Challenges
Best Novel Funding Distribution Tool
Our conviction voting app, built on Allo protocol v2, is an improved design on the funding mechanism pioneered by 1hive and gives grant funders a low friction - high efficiency option for funding public goods
Project details
Welcome to the high impact, low friction, continuous funding world of Conviction Voting 🌎
Most grant funding mechanisms take an enormous amount of administrative overhead. Project vetting and approval, marketing bonanzas, fraud detection, contract deployments and funding distributions are repeated round-by-round or even grant-by-grant, often for very similar batches of projects who depend on those grants to build the infrastructure that makes web3 work.
Behold, there is a better way! 🌈
Conviction Voting 101
Conviction Voting is a funding mechanism linked a pool of tokens and a social contract, designed to distribute tokens from the pool to a collection of people, projects, or purposes as efficiently and with the best ROI possible.
Community members request funding from a pool in discrete amounts or through token streams (coming soon), and voters stake their support to approve. Conviction Voting replaces a lot of the manual human intervention needed in most grant funding mechanisms with a thoughtfully parameterized governance framework:
More funds requested = more support needed for the proposal to pass.
Voting weight increases the longer you stake in a proposal, so your support "grows conviction."
Voters can support any number of proposals with any portion of their voting weight.
Malicious or abusive proposals can be disputed and sent to arbitration.
When a proposal reaches its support threshold without dispute, funds are distributed.
These allow for continuous funding of grants without rounds and without an admin committee or an entire community needing to be involved in every funding decision. Designed for grant programs that fund ongoing work for early stage projects that only need small periodic funding - an ideal incubator for viable independent token communities.
More cool features of our app:
Signaling Proposals - proposals with no funding attached. These can be used to create polls that might need the security of Conviction Voting, like continuous elections for a Gnosis Safe or token weights in a treasury portfolio.
Address whitelisting - proposal creators and voters can be restricted to a specific set of addresses.
Adjust support for all proposals at once - a simple UI with transaction bundling to make it easy to change support on all active proposals at the same time.
Features we'll add next:
Streaming Proposals - proposals that pay out via token streams on Superfluid
Dispute resolution - pick a Gnosis Safe to serve as they jury in proposals that are disputed.
Create a Proposal - a UI to create a funding, streaming, or signaling proposal in a Conviction Voting Pool.
Create/Manage a Funding Pool - a UI to create a Conviction Voting Pool and manage the pool's parameters and settings as an admin.
Create/Manage a community - a UI to set up your own community with a social contract and staking token, which can then be linked to any number of funding pools and strategies.
Integrate more Allo strategies - allow communities to create funding pools linked to quadratic funding, direct grants, or any other Allo Protocol v2 strategy.
Our design is modeled after Gardens (https://gardensdao.eth.limo/) - a Conviction Voting platform used by communities on Gnosis Chain for over 2 years. The platform has securely held as much as $40M in funding, and has distributed millions to these communities with 0 hacks or malicious proposals to date.
Our goal was to replicate this system using Allo Protocol v2, and to improve the UI for Conviction Voting to make it easier for people to understand. We believe Conviction Voting is ready to grow beyond the niche group of expert governance nerds that first conceived and experimented with it 🤓