Public Goods Funding

The Race to the Bottom

kyle weiss, ED Gitcoin Foundation

Agenda

You’re invited to join us

• Gitcoin and our learnings�
• Funding over the years�
• The race to the bottom�
• Coordination over competition

Gitcoin

In a nutshell

• Gitcoin was founded in 2017 with the goal of enabling builders of open source software to be fairly compensated for their work
• In 2019 after the work of Glen, Vitalik and Zoe we shifted our Grant product to leverage the Quadratic Funding mechanism

• Today we operate multiple protocols to enable communities to fund and protect what matters to them

Fund What Matters

• Gitcoin creates solutions that empower communities to fund, build, and protect what matters. �

​

​

• Gitcoin Grants Stack–our end-to-end grants solution�
• Allo Protocol–our open-source funding protocol�
• Gitcoin Passport–our decentralized identity management tool.

​

OUR CORE PRODUCTS INCLUDE

Funding Lifecycle

Grant making is often genesis

​

Community led, QF is midway

​

Oracle led, RPGF is late stage

Gitcoin has raised over $50MM+ for Public Goods funding*

* As of April 2023, excluding bounties and hackathons

​

270k

Unique Supporters

​

​

Gitcoin has raised over $50MM+ for Public Goods funding*

* As of April 2023, excluding bounties and hackathons

The Breakdown

• Checkout Donations to the Matching Pool $1,255,490.00 2.37%
• Matching Partners $15,382,568.00 28.98%
• Community/Altruistic Contributions (crowdfunding) $21,945,947.00 41.34%
• Dog Tokens (Akita) $11,000,000.00 20.72%
• NFTs (GreatestLARP, MoonshotBots, Metalabel) $3,500,000.00 6.59%

​

• Total $53,084,005.00 100%

​

Impact Needs to be Self Evident

Funding is not the default

Lots of conversations

​

Competing interests

​

Bear market vibes

​

Constantly asking

Scarcity

Mindset

We are in a race to the bottom

What does that mean?

THE BOTTOM

• Duable, Continuous funding sources
• As close to value capture mechanism as possible

• Always on, by default
• Pluralistic and abundant

Ideas and Options

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Curabitur placerat tincidunt ipsum. Integer hendrerit risus purus.

Aqueducts

�Sequencer Fees

(rejected EIP)

�Yield from gtcETH, GLOW, etc.

​

As close to the source as possible

Our Collective Impact is

Self Evident

Where does competition help?

OUTCOMES

• We push each other to be better
• We build durable mechanisms through user choice

• No King making
• Pluralistic and humble

Coordination

• We need more coordination at the base layer �
• We have the opportunity to define and build new mechanisms for durable, always on funding�
• This is the week we can put the greatest minds together and buidl

Thank you