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Sigh... back to the Ethereum mainnet after a long drive today... well, this morning's events will be a topic for a different post, but for the moment, I'm on the crypto end of things. Trying to squeeze in an Ethereum/Gitcoin donation right before going on stage for a concert.. probably not the best idea, but I figure that if I don't just do it now, then it will drop out of my mind.
So, the Grand Crowdfunding for Gitcoin is currently in the 15th iteration... and will end on the 22nd of September. There are always projects for crowdfunding, but this is one of the big rounds, and it includes matching funding from the Gitcoin pot.
So, we are back to the idea of public goods... and who should and will fund these things that we all use. It is the typical tragedy of the commons problem... we all need to use these things, but where does the funding come from. Well, a lot of the scammier projects made sure to launch a token and then cash out, but that isn't really a long term sustainable model. Gitcoin follows the open-source model where various altruistic users will help crowdfund projects... partly out of self-interest (using and needing these projects, dApps, protocols... and more recently as requirements for rewards) and partly out of a general reinvestment into the public infrastructure.
After all, if we have the infrastructure, we will all hopefully rise up! Without it, we will have private actors owning and building and maintaining the infrastructure, whilst extracting rent from the rest of us.
So... I was a bit in two minds about when to do this... before the Merge or after the Merge? I really wanted to get this down and out of the way as soon as possible... but the Merge was imminent... and I really should leave transactions to wait until after the Merge, when things have had time to settle down and stabilise. However, I really really really hate having things undone and waiting around taking up space in my head...
... so, I figured I would just get the bloody thing done right now. Plus, gas fees were sitting low at 8 gwei... so, it would be easy to just push a transaction through and have it accepted without it being prohibitively expensive.
Now, one of the best things about the Gitcoin grant rounds is the matching funding from the Gitcoin pot. The actual weighted amount of matching depends on the linked wallets "trust" factor, which is a function of past Ethereum behaviour, "IRL" linkages, and other linked accounts. Each factor has a number of contributing weightings, and eventually you end up with a "trust" score which will determine the weight of the matching funding from Gitcoin.
For me... I have the maximum 150% matching funding, which is always a nice thing to have! But it does mean that I have the a good multiplying factor when it comes to donating to projects.
After perusing the various projects on offer, I did end up supporting 4 Ethereum/L2 projects.... as per usual, these were less specific dApps, and more along the lines of infrastructure projects... ones that would be beneficial to everyone transacting and working in the Ethereum ecosystem. I am definitely of the opinion that without these critical infrastructure pieces, we are dead in the water. Everything else built upon them... well, they are essentially interchangeable...
I can also be found cross-posting at:
Publish0x
Handy Crypto Tools
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