An Update: Gitcoin Grant Round is now ended and the results have been declared for the same. Gitcoin Grant Round has recorded approxiately $4.9 Million, of which $3.2M came from the combined matching pools and $1.7M was contributed by the community, this will be distributed among 1250 grantees. As of July 15th, grantees will be eligible to claim the matching fund. GR14 has booked a new record, more than 44k contributors have contributed approximately 600k.
Table of Content:
- What is Gitcoin Grant?
- How to get involved in this?
- What is Quadratic Funding?
- Grant Round-14 Details
- GR14 Hackathon
What is Gitcoin Grant?
Gitcoin Grand is a bounties platform that is open-sourced on the Ethereum blockchain. It gives space that allows open source developers to get paid for their work and also contribute to open-source projects. The Gitcoin Grant Round 14 has been announced and it is live now and it is live till the 29th of June.
How to get involved in this?
There are three ways to involve with Gitcoin.
Funders: People who can donate small capital like $5 - $10 or more for the web3 builders and projects.
Matching Partners: Communities and Organizations that contribute a large sum of capital like $100k+ to support the developer community.
Grantees: Builders or Developers who are looking forward to funding their projects.
What is Quaderatic funding?
Quadratic Funding: Quadratic Funding(QF) is a mechanism by which they will distribute funds based on community participation and with this, the number of contributors matters more than the total amount of funds by the contributor.
Grant Round-14 Details
In GR14, a new record has been created for the most number of contributors on the very first day. As per the official Tweet,
”We just set a new record for the most first-day contributions ever! You all are incredible. For the first time, the contributors has stepped up with over 6,000 contributions on Day 1. With 35 minutes left, let's get 35 more people to donate & hit over 1,000 on the day!”
They have structured Grant Round 14 in three types of rounds:
Main Round: The Main Round includes $1 Million in matching funds. Grants who qualify for matching funding receive funds from Main Round and this is the least restrictive round, Grantees only ensure that their grant is active to be eligible for matching funds. They have set a 2.5% matching fund limit of total main round funds, which means if a grant has received $25k then the grant is no longer eligible for more funding from this round, this is to ensure that the funding will be evenly distributed among the grants.
Ecosystem Round: Ecosystem round is essentially a QF round that focuses on a specific community, theme, or ecosystem. This round includes improving user experience, growing the community, improving developer experience, and building tools and enhancements for governance. There are 13 ecosystem round partners of which 8 partners are new and 5 returned from previous. Over $1.1 Million will be distributed to hundreds of builders.
Cause Round: Cause Round focuses on the impacts that are created and they have divided the cause round into 3 different rounds:
- Climate Solution: This round is a testing ground for big ideas that can be impactful for the world and an opportunity for cross-pollination. This round is an opportunity for projects that are innovative from all over the Globe.
- Crypto Advocacy: This round focuses on building support for the progress of the organization at forefront of crypto policy as crypto becomes a bigger issue on the global stage, this round is quite important.
- DEI (Diversity, Equity, and Inclusion): This round is a collective effort to help grow and advocate for Diversity, Equity, and Inclusion in the Web3 Community.
We are happy to share that EtherWorld team is also participating in the GR14 and you may support us by donating as low as 1 DAI here.
Gitcoin is running Hackathon along with Grant Round. Non-Developers who want to participate can also participate in this, there are several events like writing documentation, project manager, designing, and many more.
Grant Round 14 is live till the 29th of June and anyone interested in participation can participate in the event before that.
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