How Gitcoin 2.0 Could Someday Help Reward People for Doing Good - Ep. 624
Mar 26, 2024
auto_awesome
GM Meg Lister and Co-founder Kevin Owocki discuss Gitcoin's evolution to a decentralized protocol. They delve into quadratic funding, retroactive public goods funding, and future concepts like private voting systems. The goal is to create a capital allocation infrastructure for communities. They address sybil attacks, scaling Ethereum, and innovative funding mechanisms like conviction voting.
Gitcoin 2.0 enables decentralized capital allocation for EVM ecosystems to fund public goods.
Different funding mechanisms like quadratic funding and retroactive funding enhance community project support.
Transition to a decentralized DAO governance model ensures credible neutrality in public goods funding.
Deep dives
Decentralized Capital Allocation for Public Goods
Introducing a vision for decentralized capital allocation where successful projects enable individuals to volunteer and receive tokenized rewards for community service without worry. The shift from a centralized to decentralized structure in GetCoin 2.0 aims to empower any EVM-based ecosystem to fund its public goods. This transition signifies a move towards a decentralized protocol to cater to various communities' needs.
Emergence of Varied Funding Mechanisms
GetCoin 2.0's adaptation of different funding mechanisms such as quadratic funding, retroactive public goods funding, and conviction voting highlights the plethora of options for funding community projects. These strategies are designed to democratize capital allocation by allowing communities to support what matters to them through various mechanisms tailored to different project needs.
Transition to Decentralized Governance
The evolution from a centralized entity to a decentralized DAO governance structure in Bitcoin exemplifies the commitment to credible neutrality for public goods funding. This transformation involves decentralizing governance, tech infrastructure, and legal frameworks to align with the core principle of credible neutrality. The GetCoin Foundation, comprising members elected by the community, serves as a key element in overseeing this shift.
Building on Top of Aloe Protocol and Governance Tokens
Various teams are utilizing Aloe Protocol for different applications, such as streaming quadratic funding and hyper certs. The Grants Lab team is highlighted for their serious stewardship in shaping Aloe Protocol's future. GTC was created as a governance token supporting compound-style governance where token holders can delegate their voting power to stewards actively participating in the decision-making process.
Future of GetCoin and Capital Allocation Systems
GetCoin envisions a future where volunteering and community involvement are rewarded with tokenized incentives. The goal is to establish a capital allocation infrastructure that funds projects of societal importance globally. As more assets come on chain, opportunities for private voting and diverse capital allocation systems, like angel investing 2.0 and impact attestations, may reshape traditional funding models, leading to broader community participation in supporting public goods.
In this episode, Laura interviews Meg Lister, GM of Grants Labs at Gitcoin, and Kevin Owocki, co-founder of Gitcoin.
They discuss the evolution of Gitcoin from a centralized platform to a decentralized suite of protocols, Gitcoin 2.0, which allows any Ethereum Virtual Machine (EVM) based ecosystem to fund its public goods. They also talk about the various funding mechanisms available, including quadratic funding, retroactive public goods funding, and conviction voting.
The team is also exploring more futuristic concepts such as private voting systems, angel investing 2.0, and impact attestations. The ultimate goal for Gitcoin is to create a capital allocation infrastructure that funds what matters to communities, whether they are towns, states, countries, or online interest groups.
Show highlights:
Kevin's background and how he came to found Gitcoin and why Meg joined the company
The differences between Gitcoin 1.0 and 2.0
What quadratic funding is and why it is important in the blockchain ecosystem
The problem of sybil attacks and how Gitcoin Passport aims to solve it
Why Gitcoin has changed its approach to put more focus on scaling Ethereum rather than other types of grants
How Gitcoin is trying to solve capital allocation efficiency with Allo (Capital Allocation) Protocol
What streaming quadratic funding is and how it differs from traditional quadratic funding
How retroactive public goods funding (RPGF) works
What conviction voting is and how it addresses some of the current problems in DAOs
Which projects are using Gitcoin Passport and what for
Why Gitcoin is so focused on the Ethereum ecosystem and whether they will launch in other chains
What the purposes of the GTC token are and how it could become a flywheel for Gitcoin
How Gitcoin can become sustainable long-term, since it's free to use at the moment
The features that are coming down the line for Gitcoin, including privacy and onchain "angel investing"
What the future could look like if Gitcoin succeeds in its mission, according to Kevin