ProgPow Audit Funding Update

The Ethereum Cat Herders ran a fundraising campaign previous year to raise funds for the ProgPow audit. While this fundraising was happening, Gitcoin, the platform on which the Cat Herders collected contributions, was running a CLR matching experiment. In short, this means that Gitcoin supplemented the community contributions based on not only the amount raised, but the number of contributors. Because of this, the audit fund got a large CLR match from Gitcoin, resulting in an excess of funds over what was needed to pay for the audit.

Once the audit was released and paid for, the Cat Herders noticed the leftover funds. We reached out to the largest contributors to the audit, Bitfly, Atlantic Crypto & the Ethereum Foundation, to ask them if they would agree to have the individual community members who had contributed to the audit be refunded first, and have the excess from that split amongst them.

Not only did they agree to that, but all three organizations also agreed to use the rest of their funds to donate to various Ethereum community initiatives, the Cat Herders included, either directly or via Gitcoin!

Yes, you read that right: every individual who had contributed to the ProgPow audit got a full refund, *and* now several Ethereum community initiatives will receive additional funding, many thanks to Gitcoin’s CLR match and the generosity of Bitfly, Atlantic Crypto & the Ethereum Foundation. Needless to say, the Cat Herders are thrilled by this outcome and cannot wait to see which other community initiatives get funded!

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Ethereum community-led project management

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Tim Beiko

Tim Beiko

Working on Ethereum

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