YIP: Direct % of rewards towards Ethereum public goods funding

Proposals Vaults
21

Considering round 6 was $475 k of matched funding, YFI could easily become a whale within the matching pool.

I think a subsection of the tech categories for yearn related projects would be nice (Similar to the ETH2.0 category https://gitcoin.co/grants/tech?category=eth2.0 ).

However, I would like to suggest a split between that and some of the other categories to spread the love a little. Say 25% into the yearn matching pool and 75% into the tech matching pool.If we restrict the yfi pools to a few projects there will be a significant chunk of cash for each.

We could also make direct grants to individual projects via gitcoin:

  • 20 projects are included in the yfi pool - selected by yfi community from those listed on gitcoin

  • Each gets a direct grant of 2% of the yfi contribution (e.g. $20,000 if we donate $1MM)

  • A further 30% into the yfi match pool to be applied via the quadratic function

  • The remaining 30% of the yfi donation goes into the general tech category to be allocated as per the quadratic function.

This becomes more complicated, and needs more governance to apply than donating directly to the tech matching pool. The good news is that it probably requires minimal solidity programming so can be done by community members who can not code.

(Quick edit to check $475 to $475 k…)

4 Likes
22

Definitely FOR this!

I think almost everyone here is familiar with the tragedy of the commons. So in my opinion any project that makes a profit and uses the infrastructure should consider maintaining this ecosystem and infrastructure in one way or another.

The Gitcoin distribution model has proven itself quite well, and it is a great place to allocate funds for the above purposes.

In my opinion, this can be operated without a time limit, and if necessary, the community can vote to cancel.
Any percentage in a given range looks acceptable to me.

23

100% for. I voted for 2% but wouldn’t mind it being 4 or 5% if maybe half or 1/3 went to curve projects only.

24

The poll has concluded. The winning option is 1%.

  • 0% - 9.34 YFI - 0.76%
  • 1% - 1.04k YFI - 84.26%
  • 2% - 109.07 YFI - 8.87%
  • 3% - 11.47 YFI - 0.93%
  • 4% - 1 YFI - 0.08%
  • 5% - 62.74 YFI - 5.1%
7 Likes