GIVmatching MVP - The "Now" Part

The Giveth Platform
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Matching pools! They’re all the rage.

This is an basic MVP proposal for implementing a Matching Pool on giveth.io. This forum post is to get validation on the “Now” part, and link to the discussion for the “Yet-to-be-Determined” part

The Need:

Donors are looking for an easy way to give to Giveth verified projects and get GIVbacks, without needing to peruse the projects and read descriptions. They want to trust that their donation will be used for good, without needing to spend time on the details.

Radical’s Drips & Kevin Seagress’ Regen Coalition both asked for this, and more people are asking.

The Now Part - MVP:

The proposal is to create a project on Giveth.io that is the “Verified Projects Matching Pool” with the following details and requirements:

  • The project will be to collect funds for verified projects… and will be “verified”, so its donors get GIVbacks
  • The recipient address will be a new multisig (with our same signers) that accepts donations on mainnet and xDai - a new multisig whose only purpose is to be the matching pool (for good accounting) that uses donation.eth
  • We set a raise goal (e.g. $200,000) and do nothing with the funds until we hit the raise amount
  • The project description explains that 100% of donations will go to verified projects on Giveth, but the distribution method for the funds is TBD

The Yet-to-be-Determined Part

We need to discuss and determine how we will distribute the funds raised in this pool. There are a lot of considerations and ideas floating around. I will create a separate post to start facilitating this discussion and link it in the comments.

The Conclusion (for now)

What we need for you all is validation on this proposal! Please leave any comments/questions pertaining to the “Now” part in this post.

6 Likes
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Love it, will transfer the ENS as soon as we get the multisig up

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Here is the forum post for ideation on the “Yet-to-be-determined” part: GIVmatching - Idea Generation on how to distribute funds

1 Like
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This is great!

I assume that this would work same as any Verified Project and aacept all supported tokens? Reason being, as funds accumulate before dispersal, we could consider lending them out to collect yield.

Obviously this would be easier if it were just stables (and just one chain) but we can work around this limitation if it makes sense.

Also, we should consider how it fits in the big picture per se regarding loans to fund GIV.

2 Likes
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Love this MVP approach! :purple_heart:

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In favor of this proposal and ready to move forward immediately.

Few things:

  • We want to communicate this to everyone and market this on social media
  • we want to send out an email notification to all project owners about this
  • we want to update our docs with short description of how this works (incl. a blog post)

We do not want to change anything in the UI for now to show the progress on funds raised.

2 Likes
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Definitely!! Thanks Marko. Once we get things sorted here, I’ll make issues for those points in Giveth-planning.

And +1… let’s not change anything in the UI. It can look like just a regular project and if we set an explicity raise goal, we just put it in the project description and the “amount raise” is shown already in the UI.

The only weird part is the token volatility… but I think we can just go with the “USD value donated” as the raise goal, and then when we dsitribute it the new USD value may be a bit different and that’s ok.

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The multisig has been created and I would love to push this through and make the project & set up comms! So let me know… Do you agree with this “Now” part of the proposal?

  • Yes
  • No
  • Abstain

0 voters

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So! The multisig has been created at donation.eth - it has the same signers as our main multisig. donation.eth will be used exclusively for matching funds for verified projects… and we’ll market it as such… so, donations for this address directly (even not using Giveth frontend) should still count towards GIVbacks.

These donations (not on Giveth) will be added to the GIVbacks list manually each round. I’ll include that in the project description.

I plan to call it “donation.eth” to start, so the slug is giveth.io/project/donation.eth
We’re planning to shill and share “donation.eth” all over, so this will be valuable for comms…Then I can update the title and I’m thinking of calling it something more descriptive… would love to know…

What should this project’s name be on Giveth?

  • Verified Projects Matching Pool by Giveth
  • donation.eth
  • Matching Funds for Verified Projects
  • donation.eth - Matching Pool for Verified Projects
  • Something else (comment below)

0 voters

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Donation Fund by Giveth
Mutual Aid Fund by Giveth

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I’m sure there’s a way to track donations to donation.eth and merge it into our GIVbacks calcuation scripts automatically @renjer

1 Like
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I talked to Griff about that, it’s very challenging because they may be coming from a multisig or something like Radical’s Drips… so everything would need manual review anyway. He said he would take on the responsibility… of manually adding them.

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What if it is just ‘Giveth Donation Matching Pool’?
The rest of the details can be fleshed out in the description. We then have leeway to decide which donations will be matched… whether we do verified projects, categories, etc.

2 Likes
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Ok friends - It’s ALIVE :metal:

I will create some comms issues for this and we can call the “now” part resolved!

2 Likes