Yam

Note 1: This proposal is being resubmitted after the original proposal was marked as ‘noncompliant’ due to a technicality.

Note 2: This proposal is “trivial to implement and would not slow down development”

This proposal, if ratified, would redirect 1% of all inflows to the treasury to a Gitcoin Grants Wallet, in order to support public goods in the Ethereum ecosystem. If ratified, every funding from the YAM treasury that went to the Gitcoin Grants wallet would be 100% used for public goods funding for the Ethereum ecosystem. This funding would be allocated to the Tech Grants category.

This proposal was motivated by a tweet from Nick Dodson. There is plenty of discussion on that thread to checkout as you weigh your votes.

For the uninitiated, Gitcoin Grants is like a crypto-style patreon, powered by Quadratic Funding, that has delivered over $2.5mm of funding to Ethereum projects since Jan 2019. For more on Gitcoin, checkout these reviews of Gitcoin Grants and QF

• Round 3 Review
• Round 4 Review
• Round 5 Review
• Round 6 Review

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 YAM community:

1. Karma – Gitcoin Grants played a part in funding the transition form v1 => v2 see this link.
2. High ROI Community Goodwill & Publicity. We can shift the narrative around YAMs being a “degen” project to having some “regen” effects to the ecosystem, like funding the base layer upon which it depends. This will make YAMs part of the broader conversation around rainbow colored money in the Ethereum ecosystem, and public goods funding in the information age.

If this proposal passes, I will commit to the following:

1. 100% of the tokens that go to this wallet from the YAM contracts will be sent to public goods (minus gas fees, which I expect to be fairly negligible).
2. Prominently listing YAMs as a co-funder of Gitcoin Grants Rounds, for each round it contributes funding.
3. I would be happy to provide a report back to the YAM community on where the YAM funds went, once per quarter, for every quarter in which the value that the YAM system provided to Gitcoin Grants was more than $10k USD.

I appreciate the consideration that the community has given to this proposal Gitcoin Founder, Kevin Owocki