of three new salaries coming from holdings and that we have reduced our headcount from season 14 to ensure we are running lean, while still being able to be successful in experimenting and shipping valuable products.

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Visualization of the budget draft above. I intend to post these under each budget and keep them updated as proposals incorporate feedback and changes. Please reach out if you have any questions or input.

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Hey @Fred, why does the prev seasons budget ask chart, show, ~$80k as s15 ask? It should be ~$260k right?

The Budget ask + Reserves ask is $260,353 (the light green line in the graph).
Reserve ask is $180,000
Budget ask (without reserves) is therefore $80,353.

i.e if the workstreams would not ask for 60day reserves the budget ask would be $80,353.

The projected spend can be found just under the Objectives; $406,254

Okay i think there is some confusion here across the board and i will breakdown the numbers to hopefully make it make sense.

Our projected spend for S15 is $406,254… This is not inclusive of reserves as that is not a projected spend.

Here is a breakdown that might clarify this all for you (same table in the proposal):
image

We had a good call today with Chase. One of the items we discussed was reducing the budget for salary on the new hire by 1 months pay given that they likely wouldn’t be recruited and starting until September at the earliest. Chase was in agreement and is going to make that reduction in the requested budget. Thanks for a good job Chase!

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Echoing Anne’s comment, great call with Chase this week.

Overall the budget is very thorough, the feedback process has been great, and Chase and Moonshot are doing all the right things to be good stewards of the DAO funding they are requesting to fulfill their mandate. I’m fully supportive of their budget and the process thus far.

As a take-away from our feedback session, the stewards on the call highlighted that the Moonshot work is experimental and likely to take more than a single quarter to realize value. To help map that longer value delivery onto the quarterly budget cycle, we discussed the benefit of having Moonshot provide a broader context for their work, including more venture-oriented metrics to anchor their experiments around aspirational value generation (TAM, TVL, etc.). We recommended that the budget is updated to include a commitment to build this context documentation in S15 and to provide that context going forward starting with their S16 budget proposal.

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