[DISCUSSION] BitDAO x Giveth - The Future of Giving

Proposal Title: BitDAO x Giveth - the Future of Giving

Authors: Yass & Griff Green

You can reach us directly through email: yass@giveth.io or griff@giveth.io | Discord: Yass#3392, griff (:purple_heart:, :purple_heart:)#8888 | Telegram: @yass92

Date: 22.06.2022

About us

Giveth is the best web3 based donation platform in the world! Our community is focused on Building the Future of Giving using blockchain technology. Our intention is to support and reward the funding of public goods by creating open, transparent and free access to the revolutionary funding opportunities available within the Ethereum ecosystem.

Valuable Links

Website: https://giveth.io/

Farming: GIVgarden: Have your say in Giveth governance

Discord: Discord

Twitter: https://twitter.com/Givethio

Youtube: The Biggest Web3 Opportunity That No One Is Talking About

Presentations

Deck: Giveth Deck_2022.pdf - Google Drive

Our Values

  1. We encourage Decentralization:
    Giveth offers innovative open-source solutions built on blockchain technology, which is inherently decentralized.
    Giveth is pioneering and experimenting with decentralized governance and communication techniques and supporting their adoption by other communities.

  1. We promote Altruism:
    Giveth is an open, non-hierarchical global initiative empowering social, environmental and humanistic impact projects with modern technologies.
    Giveth supports many like-minded initiatives that are adding value to the world without necessarily having a direct profit motive.
    Giveth is building a self-sustaining giving economy that encourages and rewards altruistic intention.

  2. We believe in the power of Community:
    Giveth is an inclusive community united around a common goal.
    Giveth is a community-owned platform, building and developing our DApps based on feedback from our members.
    Giveth enables trust within communities by increasing transparency and accountability through blockchain technology.
    Giveth proactively reaches out to similar initiatives which we see as potential collaborators, as opposed to competitors.

Our Economies (GIVfarm & GIVbacks)

Giveth is re-engineering charitable giving by creating an entirely free, open-source platform, built on the Ethereum Blockchain.

RegenFarms is the next generation of ReFi liquidity mining opportunities for DAOs and regens alike. Using our contracts for the GIVfarm and the GIVstream, we are empowering other for-good DAOs to launch liquidity mining incentive programs, “RegenFarms”, with streams of their own. Shapshift and CultDAO are two of our partners benefiting from this.

How everyone benefits from RegenFarms:

  • Blockchain4good DAOs > from the ready-made UI, network effects of offering incentives among other Regen Economies and the novel benefits of combining rewards with a streaming service.
  • Stakers > from high yields and a wealth of farming opportunities, as well as the opportunity to explore for-good web3 projects.
  • Verified projects > from boosted Giveth Matching Pool contributions, courtesy of for-good DAOs.
  • The GIVeconomy > from additional liquidity and strengthened partnerships in the Blockchain4Good ecosystem.

The GIVfarm provides 4 liquidity farms - 2 on Mainnet and 2 on Gnosis chain - as well as single asset GIV staking on both chains. APRs range from 200% to 450%.

The GIVstream is another novel concept pioneered by Giveth. When you harvest rewards from the GIVfarm you are not only earning instantly claimable rewards but also receiving and augmenting your own personal continuous stream of GIV.

For more details, check out the articles on Medium about GIVbacks and GIVeconomy:

How will your proposal, if activated, benefit BitDAO?

1. Vision alignment: BitDAO’s vision is open finance and a decentralized tokenized economy. At Giveth this is exactly what we are building. Our intention is to support and reward the funding of public goods by creating open, transparent and free access to the revolutionary funding opportunities available within the Ethereum ecosystem.

2. Up to 8% of the funding round token swap (~4 - 6M worth of $GIV): Holding $GIV diversifies BitDAO treasury and will give access to GIV’s farming streams. We are very much in favor of DAO collaborations and often pursue token swaps with those with whom our vision aligns.

We will not directly sell anything given to us without your consent and we would expect the same from you, it will only be used for liquidity.

We will determine the price of the tokens in advance upon a mutual agreement from both DAOs based on the market prices.

3. DAO-to-DAO collab: Token swap and exposure to our features/protocols. We are working with some of the most well-known and smart engineers in the space who are in the frontiers of tokenomics progression and macroeconomics innovations. We can offer access to plenty of impact DAOs including BrightID, tokenengineering commons, Gitcoin, Panvala, and more.

We are a leader in the public goods space and we could help onboard plenty of the projects on BitDAO so they could do crowdfunding onto Giveth. Our goal is to turn public goods orgs into DAOs that they could get invested in.

What are the projected outcomes?

Demonstrate Fiscal Accountability by responsibly provisioning funds and skills toward team structure, conflict resolution, administration, financial transparency, organization of team gatherings and quality assurance. Meet the resource needs of the Giveth community, platform and economy.

Innovate Internal Governance through experimenting with and documenting decentralized governance systems within the Giveth DAO structure (e.g. Sociocracy, Praise, Reputation, Conviction Voting, SourceCred, etc.) that could prove extremely useful for future Decentralized Autonomous Organizations to learn from and implement their own versions.

Collaborate with the Ethereum Ecosystem to develop collaborative tools that generate mutual benefit and success by partnering with and participating in the governance of other mission-aligned organizations such as: Commons Stack, Token Engineering Commons, DAppNode, BrightID, 1Hive, GitCoin and MetaGame.

Create Regenerative Value that nurtures and grows the Giveth Token Economy (GIVeconomy) by empowering individuals toward inclusive decentralized decision making with outcomes that have real impact on the organization and positive change in the world when cascaded through our listed projects.

What are the milestones?

Our growth plan:

Angel Vault and path to our stable token (oneGIV) (2022)

To create more liquidity, we are planning to launch $oneGIV and make a protocol owned Giveth Angel Vault. This way we can protect the value of $GIV for GIVbacks, the GIVgarden & all our future ventures. $oneGIV will be used throughout the GIVeconomy.

GIVpower (2022)

$GIV holders will be able to lock their tokens to BOOST projects asking for donations on our platform. The longer they lock, the more the project is BOOSTED and the higher their staking APR.

GIVfi (2023)

Latent donations on the platform will be put into safe defi strategies to earn an interest while waiting for projects to withdraw them. This interest will be used to buy $GIV on secondary markets.

Regen Microeconomies Market powered by $GIV (2024-2025)

With the $GIV staked behind projects via GIVpower, we can enable for-good projects to launch their own microeconomies backed by $GIV in a Bonding Curve. Donors become investors, Volunteers become shareholders with a voice. This is the Future of Giving.

How long will it take to complete your proposed changes?

We estimate 2-3 years based on our project roadmap above to deliver our main vision: Regen Microeconomies using Augmented Bonding Curves model on top of our DApp we want to create continuously funded organizations. (also available in video format, narrated by Griff Green)

Budget

We are looking to raise 2.5 - 3M (USDC / USDT / DAI or other) by selling and exchanging our tokens.

We are very flexible in how to structure the round and look forward to hearing the community’s ideas or suggestions for any alternative methods.

We would use the funds to pay our contributors and hire a few full-time senior developers to help us deliver our projects within the timeframe described above.

Add technical details and/or links to source documentation
https://docs.giveth.io/

  1. Include any other relevant details on how this proposal will be accomplished

On a final note, we certainly believe our visions with BitDAO align and we would love to extend our knowledge base to a bigger audience. We’d love to share, promote and exchange all the innovations in the token engineering and DAO tooling we are bringing to our community with the rest of the web3.0 pioneers. We truly believe this will be a fruitful collaboration and We hope this proposal would meet a positive response and look forward to partnering up with BitDAO!

Next Steps? If this proposal is accepted, what are the immediate action items?

  1. Preparation of all information about token swap, funding structure and the final offer.
  2. Pass a BitDAO governance vote.
  3. Increasing the team for faster project development.
  4. Building and rolling out updates.

Temperature Check Poll

Would you like to see this proposal go to vote?
  • Yes
  • No
  • Needs work

0 voters

26 Likes

Thanks for posting this for discussion @Yass. We’ve also shared it to the BitDAO Discord. It’d be great to have your team on the next AEmbassy Twitter Space for a Q&A. Can coordinate in the Discord :+1:

9 Likes

Thanks @Je ! we will certainly be there and looking forward to it! :partying_face:

6 Likes

:+1::+1::+1:我做任務用而已。 加油bitDao

5 Likes

wonderful post, thanks @Yass ! yay Giveth! :raised_hands:

6 Likes

Dear BitDAO community, we appreciate the time you took to listen to our proposal during your community call on Twitter, ask questions and engage with us.

There is one question mark that we’d like to cover before we can move to a snapshot vote on this proposal and that is how we can structure this funding.

We would like to propose selling off a percentage of our total supply (i.e 50M GIV) by streaming it over the course of 5 years period for 2.5M USD.
In addition to that, we would also like to include some anti-dumping agreement on our tokens, e.g. locking up initial 20% in our farms for some time (open to ideas and suggestions)!

8 Likes

Thank you Yass and Griff for joining us on a community call to discuss your Giveth, your proposal, and answer some community questions!

If you couldn’t make it to the call please watch the recording here: https://twitter.com/i/spaces/1gqxvlaVQkqGB?s=20

7 Likes

This is a really solid proposal, love the idea of decentralized generosity models and reminds me about some of the work I’ve been privileged to be involved in with (https://impactmarket.com) on Celo.

7 Likes

Love the idea of investing in Public Goods. It amazed me the first time I saw that 10 trillion are invested in that in the US alone & that money is being used so inefficiently.

It’s such an easy sector to disrupt because the bar is very low and disrupting it through tokenized microeconomics sounds like the kind of world where I would like to live.

:slight_smile:

5 Likes

definitely amazing platform creating an open-source giving culture with solid giveback incentives. projects are quite versatile with a shared focus on public good. another big plus overlooked here is their ecosystem including Token Engineering Commons, 1Hive, and Commons Stack, all backed by a strong community. and they are all contributing greatly in the larger crypto ecosystem.

I’d very much like to see Giveth at the side of BitDAO as a collaborator supporting BitDAO’s vision of a collective of builders and stakeholders enabling mutually beneficial Web3 ecosystems of people, products, and public goods.

5 Likes

This is a super exciting partnership that I think will be win-win for everyone involved! I don’t think there’s another organization in web3 that comes close to the drive for social impact, knowledge of tokenomics & execution of the Giveth team, and it would be great for BitDAO to support Giveth’s ambitious roadmap.

5 Likes