Purple DAO

Summary

Ask for 5 ETH to fund Prop House Round 2, an open round with 5 winners to be awarded 1 ETH each

Background

We are witnessing a historical moment in Farcaster’s history. With Sign in with Farcaster and Hubs launching soon, Farcaster builders will be able to permissionlessly create apps that are at feature parity with Merkle’s Warpcast. An explosion of community apps is around the corner.

Therefore it makes sense to launch a Prop House round now to build the energy of ETH Denver, Sign in & Hubs. Then ideally we follow up with a Quadratic Funding Round powered by Gitcoin and potentially a Hack Week (via separate proposals). For more context, see this Discord thread.

Prop House Requirement

• This is an open round, so any application in the Farcaster ecosystem is eligible. Both technical and non-technical projects are welcome.
• A submission must have at least a working prototype to be qualified
• (preferred, not-required) Open source and/or Public Goods

Timeline

This round will have 4 weeks from announcement to closed voting:

1 week to advertise the rounds. Its on Prop House but submissions are not live. This will happen immediately after the proposal is passed (~March 27)

2 weeks for submissions

1 week for voting

Budget

• Total budget: 5 ETH (5 winners at 1 ETH each)
• Our current Treasury at time of posting is ~42 ETH.
• Total budget is ~12% of current Treasury

Prop House Multisig

We are reusing the Small Grants Multisig created in PRPL 4.

The Small Grants Multisig is responsible for distributing funds to winners of Purple Prop House Rounds. Purple Members vote for the grant applications they wish to see funded and the Prop House Multisig must respect the outcome and quickly distribute funds to the winners.

The Multisig requires 3 out of 5 signers to complete a transaction. The signers are:

• philm (eth:0x925aFeB19355E289ED1346EDE709633cA8788b25)
• jpetrich (eth:0x09E6D38949644291179cfEa3ea263dc1F6A7C35e)
• ccarella (eth:0x3B60e31CFC48a9074CD5bEbb26C9EAa77650a43F)
• Malcolm (eth:0x8B7D79a679c10bEd518fE905D764b4b7667f24de)
• Matticus (eth:0x78d32460D0a53Ac2678e869Eb6b4f6bA9d2Ef360)

The Multisig address: (eth:0x3E2cd6cA1F18d27Fe1BBeB986914e98d5DD08BB0)

About Prop House

Prop House is a Nouns-funded public infra that allows DAOs to easily fund projects: https://prop.house/purple

Anyone can submit projects (per round requirement) and DAO members will vote (no gas). Purple uses Prop Houses for small grants, where we set a budget and then lots of people apply for a small grant and token holders vote for the winners.