When governance voting starts, I am considering submitting a proposal that would redirect 1% of all inflows to the treasury to a Gitcoin Grants Multisig Wallet (0xde21F729137C5Af1b01d73aF1dC21eFfa2B8a0d6), in order to support public goods in the Ethereum ecosystem.
If ratified, every funding from the UNI treasury (or perhaps from fees) that went to the Gitcoin Grants wallet would be 100% used for public goods funding for the Ethereum ecosystem. This funding would be allocated:
- 50% to the Tech Grants category.
- 50% to a Uniswap Category, for public goods that have built upon Uniswap.
This proposal would be similar to recent proposals accepted into $YFI $YAMs and $BASED.
For the uninitiated, Gitcoin Grants is like a crypto-style patreon, powered by Quadratic Funding, that has delivered over $3mm of funding to Ethereum projects since Jan 2019. For more on Gitcoin, checkout the reviews of Gitcoin Grants and QF on Vitalik buterin’s website.
There are many promising projects in the community that support public goods (like ETH1/ETH2 development, L2 research, media, education, etc). Given Gitcoin’s long history of successfully supporting public goods on Ethereum at scale, without being captured, through a tough bear market, I believe Gitcoin is the strongest contender at the current moment, in this category.
There are two main reasons that I believe this is a good idea for the UNI community:
** Rational Economic Choice ** – By funding the infrastructure upon which Uniswap relies upon, we (1) support the foundation of OSS which your DEFI Bags depend upon (2) prevent black swan events, (3) fund the next cohort of innovations.
** High ROI Community Goodwill & Publicity **. We believe that Uniswap is a darling of the Ethereum ecosystem, and that funding public goods with a portion of Uniswaps economy will be a serious goodwill move that will ward off potential competitors (and maybe make CEXs like Coinbase + Binance have to join the party. This will make UNIs part of the broader conversation around rainbow colored money in the Ethereum ecosystem, and public goods funding in the information age.
the funds that go to the Uniswap Category will support public goods in the Uniswap ecosystem, helping to solidify Uniswaps network effect.
If this proposal passes, I will commit to the following:
100% of the tokens that go to this wallet from the UNI contracts will be sent to public goods (minus gas fees, which I expect to be fairly negligible).
Prominently listing UNIs as a co-funder of Gitcoin Grants Rounds, for each round it contributes funding similarly to how we have done for past funders.
I would be happy to provide a report back to the UNI community on where the UNI funds went, once per quarter, for every quarter in which the value that the UNI system provided to Gitcoin Grants was more than $10k USD.
architecting a system that stewards the multisig responsibly.
Feedback welcome on this. I will take the feedback into account when the formal proposal is submitted. In particular I’d love feedback on the simplest place to insert this into the uniswap system.
Gitcoin Founder, Kevin Owocki