TL;DR
I am asking to discuss using Hedgey’s token grant platform to distribute grants. I propose that doing so will create better transparency into active grants, streamline grant distribution and management for the DAO, and create an incredible experience for grant recipients.
Background on Hedgey
Hedgey creates onchain token streaming products and over the last two years has worked with Gitcoin, Shapeshift, Celo, Index Coop, BanklessDAO and other great DAOs to create vesting, lockups, and grants solution through our free, public goods solutions. We have over 6000 live streams/lockups and are audited by Consensys Diligence.
Hedgey on Optimism
We’ve been building public goods token infrastructure on Optimism for over a year. We first began building our grants solution because of OPs unique time-lock requirement on certain grants and the natural fit with our time-lock/streaming token infrastructure and dashboard solutions.
How using Hedgey will benefit the token grants program at Optimism
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Hedgey is an onchain time-lock/stream solution that allows grant issuers to set up one or multiple grants in a single transaction with customizable time lock / stream parameters.
Grants can be set as revocable or non-revocable, transferable or non-transferable, and can stream over time or be completely time-locked until a specific date. Both the issuers and recipients have feature-complete platforms to track and manage grants. -
Specific to Optimism’s time-lock requirement for Builder grants, Hedgey will give the DAO a simple way to distribute grants that are programmatically locked for 12 months. For experimental grants, Hedgey will allow for new opportunities to better control how funds are released via streaming (every second) or periodic (weekly, monthly), allowing the DAO to introduce milestone based funding requirements and increased accountability for grant recipients while reducing the overhead in managing both types of grants.
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Hedgey’s public dashboard feature will allow Optimism to create and share public dashboards where the entire grant program can be shared with the broader DAO.
Additional reasons to use Hedgey Grants as a long term solution
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Hedgey allows grant issuers to (optionally) add onchain governance rights to locked/vesting token grants. Should Optimism want grant recipients to participate in governance with their grants, they will be able to allow it.
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Hedgey is a completely free public good. There will never be fees to use Hedgey Grants.
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Hedgey Grants can be set as transferable, non-transferable, and transferable-by-admin only. This is a small but significant configuration in how grant recipients are able to interact with their grants in relation to the 12 month time-lock restriction for some grants.
Total Cost
Hedgey is a 100% free public good. There are no fees and there is no fee switch.
Security
Hedgey is audited by Consensys Diligence . We are trusted by incredible orgs like Gitcoin, Celo, IndexCoop, Shapeshift and 50+ other DAOs with over 6000 streams/lockups.
Closing thought:
This post is mostly to start a discussion around grants on Optimism and explore ways our infrastructure can be useful to the DAO. We are not asking for a grant or fees for this initiative (I joined the grants call this morning and confirm that grants would not be the right approach) and want to focus on building an incredible experience for the issuers and recipients in Optimisms grants program. We’ve been supporting some of the best DAOs over the past two years and would love to take feedback, explore ideas, and see if there is value in having Hedgey support Optimism grants.
