| Author: | lftherios |
|---|---|
| Type: | Treasury Distribution |
| Created: | 2023-07-14 |
| Status: | active |
The corresponding Snapshot poll is now live and can be voted on here. Voting will be open until Monday, August 28th at 5pm CET.
Note from the Governance Committee: The Snapshot issue had caused a delay in posting the Snapshot poll, but has been fixed now. If the proposal passes Formal Review, it will move to Submission the following Monday (28.08). As we have an extra week this month’s cycle, this will not disrupt upcoming September proposal cycle. We will share any updates if this plan is to change.
Purpose
The purpose of this proposal is to allocate funds through the Drips toolkit, to support the critical software dependencies of our DAO. By providing sustainable financial support to these essential projects over the course of one year, we aim to foster their growth, ensure their continued maintenance, and fortify the overall resilience and success of our DAO ecosystem.
Overview
I propose to allocate a total of $1 million in RAD and USDC, split between the two tokens, to fund our critical dependencies. This funding will be distributed over a period of one year, allowing for consistent and reliable support to the projects that are crucial to our operations.
The Radicle, Drips and Grants sub-DAOs have created their own Drip Lists with their selected dependencies and the percentage allocation, and the proposal is for the DAO to fund them.
With regards to tokens, I believe that using RAD and USDC in equal amounts is the right approach. USDC provides a reliable and stable income for the recipients, while RAD gives recipients the ability to participate in the decision making of radworks and shape its future.
Considering the estimated number of 30-50 projects as recipients (an estimate I got by talking to different org leads), the proposed $1 million funding has the potential to make a significant impact. By distributing resources through Drips, we streamline the funding process, eliminating unnecessary complexity and ensuring that financial support seamlessly reaches its intended recipients.
Flow of Funds & Recipients
- Each sub-DAO (Drips, Radicle and Grants) has created one Drip List each with their critical dependencies (see below all recipients for each list)
- As part of the proposal code, radworks will create a Drip List that contains these three Drip Lists with the following configuration:
- Drips Dependencies (45%)
- Radicle Dependencies (45%)
- Grants Org Dependencies (10%)*
- radworks deposits funds to the Drips protocol and starts streaming $1m RAD and USDC over 1 year
The rationale for proposing the above orgs and weights is based on the fact that they are the ones that are software focused and as a result have critical software dependencies. The above allocation has been coordinated with the respected org leads (@cloudhead & @bordumb).
Another that it’s important to note is that each sub-
will have the ability to change their list over the course of a year, as their dependencies evolve. For transparency reasons, we require every org that changes their Drip List recipients to provide an update on the forum about what change is being made and why, by posting it as a reply to the final proposal post.
We also strictly outline that dependancies on Drip Lists should be external recipients (outside of Radworks ecosystem) to avoid conflict of interest. No library developed and maintained by a sub-DAO contributor should be included or considered.
More Questions & Answers
- Proposal Code & risks?
The proposal code is currently being developed and will be shared here in the next few days. The code will be thoroughly tested in advance and a risk report will be shared here before the final vote.
- What happens after the funds have been streamed / does the support process for recipients of the funds being streamed look like? How dependancies will be notified and supported after the streaming starts to make sure they know how to claim funds
Our Partnerships lead will reach out to each project or maintainer using their preferred communication channel (tw, gh, email, etc). A set of scripts have been crafted.
The aim is to inform them about the funding they’ll receive and provide some context about our work and sources of the funding. We’ll offer assistance in getting started, onboarding, and addressing any inquiries they have.
Once they claim those funds (or if they decide not to), we’ll conduct a user research session or questionnaire to gather feedback. This feedback will help us identify strengths, weaknesses, and opportunities for improvement in our approach.
- What about software projects that are in multiple lists?
This is totally ok and will be allowed, as this means that this software project is having impact in more than one sub-DAO and that should be reflected on the relevant lists.
Objectives
The objectives of this proposal are as follows:
-
Ecosystem Resilience: Strengthening our critical dependencies is vital to the overall resilience of our DAO ecosystem. By ensuring the continuous support and maintenance of these projects, we safeguard the stability and reliability of our infrastructure. This, in turn, enhances our ability to fulfill our mission and serve our community effectively.
-
Collaboration and Interdependence: Through this funding initiative, we emphasize the spirit of collaboration and interdependence within our ecosystem. By supporting our critical dependencies, we acknowledge the significant contributions they make to our success. This fosters a mutually beneficial relationship where the success of our DAO is intricately tied to the achievements of our dependencies. In addition, we create an opportunity to strengthen our relationship with them and onboard them to our ecosystem.
-
Long-Term Sustainability: The allocation of funds over a one-year period demonstrates our commitment to the long-term sustainability of our critical dependencies. By providing consistent financial support, we create an environment where these projects can thrive, attracting additional contributors and establishing a foundation for their continued development and maintenance.
-
Drips Ecosystem Growth: By adopting Drips as the mechanism for this proposal, we have the opportunity to showcase its strengths and attract new users.
Drips’ features, such as per-second streaming, flexibility in token choice as well as its flexible identity model where funders can stream to any git forge url (in addition to an Ethereum address), ensure a streamlined and user-friendly experience for both our DAO and the recipients of funding.
Overall, this proposal embodies our commitment to the long-term success of our DAO and the interconnected projects that contribute to our achievements.
Snapshot Poll Results