We would like to remind you that The Optimism Collective, in collaboration with Syndicate, announced on June 1 the launch of co-granting in Season 4.
https://twitter.com/OptimismGov/status/1664342524805402624?s=20
And what does this mean for us?
This new initiative allows individuals to actively support the work carried out by the Optimism Grants Council and create an on-chain record of their contributions to the Collective. Co-granting offers an opportunity to provide upfront capital to builders working on novel use cases, reinforcing the mission to bootstrap a profitable market for public goods. In return, co-grantors will receive an NFT (non-fungible token) and an Optimism Attestation, recognizing their support and impact within the community.
Co-granting enables individuals to contribute USDC (USD Coin) to "match" the builders' grants awarded by the Optimism Grants Council. By participating, co-grantors provide upfront capital to important grant applications, particularly those focused on innovating novel use cases. The co-grant proceeds are directed to the matching contract, and distributions are executed based on decisions made by the Grants Council during Season 4.
Co-granting plays a crucial role in supporting the Collective and its goals. By providing upfront capital to builders, it helps overcome barriers faced by teams that require immediate access to capital. Promising grants, particularly those exploring novel use cases, benefit significantly from this type of support. Additionally, co-grantors receive a co-grantor NFT and an Optimism Attestation, signifying their commitment and impact within the Optimism Grants Council community.
In less than a month, users have contributed more than 117k USDC!
Look at these statistics!
Already 51k wallets have taken part in Co-granting
Total amount - 121k USDC
Top Donation - 10k USDC
*the data is current as of 06/23/2023
You can always find up-to-date statistics by following the link
https://flipsidecrypto.xyz/freemartian/6UmnpJ
The Grants Council manages the Governance Fund grants program and consists of nine elected community members. Their responsibility includes evaluating and selecting grant recipients based on their proposals' merit and alignment with the Collective's vision. The grants made by the Grants Council are in the form of OP tokens, which are locked for a period of one year, ensuring long-term incentive alignment between grant recipients and the Collective.
Enter the amount you want to contribute: To participate in co-granting, simply specify the desired amount you wish to co-grant. Once you've decided on the contribution, submit it. Your co-grant proceeds will be directed straight to the matching contract, ensuring that your support reaches the intended recipients. During the initial version (v1), the distributions from the matching contract will align with the decisions made by the Grants Council.
2. Distribution during Season 4: As the Grants Council selects and awards grants, your co-grant will be distributed in a similar manner. This distribution process continues until Season 4 concludes, which is tentatively set for September 20th. By aligning your co-grant with the Grants Council's decisions, you actively contribute to the development of the projects and initiatives supported by the Collective.
3. Receive recognition for your support: As a co-grantor with the Optimism Grants Council, you will receive two tokens of appreciation. First, you will receive a co-grantor NFT, which serves as a unique digital collectible, symbolizing your participation and support within the community. Additionally, you will receive an Optimism Attestation, further affirming your role and impact in contributing to the Collective's mission. These tokens provide tangible proof of your involvement and showcase your commitment to driving positive change.
What is the Grants Council? The Grants Council oversees the Governance Fund grants program and comprises elected community members.
Can I contribute assets other than USDC? Currently, only USDC contributions are accepted in Season 4, but future versions may expand the options.
Can I withdraw or edit the amount of my funds after depositing? In Season 4, fund withdrawals or edits are not permitted.
What happens to remaining funds in the matching contract at the end of Season 4? Any remaining funds will be returned to the Governance Fund to support grants in future seasons.
Will my contribution will be returned afterwards? No, co-granting is not like an investment, and you will not get any return on your contribution
Co-granting offers a unique opportunity for individuals to contribute to the Optimism Grants Council, supporting innovative projects and helping to create a profitable market for public goods. By participating, co-grantors receive an NFT and an Optimism Attestation, providing an on-chain record of their contributions and impact within the Optimism Collective.
To learn more and participate in co-granting, visit this website:
Remember that all your activity and especially this could be an eligibility criteria for future OP token airdrop ;)
Stay Optimistic!