[FIP - 111] Participate in Gitcoin Funding Round

Authors

Frax Core Team

Summary

The objective of this proposal is to authorize a $150k FRAX maximum donation to the next Gitcoin round at the discretion of the team.

Background and Motivation

Gitcoin is where the world’s leading web3 projects are born, validated & funded. This includes @Uniswap, @poapxyz & @BanklessHQ, just to name a few!

Gitcoin Grants allows individuals to get funding for a public goods project they are working on. It leverages Quadratic Funding (QF) to allocate extra funding from a matching pool to the most impactful projects based on the number of contributors. And this ensures that projects doing the most significant public good get the most support.

The latest Gitcoin Grants Round (GR15) featured three types of rounds:

1. Main Round with $500k in matching funds
2. 13 Ecosystem Rounds with a total of over $1.3 million in matching funds
3. Four Cause Rounds with a total of $1M in matching funds (Climate Solutions, Crypto Advocacy, DeSci, DEI)

It was supported by multiple matching sponsors such as Vitalik Buterin, Aave, Yearn, Polygon, ENS, Chainlink, and 1inch.

We believe our industry aims toward a paradigm in which smart contracts are the predominant type of digital agreement, which depends heavily on open-source contributions. Therefore, supporting open-source development is, in our opinion, an essential duty, particularly if blockchain infrastructure is to maintain its value as a vitally important public asset that benefits everyone.

PROPOSAL

• For: Authorize $150k FRAX maximum donation to the next Gitcoin round at the team's discretion.

• Against: Do nothing