MGP: CLR.FUND -- An open and less-trustful quadratic funding protocol and application

Howdy Molochians! :cowboy_hat_face: tips hat

On behalf of the team of contributors at CLR.FUND, I’d like to request feedback on this Moloch Grant Proposal:

CLR.FUND seeks to create a fund allocation mechanism that embodies the same open and permissionless values of ethereum, while also being resilient to sybil attacks and collusion.

A tag-line that we’ve used is “Protocol-level funding requires a fund allocation protocol”. What we mean by that is that we want to create a viable candidate for protocol level funding (block rewards, transaction taxes, layer 2 fees, burned funds, etc).

If this project is successful, it will be a boon to the Ethereum ecosystem as it will provide a trust-minimized way for the Ethereum ecosystem to allocate funds to the projects that it cares about most.

We are seeking someone to champion the proposal.

Please let us know if you have any questions. I am @auryn_macmillan on Twitter and Telegram, my DMs are open and I am always happy to chat or answer any questions you have about this.

Thanks!

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Who will be using this and how will this solution be distributed? You need to get it in the hands of people that will use it - who are they and how you will achieve this? Otherwise, it’s might just be another solution the community will not immediately need - I suggest finding these folks first before you build.

Also, what are the 5k USD milestones based on?

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Who will be using this and how will this solution be distributed?
You need to get it in the hands of people that will use it - who are they and how you will achieve this?

I’m actually much less concerned with getting it in the hands of users than I am with sourcing matching funds. In my opinion, that is the really key challenge.

The reason I say that is because there is such a strong viral mechanic to quadratic funding; potential grant recipients have a strong financial incentive to promote their project’s campaign to their following in order to maximize their share of the matching funds.

So long as we can secure a reasonable amount of grant funding for the first round (say $10,000+) and identify a number of suitable recipients with good followings, then viral nature of the quadratic funding should be more than enough to get it into users hands.

This is why the second tranche is based on achieving a verifiable commitment of at least $10,000 for the first round.

I’m confident we’ll hit that since we’ve had soft commitments for at least that much already.

Also, what are the 5k USD milestones based on?

We calculated the dev cost of the project at a little over $20k.
The $5k milestones are somewhat arbitrary installments on that $20k, just to give Moloch piece-of-mind that we are making progress.

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Since a few people have asked the question, I just wanted to clarify our position on why we think that clr.fund is a complement to Gitcoin Grants.

This information is also available in the google doc linked in the OP.

Why can’t we just use Gitcoin Grants?

Protocol level funding requires a fund allocation protocol.

Gitcoin is awesome. But Gitcoin are a for-profit company based in the US. They are a single point of failure and beholden to US regulation in a way that a fund allocation protocol is not.

We aim to build something that would be a viable recipient of protocol level funding, because we believe a fund allocation protocol will enable a whole different class of people and entities to participate in quadratic funding, as recipients, contributors, and matchers. This could include the protocol itself (via something like Block Reward Funding), layer-2 protocols, altruistic dapps and DAOs, or contributors who wish to maintain anonymity.

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Also worth noting that we have more than $10k in soft-commitments for contributions to the first round of matching.

Just a heads up, clr.fund received an EF grant for the first few rounds of matching. This satisfies the requirements for Tranch #2 – “Verifiable commitment of $10k+ in matching funds for Round 1” – we’ve ragequit all but one of our shares and plan to make a proposal for tranche #2 for the same number of shares as tranche #1 (35 shares).

See this message in the Moloch Discord server for confirmation: https://discordapp.com/channels/566761527529570356/566761527974035461/735240680011595838