Tally Ho Plans First Gitcoin Aqueduct to Automate Public Goods Funding & Ecosystem Building
50% of the total allocation will go to supporting public goods, and 50% will go to build the Tally Ho ecosystem.
This post first appeared on Gitcoin's Blog on Feb 18. You can find the original version here.
- Tally Ho will create a DAO proposal to commit 2.5% of the total token supply to a Gitcoin Aqueduct, splitting the allocation evenly between funding general public goods and building the Tally Ho ecosystem
- Announced by Gitcoin just last month, Aqueduct enables projects like Tally Ho to automate public goods funding & ecosystem building with a single line of code
Aqueduct allows projects to plug into Gitcoin Grants and its community of over 200,000 builders
During each quarterly grants round, funds are raised from the community and matched using quadratic funding. This allows projects to distribute funding to promising projects and builders with minimal effort in a credibly neutral way.
Implementation requires minimal effort
Aqueduct incentivizes ecosystem development with a single line of Solidity code, unbundling the work of protocol creation from the work of ecosystem support. For projects of sufficient size, Gitcoin will handle grant operations as well. For more information on running ecosystem grants rounds, see this case study.
Ecosystems of any stage can use Aqueduct
While Tally Ho is committing 2.5% of its treasury for public goods & ecosystem building before creating its token, Aqueduct can just as easily be implemented in later-stage projects, usually through a governance proposal.
With Aqueduct, Tally Ho will achieve two strategic priorities:
1. Support the builder community
Aqueduct translates Tally Ho's builder-first ethos into action. By delivering long-term financial benefits to builders, Tally Ho can also earn a community-first reputation.
2. Build a strong, sustainable ecosystem
Aqueduct allows Tally Ho to tap into a thriving community of talented developers to build its free, open-source, and community-owned wallet.
“Gitcoin has been a stalwart of the Ethereum ecosystem for years and played a key role in inspiring and empowering projects & builders to support digital public goods. With Aqueduct, they’re continuing to push the envelope by creating new funding methods. Building web3 as a community is very important to our values and mission, so it’s a natural fit to build public goods funding into our operating system from our token’s inception.”
– Matt Luongo, Thesis CEO
Tally Ho will propose that 50% of the total allocation goes to supporting public goods via the Gitcoin Grants main pool, and 50% to dedicated grant rounds to build the Tally Ho ecosystem. If the DAO approves the vote, the funds will be distributed via Gitcoin Grants starting with Grants Round 14 in June 2022.
“We’re excited to see Tally Ho's leadership make public goods funding a top priority from their DAO’s inception. We’re always looking for ways to make it easier for projects of all stages to operationalize ecosystem building and public goods funding and are seeing strong interest from projects to use Aqueduct to facilitate this.”
– Kevin Owocki, Gitcoin co-founder
How to get started with Aqueduct
If you’re interested in using Aqueduct to fund grants rounds and support public goods for your project, send Gitcoin a message at email@example.com.