$360K+ matching in Gitcoin Grants Round 7! Contribute today!
To the Ethereum community,
Gitcoin Grants Round 7 is here. It is live now — running for 2.5 weeks from September 15, 2020 to October 2nd, 2020 @ 5PM MST.
This will be our biggest round yet, with matching commitments that are at least $360k – our largest round yet! If you haven’t created a grant yet, now’s your chance!
This round wouldn’t be possible without the support from everyone reading this, but we’d like to give a special shout out to several of our sponsors that are making this landmark round possible, ordered by contribution size:
- $155k from yearn.finance
- $150k from the EF
- $50k from @DefianceCapital & Three Arrows Capital
- $50k from #FerretPatrol
- $10k from @banteg
- $10k from Mariano Conti
These contributions to public goods mean a lot to us, and to the broader Ethereum community.
It’ll focus on a better mobile experience via Status Wallet, making donations even easier to complete. Status will also be contributing money to future CLR rounds as well, so definitely stay tuned for additional announcements!
Ultimately, with continued contributions and feedback from the community, we’re excited to continue building infrastructure that can support larger rounds and more unsung maintainers. The roadmap to Round 15 is coming together well…
Gitcoin Grants R7 Improvements: Scalability & Identity
Layer 2 Integration w/ zkSync
In Gitcoin Grants Round 6, we added a cart functionality that made it much easier to checkout contributions to multiple grants. This allowed you to fund x grants in one transaction, which was an awesome improvement for people who want to support many projects.
However, if you were donating to a lot of grants, gas transaction fees got high — and they’ve only gotten higher since then in Ethereum.
For Round 7, we’ve added an option to use zkSync, a lower-cost way to make contributions to multiple grants.
When should I use zkSync?
ZkSync shines when you have a big cart full of grants (at least 5), because the protocol allows you to pay a fixed price for n number of transactions.
If you have five or fewer items, going through the normal checkout process should work just fine. Don’t fret though, we’ve added a handy indicator during the checkout process to help you make the correct determination.
Here’s a comparison of L1 versus zkSync with multiple items in a DAI-only cart. You can see at a certain number of items, it becomes much more gas efficient to use zkSync.
To use zkSync, we ask you to login to a “Gitcoin zkSync” account. This account is created by asking you to sign a different message from the regular zkSync message, and this gives us an L1 account where the Gitcoin app has the private key. Gitcoin can then use this account to send transfers without prompting you for each transfer! Because it does not permanently hold funds, there is no additional security risk.
If you do decide to try zkSync, there is a fixed cost to move tokens onto L2. Once you use zkSync, payments and distributions to grant owners all occur on L2, and transfers are instantaneous and close to free. We will also give you the option to transfer additional funds to your L2 account beyond just your donations so you can have extra funds on zkSync for other uses!
Based on the items in your cart, we check your zkSync balances to see if you already have enough funds on zkSync to complete checkout. If you do, the checkout flow is as follows:
- Sign a message to login to your Gitcoin zkSync account.
- Sign a message to login to your regular zkSync account.
- Sign a message to transfer funds from your regular zkSync account to your Gitcoin zkSync account.
If you do not have enough funds in your zkSync account to complete checkout, the flow is as follows:
- Sign a message to login to your Gitcoin zkSync account.
- Confirm one transaction for each required ERC20 approval (~25k–50k gas).
- Confirm one transaction to deposit funds into zkSync (~180k–200k gas).
If you are only donating with one token, funds are deposited directly to your Gitcoin zkSync account. To ensure your deposit is not reverted, it takes 10 confirmations for your deposit to be accepted by zkSync and all transfers of funds are executed. Any leftover funds in the Gitcoin zkSync account are transferred back to your regular zkSync account.
If you’re a Grant Owner…
Funds from L2 donations can be accessed at https://wallet.zksync.io/. If you want to withdraw them to L1, here’s how:
- Visit https://wallet.zksync.io/ and connect your wallet.
- Click “Withdraw”.
- Enter the destination L1 address in the “To Address” field.
- Select a token to withdraw and enter an amount.
- Click the withdraw button to send the withdraw transaction. Funds should arrive in your L1 wallet within 15 minutes, but it could be as long as 3 hours.
If you are unable to connect your wallet, or have a contract wallet, please contact zkSync at email@example.com for assistance.
Decentralizing Identity: Twitter + BrightID
Twitter Verification For Grant Creators
A simple update for grant creators is a requirement to verify your Twitter identity if it’s referenced in your Gitcoin Grant.
This ensures you are indeed the owner of the brand you are representing as a grant creator and ideally, helps you reach your grant contributors. Keep your DM’s open to foster serendipity during the round!
BrightID Verification For Grant Contributors
In Gitcoin Grants Round 6 your CLR match contribution was influenced by SMS verification. Those who verified would have a slightly higher multiplier associated with their match.
For Round 7, we’ve included BrightID as additional verification method for contributors. Getting verified through SMS or Bright ID will allow your contribution to have higher weight within the CLR matching formula.
- Bright ID + SMS Verification: 1.4x
- Bright ID: 1.2x
- SMS Verification: 1.05x
- No Verification: 1.0x
BrightID verification is a social identity network that aims to prove your unique identity.
Because there’s a social aspect to it, it requires some time to meet other Ethereum members and garner quality connections that help prove that you are indeed a unique human. Let’s run through some of the details.
Here’s the steps to get started:
- Once you’ve created your account, connect your account with Gitcoin and begin forming connections.
- Migrate over to https://gitcoin.co/[your_profile], and click on the “Trust Bonus” tab. When you click “Connect”, a modal will pop up. Hit “New Connection” and “Scan Code” in the BrightID App to scan the code.
- Join A Verification Party. Once the connection is made, you’re at the fun step. Join a Gitcoin Grants R7 Verification Party to help reach a ‘verified’ status. When you click “Verify”, a modal will pop up where you can register and join several pre-planned “verification” parties. The dates are also listed below.
You can make your donation anytime during the round, but as long as you’re SMS or BrightID verified by the close of Gitcoin Grants Round 7, all your contributions will retroactively receive the multiplier benefit.
We’ll be sending gentle reminders to get your verifications done so that you can achieve the maximum contribution benefit for the grants you wish to support!
Many Experiments To Come!
If you’re having issues with L2 or decentralized identity, don’t be deterred. This is just the beginning, and iterations here join a few other important items on our roadmap.
- Partnering with Status for a mobile first Gitcoin Grants experience.
- Continued interaction between Grant Contributors and Grant Creators
Stay For The Party
We’ll be hosting a variety of events during Gitcoin Grants Round 7 for contributors and grant creators to connect and get to know each other and to answer any questions you have for us. Here’s a starting point.
- Wed, 9/16 at 10:30ET: Scaling Ethereum Towards 2025 🌱
- Fri, 9/18 at 12PMET: Gitcoin Grants Kickoff Party
- Thurs, 9/24 at 8PMET: DeFi & Public Goods,
- 10+ Events During R7: BrightID Verification Parties
- Fri, 10/2 at 12PMET: Gitcoin Grants Wrap Up Party
- 2-3 events to be determined
Each event will include leaders in the Ethereum community and will be centered around great conversations, rather than information. We look forward to seeing you at one of the events.
We hope Gitcoin Grants is the place to help you connect with projects that you appreciate, that you want to give back to, and support. Let’s all grow open source, together. 🌳