The GMC has concluded discussions and scoring for the Round 18 (October 7 - November 7) Grants/Bounties/RA Award Round.
This post also begins the fourteen-day clock during which, according to RPIP-15, “[a]nyone MAY file an RPIP disputing a grant, bounty, or retrospective award within two weeks of the announcement of recipients. Such an RPIP SHALL be subject to a snapshot vote.” Any awards not subject to such a challenge will become official on December 15, 2024 at 23:59 UTC.
General Updates
New Roster
This was the first round where the new GMC roster participated. (Snapshot)
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rETH Incubator
The team of reviewers (Langers, Kane, knoshua, Valdorff, Samus) met last week to discuss the applications. The deadline for their feedback and scoring is December 2.
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LenOfTawa Joins The GMC
LenofTawa will replace Leighm.eth on the development subcommittee. He was a keen supporter and participant in the Saturn 0 initiative, and an all-around contributor to Rocket Pool governance. (LenofTawa Joins The GMC)
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Legal Research
The GMC met with four legal firms to begin researching the DAO’s options for legal protection. No decisions have been made.
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LUSD Treasury
The GMC is currently discussing whether or not it will continue to keep LUSD in the treasury and how payments in LUSD will function.
Current GMC Roster
- Ken
- Waq
- LFO
- Dr Doofus
- Destroyaaa
- Steely
- Kevster.eth
- sckuzzle
- LenofTawa (did not participate because he joined late)
Application Breakdown
- Total Grant Applications: 7
- Total Bounty Applications: 0
- Total Retro Applications: 2
- Total Applications Transferred From Last Round: 1
- Total Amount Grants Requested: $352,280
- Total Amount Retros Requested: $1,960
- Total Amount Grants / Bounties / Retros Requested: $354,240
- Total Amount Incoming Funds This Period: $45,000
- Total Amount Reserves: $633,000
USD values calculated at the time GMC began deliberating on applications.
Awards, Average Overall Scores
| Number | Applicant | Title | Decision | Amount (USD) | Average score |
|---|---|---|---|---|---|
| GA182401 | regexbuster | RPL DeFi | Approve | $780.00 | 3.33 |
| GA182402 | Patches | Patches - Team Partnership #2 | Approve | $104,000.00 | 5 |
| GA182406 | AlphaGrowth | Incentives Grant | Approve | $40,000.00 | N/A |
| RA182404 | Patches | Smart Contract Wallet - Solo Stakers | Approve | $666.00 | 2.67 |
| RA182402 | regexbuster | RPLDeFi Retro | Approve | $960.00 | 3.33 |
| GA182405 | sleety | Token Motion Design Subscription | Defer w/ Future Consideration | $29,970.00 | 2 |
| GA182404 | Butta | beaconcha.in V2 Dashboard | Defer w/ Future Consideration | $15,000.00 | 3.33 |
| GA172402 | trooper | RP Explorer | Decline | $150,000.00 | 2.88 |
| GA182407 | Tricky | Rocket School | Decline | $11,000.00 | 2.5 |
| GA182403 | Patches | Rescue Node Quota Usage Visibility | Withdrawn by recipient | $750.00 | 4 |
Detailed Award Results
Name: RPL DeFi
Proposer: regexbuster
Type: Grant
Subcommittee: Marketing
Link to Application: Round 18 - GMC Call for Grant Applications - Deadline is November 7 - #2 by regexbuster
Decision: Approve
Requested Funding: $1,560
Awarded Funding: $780
Score: 3.33
Comments: The GMC approves funding for RPLDeFi for six months, acknowledging its current value while supporting incremental improvements and encouraging broader platform coverage to maximize its benefit to the Rocket Pool community.
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Value to the Community: RPLDeFi is a cost-effective tool for tracking and utilizing rETH across DeFi platforms, offering significant value to users who leverage Rocket Pool in the DeFi ecosystem.
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Scope for Further Development: Expanding the tool to include additional platforms like Flatmoney, Aave, and Notional Finance would greatly enhance its utility. Encouraging regexbuster to proactively identify and track more platforms could further boost its relevance.
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Improvement Opportunities: While the spreadsheet format is functional, transitioning to a website would improve user experience and presentation. This, however, would require separate funding and is not part of the current grant approval.
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Six-Month Grant Duration: Consistent with GMC’s standard practices, funding is approved for six months. This timeframe allows for evaluation of the tool’s continued impact and performance.
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Encouragement for Proactive Updates: The grant includes an expectation for regexbuster to actively research and integrate additional platforms and data, ensuring the tool remains comprehensive and beneficial.
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Potential Alternative Solution: The GMC reminds regexbuster about the approval of RocketFi in round 17, ensuring transparency and avoiding potential misunderstandings if RocketFi develops into a comparable or alternative solution in the future.
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Name: Patches Team Partnership #2
Proposer: Patches
Type: Grant
Subcommittee: All
Link to Application: Round 18 - GMC Call for Grant Applications - Deadline is November 7 - #3 by Patches
Decision: Approve
Requested Funding: $104,000
Awarded Funding: $104,000
Score: 5
Comments: Funding for Patches’ continued contributions is approved, recognizing his critical role, exceptional value, and alignment with the protocol’s strategic goals. The GMC commends his impactful work and looks forward to his ongoing support in driving Rocket Pool’s success.
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Critical Development Resource:
- Patches is a vital contributor to Rocket Pool’s development and an asset to the protocol.
- His work has consistently demonstrated exceptional quality and value, making his contributions indispensable to ongoing progress.
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Exceptional Value for Money:
- The quality and volume of Patches’ work per hour far exceed expectations and are unmatched compared to other funding requests.
- His output is recognized as one of the most impactful uses of the GMC’s funding.
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Support for Saturn Progress:
- Patches’ contributions are critical for advancing Saturn 1 and 2, which are high-priority initiatives for the protocol.
- Continued funding will ensure expeditious progress on these important milestones.
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Alignment with Community Goals:
- Maintaining Patches’ involvement aligns with the broader objective of expanding the protocol’s development capacity.
- His work sets a model standard for potential future development partnerships within the protocol.
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Verification and Sustainability:
- As requested by Patches, formal verification of the value of his work with the team is supported to ensure transparency and alignment.
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Name: Incentives Grant
Proposer: AlphaGrowth
Type: Grant
Subcommittee: Research
Link to Application: Round 18 - GMC Call for Grant Applications - Deadline is November 7 - #8 by SSJ2_Spartan
Decision: Approve
Requested Funding: $40,000
Awarded Funding: $40,000
Score: N/A
Comments: The GMC approved the proposal with strict conditions to ensure oversight and effective use of funds. AlphaGrowth’s early performance is a concern, and the GMC expects detailed proposals and measurable improvements before releasing any additional funding. Future support will depend on clear results and demonstrated impact.
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Conditional Approval: The GMC approved the proposal with the condition that funds will be held by the GMC and distributed only after detailed proposals for each specific incentive program are submitted and reviewed.
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Unclear Purpose of Funds: Members expressed the need for a clearer understanding of how the requested 4,000 RPL would be used. Without concrete details, allocating funds for incentives seemed premature.
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Underwhelming Results to Date: The GMC noted that AlphaGrowth’s early performance has been underwhelming, with little measurable progress from the initial grant.
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Opportunity for Improvement: Despite concerns, the GMC recognized that funding has already been allocated and there is still a desire to maximize the project’s potential. This conditional approach aims to ensure that future efforts are more effective and properly aligned with Rocket Pool’s goals.
Pay Structure: GMC will hold the funds and only approve detailed incentive proposals submitted by AlphaGrowth conditionally on a case-by-case base. The default verification will be majority member approval, but this can be adjusted by the committee if it is determined more flexibility is required.
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Name: Smart Contract Wallet - Solo Stakers
Proposer: Patches
Type: Retro
Subcommittee: Development
Link to Application: Round 18 - GMC Call for Retrospective Applications - Deadline is November 7 - #2 by Patches
Decision: Approve
Requested Funding: $1,000
Awarded Funding: $666.66
Score: 2.67
Comments: The GMC approves 66% funding for the Smart Contract Wallet for Solo Stakers, acknowledging its value as a community-oriented initiative and its alignment with Ethereum’s decentralization goals.
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Positive Public Relations: Supporting solo stakers through this initiative provides a valuable opportunity for good public relations within the broader Ethereum community. This action aligns with the GMC’s commitment to fostering community goodwill.
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Alignment with GMC Sponsorship: While the project does not directly benefit Rocket Pool, it ties into the GMC-sponsored Rescue Node, showcasing the protocol’s dedication to supporting Ethereum stakeholders at large.
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Broader Community Impact: Funding this initiative serves as a net positive for the Ethereum ecosystem by enhancing tools available to solo stakers, which indirectly promotes decentralization and protocol strength.
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Cost Justification: Approving 66% of the requested funding strikes a balance between supporting the project and ensuring resource allocation remains prudent.
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Potential for Outreach: This initiative could serve as a subtle form of advertising to solo stakers, raising awareness of Rocket Pool and its commitment to Ethereum’s growth.
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Name: RPLDeFi Retro
Proposer: regexbuster
Type: Retro
Subcommittee: Marketing
Link to Application: Round 18 - GMC Call for Retrospective Applications - Deadline is November 7 - #3 by regexbuster
Decision: Approve
Requested Funding: $960
Awarded Funding: $960
Score: 3.33
Comments: The GMC approves retroactive funding for RPLDeFi, recognizing past efforts and supporting ongoing improvement.
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Recognition of Contributions: Retroactive funding acknowledges regexbuster’s consistent and valuable updates for tracking rETH in DeFi platforms.
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Alignment with Future Support: As future updates are funded, this approval ensures fairness and continuity for past efforts.
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Encouragement for Improvement: While impactful, the GMC encourages enhancements like broader platform coverage and improved usability.
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Name: Token Motion Design Subscription
Proposer: Sleety
Type: Grant
Subcommittee: Marketing
Link to Application: Round 18 - GMC Call for Grant Applications - Deadline is November 7 - #7 by sleety
Decision: Defer with Future Consideration
Requested Funding: $29,970
Score: 2
Comments: The GMC defers funding for Token Motion Design, emphasizing the need for a clearer plan and exploring alternative payment structures while expressing strong interest in future collaboration.
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High-Quality Work: Sleety produces exceptional visual media and have deep knowledge of Rocket Pool, making them a valuable resource.
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Cost Concerns: The proposed retainer is expensive, especially given the current financial constraints and the uncertainty about frequent usage of the service.
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Need for Clear Planning: The lack of a clear vision or structured plan for the committee utilizing the service raises concerns about maximizing value for the cost. There has been some new legal implications for the protocol and the GMC is still discussing when and at what capacity marketing should be prioritized.
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Pricing Flexibility: During discussions, Sleety offered to reduce the retainer to a minimum of 7 hours per week to lower costs. While this flexibility is appreciated, the GMC is still deliberating on whether this aligns with the protocol’s current priorities and budget.
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Commitment to Future Collaboration: The GMC recognizes Sleety’s importance and aims to revisit this proposal when there is better financial flexibility and a defined strategy for using the service.
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Name: beaconcha.in V2 Dashboard
Proposer: Butta
Type: Grant
Subcommittee: Development
Link to Application: Round 18 - GMC Call for Grant Applications - Deadline is November 7 - #6 by Butta
Decision: Defer with Future Consideration
Requested Funding: $15,000
Score: 3.33
Comments: The GMC defers this proposal to gather further information and community input, with a commitment to revisit the application in a future funding round once these considerations are addressed.
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High Potential Value: Beaconcha.in is a widely used service among Rocket Pool node operators, and the proposed V2 dashboard offers potential for greater data insights and options at a relatively low cost.
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API Accessibility: Future API access could be valuable for broader applications, such as aiding in MEV theft monitoring, though it currently requires additional exploration to maximize its utility.
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Need for Further Evaluation: Additional analysis is needed to clarify the dashboard’s specific use cases and operational framework. Specifically, determining how to effectively utilize the dashboard and ensure its integration into Rocket Pool’s operational ecosystem is crucial. Discussion is warranted to ensure the proposed features align with broader protocol priorities and resource allocation strategies.
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Name: RP Explorer
Proposer: trooper
Type: Grant
Subcommittee: All
Link to Application:
Decision: Decline
Requested Funding: $150,000
Score: 2.875
Comments: The RP Explorer project, while high-quality in its proposal and promising in concept, does not align with current budgetary priorities and presents concerns regarding long-term costs and developer commitment. The GMC recommends revisiting this proposal in a more favorable financial climate or with a revised, lower-cost plan.
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Treasury Constraints:
- The funding request is substantial, and the current state of the GMC treasury does not allow for such a large expenditure.
- Prioritizing other initiatives with higher impact on the protocol is crucial given the limited budget.
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Project Value and Necessity:
- While the concept of an RP Explorer is appealing, it is seen as a “nice-to-have” rather than an essential tool for the protocol’s growth or operation.
- Much of the data proposed for inclusion is already accessible through existing tools like Rocketscan and Rocketwatch, albeit with different user interfaces and approaches.
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Concerns About Sustainability:
- There are worries about ongoing costs and the potential for the project to become a financial burden in the future.
- The project risks becoming a “money sink” without delivering sufficient return on investment.
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Developer Commitment Issues:
- Peteris’ current focus on other projects and delayed timeline for an updated RocketScan raise concerns about its prioritization and timely delivery.
- The delayed start (not until at least December) and preference for other projects further diminish confidence in timely delivery.
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Future Considerations:
- Several members expressed willingness to reconsider funding if the treasury situation improves or if the project can be completed at a lower cost.
- Open-sourcing the backend—an issue from the last round—has been addressed but does not sufficiently offset other concerns.
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Name: Rocket School
Proposer: Tricky
Type: Grant
Subcommittee: Marketing
Link to Application: Round 18 - GMC Call for Retrospective Applications - Deadline is November 7 - #4 by Tricky.eth
Decision: Decline
Requested Funding: $11,000
Score: 2.5
Comments: While Rocket School has delivered valuable educational content, the project’s outdated materials, unclear usage metrics, and ongoing financial requirements make it challenging to justify additional funding at this time. The GMC recommends reassessing the initiative’s approach and priorities before considering further support.
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Sunk Cost Concerns:
- The initiative, while valuable in concept, risks falling into a sunk cost fallacy.
- Significant resources have already been allocated, and the current website and content are deemed sufficient for now.
- Usage metrics for Rocket School remain unclear, making it difficult to justify additional funding.
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Outdated Content:
- Key aspects of the protocol, such as the RPL requirements, are already outdated in the provided materials.
- Updating high-quality video content is labor-intensive and time-consuming compared to other forms of documentation.
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Sustainability and Future Costs:
- Maintaining and updating the platform will require ongoing financial commitments, potentially leading to higher cumulative costs.
- Future upgrades would necessitate a guarantee of timely updates to video content, adding to the resource burden.
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Mixed Opinions on Value:
- While the videos and subpages are acknowledged as high-quality, concerns persist regarding the overall return on investment for the project.
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Alternative Priorities:
- The GMC’s focus should remain on initiatives that directly enhance protocol adoption and sustainability.
- Allocating resources to other areas could yield greater benefits for the community and protocol growth.
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Name: Rescue Node Quote Usage Visibility
Proposer: Patches
Type: Retro
Subcommittee: Development
Link to Application:
Decision: Withdrawn by Recipient
Requested Funding: $750
Score: 4
Comments: The GMC acknowledges the value of the newly implemented feature for Rescue Node usage visibility, which addresses a frequently requested need within the community. The collaboration between Patches and Sno in delivering this enhancement is commendable, and the feature is seen as a significant improvement to the Rescue Node. However, as the recipient has stated they do not wish to seek funding for this effort, the GMC will not allocate funds for this project.
Bounties That Need Definitions
GMC is requesting support writing a definition for the DAO Engagement Discussion bounty.
Member Participation
Leighm.eth did participate in the discussions but his scores were not used since he left mid-round. LenofTawa joined too late to participate.
Final Voting Stages
There were four amendments declared during the final voting stages.
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A) Deny GA182404 - beaconcha.in V2 Dashboard (Butta)
Unsuccessful
5 - No
1 - Yes
1 - Abstain -
B) Deny GA182406 - Incentives Grant (AlphaGrowth)
Unsuccessful
6 - No
1 - Yes -
C) Deny GA182405 - Token Motion Design Subscription (Sleety)
Unsuccessful
4 - No
2 - Abstain
1 - Yes -
D) Approve GA182406 - Incentives Grant (AlphaGrowth) (w/ GMC control)
Successful
8 - Yes
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Join the GMC server here.