This document outlines the current relationship between the Drips Org and Radworks. It is supplemental material for [Discussion][RGP - 19] - Drips Org Proposal 2024.
Scope & Objectives
This document defines the relationship between Radworks, a networked organization that facilitates the governance, stewardship, and deployment of the $RAD treasury, and Drips, a project building a decentralized toolkit for open-sourced funding processing. Specifically, this document describes the grant funding terms and expectations for the Drips Org’s 2024 operational funding of $1,103,645 and outlines expectations and processes for continued funding into 2025.
Drips is building a decentralized toolkit for funding FOSS that is leveraging the interdependency between software projects and people. In short, the Drips Org is taking on the problem of FOSS sustainability. The team’s focus is on establishing Dependency Funding as a new norm for Web3 communities to fund their critical software dependencies on a continuous basis.
This round of grant funding focuses on reducing barriers of entry to (1) attract more funding to Drips and (2) onboard more FOSS projects to claim those funds and further split funding with their software dependencies.
Radworks is funding Drips pursuant to its purpose of funding and supporting the creation of censorship-resistant and decentralized technologies that empower builders and creators to collaborate. Radworks understands Drips to be a core piece of Internet infrastructure that will provide an essential alternative to corporately owned technology to users globally. Drips empowers builders to continue contributing to the commons (Free and Open Source Software) by creating new value flows towards them based on their impact.
Drips strengthens the incentives to build FOSS by redistributing wealth towards the most impactful FOSS projects. We consider this an essential part of the Radworks mission to cultivate internet freedoms.
Terms of Agreement
Radworks will grant 12-months of funding to Drips to attract and retain more organizations that fund their dependencies through Drips.
Specifically these are the metrics we will use to track progress:
- Number of orgs that use Drips to fund their critical software dependencies
- Total $ value deposited in Drips
- % of $ value collected by recipients
- % projects that have claimed who also choose to split to their dependencies
- Funder retention
Grant Structure
Upon successful passing of [Discussion][RGP - 19] - Drips Org Proposal 2024 through governance, Radworks grants Drips $1,103,645 to achieve the objectives listed above and find product market fit.
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Funding will be structured as a grant. However, in the future, the Drips Org intends to evaluate its relationship with Radworks when it has found product market fit and explore this funding to explore its path for longer-term self-sustainability.
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This grant is not a loan.
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Radworks and the Drips Org agree to revisit the question of sustainability and timeline at the end of this 12 month funding period.
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Funding will be granted on a one-off basis.
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The Drips Org will not seek additional funding from third party capital providers without consent of Radworks.
- “Additional funding” = capital seeking financial returns/ownership of Drips. Additional funding does not include non-return seeking donations or grants.
- “Consent of Radworks” = approval via token holders or via a group of elected representatives
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The Drips Org also commits to:
- Meet on a quarterly basis with the Radworks Strategy Committee
- Share a public dashboard where the above KPIs can be monitored on a continuous basis.