Funding for Geth / OpenEthereum and others. Collect information and opinions

Recently the uniswap community has done a temperature check to see if it would be viable to use some of the DAO funds to contribute to Geth development.

Could be interesting to check if Maker DAO is also interested in collaborating with, not only Geth, but other projects, in order to have more variety of software implementations of ethereum nodes, in case some of them get bugged. The more the merrier.

Maybe we can use this thread to collect some information about what could be interesting to fund, what other projects are critical pieces for Maker and Ethereum future and how much would be a sensible amount to invest, in the case the community likes the idea.

Please, take also some time to read the Uniswap thread and how it progresses.

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I would echo this reply from @banteg in the Uniswap thread: “The amount in the proposal seems arbitrary (1.5M UNI which is roughly 30M USD), we should ask Geth team to elaborate their needs, e.g. whether they want to scale the team up. The proposal should also address the fears of them being cut off the EF funding. A long-term lockup contract sounds like a good solution to this, but it might not be enough with the donation coming in the form of a volatile token, leaving the team at mercy of UNI price.”

I don’t know much about G-Eth as I am no developer, but it would be nice to see additional financial specifications. Looking forward to following the UNI thread and thanks for bringing this to attention.

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I’m leery of Maker funding a good that can also directly help actors we don’t like or future competitors. Maybe I misunderstand, though, as I’m not a tech person. If we did choose to fund something like this, I’d rather see it in the form of cheap financing or loan guarantees rather than outright donation, since those can be substantially cheaper to provide but also still be impactful.

There’s also just the matter of precedent. We have a bag of cash, but we’re already straining under the weight of growing expenses. Without a dedicated revenue stream to provide for this kind of project, I don’t want to see us get in the habit of large donations.

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A relatively small donation (let’s say 1/3 dev salary), on a regular basis, may be better for the independence of the geth development team (and potentially others.)

If other protocols do the same, there will be a good mix that guarantees proper funding for the critical projects that we all rely on every day, but at the same time the influence of any one protocol would remain limited.

That being said, and I haven’t read up on the politics… the first question is why the Ethereum Foundation doesn’t just fund them properly? It’s not for a lack of funds, for sure.

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I would say Eth2 … But I am not sure. I believe the initial idea was to fund the maintenance and small improvement.

I would let them figure out what they want first. And then we can put up a proposal to create a critical infrastructure development fund, or something similar. This could be an inter-DAO collaboration; but it will require quite a bit of work to set it up and run the thing.

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MakerDAO should contribute where it can like donating on Gitcoin or donating to Geth. It doesn’t have to be a huge expenditure to make a difference.

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I agree. If many different DAOs collaborate with small recurrent payments through some kind of platform or DAO that organizes this kind of donations for ethereum building bricks, that would be good for everyone.

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Can we just use that to burn MKR instead? I get that there are protocols that are big into donation (especially via Gitcoin) and/or lobbying but we are fighting for limited resources.

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The problem is, if every protocol community reasons like that and geth maintenance or that of another foundational component is neglected as a result… this would have just as severe an impact as critical smart contracts bugs. It’s a matter of security to ensure that our infrastructure is maintained well imo. And we wouldn’t be doing more than others.

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Well, they do care and will donate on their own it seems like. Also, if ETH as a system is about to break down because dApps like Maker has to keep injecting cash to them, Maker was never meant to just sink with ETH, it can move to other mainnets.

In addition, as the above Tweet shows, their funding comes from EF and Maker Foundation has donated quite a bit to the ecosystem both directly and indirectly. You can still see MakerDAO as one of grants related to ETH. Ethereum Foundation & community grant programs | ethereum.org

So if it’s really that important, shouldn’t EF pay the bill? I mean Vitalik donated over $1 bil to Covid measure and some million to EF recently. They definitely have the resources

Agreed that the EF is the first choice:

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