Gitcoin Grants: $50K Open Source Fund
Using Liberal Radicalism to direct $50K to Ethereum infrastructure projects
We’re excited to announce our 2nd round of experiments with Liberal Radicalism. We have $50,000 to support 42 well known Ethereum projects, and we need your help to help us direct this capital.
Liberal Radicalism (otherwise known as ‘CLR’) is the matching algorithm to determine where the $50K will go. Instead of matching $1 for $1, CLR determines matching based on the square of the sum of the square roots of contributions received.
In practice, this formula values many small contributions to a project over a few big ones, and thus helps ensure that every donation matters a lot — no matter the dollar amount.
Experiments With Liberal Radicalism
A crowdfund matching mechanism for public goods, like open source
Results From Round One
Last round (2/1–2/15), our $25,000 pool was matched with $13,242 in contributions from the community across 126 unique contributors.
- The top three projects in matching funding for this round were Prysmatic Labs, Moloch DAO, and Uniswap
- The top 10 projects all received over $1,000 in matching donations from the CLR fund
- A total of $38,242 was contributed to Ethereum OSS infrastructure in two weeks
Goals For Round 2
Round 2 has $50,000 will accept a longer matching period from from March 5th through April 19th. Any contributions made during this six week period will be used to direct the $50,000 match.
Given a longer runway and a larger match, we have bigger goals for this period.
- $25,000+ in community contributions towards these 42 projects
- 200 unique contributions by Ethereum community members
- Top 10 projects receiving at least $2,500 in funding, each
Contribute To A Gitcoin Grant Today!
Anyone who contributes will receive a special Kudos, “Radical Contributor,” which will signify their contribution to the matching experiment.
This Kudos is limited to those who make a contribution to a grant.
A big thanks to our sponsors for this round, and we’re excited for more radical results!
To learn more about Gitcoin, click below. We welcome you on our journey to grow open source while changing the way we work.