Grant/Project Name: Inverter
Proposer’s contact info:
- dora@inverter.network
- metaberk@inverter.network
- alp@inverter.network
Grant Category:
-Apps + Tooling
ELI5 Project Summary:
Inverter an ‘Operations Portal’ that brings together all the ecosystem stakeholders in a one-stop platform for coordinating funding operations with reduced overhead while bringing more collaboration, circularity, transparency, and accountability to funding operations.
Project Description:
Inverter dApp is inspired by the Operations Portals that are being used to fund over 1.2 trillion USD to development projects across the globe by organizations like the United Nations, World Bank, and European Union. Our aim is to interconnect the novel technologies of web3 to the grounded funding infrastructures of traditional organizations to improve access to funding and inspire distributed ownership for builders and funders of the next generation of the internet regardless of their backgrounds.
Simply said Inverter is an ‘Operations Portal’ for organizations to manage their grants programs, funding operations, and treasuries. It is a one-stop-shop for contributors to apply for funds, manage funds and maintain feedback loops with funders and community stakeholders.
Inverter Product MAIN Features TL DR
- (2022)Initial Release:
- Milestone-based Long term project/workstream funding and joint funding with reduced overhead
- Transparency around funded projects for communities
- Organizations can manage and track their incoming proposals and funded proposals from one organizational page
- Teams can have one common proposal that can be used for applying to, streaming funding from, maintaining accountability with, and receiving continuous feedback from many organizations.
- Ability to withdraw funding from a project
- (2023) Funder Treasury accounts that can run yield earning and diversification strategies with continuous payment abilities
- (2023) On-chain milestone-based investment based on KPIs and Due Diligence
- (2023) Multi-token funding with fluid funding governance
- (2023) Tax-deductible donations
- (2023) On-chain organization(DAO, Association, etc.) establishment
- (2023) Community Conviction Signaling
Relevant links:
- Twitter: @inverternetwork
- Github: Introduction to Inverter - Inverter Network-Docs (WIP)
- Previous projects the team has meaningfully contributed to PrimeDAO, Gitcoin, Molecule, Gnosis safe, MakerDAO, Olympus, Celo Network, Curve Labs
- Comparable projects or peers:
Questbook: https://www.questbook.app/
Gitcoin: https://gitcoin.co/
Giveth: https://giveth.io/
Ceramic Ecosystem Value Proposition:
- What is the problem statement this proposal hopes to solve for the Ceramic ecosystem?
We aim to create a protocol standard for recording information and data about a project throughout its life cycle using Ceramic as the trusted data infrastructure. Since Inverter aims to be the infrastructure for funding and payment solutions, as more people use Inverter through Inverter’s own whitelabel and through other applications that Inverter integrates (Giveth, Wonderverse, Gitcoin 2.0), the platforms that Inverter integrates with will also on board to Ceramic, and more people will use Ceramic as the trusted infrastructure for archiving their project and contribution activity.
- How does your proposal offer a value proposition for solving the above problem?
We want to leverage this flywheel effect for aggregating information on contributors, funders, and projects on Ceramic to achieve network effects for making Ceramic the infrastructure for the social layer of the p2p economy. We want to use this project registry standard to store project data as nested objects on Ceramic that not only includes mutable and immutable data, but also link to the smart contracts to package information in relation to the project creator, project details, milestones, and deliverables, project verification stamps, project team contributors, and funders.
- Why will this solution be a source of growth for the Ceramic ecosystem?
Building on Ceramic allows us to open up the data produced throughout a project’s life cycle to the Ceramic ecosystem for building novel mechanism primitives on top of the produced data.
We believe we could achieve this true interoperability not only by integration at the smart contract level but also through a shared database. Without creating an interoperable data commons base, we would limit the users in different tooling, infra, or marketplace platforms to move their information about projects across different applications to serve different needs, as they would be forced to manually move information with them and update their project’s progress on multiple applications to access services.
Most importantly, we can build on this data commons the social layer of the p2p economy. These protocols could be related but not limited to reputation systems, dashboards, and impact proofs, and overall help us build novel mechanism primitives on top of the produced data. These include verifiable contribution history, back open-source p2p reputation systems, attestation mechanisms, skill trees, data analysis, loans, voucher systems, and hypercertrs. Therefore, we want to create a common ground of interoperability while allowing different platforms to focus on their curated offerings and benefit from data commons for new p2p social primitives.
Further down the road, we also want to create community signaling mechanisms + subscription and coordination data flows between funders. Such novel social communication layers for organization-to-organization coordination would enable us to build network graphs to aid collaboration by pairing similar projects.
Also everything aside from building on top off Ceramic, Inverter is a platform for grant programs to operate their grants programs on. We want to onboard the Ceramic Grants team and the ecosystem to Inverter for their future funding operations and management of their grant programs.
Funding requested (DAI/USDC): [$29540]
Milestones:
- Milestone #1: Ceramic Integration - [$17280] Time estimate (2 months)
- Inverter Team onboarding to Ceramic [12 @ 80$/hour]
- Backend Integration Roadmap and Planning [24 Hours @ 80$/hour]
- Database architecture and development [40 Hours @ 60$/hour]
- Backend Development - ComposeDB Data modeling [80 hours @ 80$/hour]
- Data aggregator & Data Flow development [40 Hours @ 60$/hour]
- Frontend - Self.ID integration [40 hours @ 80$ hour]
- Milestone #2: Inverter Launch and Ceramic integration battle testing [$12240] Time estimate ( 1 month)
- Frontend - Unit & Integration Testing [60 hours @ 60$/hour]
- Backend - Unit & Integration Testing [80 hours @ 80$/hour]
- Maintenance [20 hours @ 40$/hour]
- Debugging and Documentation for open source [24 hours @ 60$/hour]
I understand that I will be required to provide additional KYC information to the 3 Box Labs to receive this grant: Yes
