Drips Org - Q3 2024 Update

📣 Updates & Reporting 💪 Org Updates
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General Announcements & Updates

  1. Filecoin chose to distribute 300k FIL ($1.2m) in December via Drips.
  2. Scroll chose to use Drips for voting and distributing prizes for their Hackathon.
  3. We shipped collaborative Drip-Lists.
  4. We shipped a new landing page.
  5. We will be in Devcon in November.
  6. Morgan joined the team as a new front-end developer.

Quarterly Objectives Updates

:yellow_heart: Our current estimate is that we will be between 10-15 orgs using Drips by the end of the year.
:yellow_heart: Our current estimate is that we will be between $3m and $5m dripping by the end of the year.

On the good side, we are in discussions or have already formed partnerships with some of the biggest orgs in our space (ENS, Protocol Labs, Scroll, Devcon etc.). Currently we have 7 orgs closed and committed, and 10 orgs we are in active conversations with.

On the less good side, we are behind on our goal to distribute $10m via Drips this year, as it took us longer to figure out our L2 strategy and find a go-to-market that could scale. We are doing much better since June as we managed to get big wins in three verticals: 1. Developer Grants 2. RetroPGF funding rounds 3. Hackathons. Partnership conversations since then have been much easier.

Our dashboard with most metrics is here: https://dune.com/lftherios/drips

Other Updates

  • We continue to onboard many awesome non crypto focused FOSS projects within Drips
  • ~60% of all projects within Drips split with at least one of their dependencies!
  • We formed a partnership with Open Source Collective so developers can off ramp funds via them.
  • As part of our partnership with Filecoin, we deployed our contracts and app on the FVM.
  • We started using Gelato for oracle services. And we have started looking into zkTLS providers as a potential solution.
  • We worked on a way to manage our L2 deployments via the DAO using LayerZero and Axelar.
  • We audited the above.
  • We will be having an offsite in Thailand where we will discuss our strategy for 2025.
  • Our team members attended EthCC in July.

Timeline & Budget Update

We will be exactly on budget at the end of the year.

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