[RGP-19] Drips Org Proposal 2024

| Author(s): | @lftherios | | --- | --- | | Type: | Org | | Created: | 2023-11-06 | | Discussion: |https://community.radworks.org/t/discussion-rgp-19-drips-org-proposal-2024/3409 | | Status: | active |

TL:DR; In response to the feedback that we received:

• we made minor changes to the definitions of the metrics we use
• we added a link to our Etherscan contracts so folks can monitor funds currently in the contract. We will also share a more detailed Dune dashboard the moment Dune resolves their issues with event ingestion.
• we slightly increased the budget requested from $1,103,645 to $1,183,278, as a few contributors committed to more hours for 2024.
• we added a link to the MOU between Radworks and Drips.

Purpose

The team’s mission is to enable FOSS developers to financially thrive.

In short, the Drips Org is taking on the problem of FOSS sustainability. We develop novel protocols, tools and applications that enable new value flows for developers in order to receive funds from their users.

Our current focus is on establishing Dependency Funding as a new norm for Web3 communities to fund their critical software dependencies.

Strategy & Roadmap

Strategy

Our strategy for 2024 remains "funder focused", meaning that we prioritize funder neeeds within our execution with the goal to (a) attract more funders and capital in Drips that is directed towards their critical software dependencies and (b) to onboard more FOSS projects that claim those funds and choose to further split those funds with their software dependencies.

KPIs

1. Number of orgs that use Drips to fund their critical software dependencies
2. Total $ value deposited in Drips
3. % $ value collected by recipients
4. % projects that have claimed who also choose to split to their dependencies
5. Funder retention

Yearly Objectives

• 20 orgs in total that use Drips in 2024 to fund their dependencies
• $10m deposited in the Drips protocol

Roadmap

Following our "funder focused" approach we plan on working on the following topics:

Introduce the option to KYC recipients before they claim funds.

This is currently a blocker for a number of orgs that consider this a hard pre-requisite in order to fund their critical software dependencies. We plan on integrating with an existing provider that provides this optional capability.

Multi-party Drip List creation

This is addressing the friction for a group of people to collectively agree on the items of a Drip List and the associated %s. We believe that this feature can provide a much smoother UX for DAOs to fund their critical software dependencies.

Scaling notification of recipients

This is something that we do manually today via Github issues, Twitter and email but this isn't scalable. We are looking to automate some of that work with the goal to notify more users that funds are waiting for them and have them claim them.

Partner with well-known orgs & co-create topic-specific Drip Lists

This piece of work aims to explore the possibility to use Drip Lists as a curation mechanism for funding FOSS work. The idea here is to partner with well established organizations in order to a. create a Drip List that is specific to a topic b. bring awareness to the recipienets for the work they are doing with regards to this topic and c. fund it.

An example would be if we partner with the EF and the Tor Foundation to create a privacy specific list for the Ethereum community. In this example privacy related FOSS projects & researchers & engineers that contribute impactful work on the domain will be selected and a campaign will be created in order to fund this Drip List.

Migrate to Chainlink's decentralized oracle network

This piece of work aims to replace our current dependence on a selected group of Chainlink Oracle providers with their decentralized network of oracle providers. This is not yet on main-net but we've been working with their team and we will be ready to migrate when they launch it. We consider this work important as it minimizes the risk of oracle misbehavior and as a result the risk of loss of funds.

Lowering the barrier-of-entry for claiming

We plan to leverage account abstraction so that users can claim and manage projects without a pre-existing Ethereum identity, increasing the velocity of funds.

Attract funders beyond established DAOs

One of the things that we plan to do in 2024 is to expand our focus beyond well established DAOs which is our current segment. Specifically in 2024, we want to do the partnership and product work that will allow us to attract funders from the following market segments:

• existing DAOs (this is our current focus)
• DAOs to be formed. The work here would be to convince teams that are about to launch their native token to commit to a scheme where they pay it forward to their dependencies for the next few years.
• well funded web3 companies. The attempt here would be to expand beyond DAOs and try to attract "off-chain" actors from the crypto industry (think crypto exchanges, wallets etc.)
• traditional tech and finance organizations. An example here is the recent commitment from Van Eck to fund Protocol Guild with 10% of their profits. This is less defined than the rest but we want to explore the opportunity space and further define our strategy for this market segment later in the year.

Quarterly Objectives

For Q1 2024 we want to:

• attract 5 new orgs that fund their critical software dependencies
• additional $1m deposited in Drips

Organizational Structure

We have established a Swiss non-for-profit association that we call the Public Goods Association that is the recipient of funds. The founding members operate as a committe based on simple majority (3 out of 5).

The Association is an independent legal entity with legal capacity. It is governed by Swiss law. The official language of the association is English.

Founding Members

lftherios (current project lead) json (product & application development) jtourkos (product, SDK & application development) everett (product & application development) brandonhaslegs (design)

Contractors

IgorZuk (smart contract development) earthwindfirewater (partnerships, research & strategy) LukeF (partnerships) Project Jasmine (operations) Abbey Titcomb (partnerships)

Contributors

• lftherios (project lead)
• json (product & application development)
• jtourkos (product, SDK & application development)
• everett (product & application development)
• brandonhaslegs (design)
• IgorZuk (smart contract development)
• earthwindfirewater (research & partnerships)
• LukeF (partnerships)
• Project Jasmine (operations)
• Abbey Titcomb (partnerships)

Communication

• https://www.drips.network/
• Discord
• twitter.com/dripsnetwork
• https://github.com/drips-network
• Quarterly Radworks community calls

Reasoning & Analysis

Drips empowers builders to continue contributing to the commons (Free and Open Source Software) by creating new value flows towards them based on their impact.

In short we believe that our work strengthens the incentives to build FOSS by re-distributing wealth towards the most impactful FOSS projects. We consider this an essential part of the Radworks mission to cultivate internet freedoms.

Reporting & Success Criteria

1. Number of orgs that use Drips to fund their critical software dependencies.
2. Total $ value deposited in Drips
3. % $ value collected by recipients
4. % projects that have claimed who also choose to split to their dependencies
5. Funder retention

We will share a link to a Dune dashboard as soon as possibe. Dune is currently having issues ingesting our event data. On the meantime you can monitor the total $ value deposited on the protocol here under "Token Holdings: https://etherscan.io/address/0xd0dd053392db676d57317cd4fe96fc2ccf42d0b4

Through Q2 2024, the Foundation Org will provide monthly financial reporting to Radworks on behalf of the Foundation, Radicle, Drips and Grants Orgs. Therefore, starting in Q3 2024, the Drips Org will publish monthly financial reports on Radworks-granted funds spent by the Drips Org.

Retrospective

https://community.radworks.org/t/drips-org-2023-retrospective/3406

MOU

https://community.radworks.org/t/mou-radworks-drips-org/3411

Timeline & Budget

The total budget requested for 2024 is $1,183,278.

Specifically:

| Description | Budget | | ------------------- | -------------- | | Contributors | $1,405,421 | | Marketing | $325,809 | | Offsites | $30,000 | | Accounting | $9,307 | | Operations | $12,740 | | Total | $1,783,278 |

This includes budget to bring on a marketing lead for Drips.

Budget carried over from last year

There will be an estimate of $600,000 left over at the end of 2023.

Requested budget

1,783,278 - $600,000 = $1,183,278

Fund Management

We plan to use a multi-sig (gnosis safe with 3/5 signatures) with founding members as signers. We won’t use a bank account. Crypto to FIAT conversions will take place through Skyline Digital and that’s why you see the fees on our budget.

The Drips Org - also the "Grant Recipient" of Radworks, if this proposal is passed - hereby agrees to use the amount granted by Radworks in support of fulfilling the purpose outlined in the "Purpose" section above. The Grant Recipient understands and acknowledges that the awarded amount may be used only for this Purpose. Furthermore, any part of the grant that goes unused in the calendar year outlined in this proposal (for 2024) will either be returned to the Radworks Treasury (by March 2025) or rolled over into and applied towards the Org's 2025 proposal and future grant from Radworks.

Technical Implementation

The proposal will transfer 1183278 USDC to the Public Goods Association multisig, which is controlled by five signers, with a three out of five quorum.

Signature:
transfer(address,uint256)
Calldata:
address:
0xcC7d34C76A9d08aa0109F7Bae35f29C1CE35355A
uint256:
1183278000000
Target:
0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
Value:
0

0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48 0 "transfer(address,uint256)" 0xcC7d34C76A9d08aa0109F7Bae35f29C1CE35355A 1183278000000
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