Summary
In support of BIP 104 - Badger Grant Program, Gitcoin requests a grant to implement and manage the recently approved $250,000 grants program for the second half of 2024. This collaboration aims to leverage Gitcoin’s infrastructure while adhering to the parameters outlined in the original proposal, particularly maintaining Badger’s forum-based application process and community involvement.
Alignment with BIP 104 Parameters
- Timeline and Budget: Our request aligns with the July 1 to December 31, 2024 timeframe and the $250,000 budget.
- Forum-Based Applications: We will require that initial proposals be created in Badger’s forum, ensuring all applications are publicly available.
- Treasury Council Evaluation: Our system will support the Badger Treasury Council in making final evaluations on projects, as specified in the original proposal.
- Flexible Application Period: Our platform supports continuous applications, aligning with the “no waves, sprints, or seasons” approach.
- Grant Size Range: We can accommodate the proposed $1k to $100k per project.
- Milestone-Based Payments: Our system supports milestone-based payments, ensuring funds are distributed based on delivered outcomes.
- eBTC Payments: We can facilitate payouts in eBTC while maintaining dollar denomination.
Implementation Mechanism
- Applicants will submit proposals on the Badger forum for community discussion and initial vetting.
- Approved proposals will be directed to submit a formal application through Gitcoin’s Grant Stack platform.
- The Badger Treasury Council will decide on grant approvals using our platform.
- Gitcoin will manage the backend processes, including KYC, fund custody, and distribution in eBTC.
This approach is similar to our successful ‘forum first’ implementation with Avalanche: Avalanche Eligibility Criteria
Proposed Cost and Value Justification
Gitcoin requests a $15,000 grant to implement and manage this grant program. This leaves $235,000 of the original $250,000 budget available for grants.
The $15,000 grant will cover:
- Program design and implementation
- Ongoing management and support
- Platform customization for Badger DAO
- KYC process management
- Fund custody and distribution
Value Proposition:
By partnering with Gitcoin, Badger DAO gains access to:
- Proven Expertise and Infrastructure:
- Leverage Gitcoin’s experience managing millions in grants across various protocols.
- Utilize our Grant Stack platform, a robust, on-chain solution specifically designed for Web3 grant management.
- Benefit from our established processes for KYC, fund custody, and distribution, ensuring security and compliance.
- Community Growth and Talent Acquisition:
- Tap into Gitcoin’s vast network of developers and projects.
- Increase visibility for Badger’s grants through the Gitcoin Explorer, attracting high-quality applicants who might not otherwise discover the program.
- Potential to uncover innovative ideas and implementations that can drive Badger’s ecosystem forward.
- Seamless Integration with Badger’s Existing Processes:
- Seamless integration with Badger’s forum-first approach, maintaining community engagement and decentralized decision-making.
- Support for the Badger Treasury Council in evaluating and approving grants.
- Flexible system that aligns with BIP 104 parameters, including continuous applications and milestone-based payments.
- Scalability and Future-Proofing:
- As Badger’s grants program grows, our infrastructure can easily scale to accommodate increased budgets and grantees.
- In the future, advanced funding mechanisms like quadratic funding will be possible to introduce, adapting to Badger’s evolving needs.
- Potential to establish a community grants council, further decentralizing the process as the program matures.
- End-to-End Program Management:
- Full support in designing, implementing, and managing the grants program.
- Handling operational complexities allows Badger to focus on strategic decisions and community engagement.
- Continuous optimization based on program performance and community feedback.
By choosing Gitcoin, Badger DAO gains a partner with a deep understanding of the Web3 grants landscape, proven infrastructure, and the ability to adapt to Badger’s unique needs. This partnership will not only streamline the grant process but also has the potential to significantly amplify the impact of Badger’s grant program within the broader DeFi ecosystem.
Gitcoin Grants Stack Demo
You can find a demo of Gitcoin Grants Stack (the platform that we use to manage grant programs) linked below:
Action Items and Timeline
- Community Approval: Secure Badger community approval for this grant request through the established governance process.
- Integration Planning: Collaborate with Badger to finalize the operational details, ensuring alignment with the original BIP 104 parameters.
- Program Launch: Pending council approval, we aim to implement the grants program during the first week of July, ensuring transparent management and alignment with Badger’s goals.
Conclusion
We respectfully request the approval of this grant to enhance Badger’s newly approved grants program. Combining Badger’s community-driven approach with Gitcoin’s grant management expertise and supporting infrastructure can create significant value for the Badger ecosystem.