TLDR:
Funding two 25k rounds to continue the grants program.
Proposal description:
In April we had our first round of the grants program using Gitcoin’s Grant Stack which was a great success. 86 unique donors decided how to distribute the 25k matching pool by donating more than 6k to them!
We want to continue making sure we fund TE public goods by securing two 25k matching pool rounds for what’s left of 2023.
The total costs for funding this round are $52,500, which includes a 2% entry tribute for $TEC purchases (which comes back to the Common Pool) and a 3% fee to Gitcoin for being a featured round.
Of this amount, we are subtracting $25,000, which is the amount that the TEC was granted by the most recent ENS Large Grant round and is currently sitting in the Coordination Teams multisig wallet. The ENS grant was for $50,000, split evenly between the TEC and the Token Engineering Academy.
Additional information to add
The reason we’re requesting 25k is because it’s the minimum to still qualify as a Featured Round in the rounds organised by Gitcoin themselves.
How does this proposal benefit the community and/or the field of Token Engineering?
- A grants program injects dynamism into public goods funding for token engineering by helping to catalyze promising, early-stage projects.
- A grants program enables the TEC to stretch the remaining Common Pool funds by stimulating contributions from individual donors and matching funds partners.
- This pilot gives the TEC valuable, hands-on experience running a quadratic funding grant-making process.
- Being one of just a few early stage Gitcoin Allo partners will boost TEC visibility and grow awareness for the field of token engineering within the broader web3 community.
Funding request
$27,500.00 (50k for two 25k rounds + entry tribute costs + Gitcoin fee).
How will these funds be used?
The $25K for each round will be paid to grant recipients as a matching fund that supplements the funding raised from contributors in the Gitcoin round. The costs of developing, launching and running the pilot are covered by the existing TEC Coordination Team operating budget.
How will you share progress?
Progress will be shared through the Coordination Team Roadmap, which is updated every month.
Project information (if applies)
NA
Team information
This is managed by the coordination team