CGP 2.0 - Delegated Domain Allocation by Questbook

harsha · November 21, 2022, 7:52am

Update on the voting dates and the SAFE.

The proposal will be put up for voting on November 28th, which then goes through the voting cycle.The proposal link will be shared here once it is live. The dates of posting have been pushed keeping the Thanksgiving holidays in mind to ensure maximum voter turnout on the proposal.
CGP 2.0 Grants SAFE (eth:0x8524B12CB7710C75B53bAa9ca72B420542d24C13) has been set up and the domain allocators : @allthecolors , @cylon , @Bobbay_StableNode , @madhavanmalolan , have been added as the multisigs. The allocators will also be commenting on this post from their profiles, to prove their ownership.

madhavanmalolan · November 21, 2022, 7:58am

Thanks @harsha I’m hereby confirming my ownership over the address : 0xa2dDFc8a6C1F8868B80F2747D04532a6cDE9804d

Here’s my signature

{
  "address": "0xa2ddfc8a6c1f8868b80f2747d04532a6cde9804d",
  "msg": "0x6d6164686176616e6d616c6f6c616e20666f7220636770322e30",
  "sig": "491e61c56e6e5a22932fec4cc6b75e1aac12baa184ff653221c53e3dab843ad5053d8a78a38e153555069b50bd7f0b906c998cd3077a1fdb894849495ed5838c1c",
  "version": "3",
  "signer": "MEW"
}

allthecolors · November 21, 2022, 3:13pm

Confirming that I control the key for the address 0x66cd62c6f8a4bb0cd8720488bcbd1a6221b765f9, to which allthecolors.eth maps.
{
“address”: “0x66cd62c6f8a4bb0cd8720488bcbd1a6221b765f9”,
“msg”: “0x4920616d2040616c6c746865636f6c6f7273206f6e2074686520436f6d706f756e6420666f72756d2c2070656e64696e6720646f6d61696e20616c6c6f6361746f7220666f722043475020322e302c20616e6420492068657265627920636f6e6669726d2074686174204920636f6e74726f6c207468652070726976617465206b657920666f722074686520657468657265756d206164647265737320307836366344363263364638413442423043643837323034383842434264314136323231423736354639”,
“sig”: “dab707c3d1b251f818178660c1804874a695dbad0dcb42f1eface38e07387ff0285c9a6327e01d51d1c2d85421e1824640ddb3c2a94747d68754613c1f2370591c”,
“version”: “3”,
“signer”: “MEW”
}

cylon · November 21, 2022, 4:09pm

Confirming my ownership of 0x98fdE0e52fd38eeE6D319B3E45bcaFF48237384c as a signer.

{
  "address": "0x98fde0e52fd38eee6d319b3e45bcaff48237384c",
  "msg": "0x4d69636861656c204c6577656c6c656e20666f722043475020322e30204d756c74692d7369672061743a20307838353234423132434237373130433735423533624161396361373242343230353432643234433133",
  "sig": "84d11fff060e93ba720025c649efba06193f10111a223764040bba8709fd3b383386711545ac07c57c64c05f57a7df94b6e3cf7ff835ead6095567ee773dae6a1c",
  "version": "3",
  "signer": "MEW"
}

Bobbay_StableNode · November 22, 2022, 4:32pm

I control the key for stablelab.eth, which is 0xea172676E4105e92Cc52DBf45fD93b274eC96676.

{
“address”: “0xea172676e4105e92cc52dbf45fd93b274ec96676”,
“msg”: “0x4920636f6d6669726d204920636f6e74726f6c20746865206b657920666f7220737461626c656c61622e6574682c20776869636820697320307865613137323637364534313035653932436335324442663435664439336232373465433936363736”,
“sig”: “30b35ebeb92e1ae21ed7a266ecfdb04ee4cca0db79a89ba9ebda4f112c0729e914deb565252bfad1058b07d1c886a736eeb87b08d03638ebbc0fa9273a7992f000”,
“version”: “3”,
“signer”: “MEW”
}

VonNeumann2022 · November 24, 2022, 7:43pm

Here are my questions:

Which entity on the DAO side will be signing the contract (via the contract template that was proposed)? Unless there is a legal entity representing the grantors, I don’t see how this would work.
How will Questbook’s compensation be working now (seems to be pro bono initially) and going forward?
Does the need for a grants program to be more decentralized justify this significantly higher cost? My initial thought is that it does not and that there are efficiencies gained from the standard centralized grants committee model that might be lost here (e.g., having a single committee review multiple grant proposals might garner better conversation and review).
I think the tooling that Questbook offers is helpful, but couldn’t the same tooling be provided to a more centralized grants committee?
What is the KYC for potential grant recipients meant to accomplish?

harsha · November 27, 2022, 4:09pm

Thank you for the questions, please find the responses below

1 - Questbook International Inc will sign this contract on the grantor’s behalf. Yes, you’re right it’s a legal entity.

2 - We’re providing the Questbook tool for free for CGP 2.0. We’re only charging for managing the program.

3 - The focus is on running this grants program in a decentralized manner.

Robert on one of the calls mentioned: " At compound, we spend a lot of starting to push the community forward and developing the core protocol itself. A whole decentralized team of developers should be making improvements to the core compound protocol and adding new functionality".

Ref: Welcome & Intro to DeFi Grants - YouTube

Apart from the problems this proposal aims to solve by running the grants program in a decentralized manner, having multiple allocators to run the individual grant programs can also help attract builders through their networks and allows faster decision-making.

4 - Yes, a centralized grants committee can also use Questbook as a tool to disburse grants. Polygon for example, has a more centralized grants committee - uses Questbook to run its entire grants program.

5 - KYC is performed to understand to whom the payouts are being made, in order to be compliant.

harsha · November 27, 2022, 4:16pm

Confirming that I control the key for 0x3bf8b0acc8db7a8958d7f0ca0ead9e5bf4a47130
Signature as below:

{
  "address": "0x3bf8b0acc8db7a8958d7f0ca0ead9e5bf4a47130",
  "msg": "0x486172736861206f6e20626568616c66206f66205175657374626f6f6b20434750322e30207465616d20",
  "sig": "12937027e00d9d47b9fa072da9e03c79b8c3bea3853db998e597de46d4f71e6d1e91d152911ac8e0cb1cee1d39df4f32405a4800f53b9b4d292929a5651691d61c",
  "version": "3",
  "signer": "MEW"
}

harsha · November 28, 2022, 3:03pm

The proposal is up now!!

Thank you, everyone, for patiently following up on this proposal, and thank you @adam for all the assistance to help me navigate through the app. I’ll update here once the voting begins, it is currently in the review phase. This is the tentative voting cycle

madhavanmalolan · November 28, 2022, 3:12pm

Very excited to have this going!

VonNeumann2022 · November 28, 2022, 6:59pm

Thanks. That all makes sense and is helpful. I’ll vote for this proposal.

I’m generally supportive of better tooling and decentralization.

I’d be interested to know more about the KYC requirements and what will be charged for services surrounding that – are you referring to the need to screen under the OFAC list, etc.?

eaglelex · November 29, 2022, 7:10pm

Hi, I am part of the legal team which is assisting Questbook.

The KYC provider will apply the usual standards concerning the evaluation of risks (UBO, geographic area, type of activity). We want to avoid that Compound or Questbook get associated with illicit activities. That’s all!

It’s becoming a common standard within grants programs. Nothing new. Please tell me if you need further information.

harsha · November 30, 2022, 2:21pm

The proposal is live for voting now!
If you hold COMP, please vote. The voting ends in the next 48 hours. Thank you.

harsha · December 3, 2022, 6:51am

Update: The proposal has passed!

Thank you everyone for your consistent support throughout.
We are putting our heads down and working towards what we have promised.
Will be sharing the next plan of action very soon on this thread.

Thanks once again for the trust the community has put in us.

harsha · December 5, 2022, 10:28pm

Update: Confirming here that the transaction is executed, and the tokens have been transferred to the SAFE.

harsha · January 3, 2023, 10:51am

Compound Grants Program 2.0 goes live on 16th January 2023.

Here is everything you need to know!

CGP 2.0 will be run by Questbook and led by Harsha, who will be the program manager. This is a community-run grant program. Grants are spread across four domains, each led by a Domain Allocator(DA).

Each DA will rigorously review all proposals and disburse up to $200K over the next six months. They will also mentor builders, give feedback on proposals and ensure milestones are met.

The domains and the respective DAs are:

New protocol ideas and dApps by allthecolors
Security Analysis Tools & Security Bounties by Michael
Developer Tooling by Madhavan
Multi-chain Strategy by Bobby

CGP 2.0 will prioritize:

Transparency in fund disbursement, everything is on-chain.
Turn-around time (TAT) of 2 days.
Oversight and mentorship to make sure milestones are hit.

Blockchain Lawyers Group (BLG) will be working with us to ensure legal compliance. BLG’s independent legal advisors will support CGP 2.0 with contractual drafting, KYC standards, and any legal issues that may arise during the grant disbursement phase, and provide early-stage legal support to projects.

You’re all caught up now. If you or someone you know is passionate and believes they can contribute meaningfully to Compound, we encourage you to apply through the QuestBook tool on the 16th.

We are looking forward to your proposals.

For more information about the program and how it was developed, check out this thread.

If you have questions, please reach out to us in the #grants channel in the Compound Discord.

cameron_dynamic · January 5, 2023, 4:20am

Awesome to hear. Will reapply as we know previous weren’t seen. Thanks for all the dedication!

harsha · January 12, 2023, 6:54am

Here are the one-pagers from the domain allocators about their domains for CGP 2.0. The program is going live on 16th January, please feel free to share any feedback you have on any of the programs here. These documents have comment access to everyone with the link. Thank you!

New Protocol ideas and Dapps by @allthecolors
Security tooling by @cylon
Developer tooling by @madhavanmalolan :
Multichain Strategy by @Bobbay_StableNode

ClairvoyantLabs · January 12, 2023, 9:20am

For some ideas of multichain strategy, the deployment priority should be as follows:

Arbitrum>Polygon>Optimism>Avalanche>GnosisChain

For the above public chain, no introductory discussion is made and the topic is directly addressed.

Bobbay_StableNode · January 12, 2023, 3:02pm

I am currently mapping out a process for people to deploy Compound on other chains. We will provide a public evaluation metric to fairly evaluate the applications as they come.