Description

Formosa Art Bank DAO (FAB DAO)

FAB DAO, also known as Formosa Art Bank DAO, is a self-governing organization for charity NFTs since 2021. The largest charity NFT fundraising project in Taiwan, the "Project Percentage, %", brought together cross-disciplinary organizations and individuals to create a new system and style in Taiwan NFT market that combines the theme of charity, art and culture.

https://opensea.io/collection/projectpercentage

FAB DAO focuses on minting and selling non-profit NFTs, creating artist and collector communities, building blockchain experiences and designing blockchain education for the public. With goodness and eternity as our starting point, we are building a connected Web3 metaverse. We will apply the good features of blockchain to take the real actions in the real world.

Background

As FAB DAO became formally DAO in April 2023, the core team handed over the management of FAB DAO to the communities. Different initiatives and ideas were raised and discussed within FAB DAO.

At the same time, Public Goods ecosystems grew under the support of Gitcoin and other organizations. As one of the pioneers in Public Goods, GreenPill would like to share its experience and develop local chapters for different cities over the world.

When two communities connected with each other, the idea of Taiwan Chapter was born.

Mission & Vision, Value alignment

Green Sofa aligns with the mission and vision of GreenPill, which is to build a global network society transcending national and cultural boundaries, while exporting regenerative digital infrastructure to the world.

As one team under FAB DAO, Green Sofa aims to explore the possiblity of collaboration wtih GreenPill international and FAB DAO. It is a school for FAB DAO learning from GreenPill about Public Goods, e.g. QF/QV, Gitcoin Grants Stack. It is also a laboratory for FAB DAO to apply the knowledge, kick off hands-on projects in smaller scale, to gain local experiences and feedback to FAB DAO and GreenPill.

Critical success factors

Increase awareness of the GreenPill and look for collaboration opportunity with FAB DAO

Learn and apply GreenPill related tools and knowledge to support FAB DAO development, e.g. QF/QV, Gitcoin Grants Stack, Hypercert.

Act as the communication channel between FAB DAO and GreenPill International and other local chapters.

Summary of previous work in 2023

Establish Green Sofa team under the structure of FAB DAO on 13 Sep 2023

https://x.com/GreenSofa_TW/status/1724018034275393878?s=20

By participating in the GreenPill round during GG19, we used the funding on

Initiate the follow-up project with “Grant is Great!” local QF round including 11 projects

https://hackmd.io/g53iKGlxRWaVaLEnL4OkFA

Support GreenPill Japan due to Japan earthquake - 0.09 ETH

https://x.com/GreenSofa_TW/status/1743773826364969072?s=20

FAB DAO participated in previous GG18 Web3 community and educational round and Global Chinese Community round. The combined matching funds is 1369.6 DAI. The funding is used to launch a local QF round, name as “Grant is Great!”.

We had

32 individuals participated in donating;

direct donation sum of $93.57 across 166 donations

13 communities and individual contributors in Public Goods sign up;

here is a recap:

https://mirror.xyz/mashbean.eth/KCq0spYlJ20Vle3Z_-qMucGt_oOsDovNNfcCd-Nad9M

QV project with 100 xtz on Tezos NFT collection from September - November 2023

https://discord.com/channels/909473182598193272/1145697520148824075/1176763710509948939

Roadmap in 2024

Weekly Web meeting with FAB DAO Discord - GreenSofa channel

Regular update with GreenPill.network

Follow up “Grant is Great!” QF round on 2023 by survey and 1 on 1 discussion on Q1 2024

The 2nd grant as retroPGF format to reward Taiwan individual and commmunity for public goods

https://reportcards.gitcoin.co/10/0xe9459565709c5e856ffbc3cc8715824945d92de7

Achievement in 2024

2024-07:

Invite OP 中文力量 Marcus (Optimism_cn) update Optimism retroPGF 5, discuss GreenSofa easy retroPGF to GreenSofa.

2024-06:

GreenSofa first NFT on akaSwap platform on Tezos chain

https://www.akaswap.com/akaobj/25336

2024-03: Successfully raised funds on GreenPill x Octant Community Round, and we extend special thanks to the Octant community! (matching fund received: 0.27 ETH)

2024-01:

GIVETH approved Green Sofa

https://giveth.io/project/greensofa-greenpill-taiwan

AMA together with GreenPill Phangan on Regen Infrastructure: on the way to QF. Talk with GreenPill Taiwan

https://x.com/GreenPillKPG/status/1751048683343454443?s=20

Support Japan earthquake relief fund by GreenPill Japan - 0.09 ETH

https://x.com/GreenSofa_TW/status/1743773826364969072?s=20

### Previous Work and Plans Related to the Web3 Grants Ecosystem

**Previous Work:**

1. **Participation in Gitcoin Grants Rounds:**
   - GreenSofa actively participated in the Gitcoin Grants 18, 19 and GreenPill x Octant Q round, specifically in the Web3 Community and Educational Round and the Global Chinese Community Round. The combined matching funds from these rounds totaled 1,369.6 DAI.
   - **Outcome:** The funds were used to launch a local Quadratic Funding (QF) round in Taiwan, named "Grant is Great!," which supported 13 communities and individual contributors focused on public goods.

2. **Local QF Round - "Grant is Great!":**
   - Organized a local QF round in Taiwan, applying the traditional QF mechanism to support 11 public goods projects. This initiative aimed to foster local innovation and provide financial support to community-driven projects.
   - **Outcome:** The round saw 32 individual participants, with a direct donation sum of $93.57 across 166 donations, further demonstrating the effectiveness of the QF model in a localized context.

3. **Support for GreenPill Japan and Other Initiatives:**
   - Contributed to global public goods efforts by supporting GreenPill Japan during an earthquake relief fund, donating 0.09 ETH on GIVETH. This demonstrated GreenSofa’s commitment to extending its impact beyond Taiwan and supporting international public goods initiatives.

4. **Exploration of New Funding Mechanisms:**
   - In 2023, GreenSofa experimented with Quadratic Voting (QV) for an NFT collection on the Tezos chain, aiming to explore the potential of blockchain technology in public goods funding.

**Future Plans:**

1. **Expansion of Quadratic Funding Rounds:**
   - GreenSofa plans to continue organizing and expanding QF rounds in Taiwan, with the next round adopting the easyRetroPGF mechanism. This approach will allow for retrospective funding, rewarding individuals and communities based on past contributions to public goods.

2. **Collaboration with Hypercerts Lab and GreenPill Network:**
   - GreenSofa will collaborate with FAB DAO’s Hypercerts Lab and the GreenPill network to refine and implement funding mechanisms, ensuring that the tools and methodologies used are cutting-edge and effective in driving public goods funding.

3. **Ongoing Community Engagement:**
   - GreenSofa will maintain regular engagement with the community through weekly meetings, workshops, and educational content focused on public goods, blockchain technology, and Web3 principles.

4. **Leveraging Funding and Grants:**
   - GreenSofa plans to seek additional grants and funding opportunities through platforms like Gitcoin and Giveth to sustain and grow its initiatives. The funds will be directed towards supporting more local projects, enhancing the infrastructure, and scaling the impact of public goods in Taiwan.

Through these efforts, GreenSofa aims to solidify its role in the Web3 grants ecosystem, contributing to the global movement of funding public goods while tailoring solutions to the unique needs of the Taiwanese community.