Project Name: GiveStation
Author Name: 0xmikki
Number of OP tokens requested: 60k
L2 Recipient Address: 0x79e674ABebD4c1E3aC13f6959Ea0e2B076411e30
Grant category: DeFi
Is this proposal applicable to a specific committee? Yes,
Project Overview (Please explain how your project works):
GiveStation is a multi-chain give-to-earn grant protocol that rewards users for funding projects, ideas and public goods in web3. GiveStation is decentralized which means anyone can create a grant anytime and get grants approved by a consensus vote from the donors.
After the funding is completed. There will be no disbursement of funds if the grant does not get at least 50% approval vote from its donors.
How it works:
The creators/team creates a project,
They hit their target from contributions.
They make funds withdrawal request.
Funds get sent to their provided wallet after at least 50% of donors have approved the withdrawal request.
Furthermore, our medium article here explains how we take care of KYC and Compliance to prevent rogue grants creators/team from listing projects for the aim of defrauding the system.
We are currently on the Gitcoin grants round and the little we have raised so far along with our personal team funds has helped us build the project to the stage it is today and we plan and hope to raise more to introduce more features soon.
The goal is to incentivize the Optimism Ecosystem by integrating OP rewards for users who contributes to projects while every other blockchain on the DApp has GivePOINTS token as rewards. OP is exclusively for projects listed under the Optimism blockchain.
Github: GiveStation Github
Discord/Discourse/Community: Givestation Discord
Additional team member info (please link):
Cheng: (Tech lead)
0xmikki :(co founder, Product lead)
Cryptojude: (co founder, community)
Please link to any previous projects the team has meaningfully contributed to:
The team has previously worked on a p2p crypto exchange called Hovii.app
Relevant usage metrics : The Givestation hasn’t registered any TVL as of this writing because we are about launching on testnet.
Is/will this project be open sourced? Yes
Optimism native?: No
Date of deployment/expected deployment on Optimism: The DApp is currently on Optimism Goerli testnet with mainnet imminent at the time of this writing and contributors will get GivePOINTS token as reward.
The OP tokens will be integrated as rewards as soon our grant proposal is accepted by the Optimism team.
Ecosystem Value Proposition:
What is the problem statement this proposal hopes to solve for the Optimism ecosystem?
User incentivization - We believe ideas can get funding from VCs and all but user acquistion is whole different journey and while other dapps are focusing on exchange, defi, swap, etc Givestation is creating a platform where public goods can get funding with no middle man while rewarding the users which are the pillars and real reason these ideas come to live.
On the other hand, building a project can take a lot of time and the idea may end up on the shelf not because its not good enough, but funding in the industry seem to be tilting towards a certain part and that’s why we are creating a p2p grant ecosystem where donors meets creators, create an impact by donating and also be in charge of how/when funds are released.
With this solution, we expect to see a major increase in number of developers and builders coming to build very good projects on Optimism while contributors who will later turn to users will also stay to support as there is now an instant reward for them.
Has your project previously applied for an OP grant? No
Did the project apply for or receive OP tokens through the Foundation Partner Fund?: No
How will the OP tokens be distributed?
There are creators who create new grants under Optimism blockchain, 98% of the OP tokens will be distributed to those who choose to contribute to these projects and the remaining 2% will be used to incentivize weekly activities like competitions and tasks where the users who partake in it will get OP as rewards.
Over what period of time will the tokens be distributed?
12 - 24 months