Project Title:
Coordination and Capital Resources Collaboration
Description:
Maybe Moloch DAO already completed everything they set out to do. Maybe Moloch DAO is just as necessary to the Ethereum ecosystem today, as it was when it was summoned. Either way, Moloch DAO could use some help in sharing coordination costs.
MetaCartel has the coordination resources required to give out grants for years to come. MetaCartel is slaying Moloch with community.
By sharing in coordination and capital resources, MolochDAO and MetaCartel can better support the Ethereum ecosystem with more frequent and effective grants.
Manifesto/Vision:
MetaCartel Community First Manifesto
Problem:
When it comes to giving out grants as a DAO, MetaCartel has the coordination resources and Moloch DAO has the capital resources. Although, these resources are not supporting each other. If they were, both DAOs would have support to be their most successful at impacting the sustainability and evolution of the Ethereum ecosystem.
The current structure for MetaCartel DAO is such that any incoming capital only arrives via new memberships. This limits ETH in the treasury to only one action, in one way, at any time. It’s either being added to the treasury, as member staking, or subtracted, as grant giving.
Solution:
MetaCartel Treasury Sustainability initiative is actively utilizing DeFi tools to give some ETH multiple actions at any time. Managed correctly, this initiative has the potential to feed MetaCartel DAO’s main treasury a reliable supply of funding that the DAO can then give out as grants.
If Moloch DAO gives a grant to the MetaCartel Treasury Sustainability initiative, the initiative can jump start the growth of this funding. This will allow Moloch DAO and MetaCartel to share in coordination and capital resources in a joint effort to fund Ethereum projects.
Product Features
All aspects of the Treasury Sustainability Initiative for MetaCartel are focused on empowering and supporting the MetaCartel DAO and its community to give grants, continuously and for an extensive period of time, to the Ethereum ecosystem.
Validation
We love MetaCartel and can’t thank them enough! Without the money and network, it wouldn’t have happened. Overlay
All our users are attributed to the MetaCartel grant, because we were able to launch. We gained connections to other groups working in the public goods space, which led to a partnership. TREE by Whaler
Meeting people in MetaCartel gave us connections in multiple aspects. Snapshot
It’s been very meaningful. The MetaCartel grant felt validating. We met great people and DAOs and were able to turn down VCs. Contribute
The MetaCartel grant helped us to get 10x more money moving through the app, with 250% more DAOs summoned and 300% more individuals using it. DAOhaus
“With MetaCartel’s grant, we were able to incentivize and help developers from Nigeria get into the ecosystem.” web3bridge
The MetaCartel grant was good signaling, especially at that time when centralized projects were trying to take over. Moloch Mystics
The MetaCartel grant let us quit our full time jobs to join web3. Sablier
The MetaCartel grant served first as validation. Second was the connections with people, including context on DAOs. Llama
Progress
2.55719 ETH is deployed onto Hop Exchange. This initiative began with 2.55 ETH on July 6, 2022. The current yield is 10.71%. Yields were much lower at the start. As of August 9, 2022, the initiative has earned 0.00719 ETH ~ $12, with an approximate effective annualized yield of 3.3%.
Differentiation (from other projects)
There’s no other community like MetaCartel. A grant from the MetaCartel DAO is a signal to the entire Ethereum ecosystem that a project has access to, and approval from, the wisdom of an exceptional collection of experienced Web3 collaborators.
MetaCartel not only funds impactful Web3 projects that help us slay Moloch, they also steward the teams responsible for these projects.
If you want to go fast, go alone. If you want to go far, go together.
Team
Coordinator: Yalor, MetaCartel
DeFi Strategy and Management: Iceman and Lindsey, Hedgy Finance
Scribe: BorrowLucid, ReallyBoringGuild
Disclaimer: Iceman, Lindsey and BorrowLucid are sweating for MetaCartel shares.
Grant Request
As much as MolochDAO is willing to part with
What the Funds Are For
All funds will go directly into the Gnosis safe that fuels the MetaCartel Treasury Sustainability initiative. As progress is made on the DeFi strategy, funds will be fed into the MetaCartel DAO main treasury, which funds grants and supports ragequit. The initial capital will remain in the DeFi strategy, so that a sustainable supply of funds for grants is maintained.
Help Requested
Give MetaCartel coordination costs and capital resources from MolochDAO.
Additional Resources, Links, Portfolio:
