Commons Stack Conviction Voting Results: Top 15 Projects to Receive Massive Matching
Community Vote Helps Allocate ~$120,000 Worth of $PAN to Gitcoin Grants
The Commons Stack launched a new pilot of Conviction Voting to decide how we match grant funding through the Panvala League & Gitcoin Grants program. This was made possible because of the hard work of the Panvala, 1Hive, BlockScience, Aragon, and xDAI communities and several long sleepless nights from @sembrestels.
🎉The results are in for the Commons Stack Community Fund! 💰
Currently the Commons Stack Community Fund Grant is the number one Panvala League Cluster! Panvala issues funds to match donations in PAN on top of the already awesome matching that Gitcoin provides.
PAN donations to our Community Grant are matched at : ~89x 👀
And we have reached Goal 4 where the funds are split equally among all 15 grants! To see the details of how funds will be distributed
If you donate 100 PAN (~$10) to this grant, 8900 PAN (~$890) will be donated on top by Panvala so that $10 becomes $60 for each project!
Note that as the grant round goes on, the matching amount will change, but whatever it turns out to be it will be MASSIVE!
The Final Trusted Seed Rankings
🥇 Commons Stack Iteration 0
🥈 cadCAD: Computer Aided Design for Complex Systems
🥉 1Hive Gardens
#5 Conviction Voting cadCAD Model Feature Improvements
#6 Giveth 2.0
#7 Token Engineering Commons
#8 Commons Simulator: Reverse the Apocalypse with Economies that Fund Public Goods
#10 TokenEngineering Academy — Education for Web3 Crypto Economic System Designers
#11 Independent Ethvestigator Program
#12 Support the 🌟 Community Currency Alliance 🌟 enabling an inclusive currency ecosystem
#14 Gitcoin Grants Round 8 + Dev Fund
#15 Week in Ethereum News
CSTK Token Holders Can Now Use Conviction Voting on xDai
On-chain governance doesn’t work anymore because gas is too expensive :-(
We have good news! We’ve moved our CSTK Token to the xDAI chain, where decentralized governance is cheap, fast, and fun! So cheap in fact, we were able to send all 96 members of the Trusted Seed 0.05 xDAI in one transaction and it cost $0.003. No that is not a typo, it cost less than half a penny and took less than five seconds!
And $0.05 worth of xDai is enough to pay for every vote a CSTK token holder will make for the foreseeable future.
To celebrate the successful and smooth migration, we are running a Conviction Voting pilot to allow the Trusted Seed of the Commons Stack to rank the most important Gitcoin Grants in the Commons Stack Community.
🎉Try it out: cv.commonsstack.org 🎉
The top 15 projects on September 26 at 11pm Berlin time (2pm LA time) will be rewarded as detailed in the Commons Stack Community Fund Grant. In short, the higher the ranking, the more funds from our Panvala League Community Fund they will receive, and every grant that is selected in the top 15 grants will receive at least $1000 from this Gitcoin Grant round.
Note: Gitcoin extended their grants round 4 days so we also delayed the deadline 4 days to give people more time to vote.
HOW DOES IT WORK?
Step 0: Get your hands on some CSTK tokens!
- Learn more about the CSTK token in this article.
- Contribute time or donate funds to the Commons Stack.
- Apply to become a member of the Trusted Seed.
- You can check to see if you have CSTK tokens by searching your address on Blockscout or you can add CSTK as a custom token on MetaMask, the address is 0xc4fbE68522ba81a28879763C3eE33e08b13c499E, but it will only show up in MetaMask if you are on the xDAI network.
- If you don’t remember what Ethereum address you used in your application to the Trusted Seed, feel free to DM anyone on the Commons Stack team on Telegram and we can check.
Step 1: Set up MetaMask to work on xDAI
0. Pro Tip: click the 3 dots in the corner and use the Expanded View
- In MetaMask, click the network drop down (We took this info from this guide)
2. Add these values:
Network Name: xDai
New RPC URL: https://xdai.poanetwork.dev
Block Explorer URL: https://blockscout.com/poa/xdai
Step 2: Vote on your favorite Gitcoin Grants
1. Select the MetaMask Account that holds your CSTK Tokens and switch your network to xDAI
2. Go to https://cv.commonsstack.org/#/ and find the “Enable account” button, on some screen sizes the words aren’t there and you will only see a lightning bolt ⚡️
3. Then check out all the great Gitcoin Grants that are coming out of the Commons Stack Community and pick & click your favorite!
4. You will be sent to the proposal screen where you can click the green “Support this Proposal” button and choose what percentage of your tokens you want to stake towards that grant!
Note: Conviction Voting does not require you to transfer CSTK tokens — they remain in your wallet and are non-transferable, they are yours forever :-D
5. Then click “Support Proposal” and confirm the MetaMask transaction that pops up! Then rinse and repeat for your favorite grants!
Remember! It takes time for your voting power to build up. Right after you vote, there will be no change in the total amount of votes that the grant has accumulated, but it is accumulating! After one day your voting power will reach 50% of its max, after two days it will reach 75%, three days, 87.5% and so on.
Step 3 (Optional): Add Your Favorite Gitcoin Grants to vote on them!
If you are part of the Trusted Seed and don’t see your favorite Gitcoin Grant up there, ADD IT!
1. Go to https://cv.commonsstack.org/ and find the “Create Proposal” button, sometimes the words aren’t there and you will only see a circle with a plus sign in it ⊕
2. Put the exact title of the Gitcoin Grant as the title for your new proposal and include the link to the Grant as well. Then click the “Submit” Button!
3. Then confirm the transaction in MetaMask. If MetaMask doesn’t pop up, then you might need to click that cute little fox with a 1 next to it in your list of browser extensions.
Help us improve our DAO
This is a pilot and your feedback is VERY welcomed! If you have any ideas on how to make the user experience better, feel invited to make an issue in our Github repo. We promise to shower you with Praise to acknowledge your valuable input!
Find Out More
You can read more about how Conviction Voting was derived and modeled in our original Medium post, and on GitHub you can find a more comprehensive explanation of how this came to life through a collaboration with Aragon, 1Hive and BlockScience.
- Join the Commons Stack community on Telegram or Element
- Read more on what the Commons Stack is building
- Follow the Commons Stack on Twitter
- Find more resources on our website