Gitcoin

This is the integrated funding proposal for the Gitcoin Allo Workstream, requesting funding for Season 20 and S21 (1 Nov 2023 through 30 April 2024), authored by Zakk Fleischmann and Nate Gosselin.

TL;DR Allo Protocol is a resource allocation protocol that enables communities to more effectively invest in their needs. The initial iteration, v1, went to mainnets in December 2022 and currently powers Grants Stack. We began working on Allo v2 in July and are currently in the final stages of auditing its code, with v2 slated to deploy to mainnets by the end of October.

We believe that a resource allocation protocol is a core piece of infrastructure with high long-term potential, and that the “community investment” use case can support a full ecosystem of user-facing applications. This belief drove our investment in v2, as the new design makes it easier to create new applications and provides a more powerful profile registry. However, we are aware that we are facing headwinds due to the bear environment and that we may be a little too early for the market. Our focus in S20 and S21 will be testing the market’s current ability to support this ecosystem so that we can make a more informed decision about our mid-term strategy.

Amount Allo is requesting 809,250 GTC* = $758,398 for S20-21, assuming .93 USD/GTC, excluding reserves and rolled over amounts.

*The amount of GTC requested and the value of the reserves will be adjusted based on the current market value at the time this proposal is moved to Tally using the lower of the current price or the 20 day moving average, whichever is lower.

We will be requesting our funds through one Snapshot vote, but the release of the actual funds will be split over two Tally votes (one at the start of each season) for reasons of accountability and to mitigate potential price fluctuations.

The full proposal can be found here: https://gov.gitcoin.co/t/proposal-allo-s20-21-budget-request/16766