($1.5M budgeted over a 3.3 month period)
📄 Grants update RFC
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Original grant proposal (OIP-55)
6 tier funding:
- $1-$500 USD
- $500-$5K USD
- $5K-$10K USD
- $10K-$25K USD
- $25K-$50K USD
- $50K + USD
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OGP v1 was an adaptation of Uniswap Grants. The Mycelial Method iterates from this starting point and adapts and combines Lido’s grants program (which is an adaptation of Uniswaps process, which itself is an adaptation of Ethereum Foundation’s process) and the Web3Foundation’s grant program
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🆕 4 Mycelial method:
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Sand (up to $1K)
Sand grain (comes from quarterly individual committee member budget)
Target: Individuals & small teams
Amount: Up to $1000
Requirements: 1 committee approval
Benefits: Feedback during application process and evaluation, introduction to related teams/projects
This category combines all contributions that are nice to have, yet not detrimental, whilst also not being too costly and whose quality can be easily evaluated by a single person.
An improvement is a sand grain if:
- it is something nice to have for Olympus
- it’s no big deal if it doesn’t get delivered at all
- grant won’t cost Olympus more than $1000 USD
- it can be specced and evaluated by a single person in the course of two days in total
An example of a sand grain is a Dune Analytics dashboard that provides a new insight into Ohm wallet holders.
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Pebble (up to $10K)
Pebble (comes from quarterly individual committee member budget or from main OGP funds via 4/7 vote)
Target: Individuals & small teams
Amount: Up to $10,000
Requirements: 2 committee approvals
Benefits: Feedback during application process and evaluation, introduction to related teams/projects, Grants Badge
Pebbles are non-critical, small things that are beneficial for Olympus but not so trivial to call a sand grain.
An improvement is a pebble if:
- it doesn’t fit into a sand grain
- it’s not a big deal if it gets delayed or abandoned to a different contributor
- it won’t cost Olympus more than $10,000 USD
- it’s a few days total across a few persons to spec and evaluate at most
An example of a pebble is a system which would identify OHMies who consistently participate in governance to reward them and give them access to additional systems within Olympus.
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Boulder (up to $100k)
Boulder (can come from either/or a mix of quarterly individual committee member budget or from main OGP funds pool via 4/7 vote)
Target: Small teams/start-ups
Amount: Up to $100,000
Requirements: 4 committee approvals
Benefits: All of the above + co-promotion, Grants Program badge, fast track to Sporos Program, addition to Give platform
Boulders are big, important things that are imperative to be carried out by experts and thoroughly evaluated by core contributors.
An improvement is a boulder if:
- it doesn’t fit into a pebble
- it should be delivered on time and with good quality
- it should be supported by Olympus over a long period of time
- it won’t cost Olympus more than $100,000, excluding audits
- spec and evaluation alone are significant undertakings
- it requires an external audit
An example of a boulder is an implementation of Olympus Pro, or other Olympus utility such as Give on an alternate L2 or L1.
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Mountain (more than 100k)
Mountain (comes from main OGP funds pool via 4/7 vote)
Target: Companies/foundations with a proven track record
Amount: Unlimited
Requirements: Pitch call + 4 committee approvals (for > $100k additionally requires OIP Approval)
Benefits: All of the above + Incubator/Partnerships/OP introductions
Mountains are critical improvements to Olympus that have a significant impact on its growth, security, operations, etc.
An improvement is a mountain if:
- it doesn’t fit into a boulder
- it offers a significant change in growth, security or operations of Olympus
An example of a mountain is the development of a payment system using OHM.
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Mean funding of $8.2K
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Infrastructure
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ℹ️ projects that improve/expand infrastructure of Olympus
Is there a connection to be made between two or more chains, protocols, etc, that no one is quite incentivized to build, but that everyone could benefit from? Grants could be the answer, and OHM will blaze the trail. Anything that Grants funds, should be available for others to integrate with, or adopt and learn from. Open source FTW!
- Examples: Bug bounty, Decentralized Frontends, Cross-chain expansion
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Silent Auth - $8K
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ChainScore - $5K
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DAOstar - $5K
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Gateway - $17K
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Utility
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ℹ️ projects that increase utility of OHM
Will your project make it easier for Ohmies to transact throughout the OHM ecosystem of forks, bridges, and more, making OHM more valuable to Ohmies and all of DeFi? Will you make it easier for new communities or markets to access OHM, aligning with Olympus’ mission of an inclusive economy? Will you make it easier for people to off-ramp from fiat into the circular economies built on OHM? Grants might be for you.
- Examples: Onboarding Initiatives, Staker directed voting, third-party integrations, one-click purchase and staking within mobile wallets
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Entropyfi X - $5K
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MoverDAO - $13K
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Education
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ℹ️ projects that educate about Olympus
We’re still in Day 0 of crypto. Mass adoption is so far away, yet coming ever closer. Education is a major part of what’s needed. Are you writing developer documentation, building YouTube and TikTok guides, playgrounds, hackathons, infographics, ecosystem maps, accessibility initiatives, or translating OHM content and docs into other languages? Have yourself a Grant.
- Examples: Playgrounds, Hackathons, Infographic Contests, Ecosystem Maps, Developer Documentation, Accessibility Initiatives, Enhancement of Olympus brand, market perception
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The Black DAO - $5K
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Grant program partners
ACCELERATOR - $3.5M
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ℹ️
Distribute a maximum of up to $250K in DAO reserved OHM per an incubated project as directed by the program committee from time to time, over the life of an incubation.
📄 Incubator RFC
Mean funding of $2.8M
- Sporos pre-seed:
- The Sporos program will be the entry point for founders who have a great idea but are just starting out - the Sporos program will assist with ideation, mentoring, guidance, and funding to get the project on track
- Provision of funding up to $250K paid out over milestones up to launch.
- Olympus will generally target ~10% of the project’s tokens under a Sporos agreement
- We are especially keen to see applications from Ohmie founders who are solving a pain point for DAOs
- Incubator seed:
- Incubator will continue to onboard high value, high impact projects that have a significant use case or integration for OHM or the econohmy
- Provision of funding up to $250K paid out over milestones up to launch
- Olympus will generally target ~6% of the project’s tokens under an Incubation agreement
- Launch Partners - pre-launch:
- We will continue to partner with projects that are too mature for Sporos or Incubator but will significantly benefit from advice and assistance from Olympus as they head to the launch of the protocol. These are projects with inspiring founders and teams that want to join and align with the econohmy
- Provision of funding up to $150K paid out over milestones up to launch
- Olympus will generally target ~3.3% of the project’s tokens under a Launch Partner agreement
The flow for projects starting at Sporos stage will flow to Incubator support and then Launch Partner support as they mature.
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Partner projects
- Vesta Finance - $10M
- JonesDAO - $2M
- FiatDAO - $1.7M
(DAO swapped for ~$346K of OHM now worth $224K)
- PrimeDAO - $130K
(DAO swapped for $154K of OHM now worth $14K)
- PhantomDAO - $50K
Share value of $14M on March 1st 2022
LIQUIDITY SERVICES - $73M
Mean bond of $3.8M
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Bond Market
Total Bonded Value (Approx.) ↓
- Alchemix - $12M
- ShapeShift - $7M
- Frax - $5M
- Synapse - $3M
- THORSwap - $3M
- Inverse - $2M
- Sandclock - $1M
- Bankless DAO - $1M
- BarnBridge - $918K
- Thorstarter - $678K
- Everipedia - $573K
- KeeperDAO - $501K
- Mute.io - $454K
- Float - $377K
- Gelato Network - $367K
- Gamma Strategies - $359K
- Instrumental Finance - $238K
- mStable - $236K
- Botto - $187K