How does FDD provide value to Gitcoin?

The primary concern of the FDD workstream is defending Gitcoin. The quadratic funding mechanism is susceptible to sybil attack. Defending Gitcoin Grants from sybil attack is our primary focus.

Defense

During GR9, the fraud tax was 2.1%. We brought this number down to 0.61% for GR11. This means the measurable amount our fraud detection & defense efforts saved the community is around $55,000.

This doesn’t include the amount that was deterred, the attackers who gave up, and the attacks made no longer possible by our increase of the cost of attack, minimum bound on donations, and better screening of grants to weed out bad actors.

Unmitigated it wouldn’t be unreasonable to think the amount FDD saves for the community is most likely in the range of $100k to $250k or per quarter (napkin math). And that number grows every round.

Additionally, through the grant approval and disputes processes, we now have community oversight of all content moderation decisions. This manifests itself in the community being able to establish norms like Tornado Cash and MatrixETF being flagged for having raised funding and voluntarily giving up their match eligibility.

This simple act returned over $50,000 to the community.

The FDD Defense budget for Q3 was $150,000 meaning that the direct mandate functions most likely provided more value to the community that they cost.

DAO Support

Many of the DAO Support functions fall into one of two categories.

The first are functions needed for multiple streams being made available to others. A couple examples include the DevOps needed for Anti-Sybil microservices and the squad payment management needed by all structured streams.

The second are created in response to urgent issues needing immediate attention. User Support and Onboarding both fall into this category.

These functions are difficult to put a number on as they are the types of functions which are only noticed when they aren’t working. As a DAO, the need to efficiently and effectively connect contributors and facilitate their participation is one of our highest priorities. During Q4, we will work to find metrics which will help showcase the health of these streams.

What does FDD care about?

Our Vision

Our vision is a world where resources are perfectly allocated across society to provide the happiest & healthiest future possible for our species. A world where open and permissionless systems allow for anyone to show what they are worth rather than being told. Where individuals can exit a system that no longer matches their values without sacrificing their wellbeing. A world where the martyrs no longer exist because our collective and individual interests are aligned. We call this the Quadratic Lands.

GitcoinDAO is the vessel that will take us to the Quadratic Lands. Until we arrive, GitcoinDAO will be the catalyst allowing anyone to transform their time or capital into impact.

A DAO is truly a DAO when its members are fully autonomous in a sustainable economic system.

Autonomy is about the freedom of individuals to approach chaos, where learning and discovery happen. A sustainable social-economic system is one where the majority of the interactions are positive-sum.