Ethers.js raised over $500,000 from Gitcoin Grants rounds, transforming from a side project into one of the most essential tools for Ethereum developers worldwide. From modest beginnings in GR1 with $3,000 to +$90,000 by GR14, RicMoo's lightweight JavaScript library has become a key player in the Ethereum ecosystem—due in no small part to community support and Gitcoin's unique funding model.
If you’re an Ethereum developer, chances are you’ve used Ethers.js—the lightweight, developer-friendly JavaScript library that powers everything from decentralized applications (dApps) to interacting with smart contracts. But did you know that the project financed itself entirely through grants?
Ethers.js has run in every single Gitcoin round from GR1 to GG20. From the first Gitcoin Grants round in 2019, where they raised just over $3,000, to their most successful run in GR14, which brought in $93,963, here’s how it went down:
RicMoo didn’t start Ethers.js with the intention of creating a massive project. He got involved in the Ethereum ecosystem during his time working at Decentral, where he was building one of the first in-browser Ethereum wallets. This experience gave him early exposure to Ethereum development and its challenges. By 2018, he was frustrated with Web3.js, the library most developers used for interacting with the Ethereum blockchain. So, he built something more usable for himself: Ethers.js.
“Web3.js was big and heavy, and it wasn’t exactly user-friendly. I wanted something smaller, simpler, and easier to use,” Ric shared.
What started as a tool for his own projects soon caught the attention of other developers, especially those attending Ethereum meetups in Toronto.
"I shared Ethers.js with a few friends, and it just took off. I still don’t know how it spread as fast as it did,” -RicMoo
Word spread, and before Ric knew it, Ethers.js was being used by Ethereum developers across the globe.
Despite its growing popularity, Ric wasn’t making money from Ethers.js. Like many open-source developers, he was scraping by on side gigs (and ramen). But that changed when Scott Moore convinced him to submit Ethers.js to Gitcoin Grants.
"I didn’t think Gitcoin would work," he admitted. "I’d been doing open source for so long and had never made a cent. I didn’t think people would actually pay for it." But he gave it a shot anyway, and in his first Gitcoin Grants round, Ethers.js raised $3,000.
“That $3,000 literally financed my ramen for months,” RicMoo joked. “Eventually, I could even upgrade to real food.” The money allowed him to keep working on Ethers.js full-time.
In the GR8 round, Ethers.js raised $53,000, and by GR14, RicMoo raised an incredible $93,963.
“That first $3,000 had already changed my perspective, but when I raised that amount, it was a whole new level. Suddenly, I realized I could focus on Ethers.js full-time.” -RicMoo
Today, Ethers.js continues to grow, both in terms of users and functionality. RicMoo is considering a version 7 release but is hesitant. "People are still using V5, even though V6 came out two years ago. It makes me hesitant to push a new version, but it’s something I’m working on," he said.
His latest project, Firefly, aims to create an open-source hardware wallet that’s mass-produced and distributed for free. "The idea behind Firefly is simple—make secure, easy-to-use hardware wallets and give them away for free." With community support, he hopes Firefly will have the same impact on crypto security that Ethers.js has had on development.
Open-source development is the foundation of innovation in the blockchain space. Gitcoin’s support not only enables projects like Ethers.js to thrive but also empowers developers to stay focused on what they love—building the future. The Gitcoin Quadratic Funding model allows every donation, no matter how small, to multiply in impact, proving that a community-backed project can thrive without needing venture capital. The community backing also created a sense of accountability for RicMoo. “When people are donating their money—even if it’s just a dollar—it makes you want to deliver. It’s a good kind of pressure,” he shared. This accountability pushed him to keep improving Ethers.js, knowing that people were counting on him.
“I’m a developer first, and Gitcoin lets me stay that way. I don’t have to worry about raising VC funds or managing a company. I can just focus on the code.” - RicMoo