RocketPool & Gitcoin: Grants for Growth
Gitcoin’s Allo Protocol unlocks cutting-edge funding mechanisms, including Easy Retroactive Public Goods “hereinafter E-RPGF” through its smart contracts, allowing developers and communities to tailor rules to their precise use case. Various funding mechanisms are executed on top of Allo Protocol’s App Layer through turn-key/no-code interface(s).
The Allo Protocol allows for the implementation of grant rounds that can leverage funding mechanisms to address past, current, and future Rocketpool stakeholders (Node Operators, Rocket Pool Community, and rETH holders). We will ensure that these mechanism(s) are thoughtfully and strategically deployed to specifically address Rocketpool’s desire to reward best-of-breed projects in areas that include marketing, educational materials, and tooling.
Work being proposed
In support of Rocketpool’s Call for Grant Applications—Round 13, Gitcoin would like to propose a strategic partnership focused initially on implementing our E-RPGF funding mechanism.
We support grant programs from the tens of thousands to millions per year and recommend a minimum of $100,000 for an impactful E-RPGF round for Rocketpool’s ecosystem. Please find a detailed breakdown of this proposed funding allocation in the funding overview section included in “Costs.”
Is there any work this builds off of?
N/A
Will the results of this project be entirely open source, if not under what license will they be published?
This will be defined as part of the eligibility criteria for the prospective round(s) we run.
E-RPGF Funding Mechanism
We realize Rocketpool is already providing Direct Grant funding, so this grant submission’s focus is E-RPGF. That said, we have included a brief high-level summary of the various funding mechanisms below.
Description: E-RPGF is a retroactive funding mechanism that assesses the outcome and the impact of developers and projects generated from contributions made in the past. Said differently, the project’s goals were already achieved, and this funding is based on hindsight. This approach encourages long-term thinking and incentivizes projects to create lasting value for the Rocketpool community.
Implementation: Rocketpool and Gitcoin will initiate an E-RPGF funding pool with a minimum of $100,000, rewarding projects based on their past contributions to the Rocketpool ecosystem. The selected Rocketpool badgeholders will pick the most deserving projects, and the backend mechanism will distribute such funds proportionally to the number of votes allocated. The aim is to empower Rocketpool’s most valued experts to select projects that have already accomplished their goals.
Quadratic Funding Mechanism
Description: Quadratic Funding (QF) democratizes financial support, empowering the Rocketpool community to vote with their contributions to back the projects they believe in. This approach emphasizes the importance of broad community support, making it a highly inclusive funding model.
Implementation: Rocketpool and Gitcoin may initiate a QF round inviting developers and project teams to participate. The community’s contributions will determine the distribution of funds based on the quadratic funding formula.
Direct Grants Mechanism
Description: Direct grants offer targeted financial support to projects demonstrating exceptional potential, innovation, or strategic importance to the Rocketpool ecosystem. This focused approach ensures that critical initiatives receive the necessary resources to thrive.
Implementation: A selection process may be established to award direct grants to deserving projects. Evaluation criteria will include the project’s innovation level, potential ecosystem impact, and alignment with Rocketpool’s strategic objectives.
A Video Demonstration of our Gitcoin Grants Offerings
We would also like to provide Rocketpool’s GMC with a video demonstration of our Grant Offerings, including our E-RPGF and Grants Stack technology. This will specifically highlight our Manager, Builder, Explorer, and Checker interfaces.
- Manager: Allows a Grants Manager to easily create, deploy, and manage a grants program all within one dashboard. This functions as an administrative shell.
- Builder: Developers apply for grants, manage their applications, and build on-chain reputation by creating projects.
- Explorer: Donors can discover and support different programs and projects; Donors will donate with fund matching.
- Checker: This tool taps into Open AI to streamline grantee eligibility review and return a score for Rocketpool submissions. This highly streamlined technology allows for approval or denial within 24-48 hours. It can replace or complement the need for a grants analyst, providing convenience and saving on labor costs.
Who is doing the work? What experience do they have with projects in the past?
Gitcoin will spearhead these grant initiatives. Over the past five years, Gitcoin has supported funding projects that enable communities to fund their shared needs, addressing what matters most to them. This includes 4.2 million unique donations, 3,715 projects raised funds, and over $60 million in grant funds distributed.
We just completed the 20th edition of our Gitcoin Grants program and supported many other major grant programs, including Arbitrum, Polygon, and Avalanche. We have industry-leading expertise to oversee designing, implementing, and managing grant programs at scale. Our E-RPGF and Grants Stack technology provides a simple turnkey solution to enable end-to-end management across the entire grant lifecycle, which includes intake, review, payout, analytics, and onboarding support.
What is the breakdown of the proposed work, in terms of milestones and/or deadlines?
We envision the following high-level milestones.
- Community Approval: Secure the Rocketpool community approval for the proposed funding mechanism(s) and allocations. Ensure we are aligned with Rocketpool’s community’s best interests.
- Collaborative Planning: The Rocketpool Grants Council will work with Gitcoin to finalize the operational details, including application processes, evaluation criteria, and timelines for E-RPGF.
- Implementation and Oversight: Launch the initiatives with the specified funding, ensuring transparent management and oversight to achieve the desired impact on the Rocketpool ecosystem.
A more detailed timeline could look like this:
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Design Phase (1-2 weeks): Gitcoin will work closely with the Rocketpool team to design the funding rounds, tailoring them to the specific needs and goals of the Rocketpool ecosystem.
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Implementation Phase (1-2 weeks): Following the design phase, Gitcoin will implement the tools and processes to launch the RPGF round(s) on the RocketPool platform.
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Execution and Monitoring: Once launched, Gitcoin will provide ongoing support and monitoring to ensure the grants program’s success, making adjustments based on feedback and key performance indicators (KPIs).
Expected Outcomes for the Rocketpool Ecosystem
The allocation of $100,000 or more for retroactive rewards will not only directly reward past projects but will also continue attracting new talent and drive future innovation. Rewarding builders and community members who have already utilized RocketPool’s protocol shows forthcoming contributors that the DAO will continue to incentivize and support their growth well into the future.
More specifically, Rocketpool will see continued growth in areas such as:
- Development and tooling enhancements for security and functionality needed to improve Rocketpool staking on a rolling basis.
- Technical support and mentorship for node operators.
- Education materials that increase further understanding of Rocketpool’s offerings through both online and IRL content.
How is the work being tested? Is testing included in the schedule?
Gitcoin’s Grant Offerings are out-of-the-box solutions that have already been tried and tested with many well-respected entities in the Web3 sector.
Costs?
Funding Overview
Total Funding Ask: minimum of $100,000, focusing on our E-RPGF funding mechanism.
Other funding mechanisms to consider:
Quadratic Funding Round: To support and strengthen the community-driven selection of projects.
Direct Grants: Providing direct financial support to high-potential projects to further Rocketpool’s ecosystem growth.
Fees: Gitcoin respectfully requests that a 10% donation be made to the Gitcoin Treasury in furtherance of all services performed, including, but not limited to, design and implementation.
What is the proposed payment schedule for the grant? How much USD and over what period is the applicant requesting?
The funds will be paid in escrow as one lump sum payment or to be paid out as needed.
Subject to Rocketpool’s GMC input.
Is the applicant requesting RPL or LUSD?
This will be left to the discretion of the grants manager.
How will the GMC verify that the work delivered matches the proposed cadence?
All of our grant programs operate on-chain so that results are easy to track and verify. We provide report cards that validate round results. For example, the report card for a grants round run on Optimism is here.
We additionally have integrations with Open Source Observer and Karma GAP.
Does the person or persons proposing the grant have any conflicts of interest to disclose? (Please disclose here if you are a member of the GMC or if any member of the GMC would benefit directly financially from the grant).
We have no conflicts of interest to report.
Will the recipient of the grant, or any protocol or project in which the recipient has a vested interest (other than Rocket Pool), benefit financially if the grant is successful?
As referenced above, we are respectfully requesting a one-time ten percent (10%) donation in furtherance of services provided
In no other way would Gitcoin benefit from this grant proposal, which would not enrich any individual team contributors. Gitcoin’s mission is to offer diverse funding mechanisms to thriving Ethereum or EVM ecosystems to fund what matters.
Questions and Comments are welcome. We would be excited to move forward with this partnership.