S4 - Ep. 16 Giveth & Q/Acc with Griff Green​

S4 - Ep. 16 Giveth & Q/Acc with Griff Green​

April 26, 2024

Check the full episode on Youtube:

SUMMARY

Giveth and Griff Green are focused on using crypto and mechanism designs to create a positive impact and provide funding and support for projects in the crypto space.

• 00:00 🌱 Griff Green discusses using crypto for positive digital systems, introduces qak mechanism for donating to public goods projects, partners with Polygon, and has a plan to fix something big.

  • Griff Green discusses the importance of using crypto for positive digital systems and the ways in which capital allocation can be maximized for impact and ecosystem growth.

  • Griff Green and the Giveth Galaxy are releasing a new mechanism called qak, an augmented bonding curve for donating to public goods projects.

  • Giveth is partnering with Polygon to help with their Village and has a plan to fix something big.

• 02:46 🌐 Build on your protocol, add value, and hop from L2 to L2 for short-term and long-term benefits in the web3 grants ecosystem, as most projects are focused on launching their own token or building something cross-chain, but teams giving out grants in their own token creates a problem for community involvement and incentives.

  • The web3 grants ecosystem is currently facing significant challenges and is not clean.

  • Build on your protocol, add value, and hop from L2 to L2 for short-term and long-term benefits, as most projects are focused on launching their own token or building something cross-chain.

  • Teams giving out grants in their own token creates a problem for the community involvement and the incentives are not aligned anymore in the current crypto ecosystem.

  • The speaker discusses the comparison of grant giving ecosystems and the functionality and feature set of giveth, highlighting their strong mechanism design and the stacking of mechanisms to build the ultimate grant giving power tool.

  • Giveth has simplified the donation process by removing smart contracts and allowing peer-to-peer donations, while also providing givebacks in the form of give tokens to donors.

• 08:13 📈 Giveth introduces Give Power system for staking tokens and partnering with Polygon for QF evolution, including qak and bonding curves for public goods projects.

  • The speaker discusses the Give Power system, which is modeled after the ve curve ecosystem, allowing users to lock ecosystem tokens for a period of time to gain more voting power, but with a less stringent locking period of one year.

  • Staking give tokens on Giveth gives you voting power to boost projects and receive more give tokens back when donating, with a maximum of 80% give tokens back in a two-week period.

  • The big news is that they are teaming up with Polygon to experiment with the next evolution of QF.

  • The speaker introduces qak, a simplified version of quadratic funding using tokens to provide a Launchpad for projects to address alignment issues within the ecosystem by receiving grants and launching their own tokens with guaranteed liquidity.

  • Bonding curves on Giveth are like the front-end experience for public goods, similar to buying into someone's DMS, but for projects sponsored by an ecosystem committed to the polygon ecosystem.

• 13:10 📝 Zkm and Giveth collaborate on Polygon ZK VM with augmented bonding curve, FR Tech PL overlooks Common Stack's trusted seed group research, bonding curves address token engineering Commons issues, qak mechanism realigns web3 ecosystems, TC raises $300,000 from buy and sell tributes, bonding curves, quadratic funding, and give backs integrated for ecosystem projects, Matic used in Polygon Village's Grant ecosystem, bonding curves useful for bootstrapping but not for entire economy life cycle.

  • Zkm and Giveth are collaborating to build on the Polygon ZK VM with an augmented bonding curve, and the speaker is surprised that FR Tech PL did not consider the research from Common Stack about starting with a trusted seed group to initialize the economy.

  • In 2021, bonding curves were used to address issues with the token engineering Commons, and the qak mechanism realigns web3 ecosystems with small teams and the community by allowing small projects to launch their own token economy without needing venture capital investment.

  • The speaker discusses how the TC raised $300,000 from buy and sell tributes, which provides an opportunity for small teams in web 3 to gather market feedback using qf.

  • The speaker discusses the integration of give backs, quadratic funding, and bonding curves to fund ecosystem projects, starting with the use of Matic in Polygon Village's Grant ecosystem.

  • Bonding curves are useful for bootstrapping but not for the entire life cycle of an economy due to liquidity and price discovery issues.

• 18:58 📈 The bonding curve economy ensures liquidity and collateral, Qak rounds incentivize community engagement and project support, and revenue is generated from minting tokens in the polygon ecosystem.

  • Panala tokens are now worthless, but the bonding curve economy ensures liquidity and collateral under the curve, with tokens locked up until the qak round.

  • Tokens are used as incentives for key people to join a community and engage with the team, with the initial tokens being cheap and later participants needing tokens to access the chat room.

  • The speaker discusses the implementation of Qak rounds, where donations to projects will go into a bonding curve to mint tokens, addressing issues with bonding curves and creating a normal decentralized exchange.

  • The bonding curve is not the best place for the average person to get tokens, as the public facing decentralized exchanges are where market discovery is best done, and this will happen for multiple projects in the web three grants ecosystem.

  • Competition is important for the best projects to succeed, and the Q/Acc mechanism aligns the ecosystem and community with the success of the project, providing support and revenue for the team.

  • The ecosystem generates revenue from minting tokens in the bonding curve, which is locked in a bonding curve and issued based on that curve, with applications now open for builders to use this system in the polygon ecosystem.

• 25:10 📈 Token utility is essential for a thriving bonding curve, with the need to explain new mechanisms and the potential for profitable endeavors in the public goods space.

  • The speaker discusses the importance of spreading the word about a new mechanism, which may be confusing to many, and the need to explain it to people in order to get them on board.

  • Token utility is essential for a bonding curve to thrive, and it should only be launched if there is a genuine need for the token within a larger ecosystem, with a commitment to the polygon ecosystem for at least two years.

  • Swarm and DX are turning off their bonding curves, and Qak is creating a mechanism for teams to turn off their bonding curve and receive the money in it, allowing for a successful economy without the need for large investments.

  • The URL for the Typeform for Giveth and Q/Acc is in the tweet thread, and there are memes to enjoy.

  • We are excited to be working on qak, an experimental project with ecosystem partners, and we anticipate learning a lot in the first season.

  • The speaker discusses the integration of giveth's mechanisms into the public goods space and the potential for crypto economics to create profitable endeavors and attract innovation.

• 33:12 📝 Giveth and Getcoin are collaborating to integrate Alo protocol, while the Inverter Network is perfecting bonding curves for smart contracts and implementing recurring donations for the web 3 space.

  • Retr, Pgf, Qf, and qak bonding curves have a role to play in the evolution of providing public services in a free market, and the speaker is excited to see how the first experiment goes.

  • Getcoin is looking to learn from Giveth and integrate Alo protocol, as they have been inspired by Giveth's work and see potential in building parallel grant economies together.

  • The speaker discusses the integration of cluster mapping into the arbitrum ecosystem and the potential for making these mechanisms available for anyone to build into their D apps.

  • The Inverter Network team, who have worked with the Common Stack, are busy perfecting bonding curves for smart contracts.

  • Web 3 composability allows for seamless integration of Alo protocol with superfluid on gith, enabling automatic donations during qf rounds.

  • Project addresses and owner addresses are being integrated into grants, with a focus on building a movement together and implementing recurring donations for the web 3 space.

• 39:57 📈 Pairwise and quadratic funding are being used to rank and reward projects in retro pgf, while the speaker promotes the Green Pill Network podcast.

  • The speaker discusses the potential of retro pgf and optimism's token economic system in aligning incentives and democratizing access to funding mechanisms.

  • Pairwise is an interface for retro and the goal is to make voting fun by gamifying the collective decision-making process with background music and sound effects.

  • Ranking projects in a category using a Tinder-like interface, eventually swiping left or right, narrowing the field, picking the best, adding points, receiving a reward, and giving feedback on ranked projects.

  • Quadratic funding allows for project discovery and community signaling to rank projects for retro pgf.

  • Pairwise optimism is being used to distribute rewards to ecosystems, and the speaker expresses appreciation for the work being done in the space.

  • The speaker discusses the power of augmented bonding curves and compares giveth and get coin strategies for building public goods, while also promoting the Green Pill Network podcast and encouraging listeners to subscribe, rate, review, and share the episode.

INSIGHTS

Token Engineering and Mechanism Design

• 🔄 Griff Green is at the intersection of interesting mechanism designs through token engineering Commons and gith, the Cod funding platform that he is the founder of.

• 💰 Giveth has strong mechanism designers and utilizes quadratic funding, give backs, and give power to build the ultimate Grant giving power tool.

• 🚀 The give power boost on Giveth allows donors to allocate liquidity mining rewards and boost projects, potentially increasing visibility and givebacks for donors.

• 🔄 Projects will use grants from the ecosystem to launch their own tokens with guaranteed liquidity via augmented bonding curve, aiming to simplify the process and provide more transparency.

• 🚀 Instead of giving small projects a grant, they can be given a revenue stream built into the token economy, providing funding every time people buy and sell a token.

• 📈 The mechanism of using qf as a way to gather market feedback and understand if projects are doing well relative to others is a valuable tool for small teams in web 3.

• 🧠 The only way to integrate the system with superfluid was to use Grub, which has now been integrated into gith for seamless streaming.

Impact-Driven Crypto Ecosystem Development

• 💰 Griff Green is focused on using crypto to bring positive sum digital systems to the world, emphasizing the importance of achieving impact equals profit ecosystem growth and public goods.

• 🔬 The big news is the collaboration with Polygon to experiment with the next evolution of qf, showcasing a commitment to continuous innovation and growth.

• 🚀 The vision of Qak is to create a commitment to one ecosystem and stack powerful game theoretic incentive alignments to accelerate up and coming teams in the space.

• 🌍 Crypto economics has the potential to build something better than governments, upgrading the broken system with mechanisms like QAK.

• 🌱 Giveth and Q/Acc are exploring new mechanisms for providing public services in a free market evolution.

• 🌐 The integration of technology and the social and economic layers is the model for DAO to DAO partnerships.