This is the Perpetual Fund part of the discussion in t/1105. Updated on 29 October: recipients who can’t accept $JUSTICE can now ask for ETH, within a limit (see Payment), after Gabriel’s question in #2; and the ballot, budget, dates, purchase, quorum and sanctions rules are tightened. It goes to Snapshot with AIP-21 on 1 November.
本帖是 t/1105 讨论中关于永续基金的部分。10 月 29 日更新：根据 Gabriel 在 #2 提出的问题，无法接收 $JUSTICE 的受助方现在可以申请改收 ETH，但有上限（见"发放"）；同时完善了投票、预算、日期、买入、法定人数和制裁核查的规则。11 月 1 日与 AIP-21 一同上传至 Snapshot。
1. Summary
AIP-20 staked 59.65 ETH and kept the rewards in the Perpetual Fund until holders chose a mission. Holders chose peace. This proposal sets how the rewards are spent: grants to work that fits the mission, decided by holders in one vote each quarter, and paid in $JUSTICE, with ETH as a limited exception. The principal is never spent.
2. Motivation
The rewards are small for now, about 1.3 ETH a year at the current rate (0.056 ETH in the first 15 days). They will grow as more of the treasury is put to work. A separate Snapshot vote for each grant would mean a quorum to reach every time for amounts this size. One vote per quarter, covering every application at once, keeps the decision with holders without wearing them out.
Paying grants in $JUSTICE means that most of every round is also a purchase of $JUSTICE, and that recipients become holders with a voice in the DAO that supported them. Some groups can’t accept a token like $JUSTICE, so they can ask for ETH instead, up to a quarter of each round.
3. Proposal details
Budget
- The principal is the 59.649856 stETH staked under AIP-20. It is never spent.
- Each round’s budget is the stETH value of the wstETH in the Safe, minus the 59.649856 stETH principal, minus any grants already approved but not yet paid. Grants are paid by selling that wstETH, so past payouts are already reflected in the balance. Anything unspent stays in the fund for the next round.
- If a later AIP stakes more of the treasury, or directs other income such as liquidity-position fees to the Perpetual Fund, those returns join this budget under the same rules.
Who can apply
- Anyone, for work that passes the mission test in AIP-21.
- No grants to political parties, campaigns, candidates, or governments.
- Signers, Consensus Unit members and their close associates may apply, but must say so in the application, and a signer does not sign a payment to themselves.
Quarterly rounds
- Applications are posted on the forum. Each says who will receive the grant, what it is for, the amount in ETH, the receiving Ethereum address, and how the work will be reported. An application that asks to be paid in ETH rather than $JUSTICE says so, and why.
- Applications close at 23:59 UTC on the last day of February, May, August and November. The vote opens at 00:00 UTC on the 7th of the following month, leaving at least 6 days of discussion.
- All of a round’s applications go into one Snapshot vote with approval voting, plus a “None of these” option for holders who want to take part without backing anything. Holders tick every application they support. A round can hold up to 19 applications, the most Snapshot allows alongside “None of these”.
- An application is funded only if its support is more than half of the voting power cast in the round. Snapshot counts each wallet once in that total, so anyone can check it on the results page. Funded applications are paid in order of support until the budget is used up.
- If a round doesn’t reach quorum, nothing is approved and the budget carries forward.
- No single grant may take more than half of a round’s budget.
- So votes are held in March, June, September and December. For the first round, applications open when this proposal passes and close at 23:59 UTC on 30 November 2026, and the vote opens at 00:00 UTC on 7 December.
Urgent requests
For something that has just happened and needs help now, a request can go to a vote of its own without waiting for the next round, if:
- the event happened within the last 30 days, and
- waiting for the next round would make the help much less useful, and
- it passes the mission test.
It is marked [Urgent] on the forum, discussed for at least 48 hours, then put to a For/Against vote. An urgent grant can be at most half of the budget available at that time, and what it uses comes out of the next round’s budget. It follows the same payment rules, and if it is paid in ETH, it counts toward the next round’s ETH limit.
Payment
- Grants are approved in ETH. After the vote, the signers sell the matching amount of wstETH for $JUSTICE through CoW Protocol, in equal parts over at least 3 days. The price is capped by the same two limits as AIP-20: no more than 115% of the 7-day volume-weighted average price, and no more than 4 times the treasury’s ETH per $JUSTICE.
- This proposal authorises the Safe settings these purchases need, such as the fallback handler for CoW orders, for each round’s purchase only. They are restored when the purchase ends.
- If a capped purchase doesn’t fully fill, the unsold wstETH stays in the Safe. The grants it was for stay approved: recipients receive what was bought, and the rest is bought and paid with the next round’s purchase.
- Each recipient receives $JUSTICE in proportion to their approved ETH amount, at the average price of the purchase.
- A recipient that can’t accept $JUSTICE, for example an organisation whose rules only allow ETH, can ask in its application to be paid in ETH. Holders see this when they vote.
- Grants paid in ETH can take at most a quarter of a round’s budget. If the ETH requests in a round go over that, those with the least support are offered $JUSTICE instead, or can apply again in the next round.
- Recipients without an Ethereum address can’t be paid under this proposal yet. Reaching them would need a registered entity or partner, which is a matter for a later AIP.
- Before signing, the signers check each named recipient and receiving address against the sanctions lists that apply to them, and keep a record of the check.
- As AIP-15 requires, execution starts within 72 hours of the vote closing. Every transaction is posted on the forum before it is signed.
Reporting
- Recipients report on the forum within 90 days of payment: what was done and how the grant was used.
- A recipient who doesn’t report can’t apply in later rounds.
This proposal can be amended by a later AIP.
4. Voting options
- For
- Against
- Abstain
(Approval voting is set for the whole space, so please tick only one option.)
5. Implementation
Discussion until 31 October 23:59 UTC. Uploaded to Snapshot on 1 November 00:00 UTC, together with AIP-21; the vote opens on 2 November and closes on 4 November. $JUSTICE-weighted.
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中文
1. 摘要
AIP-20 质押了 59.65 ETH，并规定在持币人选定使命之前，质押收益留在永续基金中。持币人已经选定了和平。本提案规定这些收益如何使用：资助符合使命的工作，由持币人每季度集中投票决定，以 $JUSTICE 发放，ETH 作为有限的例外。本金永不动用。
2. 动机
目前收益规模不大，按现在的收益率每年约 1.3 ETH（头 15 天为 0.056 ETH）。随着国库更多资金投入使用，收益会逐步增加。如果每一笔资助都单独上 Snapshot，每次都要为这样的小额凑够法定人数。每季度一次投票、一次覆盖所有申请，既让持币人做决定，又不会让大家疲于投票。
以 $JUSTICE 发放，意味着每一轮的大部分资金同时也是一次 $JUSTICE 买入，受助者也会成为持币人，在资助自己的 DAO 里拥有发言权。有些团体无法接收 $JUSTICE 这样的代币，他们可以申请改收 ETH，但每轮最多占预算的四分之一。
3. 提案详情
预算
- 本金是依 AIP-20 质押的 59.649856 stETH，永不动用。
- 每一轮的预算，是 Safe 中 wstETH 的 stETH 价值，减去 59.649856 stETH 本金，再减去已批准但尚未发放的资助。资助通过卖出这些 wstETH 发放，所以已发放的金额已经反映在余额中。未用完的部分留在基金中，用于下一轮。
- 如果之后的 AIP 质押更多国库资金，或将流动性仓位手续费等其他收入划入永续基金，这些收益同样计入此预算，适用相同规则。
谁可以申请
- 任何人都可以申请，只要所做的工作通过 AIP-21 的使命检验。
- 不资助政党、竞选活动、候选人或政府。
- 签名人、共识单元成员及其关系密切的人可以申请，但必须在申请中说明；签名人不签署付给自己的款项。
季度轮次
- 申请发在论坛上，写明：谁接收资助、用途、以 ETH 计的金额、接收款项的以太坊地址，以及如何报告。如果申请以 ETH 而不是 $JUSTICE 收款，须写明并说明原因。
- 申请在每年 2 月、5 月、8 月、11 月最后一天的 23:59 UTC 截止。投票在下个月 7 日 00:00 UTC 开始，保证至少 6 天的讨论时间。
- 一轮的所有申请放进同一个 Snapshot 认可投票，另设"以上都不资助"选项，供想参与投票但不支持任何申请的持币人选择。持币人勾选所有自己支持的申请。加上"以上都不资助"，Snapshot 每次投票最多可容纳 19 个申请。
- 一项申请只有获得超过本轮已投投票权一半的支持，才会获得资助。Snapshot 在这个总数中每个钱包只计一次，任何人都可以在结果页上核对。获得资助的申请按得票从高到低发放，直到预算用完。
- 如果一轮投票未达到法定人数，则不批准任何申请，预算转入下一轮。
- 单笔资助不得超过当轮预算的一半。
- 因此投票在每年 3 月、6 月、9 月、12 月进行。第一轮的申请从本提案通过时开放，至 2026 年 11 月 30 日 23:59 UTC 截止，投票于 12 月 7 日 00:00 UTC 开始。
紧急申请
对于刚刚发生、急需介入的事件，可以不等下一轮，单独投票，条件是：
- 事件发生在过去 30 天内；
- 等到下一轮，援助的作用会大打折扣；
- 通过使命检验。
在论坛上标注 [Urgent]，讨论至少 48 小时，然后进行赞成/反对投票。一笔紧急资助最多为当时可用预算的一半，所用金额从下一轮预算中扣除。紧急资助适用相同的发放规则；如果以 ETH 发放，计入下一轮的 ETH 上限。
发放
- 资助以 ETH 计价批准。投票结束后，签名人通过 CoW Protocol 将相应数量的 wstETH 换成 $JUSTICE，至少分 3 天等额买入。价格受与 AIP-20 相同的两道上限约束：不超过 7 日成交量加权均价的 115%，且不超过国库每枚 $JUSTICE 对应 ETH 的 4 倍。
- 本提案授权这些买入所需的 Safe 设置（例如 CoW 订单所需的回退处理合约），仅限每一轮的买入使用，买入结束后恢复原设置。
- 如果受价格上限影响，买单没有全部成交，未卖出的 wstETH 留在 Safe 中。相应的资助仍然有效：受助者先收到已买到的部分，其余部分在下一轮买入时一并买入并发放。
- 每位受助者按其获批的 ETH 金额，以本次买入的均价折算，收到相应的 $JUSTICE。
- 无法接收 $JUSTICE 的受助方，例如章程只允许接收 ETH 的机构，可以在申请中要求以 ETH 收款。持币人投票时可以看到这一点。
- 以 ETH 发放的资助，合计不超过当轮预算的四分之一。如果一轮中申请 ETH 的金额超过上限，得票最少的申请改为以 $JUSTICE 发放，或者在下一轮重新申请。
- 没有以太坊地址的受助方，本提案暂时无法发放。要覆盖他们，需要注册实体或合作方，留待之后的 AIP 解决。
- 签名之前，签名人须将每一位受助者及其收款地址与适用于签名人的制裁名单进行核对，并保留核对记录。
- 按 AIP-15 的要求，投票结束后 72 小时内开始执行。每一笔交易在签名之前都先发到论坛公开。
报告
- 受助者在收款后 90 天内，在论坛上报告做了什么、资金如何使用。
- 未按时报告的受助者，不能再申请之后的轮次。
本提案可通过之后的 AIP 修订。
4. 投票选项
- 赞成
- 反对
- 弃权
（整个空间设置为认可投票，请只勾选一个选项。）
5. 实施
讨论至 10 月 31 日 23:59 UTC。11 月 1 日 00:00 UTC 与 AIP-21 一同上传至 Snapshot，投票于 11 月 2 日开始、11 月 4 日结束。按 $JUSTICE 加权。