Project name:
Giveth
Author name and contact info (please provide a reliable point of contact for the project):
Griff Green, Telegram: @griffgreen
L 2 recipient address:
0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd (giv.eth)
Which Voting Cycle are you applying for?:
11
Which sub-committee should review your proposal? (Builders Grants, Growth Experiment Grants):
Growth Experiment Grants
I confirm that I have read the landing pages for the Builders 28 and Growth Experiments 28 Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Growth Experiments Sub-Committee: [Yes/No]:
Yes
I understand that Growth Experiments grants are subject to a “no sale rule,” as explained in this post, and I have read the terms of the rule: [Yes/No]:
Yes
Project Details
What are you building?:
I will keep this cycle’s proposal as brief as I can as there are many questions to answer and the previous proposal gives a lot of detail into what we are building.
[DRAFT][Phase 1 Proposal] Giveth Grants Council Cycle 10 - 11
Project name: Giveth
Author name and contact info (please provide a reliable point of contact for the project):
Griff Green, Telegram: @griffgreen
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes
I understand that I will be expected to following the public grant reporting requirements outlined here: Yes
L 2 recipient address: 0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd (giv.eth)
Which Voting Cycle are you applyin…
The TL;DR is that Giveth has an incentivized web 3 donation platform on Mainnet and Gnosis Chain and we would like to bring the entire application to Optimism. We will reward donations on Optimism to verified projects and we will launch an incentivized staking and locking system called GIVpower. Both of these systems will be rewarded in GIV, streamed over time on Optimism, which will bring users back to the Optimism chain again and again to claim their rewards until the GIVstream ends on December 23 rd, 2026 .
Why do you believe what you are building is going to succeed?:
We have been around since 2016 and aren’t going anywhere. Our current version of the donation application rewards donors in a similar way as tax deductions, but without the borders or bureaucracy. Donors are rewarded when they donate to any verified project anywhere in the world. They aren’t rewarded with paperwork though, they are rewarded with $GIV. This is a web 3 improvement on the subsidy model for nonprofits that has been used around the world with great success.
$GIV’s token model is very similar to veCRV, except the locked tokens determine the donation mining rewards instead of liquidity mining rewards.
Regen instead of Degen.
But our mission is much larger than the current state of the GIVeconomy. Our goal is to enable nonprofits to create their own economies that can reward them for their work.
We believe nonprofits create value, and that economies can be created around that value. If this theory is true, we will succeed, as we are further along this path than anyone else.
Our very close partner, Commons Stack, helped deploy a nonprofit microeconomy called the Token Engineering Commons, which has only donated to projects supporting the Token Engineering space. It has had no other token utility other than governance over it’s small pot of funds and yet their token price has actually beat the price of ether!
When the TEC was launched in 2021 , ether was $ 3300 and TEC was $ 1 . As of time of writing, nearly 2 years later, ether is down ~ 50 % and TEC is only down ~ 30 %. This is very encouraging. Commons Stack has learned a lot from the TEC and has improved the design pattern and is now partnering with ReFi DAO to continue this applied research by deploying many more of these microeconomics. This research will end up being used to build a path for projects on Giveth to follow so they can also launch their own microeconomies.
This long term vision is well outlined here: Evolving Nonprofits into Regen Economies | by Griff Green | Giveth
How many users does your project have currently? Please include how you arrived at this estimate:
Since 2021 on our current iteration of the Giveth DApp (excluding the previsions iterations) we have had more than 2 , 300 projects created, and over 1 , 400 of those have been verified by our team to be legitimate public goods projects.
We have had over 15 , 000 donations (obtained from our development team) from 4 , 500 unique donors for over $ 1 . 6 mil. This data can be obtained here: https://analytics-dashboard-blue.vercel.app/
How will receiving a grant enable you to further the mission of maximizing the number of users interacting with Optimism? Please include a step-by-step flow of how you imagine this grant can lead to a greater number of user interactions with Optimism:
With this grant we will build out the Giveth ecosystem on Optimism. There are no donation platforms on Optimism as far as I know. This use case is completely missing, and for a project focused around public goods, we believe there will be a lot of users willing to donate, more on average than most chains. Giveth’s system will lock them into the Optimism ecosystem for the next several years.
We will:
Enable projects to collect donations on Optimism.
Enable Optimism users to donate ANY token in the Optimism network to their favorite nonprofits.
Reward donors to verified projects on Optimism with GIVbacks streamed for the next several years on Optimism.
Allow GIV holders on Optimism to stake and lock their tokens in GIVpower for governance rights to boost projects. Boosted projects show up higher on our home page and give more GIVbacks to their donors.
Reward GIVpower users that have staked and locked their GIV will earn a yield in GIV streamed for the next several years on Optimism .
Our rewards programs are sticky. When a donor donates to a verified project, or when someone stakes GIV, they get some liquid GIV and a GIVstream that will stream GIV to them until Dec 2026 .
This means, any donor or staker on Optimism will be coming back to the Optimism network to collect their GIV for the next several years. Giveth has been active in the Ethereum community since 2016 and isn’t going anywhere, our token is more likely to have value for the next several years than most teams that apply to this grant process IMO.
This grant will be used to provide long term liquidity for GIV to keep users on the chain for the next several years.
Tell us about the users you plan to target with this grant. Include any defining characteristics that will help you identify and target them.:
We are targeting nonprofits, public goods projects, Refi projects, impact DAOs and crypto donors of all kinds. More specifically:
Nonprofits: Any organizations in the non-profit space regardless of the regional scope and legal status. We aim to target it with partnerships with organizations already working with many of these actors.
Public goods projects: Any project working for public goods, including community projects, activists and all efforts intending to provide public goods. This is the broader target. We aim to target it with partnerships with organizations already working with many of these actors.
ReFi projects & Impact DAOs: Web 3 native projects focused on making a positive impact. These projects are growing exponentially. In a very niche space where Giveth is well-positioned to capture.
Crypto Donors: Basically anyone who has crypto and isn’t a 100 % full on degen. This is a large market, which depends on the world situation. For instance, the war in Ukraine and the earthquakes in Turkey & Syria turned many Ukrainian and Turkish crypto users into donors, even if they didn’t probably didn’t consider themselves donors before those events.
Over $ 50 million was raised by Ukraine projects in crypto and over $ 6 million for Turkey and Syria so far.
Chainalysis – 21 Feb 23
Crypto Donations Provide Fast Relief for Earthquake Victims in Turkey and...
"Cryptocurrency has been a major factor in helping people in humanitarian crises, as it has brought millions of dollars in aid to Ukraine. Read more here."
Est. reading time: 4 minutes
Just last week 1 inch donated $ 100 k to Earthquake Relief projects on Giveth. As a DAO that doesn’t pay taxes, Giveth is the natural choice for donations as 1 inch can’t get a tax deduction, but they can receive GIVbacks.
Our verification team and GIVbacks for donors sets us apart from most of the crypto donation space and we are confident that as more people realize that donating on Giveth is a safer and more rewarding experience than donating to random addresses they find on Twitter, we will capture more and more of the crypto donation market.
Expanding to Optimism helps us achieve that mission. Gnosis chain is our only chain for low cost transactions, but it has very few users. Optimism is very aligned with our mission and has a much higher TVL. We expect many of our future donors to prefer to use Optimism for cheap donations as opposed to Gnosis Chain.
How would these users interact with Optimism? For how long?:
Donors would be able to donate on Optimism. When they do, they will get GIVbacks which will lock them to the Optimism chain as they will get a stream of GIV until Dec 2026 .
Projects will have a donation address on Optimism and will receive donations at that address as long as they maintain their project on Giveth in good standing.
GIVpower users will consider bridging to Optimism to get exposure to the APRs for staking and locking their GIV, which will lock them to the Optimism chain as they will get a stream of GIV until Dec 2026 .
Provide us with links to any of the following for the project:
Demo:
Project owners 101 course: https://www.youtube.com/watch?v=QgC 05 uGTaZo&list=PL 4 Artm 1 rmCWFi-qEkOtjl 9 nL 4 tojSIIKm Donors 101 course: https://www.youtube.com/watch?v=-JXwwIGJGQQ&list=PL 4 Artm 1 rmCWH 4 Q 5 XnrQWf 8 fm 0 xob 3 hbdZ
Website: https://giveth.io/
Twitter: x.com
Discord/Discourse/Community: Discord / https://forum.giveth.io/
Github: Giveth · GitHub
Technical/Economic Documentation: https://docs.giveth.io/
Other: Giveth talk: The Biggest Web 3 Opportunity That No One Is Talking About (https://www.youtube.com/watch?v=ADSOVkujrI 4 )Deck: https://giveth.io/deck GIVpower launch video: https://youtu.be/KvMR- 6 JQ_fc
Do you have any metrics on the project currently? (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.):
Since our launch at the end of December last year, we have helped raise over $ 1 . 5 million to projects on our platform. We have this dashboard with key stats of the platform connected to our backend https://analytics-dashboard-blue.vercel.app/
But here is a summary of the main metrics from December 2021 to March 2023 ( 15 months):
Projects created: 2015
Donors: 3384
Total donations value: 1 . 56 Million USD
Who are your competitors, and are they on Optimism?:
There is no competition in funding Public Goods!But at our core right now, we are a donation platform so some similar projects are:GitcoinClr.fundThe Giving BlockNone of these platforms have launched on Optimism. Additionally, we believe we complement these projects well as we are running our benefits for donating 24 / 7 as opposed to quarterly rounds & have key differentiators like the GIVbacks program. We have integrated The Giving Block Projects on Giveth and are actively collaborating with Gitcoin. (Gitcoin & Giveth Partnership - QF integration + beyond! - GIVernance - Giveth Forum: Join the conversation to shape the Future of Giving
Please link to code audits (if any):
The GIVeconomy contracts were formally audited by Oleksii Matiiasevych, one of the devs that initially developed Tether & the first person to ever create a token on Ethereum. The audit found four minor issues that have since been resolved.
Audit link: code-reviews/Giveth GIVeconomy Contracts Code Review.pdf at main · lastperson/code-reviews · GitHub
The code was also reviewed closely by Jordi Baylina from PolygonHermez, Eduardo Diez of DAppnode, and several other well respected members of our community. We have many white hat friends, as we were started by the White Hat Group, and they help us pro bono a lot, but we rarely get formal reports.
Team:
Giveth has an incredible community of well over 50 + active contributors, below are many of the active contributors people may know. 1596 × 896 309 KB
Who are your founders?:
Griff Green is the most active co-founder of Giveth. He is also a co-founder of Commons Stack, Trusted Seed, Praise & dappnode. Community manager for TheDAO, led the crisis response effort for TheDAO Hack and first Parity Multisig Hack from every angle, co-founder of the White Hat Group and led the creation of Token Engineering Commons. Advisor for PolygonID, PolygonHermez, brightID, Doingud, and steward for Gitcoin, ENS & actually Optimism as well ;-D
Jordi Baylina, Grace Torrelles and Vojtech Simetka are the other founders, however Giveth was founded nearly 7 years ago and these 3 only occasionally contribute to Giveth. Jordi contributes the most by writing and reviewing most of our smart contracts, including the ones we will deploy on Optimism.
What makes your team well-suited to carry out the project described in this proposal?
We have a strong & robust team that has led us to the successful launch of the system we are proposing on Gnosis Chain where we have grown our community up until now. We intend to further grow our community in Optimism.
Is this your first Web 3 project?:
No.
If not, what else have you built? (Share links, Github repository, or any other useful information.):
TheDAOWhite Hat GroupAragon (https://aragon.org/)Status (https://status.im/)iden 3 (https://iden 3 .io/)Polygon Hermez (https://polygon.technology/solutions/polygon-hermez/) 1 hive (https:// 1 hive.org/)xDai - now Gnosis Chain (https://www.gnosischain.com/)Commons Stack (https://commonsstack.org/)Token Engineering Commons (https://tecommons.org/)brightID (https://www.brightid.org/)dappnode (https://www.dappnode.io/)General Magic (https://www.generalmagic.io/)
Grant Request
What is the size of the grant request? ( 250 k OP max):
40 k $OP
How do you justify the size of the grant?:
16 k $OP would be rewarded to the first 640 verified public good projects on Giveth that add an $OP donation address. This is important to bootstrap the network effect of Optimism on our platform
24 K $OP will be given out as a milestone based on usage and will be used to create an LP against GIV to allow GIV to have a secondary market on Optimism. Giveth will use its own GIV and pair it with the OP to make a 50 / 50 liquidity pool on the best dex as advised by the Optimism Grants committee (probably Velodrome if we can get GIV whitelisted).
This is much less than the original request as we intend to use some of the OP that we received from RPGF round 2 to create our own LP.
To allow GIV to be given to donors on Optimism, we would need to have a liquid market on Optimism, otherwise we would be driving people off the chain. This is why we’d want to build our way up to a sizable LP with Optimism. This OP will not be sold, it will simply be held in an LP for perpetuity. We would be very happy to hold it in a multisig with other members of the optimism community so that Giveth doesn’t have control over it if that is deemed necessary.
In my honest opinion, this is much better than liquidity mining. We can do that though. We can create an OP/GIV farm on Optimism and “rent” the liquidity, but Sushiswap APRs for OP/ETH is > 80 % so for a OP/GIV pool, I would expect it to find a balance at ~ 150 %. This would mean around 100 k OP would get us $ 400 k of liquidity for < 6 months (assuming the price stays stable).
We can do that and I will outline some cool ways to do so in comments below in the next few days as an alternative, but we truly believe a token swap approach is much more beneficial for the Optimism ecosystem, so that is what we have included in this proposal.
Roadmap and Distribution Plan
Describe in discrete steps how you will successfully implement your grant plan. How will the OP tokens be distributed? (please include % allocated to different initiatives such as user rewards/marketing/liquidity mining. Please also include a justification as to why each of these initiatives align with the problem statement this proposal is solving. Distribution should not include the sale of any tokens by the grantee or the use of tokens for compensation, protocol expenses, etc. See the no sale rule here 1 ):
Formatting in Discourse is hard so I made a table in this Google Doc:
docs.google.com
Giveth x Optimism Milestones
Milestones Onboard We would like to add our Donation Application (https://giveth.io) to the Optimism chain so that every project on Giveth can raise funds with Optimism. Summary for this funding: We’d like to ask for 24 K Optimism to create an LP...
Screen Shot 2023 - 03 - 30 at 8 . 20 . 19 PM 1184 × 1874 169 KB
Over what period of time will the tokens be distributed for each initiative?:
These metrics should all be achieved within 6 months of receiving the grant for Optimism.
Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project throughout your work on the project. Do not use distribution of the grant itself as a milestone:
I believe this is answered above. I will also link again our blog on our goals for 2023 , we have lots of important milestones there as well: 2023 Giveth Looking Forward. ?️♂️ Watch out, 2023 , Giveth is… | by Dr Suga | Giveth
Please define critical milestones for this project. Critical milestones are meant to show good-faith efforts to accomplish the project. Non-completion of these milestones could lead to revocation of remaining grant rewards. Do not use distribution of the grant itself as a milestone:
I believe this is answered above.
If the OP tokens are for direct distribution to users, why will incentivized users and liquidity on Optimism remain after incentives dry up?:
We will be using the GIV token for rewards so we don’t need to be continually asking for more funds from Optimism and users will stay on Optimism to claim the GIV tokens that will be streamed to them until the end of 2026 .
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.):
Our main multisig on Optimism is at 0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd the other contracts will be deployed if this proposal passes and we can link to the deployment document with all addresses.
Optimism Relationship
Does your project solve a problem for the Optimism ecosystem? If so how?
&
Why will this solution be a source of growth for the Optimism ecosystem?:
Optimism is sorely missing a donation platform to fund public goods where they can donate whenever they want & get rewarded for their support. If someone wants to donate some of their profits to a for-good project, they must bridge to mainnet first. Giveth wants to change that!Not only can Giveth bring hundreds of already verified Public Goods projects to the Optimism network, we can also integrate and enhance the retroPGF system.We can enable projects on Giveth to raise funds on Optimism and any donation to verified projects on Optimism would get up to 80 % of their donation back in GIV tokens through our GIVbacks program on Optimism.GIVbacks is a Public Goods lego that could plug in nicely to the Retroactive Public Goods Funding program. Any funding to a verified project would receive GIVbacks. For example if a project (outside of the Optimism team) is providing an alternate RPC, they could qualify as a verified project and donations to support them would be eligible for GIVbacks.Learn more about GIVbacks here: What if giving gave back? Using web 3 to evolve philanthropy. | by Lauren | Giveth Giveth enables anyone working to produce public goods to raise funds with crypto.But this is just the beginning. Giveth hopes to help projects evolve past donations and sacrifice. Public goods are not just a feel-good, heartwarming act of kindness. They are a $ 25 Trillion USD global market, and in our opinion the most overlooked web 3 opportunity. We have the opportunity to disrupt this sector with web 3 tooling & Giveth is positioned to lead the way. Check out this awesome video from Devcon with Griff describing this opportunity at length, while also giving a shout out to OP and RPGF. (https://www.youtube.com/watch?v=DBGoX 7 DON 54 )Crypto donations are witnessing incredible growth. The total annual volume of crypto donations grew by 1 , 558 % or more than 16 x from 2020 to 2021 , (Source: TheGivingBlock) and with well over $ 50 Million USD in crypto donated to support Ukraine, 2022 likely saw a similar increase. Giveth can bring this growing use case to Optimism.
Is your project Optimism Native?:
No.
Confirmations
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: [Yes/No]:
Yes
I understand that I will be expected to following the public grant reporting requirements outlined here: [Yes/No]:
Yes
The proposal outlines Giveth's plan to bring its incentivized web 3 donation platform to Optimism. The project aims to reward verified projects and donors with GIV tokens and create an incentivized staking and locking system. Giveth has a track record since 2016, with thousands of projects and donors on the platform. The grant request of $40k OP will be used to incentivize donations, provide liquidity, and drive user engagement on Optimism. Milestones include integrating the donation application onto Optimism, project growth metrics, and maintaining liquidity with a clear roadmap for accountability. The project intends to enhance the Optimism ecosystem by facilitating donations to public goods and enabling GIVbacks to incentivize participation. Additional background on the team, previous projects, and competitive landscape is provided.
Michael: Thank you for submitting this grant application! Throughout the application process, this forum thread will be one of the official means of communication. Please be sure to monitor it for updates over the course of the review period.
At this stage, applications are mainly being reviewed for completeness, and nothing at this stage should be construed as support or opposition by any members of the Grants Council.
A little bit of feedback (keep in mind that this is just one council member’s opinion and does not represent the views of the entire council):
Griff:
To allow GIV to be given to donors on Optimism, we would need to have a liquid market on Optimism, otherwise we would be driving people off the chain. This is why we’d want to build our way up to a sizable LP with Optimism. This OP will not be sold, it will simply be held in an LP for perpetuity. We would be very happy to hold it in a multisig with other members of the optimism community so that Giveth doesn’t have control over it if that is deemed necessary.
In my opinion, this part of the proposal is what really causes some hesitation. Given that $GIV is an inflationary token, I view any kind of liquidity pair with grant-provided $OP a direct subsidy to the $GIV token price which is something I’d like to avoid. I’m happy to change my mind if there is anything that you can clarify on this front.
I think the much stronger parts of the proposal are those incentivizing projects to launch campaigns on Optimism on your platform. In order to make the proposal stronger, my suggestions would be to reduce the size of the grant and eliminate the liquidity pool provision.
Giveth is a great platform and it would be great to see you have a home on Optimism. Feel free to let me know if you have any questions.
Project name:
Giveth
Author name and contact info (please provide a reliable point of contact for t…
Project name:
Giveth
Author name and contact info (please provide a reliable point of contact for the project):
Griff Green, Telegram: @griffgreen
L 2 recipient address:
0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd (giv.eth)
Which Voting Cycle are you applying for?:
11
Which sub-committee should review your proposal? (Builders Grants, Growth Experiment Grants):
Growth Experiment Grants
I confirm that I have read the landing pages for the Builders 28 2 and Growth Experiments 28 10 Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Growth Experiments Sub-Committee: [Yes/No]:
Yes
I understand that Growth Experiments grants are subject to a “no sale rule,” as explained in this post, and I have read the terms of the rule: [Yes/No]:
Yes
Project Details
What are you building?:
I will keep this cycle’s proposal as brief as I can as there are many questions to answer and the previous proposal gives a lot of detail into what we are building.
[DRAFT][Phase 1 Proposal] Giveth Grants Council Cycle 10 - 11
Project name: Giveth
Author name and contact info (please provide a reliable point of contact for the project):
Griff Green, Telegram: @griffgreen
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes
I understand that I will be expected to following the public grant reporting requirements outlined here: Yes
L 2 recipient address: 0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd (giv.eth)
Which Voting Cycle are you applyin…
The TL;DR is that Giveth has an incentivized web 3 donation platform on Mainnet and Gnosis Chain and we would like to bring the entire application to Optimism. We will reward donations on Optimism to verified projects and we will launch an incentivized staking and locking system called GIVpower. Both of these systems will be rewarded in GIV, streamed over time on Optimism, which will bring users back to the Optimism chain again and again to claim their rewards until the GIVstream ends on December 23 rd, 2026 .
Why do you believe what you are building is going to succeed?:
We have been around since 2016 and aren’t going anywhere. Our current version of the donation application rewards donors in a similar way as tax deductions, but without the borders or bureaucracy. Donors are rewarded when they donate to any verified project anywhere in the world. They aren’t rewarded with paperwork though, they are rewarded with $GIV. This is a web 3 improvement on the subsidy model for nonprofits that has been used around the world with great success.
$GIV’s token model is very similar to veCRV, except the locked tokens determine the donation mining rewards instead of liquidity mining rewards.
Regen instead of Degen.
But our mission is much larger than the current state of the GIVeconomy. Our goal is to enable nonprofits to create their own economies that can reward them for their work.
We believe nonprofits create value, and that economies can be created around that value. If this theory is true, we will succeed, as we are further along this path than anyone else.
Our very close partner, Commons Stack, helped deploy a nonprofit microeconomy called the Token Engineering Commons, which has only donated to projects supporting the Token Engineering space. It has had no other token utility other than governance over it’s small pot of funds and yet their token price has actually beat the price of ether!
When the TEC was launched in 2021 , ether was $ 3300 and TEC was $ 1 . As of time of writing, nearly 2 years later, ether is down ~ 50 % and TEC is only down ~ 30 %. This is very encouraging. Commons Stack has learned a lot from the TEC and has improved the design pattern and is now partnering with ReFi DAO to continue this applied research by deploying many more of these microeconomics. This research will end up being used to build a path for projects on Giveth to follow so they can also launch their own microeconomies.
This long term vision is well outlined here: Evolving Nonprofits into Regen Economies | by Griff Green | Giveth 1
How many users does your project have currently? Please include how you arrived at this estimate:
Since 2021 on our current iteration of the Giveth DApp (excluding the previsions iterations) we have had more than 2 , 300 projects created, and over 1 , 400 of those have been verified by our team to be legitimate public goods projects.
We have had over 15 , 000 donations (obtained from our development team) from 4 , 500 unique donors for over $ 1 . 6 mil. This data can be obtained here: https://analytics-dashboard-blue.vercel.app/ 5
How will receiving a grant enable you to further the mission of maximizing the number of users interacting with Optimism? Please include a step-by-step flow of how you imagine this grant can lead to a greater number of user interactions with Optimism:
With this grant we will build out the Giveth ecosystem on Optimism. There are no donation platforms on Optimism as far as I know. This use case is completely missing, and for a project focused around public goods, we believe there will be a lot of users willing to donate, more on average than most chains. Giveth’s system will lock them into the Optimism ecosystem for the next several years.
We will:
Enable projects to collect donations on Optimism.
Enable Optimism users to donate ANY token in the Optimism network to their favorite nonprofits.
Reward donors to verified projects on Optimism with GIVbacks streamed for the next several years on Optimism.
Allow GIV holders on Optimism to stake and lock their tokens in GIVpower for governance rights to boost projects. Boosted projects show up higher on our home page and give more GIVbacks to their donors.
Reward GIVpower users that have staked and locked their GIV will earn a yield in GIV streamed for the next several years on Optimism .
Our rewards programs are sticky. When a donor donates to a verified project, or when someone stakes GIV, they get some liquid GIV and a GIVstream that will stream GIV to them until Dec 2026 .
This means, any donor or staker on Optimism will be coming back to the Optimism network to collect their GIV for the next several years. Giveth has been active in the Ethereum community since 2016 and isn’t going anywhere, our token is more likely to have value for the next several years than most teams that apply to this grant process IMO.
This grant will be used to provide long term liquidity for GIV to keep users on the chain for the next several years.
Tell us about the users you plan to target with this grant. Include any defining characteristics that will help you identify and target them.:
We are targeting nonprofits, public goods projects, Refi projects, impact DAOs and crypto donors of all kinds. More specifically:
Nonprofits: Any organizations in the non-profit space regardless of the regional scope and legal status. We aim to target it with partnerships with organizations already working with many of these actors.
Public goods projects: Any project working for public goods, including community projects, activists and all efforts intending to provide public goods. This is the broader target. We aim to target it with partnerships with organizations already working with many of these actors.
ReFi projects & Impact DAOs: Web 3 native projects focused on making a positive impact. These projects are growing exponentially. In a very niche space where Giveth is well-positioned to capture.
Crypto Donors: Basically anyone who has crypto and isn’t a 100 % full on degen. This is a large market, which depends on the world situation. For instance, the war in Ukraine and the earthquakes in Turkey & Syria turned many Ukrainian and Turkish crypto users into donors, even if they didn’t probably didn’t consider themselves donors before those events.
Over $ 50 million was raised by Ukraine projects in crypto and over $ 6 million for Turkey and Syria so far.
Chainalysis – 21 Feb 23
Crypto Donations Provide Fast Relief for Earthquake Victims in Turkey and...
"Cryptocurrency has been a major factor in helping people in humanitarian crises, as it has brought millions of dollars in aid to Ukraine. Read more here."
Est. reading time: 4 minutes
Just last week 1 inch donated $ 100 k to Earthquake Relief projects on Giveth. As a DAO that doesn’t pay taxes, Giveth is the natural choice for donations as 1 inch can’t get a tax deduction, but they can receive GIVbacks.
Our verification team and GIVbacks for donors sets us apart from most of the crypto donation space and we are confident that as more people realize that donating on Giveth is a safer and more rewarding experience than donating to random addresses they find on Twitter, we will capture more and more of the crypto donation market.
Expanding to Optimism helps us achieve that mission. Gnosis chain is our only chain for low cost transactions, but it has very few users. Optimism is very aligned with our mission and has a much higher TVL. We expect many of our future donors to prefer to use Optimism for cheap donations as opposed to Gnosis Chain.
How would these users interact with Optimism? For how long?:
Donors would be able to donate on Optimism. When they do, they will get GIVbacks which will lock them to the Optimism chain as they will get a stream of GIV until Dec 2026 .
Projects will have a donation address on Optimism and will receive donations at that address as long as they maintain their project on Giveth in good standing.
GIVpower users will consider bridging to Optimism to get exposure to the APRs for staking and locking their GIV, which will lock them to the Optimism chain as they will get a stream of GIV until Dec 2026 .
Provide us with links to any of the following for the project:
Demo:
Project owners 101 course: https://www.youtube.com/watch?v=QgC 05 uGTaZo&list=PL 4 Artm 1 rmCWFi-qEkOtjl 9 nL 4 tojSIIKm Donors 101 course: https://www.youtube.com/watch?v=-JXwwIGJGQQ&list=PL 4 Artm 1 rmCWH 4 Q 5 XnrQWf 8 fm 0 xob 3 hbdZ
Website: https://giveth.io/ 3
Twitter: x.com 6
Discord/Discourse/Community: Discord / https://forum.giveth.io/
Github: Giveth · GitHub
Technical/Economic Documentation: https://docs.giveth.io/
Other: Giveth talk: The Biggest Web 3 Opportunity That No One Is Talking About (https://www.youtube.com/watch?v=ADSOVkujrI 4 )Deck: https://giveth.io/deck GIVpower launch video: https://youtu.be/KvMR- 6 JQ_fc
Do you have any metrics on the project currently? (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.):
Since our launch at the end of December last year, we have helped raise over $ 1 . 5 million to projects on our platform. We have this dashboard with key stats of the platform connected to our backend https://analytics-dashboard-blue.vercel.app/
5 But here is a summary of the main metrics from December 2021 to March 2023 ( 15 months):
Projects created: 2015
Donors: 3384
Total donations value: 1 . 56 Million USD
Who are your competitors, and are they on Optimism?:
There is no competition in funding Public Goods!But at our core right now, we are a donation platform so some similar projects are:GitcoinClr.fundThe Giving BlockNone of these platforms have launched on Optimism. Additionally, we believe we complement these projects well as we are running our benefits for donating 24 / 7 as opposed to quarterly rounds & have key differentiators like the GIVbacks program. We have integrated The Giving Block Projects on Giveth and are actively collaborating with Gitcoin. (Gitcoin & Giveth Partnership - QF integration + beyond! - GIVernance - Giveth Forum: Join the conversation to shape the Future of Giving 1
Please link to code audits (if any):
The GIVeconomy contracts were formally audited by Oleksii Matiiasevych, one of the devs that initially developed Tether & the first person to ever create a token on Ethereum. The audit found four minor issues that have since been resolved.
Audit link: code-reviews/Giveth GIVeconomy Contracts Code Review.pdf at main · lastperson/code-reviews · GitHub 2
The code was also reviewed closely by Jordi Baylina from PolygonHermez, Eduardo Diez of DAppnode, and several other well respected members of our community. We have many white hat friends, as we were started by the White Hat Group, and they help us pro bono a lot, but we rarely get formal reports.
Team:
Giveth has an incredible community of well over 50 + active contributors, below are many of the active contributors people may know. 1596 × 896 309 KB
Who are your founders?:
Griff Green is the most active co-founder of Giveth. He is also a co-founder of Commons Stack, Trusted Seed, Praise & dappnode. Community manager for TheDAO, led the crisis response effort for TheDAO Hack and first Parity Multisig Hack from every angle, co-founder of the White Hat Group and led the creation of Token Engineering Commons. Advisor for PolygonID, PolygonHermez, brightID, Doingud, and steward for Gitcoin, ENS & actually Optimism as well ;-D
Jordi Baylina, Grace Torrelles and Vojtech Simetka are the other founders, however Giveth was founded nearly 7 years ago and these 3 only occasionally contribute to Giveth. Jordi contributes the most by writing and reviewing most of our smart contracts, including the ones we will deploy on Optimism.
What makes your team well-suited to carry out the project described in this proposal?
We have a strong & robust team that has led us to the successful launch of the system we are proposing on Gnosis Chain where we have grown our community up until now. We intend to further grow our community in Optimism.
Is this your first Web 3 project?:
No.
If not, what else have you built? (Share links, Github repository, or any other useful information.):
TheDAOWhite Hat GroupAragon (https://aragon.org/)Status (https://status.im/)iden 3 (https://iden 3 .io/)Polygon Hermez (https://polygon.technology/solutions/polygon-hermez/) 1 hive (https:// 1 hive.org/)xDai - now Gnosis Chain (https://www.gnosischain.com/)Commons Stack (https://commonsstack.org/)Token Engineering Commons (https://tecommons.org/)brightID (https://www.brightid.org/)dappnode (https://www.dappnode.io/)General Magic (https://www.generalmagic.io/)
Grant Request
What is the size of the grant request? ( 250 k OP max):
40 k $OP
How do you justify the size of the grant?:
16 k $OP would be rewarded to the first 640 verified public good projects on Giveth that add an $OP donation address. This is important to bootstrap the network effect of Optimism on our platform
24 K $OP will be given out as a milestone based on usage and will be used to create an LP against GIV to allow GIV to have a secondary market on Optimism. Giveth will use its own GIV and pair it with the OP to make a 50 / 50 liquidity pool on the best dex as advised by the Optimism Grants committee (probably Velodrome if we can get GIV whitelisted).
This is much less than the original request as we intend to use some of the OP that we received from RPGF round 2 to create our own LP.
To allow GIV to be given to donors on Optimism, we would need to have a liquid market on Optimism, otherwise we would be driving people off the chain. This is why we’d want to build our way up to a sizable LP with Optimism. This OP will not be sold, it will simply be held in an LP for perpetuity. We would be very happy to hold it in a multisig with other members of the optimism community so that Giveth doesn’t have control over it if that is deemed necessary.
In my honest opinion, this is much better than liquidity mining. We can do that though. We can create an OP/GIV farm on Optimism and “rent” the liquidity, but Sushiswap APRs for OP/ETH is > 80 % so for a OP/GIV pool, I would expect it to find a balance at ~ 150 %. This would mean around 100 k OP would get us $ 400 k of liquidity for < 6 months (assuming the price stays stable).
We can do that and I will outline some cool ways to do so in comments below in the next few days as an alternative, but we truly believe a token swap approach is much more beneficial for the Optimism ecosystem, so that is what we have included in this proposal.
Roadmap and Distribution Plan
Describe in discrete steps how you will successfully implement your grant plan. How will the OP tokens be distributed? (please include % allocated to different initiatives such as user rewards/marketing/liquidity mining. Please also include a justification as to why each of these initiatives align with the problem statement this proposal is solving. Distribution should not include the sale of any tokens by the grantee or the use of tokens for compensation, protocol expenses, etc. See the no sale rule here 1 ):
Formatting in Discourse is hard so I made a table in this Google Doc:
docs.google.com
Giveth x Optimism Milestones 11
Milestones Onboard We would like to add our Donation Application (https://giveth.io) to the Optimism chain so that every project on Giveth can raise funds with Optimism. Summary for this funding: We’d like to ask for 24 K Optimism to create an LP...
Screen Shot 2023 - 03 - 30 at 8 . 20 . 19 PM 1184 × 1874 169 KB
Over what period of time will the tokens be distributed for each initiative?:
These metrics should all be achieved within 6 months of receiving the grant for Optimism.
Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project throughout your work on the project. Do not use distribution of the grant itself as a milestone:
I believe this is answered above. I will also link again our blog on our goals for 2023 , we have lots of important milestones there as well: 2023 Giveth Looking Forward. ?️♂️ Watch out, 2023 , Giveth is… | by Dr Suga | Giveth
Please define critical milestones for this project. Critical milestones are meant to show good-faith efforts to accomplish the project. Non-completion of these milestones could lead to revocation of remaining grant rewards. Do not use distribution of the grant itself as a milestone:
I believe this is answered above.
If the OP tokens are for direct distribution to users, why will incentivized users and liquidity on Optimism remain after incentives dry up?:
We will be using the GIV token for rewards so we don’t need to be continually asking for more funds from Optimism and users will stay on Optimism to claim the GIV tokens that will be streamed to them until the end of 2026 .
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.):
Our main multisig on Optimism is at 0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd the other contracts will be deployed if this proposal passes and we can link to the deployment document with all addresses.
Optimism Relationship
Does your project solve a problem for the Optimism ecosystem? If so how?
&
Why will this solution be a source of growth for the Optimism ecosystem?:
Optimism is sorely missing a donation platform to fund public goods where they can donate whenever they want & get rewarded for their support. If someone wants to donate some of their profits to a for-good project, they must bridge to mainnet first. Giveth wants to change that!Not only can Giveth bring hundreds of already verified Public Goods projects to the Optimism network, we can also integrate and enhance the retroPGF system.We can enable projects on Giveth to raise funds on Optimism and any donation to verified projects on Optimism would get up to 80 % of their donation back in GIV tokens through our GIVbacks program on Optimism.GIVbacks is a Public Goods lego that could plug in nicely to the Retroactive Public Goods Funding program. Any funding to a verified project would receive GIVbacks. For example if a project (outside of the Optimism team) is providing an alternate RPC, they could qualify as a verified project and donations to support them would be eligible for GIVbacks.Learn more about GIVbacks here: What if giving gave back? Using web 3 to evolve philanthropy. | by Lauren | Giveth 2 Giveth enables anyone working to produce public goods to raise funds with crypto.But this is just the beginning. Giveth hopes to help projects evolve past donations and sacrifice. Public goods are not just a feel-good, heartwarming act of kindness. They are a $ 25 Trillion USD global market, and in our opinion the most overlooked web 3 opportunity. We have the opportunity to disrupt this sector with web 3 tooling & Giveth is positioned to lead the way. Check out this awesome video from Devcon with Griff describing this opportunity at length, while also giving a shout out to OP and RPGF. (https://www.youtube.com/watch?v=DBGoX 7 DON 54 )Crypto donations are witnessing incredible growth. The total annual volume of crypto donations grew by 1 , 558 % or more than 16 x from 2020 to 2021 , (Source: TheGivingBlock) and with well over $ 50 Million USD in crypto donated to support Ukraine, 2022 likely saw a similar increase. Giveth can bring this growing use case to Optimism.
Is your project Optimism Native?:
No.
Confirmations
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: [Yes/No]:
Yes
I understand that I will be expected to following the public grant reporting requirements outlined here: [Yes/No]:
Yes
Michael: Thank you for submitting this grant application! Throughout the application process, this forum thread will be one of the official means of communication. Please be sure to monitor it for updates over the course of the review period.
At this stage, applications are mainly being reviewed for completeness, and nothing at this stage should be construed as support or opposition by any members of the Grants Council.
A little bit of feedback (keep in mind that this is just one council member’s opinion and does not represent the views of the entire council):
Griff:
To allow GIV to be given to donors on Optimism, we would need to have a liquid market on Optimism, otherwise we would be driving people off the chain. This is why we’d want to build our way up to a sizable LP with Optimism. This OP will not be sold, it will simply be held in an LP for perpetuity. We would be very happy to hold it in a multisig with other members of the optimism community so that Giveth doesn’t have control over it if that is deemed necessary.
In my opinion, this part of the proposal is what really causes some hesitation. Given that $GIV is an inflationary token, I view any kind of liquidity pair with grant-provided $OP a direct subsidy to the $GIV token price which is something I’d like to avoid. I’m happy to change my mind if there is anything that you can clarify on this front.
I think the much stronger parts of the proposal are those incentivizing projects to launch campaigns on Optimism on your platform. In order to make the proposal stronger, my suggestions would be to reduce the size of the grant and eliminate the liquidity pool provision.
Giveth is a great platform and it would be great to see you have a home on Optimism. Feel free to let me know if you have any questions.
Project name: Giveth Author name and contact info (please provide a reliable point of contact for t…
Project name: Giveth Author name and contact info (please provide a reliable point of contact for the project): Griff Green, Telegram: @griffgreen L 2 recipient address: 0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd (giv.eth) Which Voting Cycle are you applying for?: 11 Which sub-committee should review your proposal? (Builders Grants, Growth Experiment Grants): Growth Experiment Grants I confirm that I have read the landing pages for the Builders 28 2 and Growth Experiments 28 4 Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Growth Experiments Sub-Committee: [Yes/No]: Yes I understand that Growth Experiments grants are subject to a “no sale rule,” as explained in this post, and I have read the terms of the rule: [Yes/No]: Yes Project Details What are you building?: I will keep this cycle’s proposal as brief as I can as there are many questions to answer and the previous proposal gives a lot of detail into what we are building. [DRAFT][Phase 1 Proposal] Giveth Grants Council Project name: Giveth Author name and contact info (please provide a reliable point of contact for the project): Griff Green, Telegram: @griffgreen I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes I understand that I will be expected to following the public grant reporting requirements outlined here: Yes L 2 recipient address: 0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd (giv.eth) Which Voting Cycle are you applyin… The TL;DR is that Giveth has an incentivized web 3 donation platform on Mainnet and Gnosis Chain and we would like to bring the entire application to Optimism. We will reward donations on Optimism to verified projects and we will launch an incentivized staking and locking system called GIVpower. Both of these systems will be rewarded in GIV, streamed over time on Optimism, which will bring users back to the Optimism chain again and again to claim their rewards until the GIVstream ends on December 23 rd, 2026 . Why do you believe what you are building is going to succeed?: We have been around since 2016 and aren’t going anywhere. Our current version of the donation application rewards donors in a similar way as tax deductions, but without the borders or bureaucracy. Donors are rewarded when they donate to any verified project anywhere in the world. They aren’t rewarded with paperwork though, they are rewarded with $GIV. This is a web 3 improvement on the subsidy model for nonprofits that has been used around the world with great success. $GIV’s token model is very similar to veCRV, except the locked tokens determine the donation mining rewards instead of liquidity mining rewards. Regen instead of Degen. But our mission is much larger than the current state of the GIVeconomy. Our goal is to enable nonprofits to create their own economies that can reward them for their work. We believe nonprofits create value, and that economies can be created around that value. If this theory is true, we will succeed, as we are further along this path than anyone else. Our very close partner, Commons Stack, helped deploy a nonprofit microeconomy called the Token Engineering Commons, which has only donated to projects supporting the Token Engineering space. It has had no other token utility other than governance over it’s small pot of funds and yet their token price has actually beat the price of ether! When the TEC was launched in 2021 , ether was $ 3300 and TEC was $ 1 . As of time of writing, nearly 2 years later, ether is down ~ 50 % and TEC is only down ~ 30 %. This is very encouraging. Commons Stack has learned a lot from the TEC and has improved the design pattern and is now partnering with ReFi DAO to continue this applied research by deploying many more of these microeconomics. This research will end up being used to build a path for projects on Giveth to follow so they can also launch their own microeconomies. This long term vision is well outlined here: Evolving Nonprofits into Regen Economies | by Griff Green | Giveth | Feb, 2023 | Medium 1 How many users does your project have currently? Please include how you arrived at this estimate: Since 2021 on our current iteration of the Giveth DApp (excluding the previsions iterations) we have had more than 2 , 300 projects created, and over 1 , 400 of those have been verified by our team to be legitimate public goods projects. We have had over 15 , 000 donations (obtained from our development team) from 4 , 500 unique donors for over $ 1 . 6 mil. This data can be obtained here: https://analytics-dashboard-blue.vercel.app/ 1 How will receiving a grant enable you to further the mission of maximizing the number of users interacting with Optimism? Please include a step-by-step flow of how you imagine this grant can lead to a greater number of user interactions with Optimism: With this grant we will build out the Giveth ecosystem on Optimism. There are no donation platforms on Optimism as far as I know. This use case is completely missing, and for a project focused around public goods, we believe there will be a lot of users willing to donate, more on average than most chains. Giveth’s system will lock them into the Optimism ecosystem for the next several years. We will: Enable projects to collect donations on Optimism. Enable Optimism users to donate ANY token in the Optimism network to their favorite nonprofits. Reward donors to verified projects on Optimism with GIVbacks streamed for the next several years on Optimism. Allow GIV holders on Optimism to stake and lock their tokens in GIVpower for governance rights to boost projects. Boosted projects show up higher on our home page and give more GIVbacks to their donors. Reward GIVpower users that have staked and locked their GIV will earn a yield in GIV streamed for the next several years on Optimism . Our rewards programs are sticky. When a donor donates to a verified project, or when someone stakes GIV, they get some liquid GIV and a GIVstream that will stream GIV to them until Dec 2026 . This means, any donor or staker on Optimism will be coming back to the Optimism network to collect their GIV for the next several years. Giveth has been active in the Ethereum community since 2016 and isn’t going anywhere, our token is more likely to have value for the next several years than most teams that apply to this grant process IMO. This grant will be used to provide long term liquidity for GIV to keep users on the chain for the next several years. Tell us about the users you plan to target with this grant. Include any defining characteristics that will help you identify and target them.: We are targeting nonprofits, public goods projects, Refi projects, impact DAOs and crypto donors of all kinds. More specifically: Nonprofits: Any organizations in the non-profit space regardless of the regional scope and legal status. We aim to target it with partnerships with organizations already working with many of these actors. Public goods projects: Any project working for public goods, including community projects, activists and all efforts intending to provide public goods. This is the broader target. We aim to target it with partnerships with organizations already working with many of these actors. ReFi projects & Impact DAOs: Web 3 native projects focused on making a positive impact. These projects are growing exponentially. In a very niche space where Giveth is well-positioned to capture. Crypto Donors: Basically anyone who has crypto and isn’t a 100 % full on degen. This is a large market, which depends on the world situation. For instance, the war in Ukraine and the earthquakes in Turkey & Syria turned many Ukrainian and Turkish crypto users into donors, even if they didn’t probably didn’t consider themselves donors before those events. Over $ 50 million was raised by Ukraine projects in crypto and over $ 6 million for Turkey and Syria so far. Chainalysis – 21 Feb 23 Crypto Donations Provide Fast Relief for Earthquake Victims in Turkey and... With a death toll now surpassing 47 , 000 , the devastating earthquake on February 6 in Turkey and Syria have left many worldwide feeling powerless to help. Additionally, Est. reading time: 4 minutes Just last week 1 inch donated $ 100 k to Earthquake Relief projects on Giveth. As a DAO that doesn’t pay taxes, Giveth is the natural choice for donations as 1 inch can’t get a tax deduction, but they can receive GIVbacks. Our verification team and GIVbacks for donors sets us apart from most of the crypto donation space and we are confident that as more people realize that donating on Giveth is a safer and more rewarding experience than donating to random addresses they find on Twitter, we will capture more and more of the crypto donation market. Expanding to Optimism helps us achieve that mission. Gnosis chain is our only chain for low cost transactions, but it has very few users. Optimism is very aligned with our mission and has a much higher TVL. We expect many of our future donors to prefer to use Optimism for cheap donations as opposed to Gnosis Chain. How would these users interact with Optimism? For how long?: Donors would be able to donate on Optimism. When they do, they will get GIVbacks which will lock them to the Optimism chain as they will get a stream of GIV until Dec 2026 . Projects will have a donation address on Optimism and will receive donations at that address as long as they maintain their project on Giveth in good standing. GIVpower users will consider bridging to Optimism to get exposure to the APRs for staking and locking their GIV, which will lock them to the Optimism chain as they will get a stream of GIV until Dec 2026 . Provide us with links to any of the following for the project: Demo: Project owners 101 course: Giveth Project Owners 101 - YouTube Donors 101 course: Why Giveth? - YouTube Website: https://giveth.io/ 3 Twitter: https://twitter.com/Givethio 6 Discord/Discourse/Community: Discord / https://forum.giveth.io/ Github: Giveth · GitHub Technical/Economic Documentation: https://docs.giveth.io/ Other: Giveth talk: The Biggest Web 3 Opportunity That No One Is Talking About (The Biggest Web 3 Opportunity That No One Is Talking About Griff Green - YouTube)Deck: https://giveth.io/deck GIVpower launch video: GIVpower - Boost public goods to the next level! - YouTube Do you have any metrics on the project currently? (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): Since our launch at the end of December last year, we have helped raise over $ 1 . 5 million to projects on our platform. We have this dashboard with key stats of the platform connected to our backend https://analytics-dashboard-blue.vercel.app/ 1 But here is a summary of the main metrics from December 2021 to March 2023 ( 15 months): Projects created: 2015 Donors: 3384 Total donations value: 1 . 56 Million USD Who are your competitors, and are they on Optimism?: There is no competition in funding Public Goods!But at our core right now, we are a donation platform so some similar projects are:GitcoinClr.fundThe Giving BlockNone of these platforms have launched on Optimism. Additionally, we believe we complement these projects well as we are running our benefits for donating 24 / 7 as opposed to quarterly rounds & have key differentiators like the GIVbacks program. We have integrated The Giving Block Projects on Giveth and are actively collaborating with Gitcoin. (Gitcoin & Giveth Partnership - QF integration + beyond! - GIVernance - Giveth Forum: Join the conversation to shape the Future of Giving Please link to code audits (if any): The GIVeconomy contracts were formally audited by Oleksii Matiiasevych, one of the devs that initially developed Tether & the first person to ever create a token on Ethereum. The audit found four minor issues that have since been resolved. Audit link: code-reviews/Giveth GIVeconomy Contracts Code Review.pdf at main · lastperson/code-reviews · GitHub 2 The code was also reviewed closely by Jordi Baylina from PolygonHermez, Eduardo Diez of DAppnode, and several other well respected members of our community. We have many white hat friends, as we were started by the White Hat Group, and they help us pro bono a lot, but we rarely get formal reports. Team: Giveth has an incredible community of well over 50 + active contributors, below are many of the active contributors people may know. 1596 × 896 309 KB Who are your founders?: Griff Green is the most active co-founder of Giveth. He is also a co-founder of Commons Stack, Trusted Seed, Praise & dappnode. Community manager for TheDAO, led the crisis response effort for TheDAO Hack and first Parity Multisig Hack from every angle, co-founder of the White Hat Group and led the creation of Token Engineering Commons. Advisor for PolygonID, PolygonHermez, brightID, Doingud, and steward for Gitcoin, ENS & actually Optimism as well ;-D Jordi Baylina, Grace Torrelles and Vojtech Simetka are the other founders, however Giveth was founded nearly 7 years ago and these 3 only occasionally contribute to Giveth. Jordi contributes the most by writing and reviewing most of our smart contracts, including the ones we will deploy on Optimism. What makes your team well-suited to carry out the project described in this proposal? We have a strong & robust team that has led us to the successful launch of the system we are proposing on Gnosis Chain where we have grown our community up until now. We intend to further grow our community in Optimism. Is this your first Web 3 project?: No. If not, what else have you built? (Share links, Github repository, or any other useful information.): TheDAOWhite Hat GroupAragon (https://aragon.org/)Status (https://status.im/)iden 3 (https://iden 3 .io/)Polygon Hermez (https://polygon.technology/solutions/polygon-hermez/) 1 hive (https:// 1 hive.org/)xDai - now Gnosis Chain (https://www.gnosischain.com/)Commons Stack (https://commonsstack.org/)Token Engineering Commons (https://tecommons.org/)brightID (https://www.brightid.org/)dappnode (https://www.dappnode.io/)General Magic (https://www.generalmagic.io/) Grant Request What is the size of the grant request? ( 250 k OP max): 40 k $OP How do you justify the size of the grant?: 16 k $OP would be rewarded to the first 640 verified public good projects on Giveth that add an $OP donation address. This is important to bootstrap the network effect of Optimism on our platform 24 K $OP will be given out as a milestone based on usage and will be used to create an LP against GIV to allow GIV to have a secondary market on Optimism. Giveth will use its own GIV and pair it with the OP to make a 50 / 50 liquidity pool on the best dex as advised by the Optimism Grants committee (probably Velodrome if we can get GIV whitelisted). This is much less than the original request as we intend to use some of the OP that we received from RPGF round 2 to create our own LP. To allow GIV to be given to donors on Optimism, we would need to have a liquid market on Optimism, otherwise we would be driving people off the chain. This is why we’d want to build our way up to a sizable LP with Optimism. This OP will not be sold, it will simply be held in an LP for perpetuity. We would be very happy to hold it in a multisig with other members of the optimism community so that Giveth doesn’t have control over it if that is deemed necessary. In my honest opinion, this is much better than liquidity mining. We can do that though. We can create an OP/GIV farm on Optimism and “rent” the liquidity, but Sushiswap APRs for OP/ETH is > 80 % so for a OP/GIV pool, I would expect it to find a balance at ~ 150 %. This would mean around 100 k OP would get us $ 400 k of liquidity for < 6 months (assuming the price stays stable). We can do that and I will outline some cool ways to do so in comments below in the next few days as an alternative, but we truly believe a token swap approach is much more beneficial for the Optimism ecosystem, so that is what we have included in this proposal. Roadmap and Distribution Plan Describe in discrete steps how you will successfully implement your grant plan. How will the OP tokens be distributed? (please include % allocated to different initiatives such as user rewards/marketing/liquidity mining. Please also include a justification as to why each of these initiatives align with the problem statement this proposal is solving. Distribution should not include the sale of any tokens by the grantee or the use of tokens for compensation, protocol expenses, etc. See the no sale rule here 1 ): Formatting in Discourse is hard so I made a table in this Google Doc: docs.google.com Giveth x Optimism Milestones 8 Milestones Onboard We would like to add our Donation Application (https://giveth.io) to the Optimism chain so that every project on Giveth can raise funds with Optimism. Summary for this funding: We’d like to ask for 24 K Optimism to create an LP... Screen Shot 2023 - 03 - 30 at 8 . 20 . 19 PM 1184 × 1874 169 KB Over what period of time will the tokens be distributed for each initiative?: These metrics should all be achieved within 6 months of receiving the grant for Optimism. Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project throughout your work on the project. Do not use distribution of the grant itself as a milestone: I believe this is answered above. I will also link again our blog on our goals for 2023 , we have lots of important milestones there as well: 2023 Giveth Looking Forward. ?️♂️ Watch out, 2023 , Giveth is… | by Dr Suga | Giveth | Medium Please define critical milestones for this project. Critical milestones are meant to show good-faith efforts to accomplish the project. Non-completion of these milestones could lead to revocation of remaining grant rewards. Do not use distribution of the grant itself as a milestone: I believe this is answered above. If the OP tokens are for direct distribution to users, why will incentivized users and liquidity on Optimism remain after incentives dry up?: We will be using the GIV token for rewards so we don’t need to be continually asking for more funds from Optimism and users will stay on Optimism to claim the GIV tokens that will be streamed to them until the end of 2026 . Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.): Our main multisig on Optimism is at 0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd the other contracts will be deployed if this proposal passes and we can link to the deployment document with all addresses. Optimism Relationship Does your project solve a problem for the Optimism ecosystem? If so how? & Why will this solution be a source of growth for the Optimism ecosystem?: Optimism is sorely missing a donation platform to fund public goods where they can donate whenever they want & get rewarded for their support. If someone wants to donate some of their profits to a for-good project, they must bridge to mainnet first. Giveth wants to change that!Not only can Giveth bring hundreds of already verified Public Goods projects to the Optimism network, we can also integrate and enhance the retroPGF system.We can enable projects on Giveth to raise funds on Optimism and any donation to verified projects on Optimism would get up to 80 % of their donation back in GIV tokens through our GIVbacks program on Optimism.GIVbacks is a Public Goods lego that could plug in nicely to the Retroactive Public Goods Funding program. Any funding to a verified project would receive GIVbacks. For example if a project (outside of the Optimism team) is providing an alternate RPC, they could qualify as a verified project and donations to support them would be eligible for GIVbacks.Learn more about GIVbacks here: What if giving gave back? Using web 3 to evolve philanthropy. | by Lauren | Giveth | Medium 2 Giveth enables anyone working to produce public goods to raise funds with crypto.But this is just the beginning. Giveth hopes to help projects evolve past donations and sacrifice. Public goods are not just a feel-good, heartwarming act of kindness. They are a $ 25 Trillion USD global market, and in our opinion the most overlooked web 3 opportunity. We have the opportunity to disrupt this sector with web 3 tooling & Giveth is positioned to lead the way. Check out this awesome video from Devcon with Griff describing this opportunity at length, while also giving a shout out to OP and RPGF. (The Biggest Web 3 Opportunity No One is Talking About! by Griff Green | Devcon Bogotá - YouTube)Crypto donations are witnessing incredible growth. The total annual volume of crypto donations grew by 1 , 558 % or more than 16 x from 2020 to 2021 , (Source: TheGivingBlock) and with well over $ 50 Million USD in crypto donated to support Ukraine, 2022 likely saw a similar increase. Giveth can bring this growing use case to Optimism. Is your project Optimism Native?: No. Confirmations I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: [Yes/No]: Yes I understand that I will be expected to following the public grant reporting requirements outlined here: [Yes/No]: Yes
Michael: Thank you for submitting this grant application! Throughout the application process, this forum thread will be one of the official means of communication. Please be sure to monitor it for updates over the course of the review period.
At this stage, applications are mainly being reviewed for completeness, and nothing at this stage should be construed as support or opposition by any members of the Grants Council.
A little bit of feedback (keep in mind that this is just one council member’s opinion and does not represent the views of the entire council):
Griff:
To allow GIV to be given to donors on Optimism, we would need to have a liquid market on Optimism, otherwise we would be driving people off the chain. This is why we’d want to build our way up to a sizable LP with Optimism. This OP will not be sold, it will simply be held in an LP for perpetuity. We would be very happy to hold it in a multisig with other members of the optimism community so that Giveth doesn’t have control over it if that is deemed necessary.
In my opinion, this part of the proposal is what really causes some hesitation. Given that $GIV is an inflationary token, I view any kind of liquidity pair with grant-provided $OP a direct subsidy to the $GIV token price which is something I’d like to avoid. I’m happy to change my mind if there is anything that you can clarify on this front.
I think the much stronger parts of the proposal are those incentivizing projects to launch campaigns on Optimism on your platform. In order to make the proposal stronger, my suggestions would be to reduce the size of the grant and eliminate the liquidity pool provision.
Giveth is a great platform and it would be great to see you have a home on Optimism. Feel free to let me know if you have any questions.
Project name: Giveth Author name and contact info (please provide a reliable point of contact for t…
Project name: Giveth Author name and contact info (please provide a reliable point of contact for the project): Griff Green, Telegram: @griffgreen L 2 recipient address: 0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd (giv.eth) Which Voting Cycle are you applying for?: 11 Which sub-committee should review your proposal? (Builders Grants, Growth Experiment Grants): Growth Experiment Grants I confirm that I have read the landing pages for the Builders 28 2 and Growth Experiments 28 7 Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Growth Experiments Sub-Committee: [Yes/No]: Yes I understand that Growth Experiments grants are subject to a “no sale rule,” as explained in this post, and I have read the terms of the rule: [Yes/No]: Yes Project Details What are you building?: I will keep this cycle’s proposal as brief as I can as there are many questions to answer and the previous proposal gives a lot of detail into what we are building. [DRAFT][Phase 1 Proposal] Giveth Grants Council Project name: Giveth Author name and contact info (please provide a reliable point of contact for the project): Griff Green, Telegram: @griffgreen I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes I understand that I will be expected to following the public grant reporting requirements outlined here: Yes L 2 recipient address: 0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd (giv.eth) Which Voting Cycle are you applyin… The TL;DR is that Giveth has an incentivized web 3 donation platform on Mainnet and Gnosis Chain and we would like to bring the entire application to Optimism. We will reward donations on Optimism to verified projects and we will launch an incentivized staking and locking system called GIVpower. Both of these systems will be rewarded in GIV, streamed over time on Optimism, which will bring users back to the Optimism chain again and again to claim their rewards until the GIVstream ends on December 23 rd, 2026 . Why do you believe what you are building is going to succeed?: We have been around since 2016 and aren’t going anywhere. Our current version of the donation application rewards donors in a similar way as tax deductions, but without the borders or bureaucracy. Donors are rewarded when they donate to any verified project anywhere in the world. They aren’t rewarded with paperwork though, they are rewarded with $GIV. This is a web 3 improvement on the subsidy model for nonprofits that has been used around the world with great success. $GIV’s token model is very similar to veCRV, except the locked tokens determine the donation mining rewards instead of liquidity mining rewards. Regen instead of Degen. But our mission is much larger than the current state of the GIVeconomy. Our goal is to enable nonprofits to create their own economies that can reward them for their work. We believe nonprofits create value, and that economies can be created around that value. If this theory is true, we will succeed, as we are further along this path than anyone else. Our very close partner, Commons Stack, helped deploy a nonprofit microeconomy called the Token Engineering Commons, which has only donated to projects supporting the Token Engineering space. It has had no other token utility other than governance over it’s small pot of funds and yet their token price has actually beat the price of ether! When the TEC was launched in 2021 , ether was $ 3300 and TEC was $ 1 . As of time of writing, nearly 2 years later, ether is down ~ 50 % and TEC is only down ~ 30 %. This is very encouraging. Commons Stack has learned a lot from the TEC and has improved the design pattern and is now partnering with ReFi DAO to continue this applied research by deploying many more of these microeconomics. This research will end up being used to build a path for projects on Giveth to follow so they can also launch their own microeconomies. This long term vision is well outlined here: Evolving Nonprofits into Regen Economies | by Griff Green | Giveth 1 How many users does your project have currently? Please include how you arrived at this estimate: Since 2021 on our current iteration of the Giveth DApp (excluding the previsions iterations) we have had more than 2 , 300 projects created, and over 1 , 400 of those have been verified by our team to be legitimate public goods projects. We have had over 15 , 000 donations (obtained from our development team) from 4 , 500 unique donors for over $ 1 . 6 mil. This data can be obtained here: https://analytics-dashboard-blue.vercel.app/ 3 How will receiving a grant enable you to further the mission of maximizing the number of users interacting with Optimism? Please include a step-by-step flow of how you imagine this grant can lead to a greater number of user interactions with Optimism: With this grant we will build out the Giveth ecosystem on Optimism. There are no donation platforms on Optimism as far as I know. This use case is completely missing, and for a project focused around public goods, we believe there will be a lot of users willing to donate, more on average than most chains. Giveth’s system will lock them into the Optimism ecosystem for the next several years. We will: Enable projects to collect donations on Optimism. Enable Optimism users to donate ANY token in the Optimism network to their favorite nonprofits. Reward donors to verified projects on Optimism with GIVbacks streamed for the next several years on Optimism. Allow GIV holders on Optimism to stake and lock their tokens in GIVpower for governance rights to boost projects. Boosted projects show up higher on our home page and give more GIVbacks to their donors. Reward GIVpower users that have staked and locked their GIV will earn a yield in GIV streamed for the next several years on Optimism . Our rewards programs are sticky. When a donor donates to a verified project, or when someone stakes GIV, they get some liquid GIV and a GIVstream that will stream GIV to them until Dec 2026 . This means, any donor or staker on Optimism will be coming back to the Optimism network to collect their GIV for the next several years. Giveth has been active in the Ethereum community since 2016 and isn’t going anywhere, our token is more likely to have value for the next several years than most teams that apply to this grant process IMO. This grant will be used to provide long term liquidity for GIV to keep users on the chain for the next several years. Tell us about the users you plan to target with this grant. Include any defining characteristics that will help you identify and target them.: We are targeting nonprofits, public goods projects, Refi projects, impact DAOs and crypto donors of all kinds. More specifically: Nonprofits: Any organizations in the non-profit space regardless of the regional scope and legal status. We aim to target it with partnerships with organizations already working with many of these actors. Public goods projects: Any project working for public goods, including community projects, activists and all efforts intending to provide public goods. This is the broader target. We aim to target it with partnerships with organizations already working with many of these actors. ReFi projects & Impact DAOs: Web 3 native projects focused on making a positive impact. These projects are growing exponentially. In a very niche space where Giveth is well-positioned to capture. Crypto Donors: Basically anyone who has crypto and isn’t a 100 % full on degen. This is a large market, which depends on the world situation. For instance, the war in Ukraine and the earthquakes in Turkey & Syria turned many Ukrainian and Turkish crypto users into donors, even if they didn’t probably didn’t consider themselves donors before those events. Over $ 50 million was raised by Ukraine projects in crypto and over $ 6 million for Turkey and Syria so far. Chainalysis – 21 Feb 23 Crypto Donations Provide Fast Relief for Earthquake Victims in Turkey and... "Cryptocurrency has been a major factor in helping people in humanitarian crises, as it has brought millions of dollars in aid to Ukraine. Read more here." Est. reading time: 4 minutes Just last week 1 inch donated $ 100 k to Earthquake Relief projects on Giveth. As a DAO that doesn’t pay taxes, Giveth is the natural choice for donations as 1 inch can’t get a tax deduction, but they can receive GIVbacks. Our verification team and GIVbacks for donors sets us apart from most of the crypto donation space and we are confident that as more people realize that donating on Giveth is a safer and more rewarding experience than donating to random addresses they find on Twitter, we will capture more and more of the crypto donation market. Expanding to Optimism helps us achieve that mission. Gnosis chain is our only chain for low cost transactions, but it has very few users. Optimism is very aligned with our mission and has a much higher TVL. We expect many of our future donors to prefer to use Optimism for cheap donations as opposed to Gnosis Chain. How would these users interact with Optimism? For how long?: Donors would be able to donate on Optimism. When they do, they will get GIVbacks which will lock them to the Optimism chain as they will get a stream of GIV until Dec 2026 . Projects will have a donation address on Optimism and will receive donations at that address as long as they maintain their project on Giveth in good standing. GIVpower users will consider bridging to Optimism to get exposure to the APRs for staking and locking their GIV, which will lock them to the Optimism chain as they will get a stream of GIV until Dec 2026 . Provide us with links to any of the following for the project: Demo: Project owners 101 course: https://www.youtube.com/watch?v=QgC 05 uGTaZo&list=PL 4 Artm 1 rmCWFi-qEkOtjl 9 nL 4 tojSIIKm Donors 101 course: https://www.youtube.com/watch?v=-JXwwIGJGQQ&list=PL 4 Artm 1 rmCWH 4 Q 5 XnrQWf 8 fm 0 xob 3 hbdZ Website: https://giveth.io/ 3 Twitter: https://twitter.com/Givethio 6 Discord/Discourse/Community: Discord / https://forum.giveth.io/ Github: Giveth · GitHub Technical/Economic Documentation: https://docs.giveth.io/ Other: Giveth talk: The Biggest Web 3 Opportunity That No One Is Talking About (https://www.youtube.com/watch?v=ADSOVkujrI 4 )Deck: https://giveth.io/deck GIVpower launch video: https://youtu.be/KvMR- 6 JQ_fc Do you have any metrics on the project currently? (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): Since our launch at the end of December last year, we have helped raise over $ 1 . 5 million to projects on our platform. We have this dashboard with key stats of the platform connected to our backend https://analytics-dashboard-blue.vercel.app/ 3 But here is a summary of the main metrics from December 2021 to March 2023 ( 15 months): Projects created: 2015 Donors: 3384 Total donations value: 1 . 56 Million USD Who are your competitors, and are they on Optimism?: There is no competition in funding Public Goods!But at our core right now, we are a donation platform so some similar projects are:GitcoinClr.fundThe Giving BlockNone of these platforms have launched on Optimism. Additionally, we believe we complement these projects well as we are running our benefits for donating 24 / 7 as opposed to quarterly rounds & have key differentiators like the GIVbacks program. We have integrated The Giving Block Projects on Giveth and are actively collaborating with Gitcoin. (Gitcoin & Giveth Partnership - QF integration + beyond! - GIVernance - Giveth Forum: Join the conversation to shape the Future of Giving Please link to code audits (if any): The GIVeconomy contracts were formally audited by Oleksii Matiiasevych, one of the devs that initially developed Tether & the first person to ever create a token on Ethereum. The audit found four minor issues that have since been resolved. Audit link: https://github.com/lastperson/code-reviews/blob/main/Giveth% 20 GIVeconomy% 20 Contracts% 20 Code% 20 Review.pdf 2 The code was also reviewed closely by Jordi Baylina from PolygonHermez, Eduardo Diez of DAppnode, and several other well respected members of our community. We have many white hat friends, as we were started by the White Hat Group, and they help us pro bono a lot, but we rarely get formal reports. Team: Giveth has an incredible community of well over 50 + active contributors, below are many of the active contributors people may know. 1596 × 896 309 KB Who are your founders?: Griff Green is the most active co-founder of Giveth. He is also a co-founder of Commons Stack, Trusted Seed, Praise & dappnode. Community manager for TheDAO, led the crisis response effort for TheDAO Hack and first Parity Multisig Hack from every angle, co-founder of the White Hat Group and led the creation of Token Engineering Commons. Advisor for PolygonID, PolygonHermez, brightID, Doingud, and steward for Gitcoin, ENS & actually Optimism as well ;-D Jordi Baylina, Grace Torrelles and Vojtech Simetka are the other founders, however Giveth was founded nearly 7 years ago and these 3 only occasionally contribute to Giveth. Jordi contributes the most by writing and reviewing most of our smart contracts, including the ones we will deploy on Optimism. What makes your team well-suited to carry out the project described in this proposal? We have a strong & robust team that has led us to the successful launch of the system we are proposing on Gnosis Chain where we have grown our community up until now. We intend to further grow our community in Optimism. Is this your first Web 3 project?: No. If not, what else have you built? (Share links, Github repository, or any other useful information.): TheDAOWhite Hat GroupAragon (https://aragon.org/)Status (https://status.im/)iden 3 (https://iden 3 .io/)Polygon Hermez (https://polygon.technology/solutions/polygon-hermez/) 1 hive (https:// 1 hive.org/)xDai - now Gnosis Chain (https://www.gnosischain.com/)Commons Stack (https://commonsstack.org/)Token Engineering Commons (https://tecommons.org/)brightID (https://www.brightid.org/)dappnode (https://www.dappnode.io/)General Magic (https://www.generalmagic.io/) Grant Request What is the size of the grant request? ( 250 k OP max): 40 k $OP How do you justify the size of the grant?: 16 k $OP would be rewarded to the first 640 verified public good projects on Giveth that add an $OP donation address. This is important to bootstrap the network effect of Optimism on our platform 24 K $OP will be given out as a milestone based on usage and will be used to create an LP against GIV to allow GIV to have a secondary market on Optimism. Giveth will use its own GIV and pair it with the OP to make a 50 / 50 liquidity pool on the best dex as advised by the Optimism Grants committee (probably Velodrome if we can get GIV whitelisted). This is much less than the original request as we intend to use some of the OP that we received from RPGF round 2 to create our own LP. To allow GIV to be given to donors on Optimism, we would need to have a liquid market on Optimism, otherwise we would be driving people off the chain. This is why we’d want to build our way up to a sizable LP with Optimism. This OP will not be sold, it will simply be held in an LP for perpetuity. We would be very happy to hold it in a multisig with other members of the optimism community so that Giveth doesn’t have control over it if that is deemed necessary. In my honest opinion, this is much better than liquidity mining. We can do that though. We can create an OP/GIV farm on Optimism and “rent” the liquidity, but Sushiswap APRs for OP/ETH is > 80 % so for a OP/GIV pool, I would expect it to find a balance at ~ 150 %. This would mean around 100 k OP would get us $ 400 k of liquidity for < 6 months (assuming the price stays stable). We can do that and I will outline some cool ways to do so in comments below in the next few days as an alternative, but we truly believe a token swap approach is much more beneficial for the Optimism ecosystem, so that is what we have included in this proposal. Roadmap and Distribution Plan Describe in discrete steps how you will successfully implement your grant plan. How will the OP tokens be distributed? (please include % allocated to different initiatives such as user rewards/marketing/liquidity mining. Please also include a justification as to why each of these initiatives align with the problem statement this proposal is solving. Distribution should not include the sale of any tokens by the grantee or the use of tokens for compensation, protocol expenses, etc. See the no sale rule here 1 ): Formatting in Discourse is hard so I made a table in this Google Doc: docs.google.com Giveth x Optimism Milestones 8 Milestones Onboard We would like to add our Donation Application (https://giveth.io) to the Optimism chain so that every project on Giveth can raise funds with Optimism. Summary for this funding: We’d like to ask for 24 K Optimism to create an LP... Screen Shot 2023 - 03 - 30 at 8 . 20 . 19 PM 1184 × 1874 169 KB Over what period of time will the tokens be distributed for each initiative?: These metrics should all be achieved within 6 months of receiving the grant for Optimism. Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project throughout your work on the project. Do not use distribution of the grant itself as a milestone: I believe this is answered above. I will also link again our blog on our goals for 2023 , we have lots of important milestones there as well: 2023 Giveth Looking Forward. ?️♂️ Watch out, 2023 , Giveth is… | by Dr Suga | Giveth Please define critical milestones for this project. Critical milestones are meant to show good-faith efforts to accomplish the project. Non-completion of these milestones could lead to revocation of remaining grant rewards. Do not use distribution of the grant itself as a milestone: I believe this is answered above. If the OP tokens are for direct distribution to users, why will incentivized users and liquidity on Optimism remain after incentives dry up?: We will be using the GIV token for rewards so we don’t need to be continually asking for more funds from Optimism and users will stay on Optimism to claim the GIV tokens that will be streamed to them until the end of 2026 . Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.): Our main multisig on Optimism is at 0 x 4 D 9339 dd 97 db 55 e 3 B 9 bCBE 65 dE 39 fF 9 c 04 d 1 C 2 cd the other contracts will be deployed if this proposal passes and we can link to the deployment document with all addresses. Optimism Relationship Does your project solve a problem for the Optimism ecosystem? If so how? & Why will this solution be a source of growth for the Optimism ecosystem?: Optimism is sorely missing a donation platform to fund public goods where they can donate whenever they want & get rewarded for their support. If someone wants to donate some of their profits to a for-good project, they must bridge to mainnet first. Giveth wants to change that!Not only can Giveth bring hundreds of already verified Public Goods projects to the Optimism network, we can also integrate and enhance the retroPGF system.We can enable projects on Giveth to raise funds on Optimism and any donation to verified projects on Optimism would get up to 80 % of their donation back in GIV tokens through our GIVbacks program on Optimism.GIVbacks is a Public Goods lego that could plug in nicely to the Retroactive Public Goods Funding program. Any funding to a verified project would receive GIVbacks. For example if a project (outside of the Optimism team) is providing an alternate RPC, they could qualify as a verified project and donations to support them would be eligible for GIVbacks.Learn more about GIVbacks here: What if giving gave back? Using web 3 to evolve philanthropy. | by Lauren | Giveth 2 Giveth enables anyone working to produce public goods to raise funds with crypto.But this is just the beginning. Giveth hopes to help projects evolve past donations and sacrifice. Public goods are not just a feel-good, heartwarming act of kindness. They are a $ 25 Trillion USD global market, and in our opinion the most overlooked web 3 opportunity. We have the opportunity to disrupt this sector with web 3 tooling & Giveth is positioned to lead the way. Check out this awesome video from Devcon with Griff describing this opportunity at length, while also giving a shout out to OP and RPGF. (https://www.youtube.com/watch?v=DBGoX 7 DON 54 )Crypto donations are witnessing incredible growth. The total annual volume of crypto donations grew by 1 , 558 % or more than 16 x from 2020 to 2021 , (Source: TheGivingBlock) and with well over $ 50 Million USD in crypto donated to support Ukraine, 2022 likely saw a similar increase. Giveth can bring this growing use case to Optimism. Is your project Optimism Native?: No. Confirmations I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: [Yes/No]: Yes I understand that I will be expected to following the public grant reporting requirements outlined here: [Yes/No]: Yes
Michael: Thank you for submitting this grant application! Throughout the application process, this forum thread will be one of the official means of communication. Please be sure to monitor it for updates over the course of the review period.
At this stage, applications are mainly being reviewed for completeness, and nothing at this stage should be construed as support or opposition by any members of the Grants Council.
A little bit of feedback (keep in mind that this is just one council member’s opinion and does not represent the views of the entire council):
Griff:
To allow GIV to be given to donors on Optimism, we would need to have a liquid market on Optimism, otherwise we would be driving people off the chain. This is why we’d want to build our way up to a sizable LP with Optimism. This OP will not be sold, it will simply be held in an LP for perpetuity. We would be very happy to hold it in a multisig with other members of the optimism community so that Giveth doesn’t have control over it if that is deemed necessary.
In my opinion, this part of the proposal is what really causes some hesitation. Given that $GIV is an inflationary token, I view any kind of liquidity pair with grant-provided $OP a direct subsidy to the $GIV token price which is something I’d like to avoid. I’m happy to change my mind if there is anything that you can clarify on this front.
I think the much stronger parts of the proposal are those incentivizing projects to launch campaigns on Optimism on your platform. In order to make the proposal stronger, my suggestions would be to reduce the size of the grant and eliminate the liquidity pool provision.
Giveth is a great platform and it would be great to see you have a home on Optimism. Feel free to let me know if you have any questions.
So beautiful, thank you for this lengthy proposal Griff.
I agree - renting liquidity through farmin…
So beautiful, thank you for this lengthy proposal Griff.
I agree - renting liquidity through farming programs is expensive and I think the token swap and LP approach is best.
I realize this is a hefty ask from Optimism but I think overall Giveth totally aligns with Optimisms RPGF themes. It seems a no-brainer that the Optimism should have a top of the line donation platform like Giveth for propagating public goods funding around crypto and also to the meatspace.
YES!!! I want to see Giveth on Optimism & serving the whole Superchain!!!
I see the ethos of both p…
YES!!! I want to see Giveth on Optimism & serving the whole Superchain!!!
I see the ethos of both projects very aligned & I believe Optimism can be the chain that hosts the most experiments for Funding Public Goods and in return, gets it’s public goods better funded to grow larger & more resilient.
Especially excited about seeing the ReFi space & regenerative economies growing here!
So beautiful, thank you for this lengthy proposal Griff. I agree - renting liquidity through farmin…
So beautiful, thank you for this lengthy proposal Griff. I agree - renting liquidity through farming programs is expensive and I think the token swap and LP approach is best. I realize this is a hefty ask from Optimism but I think overall Giveth totally aligns with Optimisms RPGF themes. It seems a no-brainer that the Optimism should have a top of the line donation platform like Giveth for propagating public goods funding around crypto and also to the meatspace.
YES!!! I want to see Giveth on Optimism & serving the whole Superchain!!! I see the ethos of both p…
YES!!! I want to see Giveth on Optimism & serving the whole Superchain!!! I see the ethos of both projects very aligned & I believe Optimism can be the chain that hosts the most experiments for Funding Public Goods and in return, gets it’s public goods better funded to grow larger & more resilient. Especially excited about seeing the ReFi space & regenerative economies growing here!
This grant has the potential to make a huge impact on the Optimism community by providing needed re…
This grant has the potential to make a huge impact on the Optimism community by providing needed resources. This could lead to a ripple effect of positivity and kindness, ultimately making the world a better place.
Wow, this is an epic proposal.
I woud love to see this come to fruition, and as a leader of our com…
Wow, this is an epic proposal.
I woud love to see this come to fruition, and as a leader of our comms team at Giveth, and product owner of the GIVeconomy, I would be super happy to support through the process from chain integration, to comms campaigns for Optimism usage, to GIVbacks implementation, to creating an GIV <> OP LP & beyond.
I think we have a lot of synergy between Giveth & Optimism, especially with our shared mission to use web 3 to effectively fund public goods, and I completely agree that giving Optimism users a donation platform with the reputation, proven systems & functionality of Giveth adds a critical donation lego to (and fills in a clear gap of) the Optimism network.
Yesterday I worked hard putting together this tweet thread outlining Giveth’s past contributions to Optimism for RetroPFG, and it has really stuck in my head the importance of having multiple EVM chains for scalability. I strongly believe that adding a donation platform to Optimism makes Optimism more versatile in its abilty to provide well-rounded public goods funding solutions - both for projects seeking retroactive funding, and for those who don’t qualify - and this is a value add to the entire web 3 ecosystem.
Also, would love to add to this: As of today, we have an incentivized web 3 donation platform on Mainnet, Gnosis Chain and Polygon! This 1 st level integration of a new EVM chain on Giveth is a great proof-of-concept. Our devs are well-practiced :wink:
Wow, this is an epic proposal.
I woud love to see this come to fruition, and as a leader of our com…
Wow, this is an epic proposal.
I woud love to see this come to fruition, and as a leader of our comms team at Giveth, and product owner of the GIVeconomy, I would be super happy to support through the process from chain integration, to comms campaigns for Optimism usage, to GIVbacks implementation, to creating an GIV <> OP LP & beyond.
I think we have a lot of synergy between Giveth & Optimism, especially with our shared mission to use web 3 to effectively fund public goods, and I completely agree that giving Optimism users a donation platform with the reputation, proven systems & functionality of Giveth adds a critical donation lego to (and fills in a clear gap of) the Optimism network.
Yesterday I worked hard putting together this tweet thread 1 outlining Giveth’s past contributions to Optimism for RetroPFG, and it has really stuck in my head the importance of having multiple EVM chains for scalability. I strongly believe that adding a donation platform to Optimism makes Optimism more versatile in its abilty to provide well-rounded public goods funding solutions - both for projects seeking retroactive funding, and for those who don’t qualify - and this is a value add to the entire web 3 ecosystem.
Also, would love to add to this: As of today, we have an incentivized web 3 donation platform on Mainnet, Gnosis Chain and Polygon! This 1 st level integration of a new EVM chain on Giveth is a great proof-of-concept. Our devs are well-practiced :wink:
This grant has the potential to make a huge impact on the Optimism community by providing needed re…
This grant has the potential to make a huge impact on the Optimism community by providing needed resources. This could lead to a ripple effect of positivity and kindness, ultimately making the world a better place.
Wow, this is an epic proposal. I woud love to see this come to fruition, and as a leader of our com…
Wow, this is an epic proposal. I woud love to see this come to fruition, and as a leader of our comms team at Giveth, and product owner of the GIVeconomy, I would be super happy to support through the process from chain integration, to comms campaigns for Optimism usage, to GIVbacks implementation, to creating an GIV <> OP LP & beyond. I think we have a lot of synergy between Giveth & Optimism, especially with our shared mission to use web 3 to effectively fund public goods, and I completely agree that giving Optimism users a donation platform with the reputation, proven systems & functionality of Giveth adds a critical donation lego to (and fills in a clear gap of) the Optimism network. Yesterday I worked hard putting together this tweet thread 1 outlining Giveth’s past contributions to Optimism for RetroPFG, and it has really stuck in my head the importance of having multiple EVM chains for scalability. I strongly believe that adding a donation platform to Optimism makes Optimism more versatile in its abilty to provide well-rounded public goods funding solutions - both for projects seeking retroactive funding, and for those who don’t qualify - and this is a value add to the entire web 3 ecosystem. Also, would love to add to this: As of today, we have an incentivized web 3 donation platform on Mainnet, Gnosis Chain and Polygon! This 1 st level integration of a new EVM chain on Giveth is a great proof-of-concept. Our devs are well-practiced :wink:
We suggested using 100 k OP to create a liquidity pool above, however we understand that this nove…
We suggested using 100 k OP to create a liquidity pool above, however we understand that this novel approach may not be acceptable, so as an alternative we would like to offer using our GIVstream contracts to create a Regen Farm (a Regen spin on classic liquidity mining).
We worked with Shapeshift and CultDAO to reward users with a mix of streaming tokens and liquid tokens, we can deploy this type of farm on Optimism as well.We would create an OP/GIV 50 / 50 LP and reward people who stake the LP on the GIVfarm with and OPstream. This is much better than traditional Liquidity Mining because it naturally attracts longterm supporters over short term mercenary liquidity providers.
We would set the rewards to be 10 % liquid at the day of the launch and 90 % OPstream, with the OPstream ending in Dec 2026 just as the GIVstream. We would request 100 , 000 OP for this as well, following the same metrics.You can find more details on Regen Farms in this blog post and in the documentation.
We suggested using 100 k OP to create a liquidity pool above, however we understand that this nove…
We suggested using 100 k OP to create a liquidity pool above, however we understand that this novel approach may not be acceptable, so as an alternative we would like to offer using our GIVstream contracts to create a Regen Farm (a Regen spin on classic liquidity mining). We worked with Shapeshift and CultDAO to reward users with a mix of streaming tokens and liquid tokens, we can deploy this type of farm on Optimism as well.We would create an OP/GIV 50 / 50 LP and reward people who stake the LP on the GIVfarm with and OPstream. This is much better than traditional Liquidity Mining because it naturally attracts longterm supporters over short term mercenary liquidity providers. We would set the rewards to be 10 % liquid at the day of the launch and 90 % OPstream, with the OPstream ending in Dec 2026 just as the GIVstream. We would request 100 , 000 OP for this as well, following the same metrics.You can find more details on Regen Farms in this blog post and in the documentation.
Thank you for submitting this grant application! Throughout the application process, this forum thr…
Thank you for submitting this grant application! Throughout the application process, this forum thread will be one of the official means of communication. Please be sure to monitor it for updates over the course of the review period.
At this stage, applications are mainly being reviewed for completeness, and nothing at this stage should be construed as support or opposition by any members of the Grants Council.
A little bit of feedback (keep in mind that this is just one council member’s opinion and does not represent the views of the entire council):
Griff:
To allow GIV to be given to donors on Optimism, we would need to have a liquid market on Optimism, otherwise we would be driving people off the chain. This is why we’d want to build our way up to a sizable LP with Optimism. This OP will not be sold, it will simply be held in an LP for perpetuity. We would be very happy to hold it in a multisig with other members of the optimism community so that Giveth doesn’t have control over it if that is deemed necessary.
In my opinion, this part of the proposal is what really causes some hesitation. Given that $GIV is an inflationary token, I view any kind of liquidity pair with grant-provided $OP a direct subsidy to the $GIV token price which is something I’d like to avoid. I’m happy to change my mind if there is anything that you can clarify on this front.
I think the much stronger parts of the proposal are those incentivizing projects to launch campaigns on Optimism on your platform. In order to make the proposal stronger, my suggestions would be to reduce the size of the grant and eliminate the liquidity pool provision.
Giveth is a great platform and it would be great to see you have a home on Optimism. Feel free to let me know if you have any questions.
Griff: @Michael Is the LP approach a deal breaker, or is it just a bad idea in your opinion?
It is a novel approach… instead of sending $OP out for rewards for donating, we send out our own token, these rewards are massive and range between 10-80% depending on a number of factors.
This makes sense for us because our rewards are governance focused and secondarily financial. Most of the deployment (GIVstaking, GIVstream, etc) is dependent on rewarding users with GIV via GIVbacks.
However, we can’t just add OP to the rewards because if the rewards for a donation go over 100%… it is no longer a donation, this would not be in the best interest in Optimism or the platform as people would just be running money through the platform to earn rewards.
Given the issuance of GIV on Optimism, it would be in the best interest of Optimism for us to have a GIV liquidity pool on Optimism, as that would keep the Giveth users on Optimism when they want to diversify away from GIV. Without some decent liquidity, they would be incentivized by lower slippage to bridge to another chain.
While the GIV token is inflationary, for the moment, it also has a hard cap of 1 billion tokens, and it is trading off of that with an FDV of 15 million.
We are a project that has been providing public goods to the Ethereum ecosystem since 2016, from creating the Minime token that inspired the token contract that $OP uses, to organizing the ScalingNOW! community interview series and conference in 2018, to organizing the Impact Track for ETHDenver this year, we are fixtures of this ecosystem and will not be going anywhere anytime soon. A $15M FDV market cap is very low considering these facts, and our history of delivering.
Just this month we:
Launched on Polygon
Launched a PFP collection
Launched a new Landing page
Launched a Spanish version of the DApp (other languages in the works)
Launched a Notifications Center, and several other improvements.
This week we are launching an internal AI hackathon, a referral program and a soft launch of an MVP for fiat donations
If it is a non-starter to have OP paired with GIV, then we can do a Regen Farm but instead of being paired with OP we can make a GIV/ETH pool and use Streaming OP rewards to incentivize this pool.
Regen farms are a really cool innovation in itself on farming so this would be totally acceptable too, following the same pattern, which is contingent on our metrics.
But when I put on my OP Steward hat, I really think it’s better to sink the OP into a Liquidity Pool rather than distribute it as liquidity mining rewards, even though the Regen Farm approach reduces the number of mercenary farmers and locks up OP for years, its still likely to be sold and has no upside. Where as the liquidity pool has an opportunity to create a positive upside (not guaranteed of course), and locks up OP for longer.
Thank you for submitting this grant application! Throughout the application process, this forum thr…
Thank you for submitting this grant application! Throughout the application process, this forum thread will be one of the official means of communication. Please be sure to monitor it for updates over the course of the review period. At this stage, applications are mainly being reviewed for completeness, and nothing at this stage should be construed as support or opposition by any members of the Grants Council. A little bit of feedback (keep in mind that this is just one council member’s opinion and does not represent the views of the entire council): Griff: To allow GIV to be given to donors on Optimism, we would need to have a liquid market on Optimism, otherwise we would be driving people off the chain. This is why we’d want to build our way up to a sizable LP with Optimism. This OP will not be sold, it will simply be held in an LP for perpetuity. We would be very happy to hold it in a multisig with other members of the optimism community so that Giveth doesn’t have control over it if that is deemed necessary. In my opinion, this part of the proposal is what really causes some hesitation. Given that $GIV is an inflationary token, I view any kind of liquidity pair with grant-provided $OP a direct subsidy to the $GIV token price which is something I’d like to avoid. I’m happy to change my mind if there is anything that you can clarify on this front. I think the much stronger parts of the proposal are those incentivizing projects to launch campaigns on Optimism on your platform. In order to make the proposal stronger, my suggestions would be to reduce the size of the grant and eliminate the liquidity pool provision. Giveth is a great platform and it would be great to see you have a home on Optimism. Feel free to let me know if you have any questions.
Griff: @Michael Is the LP approach a deal breaker, or is it just a bad idea in your opinion?
It is a novel approach… instead of sending $OP out for rewards for donating, we send out our own token, these rewards are massive and range between 10-80% depending on a number of factors.
This makes sense for us because our rewards are governance focused and secondarily financial. Most of the deployment (GIVstaking, GIVstream, etc) is dependent on rewarding users with GIV via GIVbacks.
However, we can’t just add OP to the rewards because if the rewards for a donation go over 100%… it is no longer a donation, this would not be in the best interest in Optimism or the platform as people would just be running money through the platform to earn rewards.
Given the issuance of GIV on Optimism, it would be in the best interest of Optimism for us to have a GIV liquidity pool on Optimism, as that would keep the Giveth users on Optimism when they want to diversify away from GIV. Without some decent liquidity, they would be incentivized by lower slippage to bridge to another chain.
While the GIV token is inflationary, for the moment, it also has a hard cap of 1 billion tokens, and it is trading off of that with an FDV of 15 million.
We are a project that has been providing public goods to the Ethereum ecosystem since 2016, from creating the Minime token that inspired the token contract that $OP uses, to organizing the ScalingNOW! community interview series and conference in 2018, to organizing the Impact Track for ETHDenver this year, we are fixtures of this ecosystem and will not be going anywhere anytime soon. A $15M FDV market cap is very low considering these facts, and our history of delivering.
Just this month we:
Launched on Polygon
Launched a PFP collection
Launched a new Landing page
Launched a Spanish version of the DApp (other languages in the works)
Launched a Notifications Center, and several other improvements.
This week we are launching an internal AI hackathon, a referral program and a soft launch of an MVP for fiat donations
If it is a non-starter to have OP paired with GIV, then we can do a Regen Farm but instead of being paired with OP we can make a GIV/ETH pool and use Streaming OP rewards to incentivize this pool.
Regen farms are a really cool innovation in itself on farming so this would be totally acceptable too, following the same pattern, which is contingent on our metrics.
But when I put on my OP Steward hat, I really think it’s better to sink the OP into a Liquidity Pool rather than distribute it as liquidity mining rewards, even though the Regen Farm approach reduces the number of mercenary farmers and locks up OP for years, its still likely to be sold and has no upside. Where as the liquidity pool has an opportunity to create a positive upside (not guaranteed of course), and locks up OP for longer.
Having worked with @Griff and the Giveth team on other projects, I vouch for their ability to creat…
Having worked with @Griff and the Giveth team on other projects, I vouch for their ability to create impact and deliver on their promises. LFG!
Having worked with @Griff and the Giveth team on other projects, I vouch for their ability to creat…
Having worked with @Griff and the Giveth team on other projects, I vouch for their ability to create impact and deliver on their promises. LFG!
@Michael Is the LP approach a deal breaker, or is it just a bad idea in your opinion?
It is a novel…
@Michael Is the LP approach a deal breaker, or is it just a bad idea in your opinion?
It is a novel approach… instead of sending $OP out for rewards for donating, we send out our own token, these rewards are massive and range between 10 - 80 % depending on a number of factors.
This makes sense for us because our rewards are governance focused and secondarily financial. Most of the deployment (GIVstaking, GIVstream, etc) is dependent on rewarding users with GIV via GIVbacks.
However, we can’t just add OP to the rewards because if the rewards for a donation go over 100 %… it is no longer a donation, this would not be in the best interest in Optimism or the platform as people would just be running money through the platform to earn rewards.
Given the issuance of GIV on Optimism, it would be in the best interest of Optimism for us to have a GIV liquidity pool on Optimism, as that would keep the Giveth users on Optimism when they want to diversify away from GIV. Without some decent liquidity, they would be incentivized by lower slippage to bridge to another chain.
While the GIV token is inflationary, for the moment, it also has a hard cap of 1 billion tokens, and it is trading off of that with an FDV of 15 million.
We are a project that has been providing public goods to the Ethereum ecosystem since 2016 , from creating the Minime token that inspired the token contract that $OP uses, to organizing the ScalingNOW! community interview series and conference in 2018 , to organizing the Impact Track for ETHDenver this year, we are fixtures of this ecosystem and will not be going anywhere anytime soon. A $ 15 M FDV market cap is very low considering these facts, and our history of delivering.
Just this month we:
Launched on Polygon
Launched a PFP collection
Launched a new Landing page
Launched a Spanish version of the DApp (other languages in the works)
Launched a Notifications Center, and several other improvements.
This week we are launching an internal AI hackathon, a referral program and a soft launch of an MVP for fiat donations
:exploding_head:
If it is a non-starter to have OP paired with GIV, then we can do a Regen Farm but instead of being paired with OP we can make a GIV/ETH pool and use Streaming OP rewards to incentivize this pool.
Regen farms are a really cool innovation in itself on farming so this would be totally acceptable too, following the same pattern, which is contingent on our metrics.
But when I put on my OP Steward hat, I really think it’s better to sink the OP into a Liquidity Pool rather than distribute it as liquidity mining rewards, even though the Regen Farm approach reduces the number of mercenary farmers and locks up OP for years, its still likely to be sold and has no upside. Where as the liquidity pool has an opportunity to create a positive upside (not guaranteed of course), and locks up OP for longer.
@Michael Is the LP approach a deal breaker, or is it just a bad idea in your opinion? It is a novel…
@Michael Is the LP approach a deal breaker, or is it just a bad idea in your opinion? It is a novel approach… instead of sending $OP out for rewards for donating, we send out our own token, these rewards are massive and range between 10 - 80 % depending on a number of factors. This makes sense for us because our rewards are governance focused and secondarily financial. Most of the deployment (GIVstaking, GIVstream, etc) is dependent on rewarding users with GIV via GIVbacks. However, we can’t just add OP to the rewards because if the rewards for a donation go over 100 %… it is no longer a donation, this would not be in the best interest in Optimism or the platform as people would just be running money through the platform to earn rewards. Given the issuance of GIV on Optimism, it would be in the best interest of Optimism for us to have a GIV liquidity pool on Optimism, as that would keep the Giveth users on Optimism when they want to diversify away from GIV. Without some decent liquidity, they would be incentivized by lower slippage to bridge to another chain. While the GIV token is inflationary, for the moment, it also has a hard cap of 1 billion tokens, and it is trading off of that with an FDV of 15 million. We are a project that has been providing public goods to the Ethereum ecosystem since 2016 , from creating the Minime token that inspired the token contract that $OP uses, to organizing the ScalingNOW! community interview series and conference in 2018 , to organizing the Impact Track for ETHDenver this year, we are fixtures of this ecosystem and will not be going anywhere anytime soon. A $ 15 M FDV market cap is very low considering these facts, and our history of delivering. Just this month we: Launched on Polygon Launched a PFP collection Launched a new Landing page Launched a Spanish version of the DApp (other languages in the works) Launched a Notifications Center, and several other improvements. This week we are launching an internal AI hackathon, a referral program and a soft launch of an MVP for fiat donations :exploding_head: If it is a non-starter to have OP paired with GIV, then we can do a Regen Farm but instead of being paired with OP we can make a GIV/ETH pool and use Streaming OP rewards to incentivize this pool. Regen farms are a really cool innovation in itself on farming so this would be totally acceptable too, following the same pattern, which is contingent on our metrics. But when I put on my OP Steward hat, I really think it’s better to sink the OP into a Liquidity Pool rather than distribute it as liquidity mining rewards, even though the Regen Farm approach reduces the number of mercenary farmers and locks up OP for years, its still likely to be sold and has no upside. Where as the liquidity pool has an opportunity to create a positive upside (not guaranteed of course), and locks up OP for longer.
MAJOR UPDATE
We are BLOWN AWAY at the support Optimism is giving us and the broader community via t…
MAJOR UPDATE
We are BLOWN AWAY at the support Optimism is giving us and the broader community via the RPGF program.
twitter.com
Giveth
@Giveth
❤️ Today we have felt the generosity of our community.
In Retroactive PGF Round 2 , Giveth received 129 . 8 k $OP which is, by far,
the MOST
funding
we have
EVER
received. Ever.
? We are speechless. Thank you SO much @optimismFND.
optimism.mirror.xyz/Upn_LtV 2 - 3 SviX…
5 : 26 PM - 30 Mar 2023
17
5
Given this and my conversations with @Michael about the grant, we are DRASTICALLY reducing the ask for the grant.
Instead of asking for 110 k $OP, we would like to request 40 k $OP
( 40 %) 16 k $OP to reward nonprofit projects for onboarding to Optimism
( 60 %) 24 k $OP to provide liquidity for our donation rewards, rewarded upon completion of the migration of the Giveth Ecosystem to Optimism.
I edited the original post to reflect these changes.
MAJOR UPDATE We are BLOWN AWAY at the support Optimism is giving us and the broader community via t…
MAJOR UPDATE We are BLOWN AWAY at the support Optimism is giving us and the broader community via the RPGF program. twitter.com Giveth @Giveth ❤️ Today we have felt the generosity of our community. In Retroactive PGF Round 2 , Giveth received 129 . 8 k $OP which is, by far, the MOST funding we have EVER received. Ever. ? We are speechless. Thank you SO much @optimismFND. optimism.mirror.xyz/Upn_LtV 2 - 3 SviX… 5 : 26 PM - 30 Mar 2023 17 5 Given this and my conversations with @Michael about the grant, we are DRASTICALLY reducing the ask for the grant. Instead of asking for 110 k $OP, we would like to request 40 k $OP ( 40 %) 16 k $OP to reward nonprofit projects for onboarding to Optimism ( 60 %) 24 k $OP to provide liquidity for our donation rewards, rewarded upon completion of the migration of the Giveth Ecosystem to Optimism. I edited the original post to reflect these changes.
YAY! WE DID IT!
Thank you :smiley:
We are so excited to see Giveth on Optimism :smiley:
YAY! WE DID IT!
Thank you :smiley:
We are so excited to see Giveth on Optimism :smiley:
YAY! WE DID IT! Thank you :smiley: We are so excited to see Giveth on Optimism :smiley:
YAY! WE DID IT! Thank you :smiley: We are so excited to see Giveth on Optimism :smiley:
:fire: You can now raise funds & donate on http://giveth.io 3 on Optimism!
https://twitter.com/Gi…
:fire: You can now raise funds & donate on http://giveth.io 3 on Optimism!
https://twitter.com/Giveth/status/ 1655905986824093698 4
:fire: You can now raise funds & donate on http://giveth.io on Optimism!
https://twitter.com/Giveth…
:fire: You can now raise funds & donate on http://giveth.io on Optimism!
https://twitter.com/Giveth/status/ 1655905986824093698
:fire: You can now raise funds & donate on http://giveth.io 3 on Optimism! https://twitter.com/Gi…
:fire: You can now raise funds & donate on http://giveth.io 3 on Optimism! https://twitter.com/Giveth/status/ 1655905986824093698 3
Updates as we close out our milestones for our growth grant.
Our Milestones
As a quick refresher, t…
Updates as we close out our milestones for our growth grant.
Our Milestones
As a quick refresher, these are the milestones we are working towards for this grant:
Screen Shot 2023 - 03 - 30 at 8 . 20 . 19 PM 1184 × 1874 169 KB
Milestone 1
We are excited to share some updates with the Collective regarding our Growth Experiment Grant. On August 15 th, we received an upfront payment of 16 k OP, which corresponds to the first milestone of the Grant: “Projects can add an Optimism donation address to their project and receive donations on Optimism”. Since May, projects have been able to receive donations on Giveth.io via OP Mainnet. Donors can donate to verified projects on Optimism and receive GIVbacks! For more details, check the announcement here.
Milestone 2
We completed Milestone 2 when we launched GIVpower and GIVbacks on OP Mainnet on September 5 th, 2023 . GIVbacks has been accruing to donors to verified projects on OP Mainnet since it was added in May. GIVpower let’s GIV holders on OP Mainnet stake and lock their GIV to boost their favorite projects on the platform, while earning an attractive yield!
860 × 1358 52 . 3 KB
There is currently over 23 M GIV staked in GIVpower 3 .
Milestone 3
Following the integration of the OP Mainnet, 538 projects have added an Optimism receiving address, and 1 , 078 unique donors have used Optimism to donate to projects on Giveth.io, totaling 4 , 873 donations. So far we have verified 253 public goods projects and rewarded them with 25 OP. We distribute these rewards on a monthly cadence.
1600 × 755 42 . 6 KB
In terms of total donations, verified public goods projects have received a total of $ 87 , 556 . 48 USD in donations via Giveth.io on Optimism so far. Once we distribute the $ 25 , 000 Giving Season Matching Pool, we will have reached our $ 100 k donation number, the final piece of completing Milestone 3 .
1600 × 689 40 . 8 KB
Significant donations were observed in October and December, largely due to our running of two Quadratic Funding Rounds on Optimism. Here are the results of each round:
1600 × 800 136 KB
Giveth Optimism Round (October 9 - 23 , 2023 )
Matching pool: 25 , 000 DAI on Optimism Network
Donations raised from individual donors: $ 23 , 306
Verified projects: 125
Unique donors: 388
Total number of donations: 1728
1024 × 512 74 . 9 KB
Giving Season Round (December 19 - Janurary 2 , 2023 )
Matching pool: 25 , 000 USDGLO on Optimism Network (to be distributed next week)
Donations raised from individual donors: $ 17 , 125
Verified projects: 85
Unique donors: 211
Total number of donations: 949
Our third milestone is nearly complete:
:white_check_mark: 100 donors of over $ 10 on OP Mainnet
-We had 148 in just one 2 week period
:white_check_mark: 30 + projects received donations on OP Mainnet
-This was complete even before our first QF round!
:soon: $ 100 k donations to verified projects
-$ 87 , 556 has been donated so far, and $ 25 , 000 is about to be distributed
:white_check_mark: 1 M GIV staked for GIVpower
-Over 23 M GIV is currently staked
3
We will make a follow up post in the next few days when Milestone 3 is complete.
As a nice bonus, the Giving Season QF round was the first use case for Glo Dollar on OP Mainnet and we worked with them to provide initial liquidity for their stablecoin on OP Mainnet.
Updates as we close out our milestones for our growth grant.
Our Milestones
As a quick refresher, t…
Updates as we close out our milestones for our growth grant.
Our Milestones
As a quick refresher, these are the milestones we are working towards for this grant:
Screen Shot 2023 - 03 - 30 at 8 . 20 . 19 PM 1184 × 1874 169 KB
Milestone 1
We are excited to share some updates with the Collective regarding our Growth Experiment Grant. On August 15 th, we received an upfront payment of 16 k OP, which corresponds to the first milestone of the Grant: “Projects can add an Optimism donation address to their project and receive donations on Optimism”. Since May, projects have been able to receive donations on Giveth.io via OP Mainnet. Donors can donate to verified projects on Optimism and receive GIVbacks! For more details, check the announcement here.
Milestone 2
We completed Milestone 2 when we launched GIVpower and GIVbacks on OP Mainnet on September 5 th, 2023 . GIVbacks has been accruing to donors to verified projects on OP Mainnet since it was added in May. GIVpower let’s GIV holders on OP Mainnet stake and lock their GIV to boost their favorite projects on the platform, while earning an attractive yield!
860 × 1358 52 . 3 KB
There is currently over 23 M GIV staked in GIVpower.
Milestone 3
Following the integration of the OP Mainnet, 538 projects have added an Optimism receiving address, and 1 , 078 unique donors have used Optimism to donate to projects on Giveth.io, totaling 4 , 873 donations. So far we have verified 253 public goods projects and rewarded them with 25 OP. We distribute these rewards on a monthly cadence.
1600 × 755 42 . 6 KB
In terms of total donations, verified public goods projects have received a total of $ 87 , 556 . 48 USD in donations via Giveth.io on Optimism so far. Once we distribute the $ 25 , 000 Giving Season Matching Pool, we will have reached our $ 100 k donation number, the final piece of completing Milestone 3 .
1600 × 689 40 . 8 KB
Significant donations were observed in October and December, largely due to our running of two Quadratic Funding Rounds on Optimism. Here are the results of each round:
1600 × 800 136 KB
Giveth Optimism Round (October 9 - 23 , 2023 )
Matching pool: 25 , 000 DAI on Optimism Network
Donations raised from individual donors: $ 23 , 306
Verified projects: 125
Unique donors: 388
Total number of donations: 1728
1024 × 512 74 . 9 KB
Giving Season Round (December 19 - Janurary 2 , 2023 )
Matching pool: 25 , 000 USDGLO on Optimism Network (to be distributed next week)
Donations raised from individual donors: $ 17 , 125
Verified projects: 85
Unique donors: 211
Total number of donations: 949
Our third milestone is nearly complete:
:white_check_mark: 100 donors of over $ 10 on OP Mainnet
-We had 148 in just one 2 week period
:white_check_mark: 30 + projects received donations on OP Mainnet
-This was complete even before our first QF round!
:soon: $ 100 k donations to verified projects
-$ 87 , 556 has been donated so far, and $ 25 , 000 is about to be distributed
:white_check_mark: 1 M GIV staked for GIVpower
-Over 23 M GIV is currently staked
We will make a follow up post in the next few days when Milestone 3 is complete.
As a nice bonus, the Giving Season QF round was the first use case for Glo Dollar on OP Mainnet and we worked with them to provide initial liquidity for their stablecoin on OP Mainnet.
Updates as we close out our milestones for our growth grant. Our Milestones As a quick refresher, t…
Updates as we close out our milestones for our growth grant. Our Milestones As a quick refresher, these are the milestones we are working towards for this grant: Screen Shot 2023 - 03 - 30 at 8 . 20 . 19 PM 1184 × 1874 169 KB Milestone 1 We are excited to share some updates with the Collective regarding our Growth Experiment Grant. On August 15 th, we received an upfront payment of 16 k OP, which corresponds to the first milestone of the Grant: “Projects can add an Optimism donation address to their project and receive donations on Optimism”. Since May, projects have been able to receive donations on Giveth.io via OP Mainnet. Donors can donate to verified projects on Optimism and receive GIVbacks! For more details, check the announcement here. Milestone 2 We completed Milestone 2 when we launched GIVpower and GIVbacks on OP Mainnet on September 5 th, 2023 . GIVbacks has been accruing to donors to verified projects on OP Mainnet since it was added in May. GIVpower let’s GIV holders on OP Mainnet stake and lock their GIV to boost their favorite projects on the platform, while earning an attractive yield! 860 × 1358 52 . 3 KB There is currently over 23 M GIV staked in GIVpower 3 . Milestone 3 Following the integration of the OP Mainnet, 538 projects have added an Optimism receiving address, and 1 , 078 unique donors have used Optimism to donate to projects on Giveth.io, totaling 4 , 873 donations. So far we have verified 253 public goods projects and rewarded them with 25 OP. We distribute these rewards on a monthly cadence. 1600 × 755 42 . 6 KB In terms of total donations, verified public goods projects have received a total of $ 87 , 556 . 48 USD in donations via Giveth.io on Optimism so far. Once we distribute the $ 25 , 000 Giving Season Matching Pool, we will have reached our $ 100 k donation number, the final piece of completing Milestone 3 . 1600 × 689 40 . 8 KB Significant donations were observed in October and December, largely due to our running of two Quadratic Funding Rounds on Optimism. Here are the results of each round: 1600 × 800 136 KB Giveth Optimism Round (October 9 - 23 , 2023 ) Matching pool: 25 , 000 DAI on Optimism Network Donations raised from individual donors: $ 23 , 306 Verified projects: 125 Unique donors: 388 Total number of donations: 1728 1024 × 512 74 . 9 KB Giving Season Round (December 19 - Janurary 2 , 2023 ) Matching pool: 25 , 000 USDGLO on Optimism Network (to be distributed next week) Donations raised from individual donors: $ 17 , 125 Verified projects: 85 Unique donors: 211 Total number of donations: 949 Our third milestone is nearly complete: :white_check_mark: 100 donors of over $ 10 on OP Mainnet -We had 148 in just one 2 week period :white_check_mark: 30 + projects received donations on OP Mainnet -This was complete even before our first QF round! :soon: $ 100 k donations to verified projects -$ 87 , 556 has been donated so far, and $ 25 , 000 is about to be distributed :white_check_mark: 1 M GIV staked for GIVpower -Over 23 M GIV is currently staked 3 We will make a follow up post in the next few days when Milestone 3 is complete. As a nice bonus, the Giving Season QF round was the first use case for Glo Dollar on OP Mainnet and we worked with them to provide initial liquidity for their stablecoin on OP Mainnet.
:tada: :tada: :tada: :tada:
twitter.com
Giveth
@Giveth
Our Giving Season QF Round Matching fu…
:tada: :tada: :tada: :tada:
twitter.com
Giveth
@Giveth
Our Giving Season QF Round Matching funds have been sent!
? Projects, check for USDGLO in your wallet OP Mainnet.
A huge thank you for everyone who fundraised, sponsored and contributed in this round.
Quick summary:
? 25 , 000 USDGLO Matching Funds on @Optimism made possible… twitter.com/i/web/status/ 1 …
4 : 30 PM - 9 Feb 2024
16
3
Our third milestone is complete:
:white_check_mark: 100 donors of over $ 10 on OP Mainnet
-We had 148 in just one 2 week period
:white_check_mark: 30 + projects received donations on OP Mainnet
-We have 647 projects fundraising on OP Mainnet 1
:white_check_mark: $ 100 k donations to verified projects
-So far $ 114 , 244 has been donated 1
:white_check_mark: 1 M GIV staked for GIVpower
-Over 23 M GIV is currently staked
You can see all the OP Mainnet stats on our analytics page: https://stats.giveth.io/ 1
Also, we made a strong comms effort to promote using Optimism on Giveth, here is a summary of the stats from twitter:
Screenshot 2024 - 02 - 10 at 12 . 56 . 32 PM 1462 × 470 78 . 4 KB
You can see the details in this spreadsheet
:tada: :tada: :tada: :tada:
twitter.com
Giveth
@Giveth
Our Giving Season QF Round Matching fu…
:tada: :tada: :tada: :tada:
twitter.com
Giveth
@Giveth
Our Giving Season QF Round Matching funds have been sent!
? Projects, check for USDGLO in your wallet OP Mainnet.
A huge thank you for everyone who fundraised, sponsored and contributed in this round.
Quick summary:
? 25 , 000 USDGLO Matching Funds on @Optimism made possible… twitter.com/i/web/status/ 1 …
4 : 30 PM - 9 Feb 2024
16
3
Our third milestone is complete:
:white_check_mark: 100 donors of over $ 10 on OP Mainnet
-We had 148 in just one 2 week period
:white_check_mark: 30 + projects received donations on OP Mainnet
-We have 647 projects fundraising on OP Mainnet
:white_check_mark: $ 100 k donations to verified projects
-So far $ 114 , 244 has been donated
:white_check_mark: 1 M GIV staked for GIVpower
-Over 23 M GIV is currently staked
You can see all the OP Mainnet stats on our analytics page: https://stats.giveth.io/
Also, we made a strong comms effort to promote using Optimism on Giveth, here is a summary of the stats from twitter:
Screenshot 2024 - 02 - 10 at 12 . 56 . 32 PM 1462 × 470 78 . 4 KB
You can see the details in this spreadsheet
:tada: :tada: :tada: :tada: twitter.com Giveth @Giveth Our Giving Season QF Round Matching fu…
:tada: :tada: :tada: :tada: twitter.com Giveth @Giveth Our Giving Season QF Round Matching funds have been sent! ? Projects, check for USDGLO in your wallet OP Mainnet. A huge thank you for everyone who fundraised, sponsored and contributed in this round. Quick summary: ? 25 , 000 USDGLO Matching Funds on @Optimism made possible… twitter.com/i/web/status/ 1 … 4 : 30 PM - 9 Feb 2024 16 3 Our third milestone is complete: :white_check_mark: 100 donors of over $ 10 on OP Mainnet -We had 148 in just one 2 week period :white_check_mark: 30 + projects received donations on OP Mainnet -We have 647 projects fundraising on OP Mainnet 1 :white_check_mark: $ 100 k donations to verified projects -So far $ 114 , 244 has been donated 1 :white_check_mark: 1 M GIV staked for GIVpower -Over 23 M GIV is currently staked You can see all the OP Mainnet stats on our analytics page: https://stats.giveth.io/ 1 Also, we made a strong comms effort to promote using Optimism on Giveth, here is a summary of the stats from twitter: Screenshot 2024 - 02 - 10 at 12 . 56 . 32 PM 1462 × 470 78 . 4 KB You can see the details in this spreadsheet
Thanks for the update! Please tag @pgov in the future when all the grant milestones are done and th…
Thanks for the update! Please tag @pgov in the future when all the grant milestones are done and the milestones council will review!
Thanks for the update! Please tag @pgov in the future when all the grant milestones are done and th…
Thanks for the update! Please tag @pgov in the future when all the grant milestones are done and the milestones council will review!
Hello @griff, we have reviewed the milestones and have recommended to the foundation the disburseme…
Hello @griff, we have reviewed the milestones and have recommended to the foundation the disbursement of milestone!
Hello @griff, we have reviewed the milestones and have recommended to the foundation the disburseme…
Hello @griff, we have reviewed the milestones and have recommended to the foundation the disbursement of milestone!
