Abstract
- We propose Graph Advocates DAO launch Graph Advocates DAO grants (GAGP) program with a budget of $200k spread across 2 quarters to fund a wide variety of teams aligned with Graph Advocate’s mission and roadmap using Delegated Domain Capital Allocation Model. Questbook is leading Compound grants program through delegated domain capital allocation model, a community-run grants program
- We additionally propose that this budget be managed by 4 individuals called Domain Allocators - chosen from the community and by the community. These domain allocators would manage grants for a domain. These domains are strategic areas of focus for which Graph Advocates DAO wants to disburse grants
- The performance of each of these domain allocators will be publicly viewable and auditable using rich dashboards. At the end of the quarter, the Advocates DAO community can vote to replace, continue domain allocators or increase budgets for each domain allocator.
- We (Questbook.xyz) will help facilitate setting up these domain allocators and provide the tooling to run the grants program in an efficient and transparent way. We have previously set up or currently setting up the grants process for Compound, Polygon, Solana, Celo, and Aave
Motivation
As we continue to experience the depth of the bear market, it is increasingly important for Graph Advocates DAO to retain the mindshare of key ecosystem contributors and incentivise builders to build on top of it. Grants program is a great way to attract high-quality builders and grow the ecosystem more quickly. We propose that Graph Advocates DAO use Delegated Domain Capital Allocation model to to attract high-quality builders and accelerate its ecosystem growth. The Delegate Domain Allocation model is popularized by the Ethereum Foundation.
“We also believe that more decentralized funding is important for the future of the Ethereum ecosystem. We continuously try to allocate resources to third parties that we believe can make better decisions than us within certain domains.” - Executive Director Ethereum Foundation [link]
Each domain allocator will run their domain on-chain for full transparency using Questbook. The data and performance across key metrics will be visible to the community in order to evaluate the domain allocator’s performance.
https://lh3.googleusercontent.com/5IP2JJ7Wh-HdMRpG96-5agGNSEqAg0ESc0fUp1Uk03e5rGX2yuI3a_-LKXiS8-nfLht7NomwHSzoULCdl47QKOL58AZ7LezAaUHh5EhZ2LfDRE-WEPxh4nt8qApwGZT-BQBTMCaAE8cf-p2u8VDvz_k
This proposal details the benefit to all the stakeholders involved - token holders, builders and DAO members.
Benefits to Graph Advocates DAO 🚀
- Aligned allocation of funds: By leveraging the Delegated Domain Allocator (DDA) model, the Graph Advocates DAO can ensure that funds are allocated to projects that align with the domain (key areas selected by the Graph Advocates DAO community), promoting efficient and effective use of resources
- Increased transparency: The Delegated Domain Allocator approach provides a clear and transparent process for allocating funds, ensuring stakeholders understand the decision-making process. Questbook, a decentralized grant management platform, provides a transparent space for teams to showcase their backgrounds and experience. In addition, Questbook's reporting features will allow the Graph Advocates DAO to quickly generate monthly reports on the allocation of funds, with the details for each grant proposal.
- Increased accountability: With a dedicated group of stakeholders responsible for allocating funds, the Delegated Domain Allocator approach promotes increased accountability, ensuring that the funds are used effectively and efficiently. Domain allocators can be replaced through a community vote if their performance is not up to the standards accepted by the community.
- Increased Community Participation: Delegated Domain Capital Allocation approach is aligned with the Graph Advocates DAO's mission to drive greater participation in building a
decentralized web3 and grow The Graph ecosystem by supporting community-based initiatives
- Turnaround Time (TAT): The Delegated Domain Allocator model will help significantly improve proposals' turnaround time and overall outcomes for the ecosystem. An example of this is Compound who's already leveraging the DDA model and has a communication TAT of less than 48 hours.