oneGTC: A $GTC Backed Economy

This proposal is the first of it's kind, aimed at treasury optimization and creating a more sustainable method for distributing GTC to the GitcoinDAO workstreams, a few benefits to this proposal:

• Having a stable token for the GitcoinDAO allows the DAO to fund work streams with certainty, instead of being victims of market fluctuation.

• Using $oneGTC as the preferred token for rewarding contributions to workstreams will lead to retaining more value within the Gitcoin ecosystem.

This allocation was proposed on the forum in this Initial proposal: oneGTC 👀open for comments/feedback. Discussed by Stewards and the wider community for over 3 weeks.

After engaging with the ICHI community, discussing the potential benefits, use cases, and clarifying the value proposition of using a native stable coin we have gathered enough support to bring it to a vote.

Voting "Yes"

If you vote "Yes" you are voting in support of a proposal to create a oneGTC token that will be backed by a mix of $GTC and USDC, you are also voting to approve a 45,000 GTC token budget to be allocated for the bootstrapping of the token treasury.

Voting "No"

If you vote "No" you are voting against this proposal in it's current form.

If the community selects "Yes" by the end of the voting period, keyholders of the Community Multisig will be notified that the workstream payments will be allocated into the oneGTC treasury.

If the community selects "No", no action will be taken at this stage and discussion will continue to find an optimal outcome.