What are you building?:
I will keep this cycle’s proposal as brief as I can as there are many questions to answer and the previous proposal gives a lot of detail into what we are building. The TL;DR is that Giveth has an incentivized web3 donation platform on Mainnet and Gnosis Chain and we would like to bring the entire application to Optimism. We will reward donations on Optimism to verified projects and we will launch an incentivized staking and locking system called GIVpower. Both of these systems will be rewarded in GIV, streamed over time on Optimism, which will bring users back to the Optimism chain again and again to claim their rewards until the GIVstream ends on December 23rd, 2026.
Why do you believe what you are building is going to succeed?:
We have been around since 2016 and aren’t going anywhere. Our current version of the donation application rewards donors in a similar way as tax deductions, but without the borders or bureaucracy. Donors are rewarded when they donate to any verified project anywhere in the world. They aren’t rewarded with paperwork though, they are rewarded with $GIV. This is a web3 improvement on the subsidy model for nonprofits that has been used around the world with great success.
$GIV’s token model is very similar to veCRV, except the locked tokens determine the donation mining rewards instead of liquidity mining rewards.
Regen instead of Degen.
But our mission is much larger than the current state of the GIVeconomy. Our goal is to enable nonprofits to create their own economies that can reward them for their work.
We believe nonprofits create value, and that economies can be created around that value. If this theory is true, we will succeed, as we are further along this path than anyone else.
Our very close partner, Commons Stack, helped deploy a nonprofit microeconomy called the Token Engineering Commons, which has only donated to projects supporting the Token Engineering space. It has had no other token utility other than governance over it’s small pot of funds and yet their token price has actually beat the price of ether!
When the TEC was launched in 2021, ether was $3300 and TEC was $1. As of time of writing, nearly 2 years later, ether is down ~50% and TEC is only down ~30%. This is very encouraging. Commons Stack has learned a lot from the TEC and has improved the design pattern and is now partnering with ReFi DAO to continue this applied research by deploying many more of these microeconomics. This research will end up being used to build a path for projects on Giveth to follow so they can also launch their own microeconomies.