[GITCOIN] [RE-POST] Ratify Grants Lab Contributor Token Grant Program
ID 468551...2072
ID 468551...2072
Proposed on: Sep 17th, 2024
Proposed on: Sep 17th, 2024
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Actions
Function 1:
Proposal
Proposal
[RE-POST] Ratify Grants Lab Contributor Token Grant Program
Original passed Snapshot did not reach Quorum and consectutive post had affected stewards voting to obstain, thereby skewing final outcome.
TL;DR: Propose that current contributors to Grants Lab be eligible for a 4-year token grant, subject to a linear vesting schedule and a 1-year cliff. Contributors who have been at Gitcoin for over a year and have not previously received a token grant will be eligible for an accelerated 6-month cliff, instead of 1 year.
Overview With the introduction of Gitcoin 2.0, we have renewed focus as an organization and have set ambitious goals! We are driving towards $50M in GMV this year and a north star of $1B in GMV through Allo over the next several years.
To hit these goals, we need best-in-class contributor talent that is motivated and aligned with our mission and ambition.
Token grants are a key tool we have to create those alignments. After all – the idea that we can program our values into money to ensure alignment is central to our vision for capital allocation 4.
Structure I propose that every contributor to Grants Lab is eligible for a 4-year token grant. These grants will be subject to linear vesting schedules and a 1-year cliff. Contributors who have been at Gitcoin for over a year and have not previously received a token grant will be eligible for an accelerated 6-month cliff, instead of 1 year.
This proposal covers all current contributors to Grants Labs as well as an option pool for future contributors. In total, 3M GTC is requested. This represents 3% of the supply of GTC and is aligned with (or below) industry standards for team allocations. Though team allocations are typically only done at launch, Gitcoin has evolved substantially since the token launch in 2021. Most of the team that was present in 2021 are no longer active contributors, and the vast majority (80%) of current contributors do not have any token grants.