Gitcoin x Yearn Partnership

Gitcoin x Yearn Partnership

The idea is simple: to create an official yearn Gitcoin collection for donors to support the development of yearn. Today, there is no easy way to support many of the great yearn initiatives and core contributors via grants. There is too much focus on $YFI and not enough on capitalizing the protocol with adequate resources to fund development. Case in point:

Screen Shot 2021-01-08 at 6.17.55 PM

A partnership with Gitcoin, the primary platform for Web3 open-source grants, is highly synergistic for both ecosystems (more on that below). The strongest moat of crypto protocols/networks is human capital. So far, yearn has built one of the strongest communities in DeFi. But we can do more. This partnership helps harness that collective energy. Crucially, it supplements the protocol’s sources of income (i.e., vault fees) with grants; the goal is to have adequate resources to continue to attract the best talent across the board and further grow yearn’s competitive advantage.

Summary

Gitcoin is the go-to platform for grants and has been a primary source of funding for many of the leading projects and contributors in the space. The goal of a yearn x Gitcoin partnership is to secure additional sources of funding, create a grant pool for yAcademy, and integrate yGift with Gitcoin.

Motivation

  1. Community members want to fund yearn projects but don’t know how. This partnership creates a dedicated and official yearn grants page and becomes a one-stop-shop removing the paradox of choice/complexity of patrons deciding where and how to allocate grants.
  2. Raise awareness for yearn projects and contributors (developers, strategists, creatives, and other active community contributors) through the Gitcoin platform.
  3. Formalize the process for yearn contributors to apply for and receive grants.
  4. Create recurring funding sources for yearn developers, strategists, creatives, and yAcademy graduates
  5. Benefit from Gitcoin’s grant matching programs.
  6. Integrate yGift with Gitcoin funding programs. yGift can be an added incentive for patrons to donate to yearn and other open-source efforts. The gamification aspect of yGift NFTs can be quite powerful to incentivize more grant giving. Let’s get to $100M in Gitcoin grants this year!

Specification

  1. Create an official yearn Gitcoin collection.
  2. Create yearn Grants Council responsible for curating the collection (i.e., recipients) and allocating of grants.
  3. Explore yGift integration with Gitcoin. It could work as follows: each recipient has a unique yGift. Similarly, donors receive a yGift NFT based on their contribution amount (create tiers/scarce NFTs as an added incentive).

For: Supportive of yearn x Gitcoin partnership

Against: Not supportive

Poll:

  • Yes - partner with Gitcoin
  • No - we’re fine as is

0 voters

5 Likes

Fully support that.

We already try to centralize some grants during the last round:

But i agree that we need to be more organized :grinning:

I’m not sure I really see what the use of yGift will add. Would be nice for more users to hear about it. But concretely, Gitcoin’s system, especially with zkSync, works very well.

1 Like

When that contract is funded, and when Gitcoin calls enablePayouts(), Grant admins will be able to call claimMatchPayout() (either via the website, or via Etherscan) to receive their matching funds.

1 Like

Hi from Gitcoin.

Here is some stats on the gitcoin network so far gitcoin.co/results

Happy to answer any questions about us, and let me know if there is an upcoming community call where we can discuss via audio. Otherwise I’ll just keep an eye on the thread

3 Likes

100% onboard with this as gitcoin match is amazing. Also, it’s a great way to promote the usage of ygift if we can somehow integrate it with gitcoin.

When interacting with the gitcoin ecosystem I felt a lot of pressure to deanonymize in various ways. I did not appreciate this.

1 Like

Is a gitcoin Collection a pool of individuals that will all benefit from a single donation to that pool?

Who creates the pool? Who has the power to add/remove people from that pool?

Why not just use a list of individual grants like we did last round here.

Not nay saying, just seeking clarity.

Running yGifts on zksnyc might be worth exploring also.

1 Like

This is a great initiative. I want to highlight this points:

  • More visibility for people that do a lot but for some reason stay behind scenes.
  • More formal and transparent process
  • A way for community to thank a contributor directly

This will benefit the whole ecosystem not only because of the monetary compensation for collaborators but also because of community recognition.

I vote FOR.

2 Likes

In Q4 2020, Gitcoin facilitated a lot of value transfer.
Since its consensys in November 2017,
Gitcoin has helped significant funders reach an audience of earners. Gitcoin has facilitated numerous complete transactions to unique earners.

More gitcoin partnership and merger are coming.

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