PTIP-62: Grants Committee Funding (Q4)

Do you approve continued funding of the PoolGrants program?

Governance post: https://gov.pooltogether.com/t/ptip-62-grants-committee-funding-q4/2058 On-chain vote: https://vote.pooltogether.com/proposals/32

Summary The PoolGrants program was created through PTIP-14: PoolTogether Grants Committee 1. In PTIP-48 2, governance approved an identical budget ($500k/Quarter) as in PTIP-14 for Q3 and Q4. In order to limit the funds at risk in the multisig wallets, only Q3 funds were transferred to the PoolGrants wallet. Now that Q3 has concluded, governance is requested to approve the transfer of budget funds to PoolGrants for Q4, which runs from 2/19/2022 to 5/18/2022.

Q3 review PoolGrants Q3 was much more focused on funding and empowering projects from within the community, rather than external initiatives.

Highlights include the community substack, coordinape and underthesea’s quality of life projects, such as poolexplorer.win 2 and wheresthedrip.com 1.

We also supported delegation experiments such as NFT Christmas cards and the Valentine’s delegation NFT giveaway. These were enormously successful and from now on we plan to have 100k USDC earmarked for delegation initiatives on an ongoing basis.

We look forward to supporting more awesome community projects like these in Q4!

Specification In Q3, we funded grants to the amount of $88.5k and spent $15.6k on committee wages and gas expenses.

At present, the committee multisigs hold about $41k worth of POOL (@$2.44) and 142k USDC, across Ethereum and Polygon. We have $60k committed to open grant milestones. Consistent with the plan and soft consensus reached in PTIP-48, PoolGrants requests the transfer of 85.6k POOL (worth $209k) and 108k PTaUSDC from the PoolTogether treasury to the PoolGrants Ethereum multisig wallet, to restore it to a total of $500k as budgeted.

The POOL amount is so high because the POOL we received for Q3 has depreciated a lot in value since then.

Transparency As we are funded by PoolTogether governance, it is important that PoolGrants operations are transparent. You can find our transparency resources below. If there is anything you would like to see improved in this area, please let us know.

• Medium articles & updates 2

• Complete list of funded projects 4

• Committee time tracking 1

Technical specification • Transfer 85’600 POOL ($209k) from the PoolTogether treasury to the PoolGrants Ethereum multisig wallet.

• Transfer 108’000 PTaUSDC from the PoolTogether treasury to the PoolGrants Ethereum multisig wallet.

PoolGrants’ Ethereum multisig wallet address: 0xd605bB8A3DA1f7f777276D3c97c828aAc3Dd4252