Grants Team
| Start Date | July 1st, 2023 |
| Duration of Work | 3 months |
| Budget | $19,000 |
The grants team serves as a community-led program to fund ideas submitted by both PoolTogether community members as well as third-party applicants, with a focus on empowering a wider network of developers and contributors and increase adoption of the PoolTogether protocol. There are many great ideas for improving the protocol and grants plays a key role in evaluating and equipping those contributors with resources needed to go from idea to funded development.
Scope of Work
Motivation
The concept of a Grants program is pretty well known in the DeFi space.
Grants programs are often the first point of contact for outside teams to contact and communicate with a DeFi protocol and Grants aims to fullfill this role, always trying to embrace the spirit of the PoolTogether Community and Constitution.
Goal
- Be a supportive, reliable and transparent partner
Grants represents a funding source of relatively low resistance for instance compared to a fully fledged governance proposal to obtain funding. The grants team commits to be accessible, responsive and supportive of grant requests regardless of their achievability to ensure that all applicants that put in the effort to engage with the PoolTogether protocol feel respected and taken seriously.
- Emphasize initiatives that benefit the adoption of PoolTogether on all deployed chains
Being deployed on multiple chains has been elemental for PoolTogether to drive user adoption. The grants team shall but an emphasis on initiatives that improve the user adoption, experience or create additional features / layers utilizing PoolTogether on all chains.
- Continue the growth of V4 but also preparing the Hyperstructure launch
The Hyperstructure launch is coming nearer and everyone in the Community is preparing for that. During the phase of transition Grants will provide support for everyone that wants to build on the existing V4 structure but also for people that already plan to build and spread awareness about the upcoming Hyperstructure.
Milestones & Deliverables
The Milestones and Deliverables are linked with the Motivation and Goals and our new PTBR structure.
To be a supportive, reliable and transparent partner Grants will continue to track and publish the funded Grants via the Notion and at the end of the quarter Grants will publish a review about the funded grants of that quarter. Grants will also reguarly attend the weekly council calls to inform the council calls about new Grants and the status of the current Grants, gather feedback and input and apply it in the review process.
Be a steward for the new PTBR process and guide people and teams through it, providing assistance and helping them presenting their ideas to the PT Community to write a proposal rdy for on chain voting. If needed and the Community shows support of the published PTBR, using Grants POOL funds to propose the PTBR on chain.
Last Season Review
Last quarter Grants received a total of 54 applications. We reviewed them and approved 15 for a Grant. Total USD spend on Grants last Season was 29k USDC and 3k POOL Tokens. A total overview about all funded Grants can be found on https://poolgrants.org/.
Some Grants I want to highlight here especially are:
Governance Upgrade by ScopeLift - 10000 USD
Grants received and approved a Grant from ScopeLift to evaluate a PoolTogether Governance contract upgrade. This lead to to the first PT Budget Request and was approved Governance to fund the full upgrade.
See: PTBR-1: Governance Contracts Upgrade/ScopeLift
Prize Notifications Maintenance - 3000 USD
Grants received and approved a Grant from @underthesea, @max and @drcpu for maintaining the current Prize Notifications infrastructure and adapting them to all changes necessary to keep them running. Prize Notifications are a very important part of the protocol so people don’t have to check their prizes every day and avoid that their prizes expire.
See: Setting up Prize Notifications - PoolTogether User Guide
Tally Delegation Week - 1000 USD
Grants received and approved a Grant from @tjark for sponsoring gasless delegations during the delegation week! This way people can delegate to active Poolers and make their POOL vote count without needing to spend money on gas themself. For more info about the delegation week,
See: https://delegationweek.com/
Polygon POOL Pool - 600 POOL
Grants received and approved a Grant from @lonser to fund the Polygon POOL Pool with a weekly prize of 50 POOL Tokens. The Polygon POOL Pool is a great way to hold on to POOL Tokens while having the chance to win more POOL as prizes.
See: https://polygonpool.win/
PlayTogether - 30,000 Delegation
Grants received and approved a Grant from @noxe for organizing the monthly PlayTogether events. PlayTogether is a fun and engaging way to bring the Community together.
Check #PlayTogether in Discord.
Pizza Day Event in Nice
Grants received and approved a Grant from @noxe for to host a Pizza Day Event in Nice, where people can gather together, enjoy Pizza and talk about crypto and DeFi including PT, with Noxe there to explain and educate people about PT.
Across bridge listing
This one is still work in progress but thx to the help of @therealtuna Grants is currently working with Across to get the POOL token listed on the Across bridge, Risk Labs running a relayer and Grants loaning the needed POOL funds. PoolGrants will also provide some needed bridge liquidity.
Budget
| Amount | Token |
|---|---|
| 19000 | USDC |
Additionally a 100k delegation, in custody of the Executive Team and managed by Grants.
Grants currently has a budget surplus of 26k USDC and 20k POOL from Q2 2023.
Grants aim to continue the work with a quarterly budget of 45k USDC and 20k POOL. The focus will be on small and medium Grants up to 10k. Higher Grants will be funded through a PTBR, Grants will guide and help navigate applicants through the PTBR process.
The reviewers are the same as last quarter (mcoso, gabor).
The Grants Multi sig will stay a 3/5 Multi Sig with the same signers and also with some voluntary members as back up (TangFeng, Taliskye).
The funds will be sent to the known Grants Gnosis Safe:
0xd605bB8A3DA1f7f777276D3c97c828aAc3Dd4252
Only approve an on chain proposal that will sent the funds to this Safe!
Pls feel free to comment, vote and provide feedback.
Also adding a quick poll for everyone that can’t/don’t want to comment:
- YES
- NO
- Abstain
0 voters