Network Funds Allocation
Last Update: February 17th, 2024
The Geo Web's pilot of Streaming Quadratic Funding is live from February 21 to April 21, 2024. Participate a https://geoweb.land/governance
How these funds are best allocated will be a perpetual challenge. There are many exciting ideas to explore and experiments to run.
In order to help maximize open participation in allocation decisions, network funds are initially, exclusively being used to fund matching pools for quadratic matching rounds.
This also limits core contract complexity and the exercise of centralized authority for the Geo Web multi-sig. The signers will simply be responsible for periodically transferring network funds from the Safe to quadratic matching pool address(es) and/or validated distribution contracts which to reflect the voice of the community.
Quadratic Funding Round #1
The first of these protocol-funded quadratic funding rounds was run from July 17th to July 31st, 2023. The round was open to public goods projects and builders in the open-source spatial computing and/or Geo Web ecosystem. It distributed 4 ETH in matching funds across six projects (2 ETH was from the PCO land market & 2 ETH was contributed to the pool by the Geo Web core team via grant funds).
Geo Web + Spatial Computing Public Goods Quadratic Funding Results (aka Geo Web QF #1) - July 2023
- Geo Web Core Contributors - 1.1092 ETH
- PLAY TO LEARN - WTF is Partial Common Ownership - 0.8106 ETH
- Geo Web Security Bounty Program - 0.7704 ETH
- Geo Web Open Contributor Fund - 0.5774 ETH
- Splant - 0.5602 ETH
- Archly - 0.1723 ETH
The Geo Web was the first community to run a self-serve QF round on the Gitcoin Grant Stack. The round utilized a Gitcoin Passport score of >=20 and a minimum donation of 1 USD equivalent as the eligibility criteria for inclusion in the matching calculation. The matching cap for a single grantee was 50% of the pool.
The Geo Web multi-sig reviewed the round results for accuracy with the Grants Stack team before final distribution, but in accordance with their signer responsibilities/commitments did not deviate from the initial matching criteria thresholds.
This resulted in some very nearly eligible contributions (just under 1 USD and/or made by likely unique humans with Passport scores of not quite 20) not being included in the final matching calculation. In the pursuit of better capturing the democratic voice of the community, it may make sense for future quadratic funding rounds to be launched with established, transparent rules to "round up" criteria scores.
Quadratic Funding Round #2
The second quadratic funding experiment run by the Geo Web is launching on February 21st, 2024. It's the first-ever streaming quadratic funding round. This pilot run is a collaboration between Geo Web, Superfluid, and Gitcoin Allo. Results, lessons learned, and anticipated next steps will be posted here after the round. You can participate in the round until April 21st, 2024 at https://geoweb.land/governance.