- What is Gitcoin Grants?


Gitcoin Grant is an experiment where people can fund their open source projects for public benefit with CLR matching contributions from Gitcoin’s CLR Fund sponsored by donors in the Ethereum ecosystem. It allows anyone to fund any grant with as little as 1 DAI( = 1 USD) and helps developers to get recurring cashflow for working on open source projects that deliver additional value to the ecosystem.

* How do I maximize my gitcoin grants impact?

The 1st step to make a great impact through your gitcoin grant is to convince as much people as you could, no matter how much the contribution will be because the CLR mechanism is a proposal for turning your small donations into something much larger.

By donating with one to one matching, you increase the power of any single donation in direct proportion to the size of the donation, your money is having a huge impact.

Gitcoin Grants attaches great importance to the number of contributors which are more crucial than the amount, if you could convince people by the originality and public benefit of your project then even with 1 DAI contribution the matching will be very high. so the main issue that you should take into consideration is the large number of people helping you realizing your project. The more individuals support your idea the more the impact is larger.

**Why should I contribute to grants?

The beautiful part about this initiative is that it is entirely community-driven. There are no favorites and grant proposals with the most community support (in terms of the number of contributors) will receive the largest portions of the matching pool. By consequence, your contribution does matter and the more people are engaged in a project the more this project will receive in terms of subvention. In other words, if you wish to support an idea even with 1 DAI you will contribute to maximise the funding. Your contribution has a huge impact and it is more valuable than you think. By making an individual donation, you contribute to a public good. This funding is guaranteed to be met by matching funding, widening the reach of your donation. If 10 persons contribute by 1DAI (= 1 USD) the CLR matching will be higher than if only 1 person is contributing by 10DAI or 2 persons by 5DAI. So yeah your contribution is more valuable than you think. Your money is having an impact.

***How does CLR work? Why is it powerful?

The CLR matching is a tool to grow up & sustain the open source in a world where open-source code is rarely incentivized, one of the more powerful tools of Gitcoin is that of Gitcoin Grants with CLR matching, it allows anyone to fund any grant with as little as 1 DAI. the CLR mechanism is a concrete proposal for turning your small donations into something much larger. It requires a simple formula to achieve this goal.

1/ Crowdfund individual donations towards open source projects: As mentioned above, the 1st step towards achieving your target is to convince as much people as you can, no matter the amount of contribution here because the number of persons supporting your project affect directly the sum of CLR matching. Remember that 1 DAI from 10 persons is more valuable than 10 DAI from 1 person or 5 DAI from 2 persons

2/ A match from governments, grant programs, or private philanthropists ( offered by sponsors/donors for the grant's round fund) is a total amount received from the sponsor of each round, for exemple Round 1 the initial pool was $25,000 from the Ethereum Foundation, ConsenSys, and a few other prominent individuals. In Round 2, Gitcoin Grants bumped up the total matching pool to $50,000 to support a total of 42 well known Ethereum projects. The third Gitcoin Grant CLR round featured a $100k matching pool directed towards 65+ open source projects listed on Gitcoin Grants, and the last 4th round has just closed with the distribution of $200k.

Can I edit accepted assets on a grant after it's deployed?

The answer is No. A new contract will have to be deployed as the Grant's contract cannot be mutated. However, all history and grant contributor information can be migrated once the new one is up.