Gitcoin Grants is an experiment where people can fund their open source projects for public benefit with QF (Quadratic Funding) matching contributions from Gitcoin’s QF Fund sponsored by donors in the Ethereum ecosystem.
Gitcoin, with the support of the Ethereum Foundation and other matching partners — to run at least quarterly rounds in 2020, with a planned 4 QF rounds. The hope is the regularly scheduled rounds will help grantees use these funds not only as additional donations, but as a strong source of funding for their operations in the Ethereum community. A rough schedule for the rest of the year is below.
Read about the gitcoin grants launch via this post: https://medium.com/gitcoin/experiments-with-liberal-radicalism-ad68e02efd4
Gitcoin Grants is focused on public goods.
are all examples of public goods. To learn more about public goods checkout https://en.wikipedia.org/wiki/Public_good_(economics)
By making an individual donation, you can have a huge impact on a public good.
Contributions of 1 DAI can sometimes mean up to 400 DAI in matching.
Your contributions will be met by matching funding, widening the reach of your donation. If 10 persons contribute by 1DAI (= 1 USD) the QF matching will be higher than if only 1 person is contributing by 10DAI or 2 persons by 5DAI.
TLDR - Your contribution is your vote, and it's more valuable than you think. Your money is having a real impact on Gitcoin Grants.
Try to get contributions from the broadest possible audience. In the past, grants that have had 100s of contributors in one round have generated over $10k in funding.
The QF mechanism is a concrete proposal for turning your small donations into something much larger. It requires a simple formula to achieve this goal.
Crowdfund individual donations towards open source projects (try to have the maximum of contributors, it's the number of participants that counts not the amount of contribution) . 2- A match from governments, grant programs, or private philanthropists ( offered by sponsors/donors for the grant's round fund).
Read more about QF here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3243656
The QF Mechanism measures the breadth of contributors, not the depth of contributions - which is a very democratic funding model. QF pushes power to the edges of the network. Economist Glen Weyl has called QF the 'optimal way to fund public goods that a broad base of population cares about.
You can use the 'flag' feature to report that grant to our open dispute bot - https://twitter.com/GitcoinDisputes
From there, if the community feels strongly that this grant is not a public good, Gitcoin may ask the Grant owner to update their grant or remove the grant from the matching pool.
We hope to decentralize this process in the future.
For more on this, see https://twitter.com/owocki/status/1217993123311177728
If it is in the media round, you can use our new negative voting feature to cast a vote against this grant.
Here are the attributes of both funding types:
Positive - I want to support this Grant. - Grant Contribution on Gitcoin's site will be Public. - Contribution will go to Grantee. - Matching Funds will go to Grantee.
Negative - I want to inhibit this Grant. - Grant Contribution on Gitcoin's site will be Private. - Contribution will go to Matching Pool. - Matching Funds will be deducted from Grantee.
The QF formula is quite elegant, but its also a bit performance intensive. We will be updating the match estimates ~ every 5 minutes during this round.
Open up a github issue at https://github.com/gitcoinco/web/issues/new/choose
More on our anti sybil growth strategy here https://twitter.com/owocki/status/1273458452900151296
Our mission is to Grow Open Source - See more at https://gitcoin.co/mission
We want to create new information age native institutions to fund public goods.
Introduce yourself on https://gitcoin.co/chat or https://gitcoin.co/townsquare
Also checkout https://gitcoin.co/products
You can use this public endpoint which is a read-only list of all Grant Names & Ethereum Addresses : https://gitcoin.co/grants/grants.json
Also checkout these docs on the smart contract architecture of Gitcoin Grants: https://github.com/gitcoinco/web/blob/master/docs/GRANTS.md
Any contribution that can be converted to USDT will be matched during an active match rounds. It will be matched as from a new unique contributor proivded
We define collusion per the CLR Paper ( https://arxiv.org/pdf/1809.06421.pdf ) as
" The central vulnerabilities of LR, as with other mechanisms designed based on the assumption of unilateral optimization, ared collusion and fraud. Collusion takes place when multiple agents act in their mutual interest to the detriment of other participants. Fraud takes place when a single citizen misrepresents herself as many. "
We define a sybil attack ( https://en.wikipedia.org/wiki/Sybil_attack ) per
" In a Sybil attack, the attacker subverts the reputation system of a network service by creating a large number of pseudonymous identities and uses them to gain a disproportionately large influence. It is named after the subject of the book Sybil, a case study of a woman diagnosed with dissociative identity disorder. "
More on our anti collusion growth strategy here https://twitter.com/owocki/status/1273458452900151296
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