The GIVeconomy WG has been hard at work this past season and hoping to ramp up even more as we move into S4. The GIVeconomy WG is responsible for all things GIV - GIVbacks, GIVpower, GIVstream - if you can “GIV” it a name, it probably falls within our jurisdiction.
If you missed out last proposals you can check out them out here for Season 1 and here for Season 2 & 3.
Season 3 Review
In this section we will break down our deliverables and provide an update on it’s status and any relevant information. We’ll also cover our spending in Season 3 and compare it to our estimated budget we covered in the previous Season proposal.
| Deliverable | Status | Description |
|---|---|---|
| Bring the GIVeconomy to other chains/networks as promised by won grants |  Ongoing |
We are on track to deliver Polygon zkEVM this summer |
| Create GIVeconomy Analytics dashboard |  partial completion |
This is nearly done, was delayed in favour of DeVouch |
| Integrate Connext bridge | partial completion |
We were blocked for months by connext but have recently set this up with preliminary liquidity here |
| Stratgize how to integrate Gurves w/ q/acc | Ongoing |
Agreements between Giveth & q/acc have been signed, and we have been in ongoing discussions as the q/acc product is still in design phase |
| New system for GIVbacks recirc checks | Ongoing |
We have worked with Trustalabs for recirc data reporting and have created a preliminary deal. We have also started training @wmb81321 & Rob to support on recirc reviews, but are considering changing GIVbacks instead of continuing recirc improvements |
| Improve GIVbacks, mirating away from Aragon DAOs |  Deprioritized |
This work was deprioritized in favour of devouch |
| Fix GIV token listing information & logos on major sites | Ongoing |
CoinGecko, CMC, Jupiter & Sushiswap are updated, more coming |
| Investigate getting GIV listed on CEXs | Ongoing |
GIV is listed on LBank, we have a proposal in the queue for MEXC and are applying to get on Binance |
| GIV liquidity Audit |  DONE! |
@wmb81321 created this audit which served as a foundation for us optimizing much of GIV’s liquidity (and securing more!) |
| Marketing around GIV listings on exchanges | Ongoing |
GIV was featured in yahoo finance, globe & mail, and we pushed our regular social media content. considering an Lbank twitter space AMA in the future |
| New marketing strategy for GIV | Partial completion |
Mobilized our team on twitter, created content for tweets & blogs, hired, trained & lost a contributor, interviewed several marketing agencies, started weekly calls |
| Calculate & distribute GIVbacks & $nice for each round | Ongoing |
This has been happening regularly. |
| Maintain GIVpower staking rewards | Ongoing |
Rewards have been extended until mid Nov 2024 |
| User support related to GIVeconomy questions | Ongoing |
@WhyldWanderer & @NikolaCreatrix have been holding it down! |
Extras
| Deliverable | Status | Description |
|---|---|---|
| Finish GIVgarden deprecation | DONE! |
All the funds have been moved safely to a new multisig for control via Snapshot vote |
| Update documentation | Ongoing |
GIVbacks, project verification, GIVpower, GIVgarden, and more incoming |
| Created new discord role & channel for Giver NFT holders | DONE! |
This was set up for the Galactic Giving QF round as a place for holders to coordinate nominations |
| GIV Token Distro Audit | Partial completion |
We have been analyzing the changes to our GIV “buckets” since launch, and how much remains in each bucket |
| Find market maker | Partial completion |
This is to support GIV price action. We found a good one! Agreement pending |
| Build trading bot & arb bot for Lbank & beyond | Partial completion |
Trading bot is complete but pending improvements, arb bot is IPR |
| Subgraph migration | Partial completion |
Resulting from deprecation of our subgraph, we need to migrate to support the GIVeconomy |
| Retroactive GIVbacks for QF sponsors | DONE! |
All sponsors from all QF rounds have now received their GIVbacks |
| Find marketing agency | Partial completion |
We’ve interview 4 candidates and have selected our favourite, separate forum post coming |
| Ran 2 GIV Token Essentials | DONE! |
Offered GIV info session to internal contributors to align the team on the roadmap |
| GIV on LBank Market Making | Ongoing |
Ensured >$10k daily trading volume and market moves every 4-8 hrs to match current price |
Core Metrics 
- GIV performs as well ETH over this 3 month period
- Increase GIV token trading volume by 100%
- Add GIVeconomy to 1 major chain
- Number of GIVeconomy metrics that can be tracked by dashboard: 10
- Get GIV listed on 1 CEXs
- average 7-day volume on GIV connext bridge: >$50k
Spending
Our only real expense covered in the GIVeconomy WG is contributor salaries, as subscriptions & plans overlap w/ the dApp WG. And GIV needed for incentives, exchange listing, etc. has been and will continue to be requested via separate stand-alone proposals.
In the table below we compared the forecasted Season spending (from GIVeconomy sustain proposal) with the actual funding based on available data in Clockify from April 1 - Present. Since we are still in S3, the below includes projected spending for the upcoming weeks, considering the full period April 5 - July 5, 2024). An additional $10,792 was spent on salaries in March (outside of the scope of this WG proposal).
| Type | Estimated S3 Cost | Actual S3 Cost |
|---|---|---|
| Contributor Costs | $48,000 | $53,743 |
Reference: GIVeconomy Budget spreadsheet
GIV Token Health
You can see the GIV token on CoinGecko here. Some observations:
- GIV token trading volumes and liquidity pools are happily up to date on CoinGecko & CMC, and with this season’s CEX listing (LBank) and some in-hour MM, our 24 hr trading volume is up from ±$1k to ±$70k at-a-glance.
- ETH generally outperforming GIV
- Trading volume on our biggest (GNO/GIV pool) on Gnosis Chain is down just a little, but trading volume on our biggest pools on Optimism (OP/GIV & TEC/GIV) and up more than double.
GIV 3 mo. Charts (blue = price in ETH, green = price in USD) - from CoinGecko
Jan-Mar 2024
Mar-June 2024
GIV 1 year chart - from CoinGecko
Jan-Mar 2024
Mar-June 2024
GIV token Trading Volume on Coin Market Cap
Mar 2024
June 2024
GIV token trading volume on honeyswap, gnosis chain GIV/GNO
S2 stats
S2 stats
S3 stats
S3 stats
GIV token trading volume on Optimism through velodrome
March 2024
June 2024
One PM’s Reflections on Season 3
It was honestly a tough season. The GIVeconomy WG is at the end of the day… too bare-bones to achieve all our lofty goals with zero full-time dedicated contributors and only 2-4 contributors regularly clocking more than 20 hrs per month.
Wins
- Got successfully listed on our 1st major CEX - LBank
- Saw a big increase in trading volume leading to a longer hunt for official market makers
Loses
- Our spending this season on contributor salaries was approx. $5000 over budget at around $54k vs. the approved $48k.
- We had some serious trails and failures on recruiting, with many hours sunk into contributors who didn’t stick or follow through.
- Scope of work shifted a lot over the season, with dev resources being funnelled into devouch deprioritizing GIVbacks improvements and Analytics.
- GIV token price suffered despite efforts around marketing an liquidity
The GIV token’s success is FOUNDATIONAL to the success of Giveth. If you caught the last Giveth essentials call, you migh remember a bit about this! The very core of the Giveth roadmap is leverage new economic systems made possible by web3 to change the way the world works, and ultimately solve large-scale global problems.
The plan, in a nutshell is to:
- Bring public goods creators into web3
- Empower them to launch token economies connected to the real world value that they are providing
- Inject market dynamics therefore into the public goods sector
- Make adding value to your community economically lucrative
And we want to get there by helping verified projects to launch their own GIV-backed bonding curves - ahem, Gurves! To do that, we NEED to push GIV token adoptions and growth, so GIVeconomy WG needs support now more than ever.
Season 4 Deliverables & Budget
There are 3 possible scopes that the GIVeconomy WG can take in the coming Season, each with different deliverables and budget. The Season Snapshot vote will dictate the scope of this working group, depending on it’s signaled priority amongst other working groups, as decided by the Giveth DAO.
Grow 
What we will do
New Features
- Scope out, propose and (if passed) implement a new GIVbacks distribution system (e.g. GIVbacks lottery) that decreases team overhead
- Develop GIV “buy back” solution that creates a mechanism by which the DAO continuously “buys back” GIV from the market
- Respond to and develop solutions according to new market opportunities that arise
- Plan & strategize how to integrate Gurves w/ QAcc & work being planned w/ Polygon
- Create a system to “claim back” unclaimed GIV from GIVbacks after a determined period of time
- Bring the GIVeconomy to other chains/networks as promised by won grants
- Complete GIVeconomy Analytics Dashboard
- Complete Connext Bridge
- Complete & improve trading bots & arb bots
Token Exposure
- Hire, onboard and train a marketing agency to support with GIV token marketing (Markeing Agency fee in a separate proposal)
- Fix GIV token listing information & logos on major sites and DEXs
- Hire and onboard Market Makers to support on GIV token price action (MM fee in a separate proposal)
- Investigate, create proposals & follow through on approved paths for getting GIV listed on CEXs
- Iterate upon internal GIV marketing strategy creating more regular content for our regular channels
- Run 2 GIV token essentials sessions for the internal community
Maintenance
- Distribute GIVbacks & $nice tokens for each round, and post corresponding comms messaging
- Train & onboard contributors to support with GIVbacks recirculation checks
- Maintain & top-up (when needed) GIVpower rewards program
- Manage support tickets related to GIVeconomy
- Complete GIV token distribution audit to get an accurate sense of how much GIV the DAO controls
- Review & improve GIVeconomy documentation
Core Metrics
- GIV out-perfoms ETH over this 3 month period
- 2x GIV token trading volume
- Add GIVeconomy to 1 major chain
- Get GIV listed on 1 new CEX
- Average 7-day volume on GIV connext bridge: >$50k
- GIV price on Gnosis & Optimism are within 1% of each other
 Breakdown |
Estimated S4 (3 month) Cost |
|---|---|
| Development | $17,300 |
| Design | $3,900 |
| PM | $34,400 |
| Comms | $20,600 |
| Market Maker Fee | $6,000 |
| New response needs | $10,000 |
| Total | $92,200 |
Sustain 
What we will do
New Features
- Scope out, propose and (if passed) implement a new GIVbacks distribution system (e.g. GIVbacks lottery) that decreases team overhead
- Plan & strategize how to integrate Gurves w/ QAcc & work being planned w/ Polygon
- Bring the GIVeconomy to other chains/networks as promised by won grants
- Complete GIVeconomy Analytics Dashboard
- Complete Connext Bridge
- Complete & improve trading bots & arb bots
Token Exposure
- Hire, onboard and train a marketing agency to support with GIV token marketing (Markeing Agency fee in a separate proposal)
- Fix GIV token listing information & logos on major sites and DEXs
- Hire and onboard Market Makers to support on GIV token price action (MM fee in a separate proposal)
- Investigate, create proposals & follow through on approved paths for getting GIV listed on CEXs
- Iterate upon internal GIV marketing strategy creating more regular content for our regular channels
- Run 1 GIV token essentials sessions for the internal community
Maintenance
- Distribute GIVbacks & $nice tokens for each round, and post corresponding comms messaging
- Train & onboard contributors to support with GIVbacks recirculation checks
- Maintain & top-up (when needed) GIVpower rewards program
- Manage support tickets related to GIVeconomy
- Complete GIV token distribution audit to get an accurate sense of how much GIV the DAO controls
- Review & improve GIVeconomy documentation
What we won’t do "
- Develop GIV “buy back” solution that creates a mechanism by which the DAO continuously “buys back” GIV from the market
- Respond to and develop solutions according to new market opportunities that arise
- Create a system to “claim back” unclaimed GIV from GIVbacks after a determined period of time
- Run 1 GIV token essentials sessions for the internal community (we will only run 1, not two)
| Breakdown |
Estimated S4 (3 month) Cost |
|---|---|
| Development | $15,800 |
| Design | $3,900 |
| PM | $32,700 |
| Comms | $17,000 |
| Market Maker Fee | $6,000 |
| Total | $75,400 |
Core Metrics
- GIV performs as well ETH over this 3 month period
- 2x GIV token trading volume
- Add GIVeconomy to 1 major chain
- Average 7-day volume on GIV connext bridge: >$50k
- GIV price on Gnosis & Optimism are within 1% of each other
Shrink 
What we will do
New Features
- Plan & strategize how to integrate Gurves w/ QAcc & work being planned w/ Polygon
- Bring the GIVeconomy to other chains/networks as promised by won grants
- Complete GIVeconomy Analytics Dashboard
- Complete Connext Bridge
- Complete & improve trading bots & arb bots
Token Exposure
- Hire, onboard and train a marketing agency to support with GIV token marketing (Markeing Agency fee in a separate proposal)
- Hire and onboard Market Makers to support on GIV token price action (MM fee in a separate proposal)
- Investigate, create proposals & follow through on approved paths for getting GIV listed on CEXs
- Run 1 GIV token essentials sessions for the internal community
Maintenance
- Distribute GIVbacks & $nice tokens for each round, and post corresponding comms messaging
- Train & onboard contributors to support with GIVbacks recirculation checks
- Maintain & top-up (when needed) GIVpower rewards program
- Manage support tickets related to GIVeconomy
- Complete GIV token distribution audit to get an accurate sense of how much GIV the DAO controls
- Review & improve GIVeconomy documentation
What we won’t do "
- Scope out, propose and (if passed) implement a new GIVbacks distribution system (e.g. GIVbacks lottery) that decreases team overhead
- Develop GIV “buy back” solution that creates a mechanism by which the DAO continuously “buys back” GIV from the market
- Respond to and develop solutions according to new market opportunities that arise
- Create a system to “claim back” unclaimed GIV from GIVbacks after a determined period of time
- Fix GIV token listing information & logos on major sites and DEXs
- Iterate upon internal GIV marketing strategy creating more regular content for our regular channels
- Run GIV token essentials sessions for the internal community
| Breakdown |
Estimated S4 (3 month) Cost |
|---|---|
| Development | $13,800 |
| Design | $1,800 |
| PM | $19,500 |
| Comms | $8,300 |
| Market Maker Fee | $6,000 |
| Total | $49,400 |
Core Metrics
- GIV performs as well ETH over this 3 month period
- 2x GIV token trading volume
- Add GIVeconomy to 1 major chain
- Average 7-day volume on GIV connext bridge: >$50k
- GIV price on Gnosis & Optimism are within 1% of each other
Next Steps, Conclusions & Final Notes
The GIVeconomy WG ramped up a LOT last season, and but I think we need to kick things up EVEN MORE to reach our long term goals as a community. This proposal was designed to rally us towards that end, and I’m excited for the new Season.
This proposal will remain open for advice process for one week (and maybe a few days more) and will move to Snapshot voting with all other WG proposals for final approval from the DAO.
- There’s so many things that got added to your plate that weren’t planned nor did they get finished.