MetaCartel Grants Funding (Wave II)
rDAI, Pocket Moloch and DAOsaka DAICO
After our first wave of grants, to Mintbase, Kickback, and Odyssy, we began to think more about how the DAO was going to evolve into a sustainable and potentially profitable entity. We need to understand how we can build valuable DApps and DAOs that have the means to become sustainable. The current grant funding ability enables us all to leverage a ‘double jump’, as a stepping stone to evolve.
However, once you double jump — you can’t double jump again.
Amidst the discussion around for-profit DAOs, we realized that even if we had the funds and ability to invest into DApps — we wouldn’t have a large market of viable DApps to fund regardless.
So, what would we invest into?
One of the observations was that, despite the recent acceleration and greater focus around DApp development within the Ethereum ecosystem, we are still a grinding halt with our shared understanding what potential business models DApps could adopt and implement. Typically, the community does not venture far off beyond the idea stage.
The Ethereum community’s biggest challenge to overcome will be to build valuable DApps that are not only self-sustaining but also profitable.
As a result, MetaCartel DAO has been heavily focused on understanding what experiments needs to be funded to move this needle — and thus sets the tone for this wave of funding from MetaCartel. Congratulations to rDAI, Pokémol and the DAOsaka DAICO.
Wave (II) of MetaCartel Funding
🌱 rDAI
$9,750 (Proposal link)
rDAI allows users to re-direct interest earned from DAI staked in DeFi protocols without requiring the underlying collateral to ever leave the user’s wallet — opening up the possibility of ‘programmable interest’.
- Enables an entire field of possibilities around web3 native interest-based business models and user interactions around ‘free money’
- Some use-cases of rDAI include subscriptions via DeFi interest earned, automatically voteless DAOs, stable interest rates and more.
MetaCartel DAO will be looking to fund rDAI’s Audit from Quantstamp and the additional remaining smart contract development for the rDAI team and Tribute⚱️, to launch rDAI to an initial mainnet 1.0 deployment. MetaCartel DAO will also be playing an active role in the further development of the rDAI developer community.
👹 Pokémol
$5,000 (Proposal link)
Pocket Moloch was initially created for MetaCartel DAO’s front end by Odyssy and was supported by the first wave of MetaCartel’s funding — now it is being spun out as Pokémol, a community project that has already been deployed for Yang DAO and Orochi DAO. This additional wave of funding will fund their development of Pokémol 1.0 specs for improved DAO UX. Odyssy was also part of the initial team behind the development of DAOHaus, a Moloch DAO contract factory that also onboard user pledging.
🌸 DAOsaka DAICO
$1,000
DAOSaka is the first-ever NFT Art DAOICO run by MetaCartel DAO and Known Origin as an experiment to push our shared understanding of how to coordinate DAO funding. This DAICO will collect a maximum of $2,000 dollars of investment and attempt to make a profit via the sales of NFT Artworks, which will be commissioned by the initial pool of investment. The profits of the DAICO will be shared back to initial investors and artists.
- Can we invest money into a DAICO and make a profit?
- What does it take to coordinate a micro-financing DAICO?
The DAO will be coordinating the investment DAICO and will also be providing an initial $1,000 USD worth of initial funding.
What else are we looking to further fund?
- DApps that are looking to pilot an rDAI business model experiment
- DApps interested in experimenting with native ad models
- DApps that help people do a job faster and better using web3 technolgies
