Contribute PASTA to Gitcoin Grants

Proposed by @monet-supply.

Background

In a previous snapshot vote, the community signaled support in principle for contributing funds for public goods grants. Gitcoin is one of Ethereum’s preeminent public goods funding mechanisms, and would be a good candidate for PastaDAO’s initial contribution campaign.

Vitalik Buterin also mentioned the value of ongoing grants funding in his recent post on Gitcoin Grants Round 9. PASTA’s ingrained transfer fee mechanism could serve as a foundation for sustainable ecosystem contributions, while retaining enough funds for community development initiatives and protocol reserves.

Proposal

I propose a two part donation to Gitcoin Grants matching fund.

• One time initial contribution of 150,000 PASTA to Gitcoin Grants Round 10, with the intention of PastaDAO joining as a sponsor (roughly 10% of PastaDAO's initial foodbank funding)
• Ongoing donation of 10% of tokens earned by the protocol foodbank through the PASTA transfer fee, until such time as governance passes a further proposal to discontinue the donation

Note that Gitcoin accepts funds in either DAI or ETH, so PASTA amounts shown above will be exchanged for one of these assets at the multisig signers’ discretion before funds are sent to Gitcoin.

The ongoing donation will be targeted towards matching funding for future Gitcoin rounds, with accumulated assets transferred to Gitcoin on a quarterly basis.

Next Steps

If this measure is approved by voters, the PastaDAO multisig will be authorized to convert 150,000 PASTA to DAI or ETH and transfer this amount to Gitcoin for use as matching funds in grants round 10.

Furthermore, the multisig will earmark 10% of future inflows from PASTA transfer fees for Gitcoin grants matching, with funds converted to DAI or ETH at the multisig signers’ discretion and transferred on a quarterly basis. This will continue until a governance proposal discontinues the ongoing donation.

Proposal Question

Do you support donating an initial 150,000 PASTA to Gitcoin Grants Round 10 matching fund, with ongoing donations of 10% of transfer fee revenues to future Gitcoin matching rounds?