PTIP-75: Grants Committee Funding (Season 3)
Simple Summary
The PoolGrants program was created through PTIP-14: PoolTogether Grants Committee.
This PTIP aims to renew the program for an additional season (6 months).
Season 2 review
The grants committee recently completed Season 2 of PoolGrants, in which we continued to support awesome community activities!
In Season 2, we received a total of 66 applications and funded 24 of them. We strongly encourage you to check out the grants we’ve funded, which you can find in our monthly Medium articles.
Last season, we experimented a lot with grants for delegations as an alternative to direct payments. This has been very successful! Examples include the NFT Christmas cards, the Valentine’s delegation NFT giveaway and the prizes for PoolStreaks.
We’re also supporting new initiatives by the community, such as the PoolTogether community podcast and substack. Another highlight was jumpstarting the Pooltogether Bounties, which are currently running hot preparing Pooltogether’s launch on Optimism.
In S2Q1, we funded grants to the amount of $88.5k and spent $15.6k on committee wages and expenses.
In S2Q2, we funded grants to the amount of $89.6k and spent $12k on committee wages and expenses.
We started out the last quarter with 102k POOL @$2.44 ($250k), which continually fell in Dollar value, leading to a tighter budget than anticipated.
Specification
The committee multisigs currently hold about $24k worth of POOL (@$0.87) and 199k USDC, across Ethereum and Polygon. We have $57k committed to open grant milestones that have not been paid out. For the first quarter of season 3, we are applying for $226k in POOL and 51k USDC in additional funding, to bring us back to a total of $500k as outlined in PTIP-14. Any amount left over at the end of the first quarter will again be rolled over to the next quarter’s funding.
Approving this PTIP is meant to signal intent to fund both quarter 1 and 2 of season 3. The budget for quarter 2 will be requested at the end of quarter 1 through a separate PTIP, in order to limit the funds available in the multisigs at any given time.
Transparency
As we are funded by Pooltogether governance, it is important to us that we are transparent about what we are doing. You can find our transparency resources ranging from funded projects and updates to member timesheets below. If there is anything you would like to see improved in this area, please let us know.
Medium Articles & Updates - PoolGrants
Funded Projects - Funded projects
Committee Time Tracking - Committee time tracking
Committee Members
The PoolGrants committee members for Season 3 will be:
Lead: @Torgin (continuing)
Deputy Lead: @gabor (continuing)
Reviewers:
@McOso (continuing)
@Taliskye (continuing)
@TangFeng (continuing)
@tanman (new)
@Lonser (new)
The process for choosing committee members was the same as previously.
There were open applications for all positions, then the lead positions were elected by the community. Following this, the leads interviewed reviewer applicants and decided who shall join the team as a reviewer.
Budget:
The budget will remain the same as outlined in PTIP-14 .
The budget for each quarter is capped at $500k with a maximum of $100k accounting for the operating budget.
The compensation will continue to be $100/hr for all roles.
Hours will be capped at 30 hrs/week split among the two leads and 6hrs/week per reviewer.
In the past, these caps have rarely been hit.
Technical specification
Transfer 259’000 353k POOL ($226k @$0.87 @$0.63) from treasury to PoolGrants Ethereum multisig.
Transfer 51’000 PTaUSDC from treasury to PoolGrants Ethereum multisig.
Multisig’s address: 0xd605bB8A3DA1f7f777276D3c97c828aAc3Dd4252
Previous PTIPs:
PTIP-14: PoolTogether Grants Committee
PTIP-48: Grants Committee Funding (Season 2)
PTIP-62: Grants Committee Funding (Q4)
Fund grants committee’s budget for Season 3 (quarter 1 and 2)?
-
Yes
-
No
0 voters