Details
Time/Day: 5PM UTC (12PM ET)(6PM CET) every Thursday
Meet Link: https://meet.google.com/fyt-qcrb-tth
Agenda
- Welcome ALL
- Miscellaneous ENS updates of general interest
- Builder Grants updates
- Octant team join us for updates on 2025 roadmap & collab opportunities
- Open floor for all questions, proposals and other presentations etc.
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1. Welcome all
- Introducing the agenda for the public goods call
- Discussing “GM” and crypto culture… realizing we’re crypto old.
2. Miscellaneous ENS updates of general interest
- A lot of ENS labs and Linea people are IRL doing big discussions around Namechain
- The ENS Event at ETH Denver will be partnering with Linea to bring everyone together to party!
- ENS event date – February 28th
3. Builder Grants updates
- Platform update:
- hoping FAQ will go live soon.
- USDC payments for larger applications/grants: new contract required to implement
- Important for projects needed bigger level of support + accounting reasons
- Going through new applications that are coming through and the quality is getting better
- Exploring automating application reviews
4. Octant team join us for updates on 2025 roadmap & collab opportunities
- Ben intro – head of product at Octant
- First set of tooling is in audit process, going live hopefuly around March 11
- Plans to build out grants tooling and make Octant V1 accessible for other organizations
- GLM Locks go away with V2
- ------------ Octan Presentation Link —-----------
- Thesis: How do we generate Sustainable public goods funding through yield (staked ETH, ENS, tokens)?
- Allow communities such as ENS to use their token to give yield to token holders or anyone else.
Funding and Public Goods
- Generated yield from 100,000 staked ETH for public goods.
- Funded approximately $5 million towards 65 projects in the ecosystem.
- Focus on open-source public goods.
- Goal: build a community-driven vehicle for capital deployment.
- Focus on Ethereum and EVM.
Value Proposition
- Align ecosystem players and foster cooperation.
- Put treasury to work while maintaining control.
- Stabilize token value and enable community-driven funding
Octan Model
- Connect capital accumulation and allocation strategies
- 5% of funding must go into the sustainability pool
- Funds projects beneficial to the Ethereum ecosystem
- Governance involved in determining Ethereum public goods
- Capital Allocators receive voting powere based on commitment to the sustainability pool
- Challenges of onchain governance and impact evaluation were brought up
Centralization and External Influence
- Initial governance structure will be centralized
- Trust in team decision-making to onboard capital and reduce supermajority
- Concerns about external entities like Tron
- Governing council can reject undesirable tokens
- Accepting significant funding from entities with different values
Risk and downside protection
- Risk and Downside Protection
- Downside protection ensures principal is protected until yield is burned.
- Riskier strategies may impact yield but not principal.
- Concerns about inertia in DAO votes due to complexity.
Other notes
- There no existing models currently comparable to the proposed system
- Mention of Ocean Protocol as a past experiment with similar funding strategies
- Current focus on accumulation: individuals with significant financial resources
5. Open floor for all questions, proposals and other presentations etc.
Wrapped up.