Grant Proposal: Sustainable Perpetual Funding on Nouns Prop House for 3x Dev Interaction


Receiving Address: 0x9C6b407cF3fbce9BfdaeB531E1D1DE4Af703efD8
AJNA Amount: 369,369 Ajna (roughly 31,000 usd today)

Applicant and Team Information

Applicant Name: Doppler
About you and/or the team: Ethereum Since before ‘Frontier’ mainnet
Additional Links:

Project Information

  1. What is it?
    Trial Rounds of Ajna Community Roots Program on Nouns Prop house over the next 3 months.

  2. What problem is being solved, how?

Current grant funding is limited to 10 projects and there are often many small contributions that need attention. By providing micro grants we can keep the main grant channel clutter free and help bootstrap developers in cases where they may simply need gas to deploy or small retroactive payments for awesome work. This will assist by streamlining the main grants system and expand the reach of the grants program by 3x! The result being rewarding/ onboarding an additional 20 contributors each grant cycle.

In a fast-paced industry, telling a hungry developer to check back in 3-6 months for future rounds only results in loss of developer interest.

  1. How will this project be a source of growth or success for Ajna? Please include a step-by-step summary of how you imagine the completed project will affect Ajna.

3x the grants program reach through funding of 20 developers.
Additional visibility on established channels.
Help streamline the grants process by addressing smaller needs.
Create constant engagement with upcoming developers.
Create Ajna ecosystem action across L2 Networks

  1. What is/are the objective(s)?

Fund twenty proposals on Nouns Prop house by running 6 rounds. Each being every 2 weeks apart for the duration of 3 months. We can multiply effectiveness plus create value for the protocol and community by creating an Ajna Community Roots Erc20 token and voting NFT. The erc20 token is called ACR for Ajna Community Roots. This token has fixed supply of 300k on 4 blockchains.

Base ACR ERC20 token supply 300k
Polygon ACR ERC20 token supply 300k
Optimism ACR ERC20 token supply 300k
Arbitrum ACR ERC20 token supply 300k

On each chain 300k ACR and 75k Ajna will be paired together on Uniswap V3 with a starting price 1:1 with Ajna. All ACR will start in the Uniswap pools. Grants are paid in UniswapV3 LP NFTS as liquidity chunks this first round.

Each day rotating across the 4 chains we will have an NFT auction priced in ACR and this NFT will have voting power to fund the prop rounds. If users want to join they must buy ACR with Ajna and the ACR raised from sales will go to fund future rounds.

This system is designed to promote activity can create perpetual opportunity for everyone in a sustainable way. This ~$30k ajna grant will instantly become $120k-150k in prop house program funding TVL.

  1. What is/are the deliverable(s)?
    Deploy an ERC20 Token
    Launch an ERC721 NFT collection.
    Add liquidity to Uniswap.
    Run 6 prop house rounds.

As corny as this may sound, we can use Thirdweb’s NFT marketplace for auctions/direct listings in any erc20 token, to deploy an Erc721 NFT collection, and create our Erc20 token. This enables instant deployments of audited systems. In the future we can explore gasless transactions and gelato automation.

  1. What is the timeline for completing the deliverables?

Week 1 ACR ERC20 token, Liquidity on Uniswap, and community engagement.
Week 2 NFT marketplace and NFT collection
Week 3 First prop round
Week 5 Second prop round
Week 7 Third prop round
Week 9 Fourth prop round
Week 11 Fifth prop round
//week 12 next grant cycle closes.
Week 13 Sixth prop round

  1. What level of support do you anticipate needing through the duration of the project?

Technically none, but I believe there is benefit for all participants who wish to join.

  1. How often will progress reports be published to the forum?

Every two weeks between prop rounds to summarize the previous round and announce the next round.

  1. What are the estimated costs associated with the full completion of this project?

300k Ajna to liquidity pools across the 4 chains.
69,369 to myself + my partner for organizing the rounds, paying gas, and any minor subscription costs for hosting the NFT marketplace.

Again, this is a trial run, and we can see how engaged the community is to evaluate in future grants runs. Successful or not, I believe this model will be an interesting case study and worth the asking amount of 0.15% of the Grants treasury.

  1. If applicable, how will the project be maintained after completion of the grant?

I believe fee generation from long term Uniswap liquidity pools and collecting payments in a very low supply protocol token will assist in this. In the case interest slows down, the liquidity will create opportunity over time.

Additional Information

  1. How will you handle a delay in your project timeline?

The design is easy to maintain and at the current stage low risk. As always clear communication is key.

  1. How will you handle a scenario where the original scope can’t be completed due to insufficient funding or other factors (Deficit of funds, or other)?

I place this project in the experimental category which does carry risk. Everyone should know that going in, but the project exists purely to bring BONUS value and developer incentives to Ajna Finance.

  1. How will you handle a scenario where the project is completed, but significantly under budget (surplus of funds left over)?

Fund more driven individuals as part of this hive mind building a better permissionless future for everyone.

1 Like

I would like to open this for comment and especially hear from the users who represent the community through delegation, communication, or passion.

If you privately wish to share your opinion or how it can be better organized. I can be reached @doppler99 on discord.

I will be happy to share more details about us, but currently it seems only certain proposals are promoted on socials and within the forum. This further shows why this proposal is needed and how it can diversify the current bottleneck of token control.

Thanks for submitting!

Initial Thoughts

  1. I like the core idea of doing a mini-grant program to get more small-scale opportunities funded across multiple chains.
  2. 20 proposals over 3 months sounds doable but why the speedrun? I would be more in favor of an open term model with higher selectivity. I think the model as is will attract and incentivize voters to give money to lower quality proposals.
  3. The ACR thing hasn’t clicked for me yet. Why not just enable AJNA or bwAJNA token holders to vote?
    3b. I find the whole AJNA/ACR/NFT thing very onerous. Firstly, anyone participating from the US will have to deal with a huge tax filing headache vs just receiving a grant directly in AJNA. Secondly, this model incentivizes the grants to get captured. A whale could come, buy up AJNA, trade for ACR, buy the voting rights, then self award the grants and dump the AJNA/ACR LPs making all their money back and more. Less feasible this first cycle due to thin liquidity, but once we have MMs making more AJNA avaialble it becomes very possible. Sure it may cause an AJNA pump but there will be a larger AJNA dump when the attack is completed. Third, it also incentivizes grantees to try and self award their proposals by buying the voting rights themselves.
  4. I don’t get how the 30k grant becomes 120-150k. You are presuming that people will bid up the ACR and then the NFTs. If the grants are in ACR/AJNA LP, then the grantees sells the ACR side into AJNA, then AJNA into USDC or whatever final asset they want right? So the ACR price gets pumped before the votes and dumped after the grant claims. I think it’s misleading to say 30k becomes 120-150k of value…that’s just not true imo. Unless i’m missing something, you tell me.
  5. IDK who you guys are, trusting you with 369k AJNA is not attractive to me given your anonymity and lack of references and public reputation. Would be great to learn more about you.


  1. Do you have any references who can vouch for you?
  2. Do I understand correctly that it will be 4 total auctions every day to acquire an individual NFT voting right token per auction?
    How many total auctions? How long would this run for before the first prop round? Your timelines shows one week…so does that mean there will be 28 total vote NFTs? Would love clarity here.
  3. Why are the voting rights valuable? Why bid on them with ACR if you’re not planning on rewarding yourself?
  4. Why would a grantee hold onto the LP? Wouldnt they just sell ACR side for AJNA, then either hold or sell the AJNA for a stablecoin?
  5. What kind of grants do you envision this funding? I would love it if RFP ideas could be shared. Do you see any low hanging fruits that would be value adds for the ajna protocol on those chains?
  1. Why speedrun, because asking for more than 3 months funding and being unknown is less likely. Also, assuming there is only 18 months left of developers being interested in the bull cycle. We probably want them to start building now.

  2. Why ACR, because by creating a pool of similar tokens on 4 chains creates arbitrage with Ajna. Ajna cant create opportunity for itself. In your system people go from ajna to eth . here acr is rare and has a fixed supply, pulling liquidity form eth to ajna to acr or just ajna to acr. ACR creates a reason for ajna to be purchased.

This creates value at a token level, a pool level, and nft level, a treasury level, and dev funding level. If we just used ajna there is no additional value created. these levels are similar to vetokomics on velodrome if they had a fixed supply token

3b. The system is in cycle stages across 4 chains. A release of fundings on dumping on polygon while the 3 other chains do not dump creates a rebounding effect on the dumping chain. The voting rights thing that you mentioned is what happens in ajna now. This creates a reason to lock in and reward users for holding similar to ajna’s burn system. As for taxes, it is no different if the cash out is exiting as a multihop. Taxes are only paid on gains…
As a fixed supply asset there is incentive for them not to sell and exit and it spreads out a rare asset instead of printing it to zero.

  1. 30k becomes 120k in grantable assets by placing liquidity initial values then granting the liquidity. yes it is a rate of enter verses grants, uniswap LP positions are equal to options positions allowing for very low risk and leverage like gains based on strike placement. With a 5 to 1 ratio starting point, it means that we only need 1/5th of of the buying power to stay equal like a weighted pool. It is an asset in a bull market with a fixed supply. Currently, anyone who receives ajna has incentive to sell for many reasons but mainly the 4x inflating supply. ACR can reduce that by being fixed supply can absorb the inflating supply for possible value capture.

  2. Yes you don’t know who we are execpt that we have an ethereum address as old as the network itself and we are asking for the least money being $30k or about 0.15% of the treasury. What we offer is looking to bootstrap other developers who always have an issue with this exact 0 to 1 funding. To be honest I dont know who you are and none of us should know each other if these systems are truly trustless. It is obvious that you are keen to only grant to prior relationships and honestly that is a huge red flag. No body else is offering honest numbers of value return. Calling out the guy’s statement that you vouch for stating “it will bring billions in volume”. This mathematically crates a $120k TVL of a liquidity pool on placement.

I offer value in an audited nft marketplace via thridweb that uses ajna by default, a reason to buy ajna, use case on l2’s for ajna, onboarding new developers.

Question answer
1.References. My eth address age and the fact that we plan to lock liquidity forever. No other applicants or contributors have that commitment. To be honest, my optimism chain balances is larger than the ajna treasury. I shouldnt have to know you personally to get a grant. You do know that all other grant applicants will sell ajna. I will lock it forever . This shows why we are so passionate about these systems being correct and butthurt when the grants go to friends based on deals already made between parities before the token is launched. Our personal ask is $6000 to us, but or some reason giving someone else $200k for a javascript ui is a better option.

I am a true believer that these systems were created give all users a level playing view by providing the tools that were used to repress them for the history of human kind. We have an opportunity to create sustainable value instead of hype based systems.

  1. There will be one nft auctioned on polygon on day one. one on arbitrum on day 2, one on optimism on day 3, base on day 4, polygon on day 5. only one nft is a vote. so after 365 days there would be 365 nfts total ~ about 91 on each chain.

  2. Acr is valuable because it is rare. I didnt want to over do it in the proposal, but the nfts basically have rights to an entire multichain nft marketplace too. There are some awesome synergies between ajna protocol, the roots microgrants program and an ajna focused nft marketplace.

  3. Why sell a rare asset that makes fees. By not selling, it can fund their project long term instead of cashing out. Its sustainable and long term funding instead of short term cash out thinking.

  4. yes definitly some example are reusable react components one by one to start, data ui dashboards, getting people to set up the subgraph. These prop rounds are like mini hackathons that ideas are brought to us. Even simple things like artist selling ajna themed artwork, requesting payment in the token, sharing it online, and offering loans against it. Pudgy penguins founder said they have a team of 6 just doing pudgy memes. Creators are a powerful tool.

Like i said, often just deploying contracts can be a few hundred dollars for new developers and telling anyone to wait to try for a grant in 3-6 months is pushing them a way in a fast paced industry.