It is proposed that Alchemix become a Gitcoin Grants Matching Partner by contributing a sum of $50,000 in ALCX tokens as part of Grants Round #13. Grants Round #13 runs from 9 - 24 March, 2022.
Funding shall be drawn from the pool of ALCX earned by Alchemix as part of its Protocol-Owned Liquidity initiatives (Sushi ALCX/ETH SLP + Votium vlCVX incentives).
Motivation
The impact of funding public goods has ripple effects that help the ecosystem as a whole. Alchemix, along with countless other Ethereum projects benefit greatly from blockchain public infrastructure. We are grateful for those who came before us and to those building alongside us, and as such, want to pass this good will on to current and future builders in the Ethereum and Web3 space.
In addition to supporting the main ecosystem pool for public goods, ALCX will also go towards the Support for Ukraine round, and the Longevity/Anti-Aging round.
Benefits
Support the Ethereum ecosystem by rewarding the development of additional public goods that may come to benefit Alchemix and/or its users/token holders in future.
Promote Alchemix via Gitcoin Grants and provide a potential entry point for future Alchemix builders and contributors.
Build a relationship with Gitcoin Grants, which may form the basis of future collaborations.
Impact
While the Alchemix DAO Treasury holds over 200k ALCX, the funding for this proposal will come from the Alchemix Operations Multisig. It currently holds 1623 ALCX, which it has earned from the Sushi LP and vlCVX voting rewards. This is approximately $189k in value currently. A $50k donation in ALCX would amount to ~ 430 ALCX at current price ~$116/ALCX. This won’t impact Alchemix’s operations as the majority of its operational funding is paid via stablecoins.
About Gitcoin
Gitcoin Grants launched in 2017 and states that it has helped 65,573 funders reach an audience of 289,207 earners. Gitcoin has facilitated 1,699,754 complete transactions to 10,029 unique earners.
From the Gitcoin Grants About page:
Our mission is to build and fund digital public goods
We empower communities of builders to connect and work together to create the future of the open web.