Quadratic Funding and How Gitcoin Raised $60M for Public Goods - Kevin Owocki
May 10, 2024
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Kevin Owocki, Co-founder of Gitcoin, discusses quadratic funding and public goods funding models in Gitcoin, including the utility of Gitcoin Passport, sybil protection dilemma, capital allocation, GTC token utility, and decentralizing Allo Protocol. The episode covers new allocation models introduced by Gitcoin 2.0, the current landscape of DAOs, and the success of Gitcoin in raising over $60M towards public goods funding.
Gitcoin utilizes Quadratic Funding to decentralize capital allocation for ecosystem initiatives.
Gnosis introduces Gnosis Pay, the first decentralized payment network for self-custody crypto spending.
Deep dives
Building the Ultimate Capital Allocation Engine
Gitcoin aims to create a robust capital allocation engine for ecosystems, enabling the distribution of tokenized treasuries to fund community initiatives.
Challenges of Quadratic Funding
Quadratic funding's strength lies in its ability to decentralize power by encouraging broad community contributions, but it also faces vulnerabilities like civil attacks.
Gnosis and Decentralizing Payments
Gnosis introduces Gnosis Pay, the first decentralized payment network, allowing self-custody crypto spending worldwide with a Gnosis card.
Progressive Decentralization in Gitcoin
Gitcoin's move towards decentralization includes the launch of the GTC token, transferring decision-making power to token holders through the Gitcoin DAO.
5 years, 20 Grants, 3715 projects crowd-funded and over $60M raised towards public goods funding, from 4.2M unique donations. Gitcoin’s headline numbers are indicative of the massive success their quadratic funding (QF) and public goods funding models (PGF) have seen over the years. With Gitcoin 2.0, crowd-funding is further decentralised, Allo Protocol being open-source and permissionless: any ecosystem treasury can create their own Gitcoin Grants program to help their community fund what matters to them.
Topics covered in this episode:
Kevin’s background and Gitcoin’s journey so far
The utility of Gitcoin Passport
Gitcoin Grants sybil protection dilemma
Public goods & capital allocation
Quadratic funding (QF) & retroactive public goods funding (RPGF)
Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io
Chorus One: Chorus One is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one
This episode is hosted by Friederike Ernst.
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