Author: carlosjmelgar
This Gitcoin grants round funds public goods, but also creates an enhanced connection between Grantees and funding partners within the LatAm Featured Round by establishing an eligibility criteria that requires grantees to create educational content, host workshops and adopt 1inch products.
Through collaboration and engagement, we can create a mutually beneficial ecosystem that fosters innovation, education, and adoption. Incentivizing participation through grants will encourage contributors to produce high-quality educational material, further promoting awareness and understanding of 1inch within the Latin American web3 ecosystem. This objective will contribute to the growth and adoption of 1inch while fostering a collaborative and educational environment. This grants round is based on quadratic funding to deploy the initial 50% of matching funds, a month long campaign of workshops, and irl events to measure milestones before distributing the remaining 50% as retroactive funding.
This new format in grant distribution allows round sponsors to directly benefit from funding public goods by incentivizing grantees to build, promote and adopt partner platforms and products. Public Goods funding currently doesn't offer a direct and measurable impact on funding partners. By implementing new mechanics into the Gitcoin ecosystem, we hope to create added value for funding partners. 1inch will directly benefit from funding many of LatAm's leading web3 education and community projects, builders and teams working on regenerative solutions in their region.
This new format combines Quadratic Funding and Retroactive Funding to fund and rewards teams doing work to grow 1inch's presence in the LatAm region.
Receiving wallet: 0x0bbb83Bb947b96d298e972e8Ee7534361B707925
Amount: $27,500
This new format is being pursued to create added value for funding partners because we believe funding public goods is good, but creating impact for partners funding public goods is better. Public Goods funding is still in an experimental phase and we're excited to continuously improve on distribution of grant funding and impact for our partners.
The first consideration is the amount of added work this new format entails. The Gitcoin team will be working with round partners to create relationships with grantees and host community calls to make eligibility criteria clear and provide updates on grantee impact. We will also conduct sybil detection after the round to ensure the QF mechanism isn't being exploited.
Grantee onboarding and support: Communicate the eligibility requirement clearly to potential grantees during the application process. Provide guidance and resources to grantees on how to plan and execute the required activities. Offer support in terms of content creation, workshop facilitation, and adoption assistance.
Activity execution: Grantees, with the guidance of funding partners and round operators, will conduct the workshops, create educational materials, or adopt partner products or platforms according to the eligibility requirement. Round operators will provide hands-on assistance, guidance, and mentorship throughout the process.
Milestone based distribution based on Impact measurement: Establish key metrics to evaluate the impact and success of the eligibility requirement. Measure the number of workshops conducted, educational materials produced, and successful adoptions of partner products or platforms. Collect feedback from grantees, round operators, and funding partners to assess the effectiveness of the initiative.
Amplification from our Ambassadors
TIMELINE:
Active: Define the eligibility requirement, engage with funding partners
August 1st -15th: Grantee application and selection process
August 15th - 29th: GG18 Round
September 1st - 10th: Round review with funding partners and security team
Mid September: Distribute 50% of matching funds
October 1st: Review Grantee Milestones and distribute remaining matching funds
BUDGET:
$25k For Matching Pool
+10% base platform fee
Additional fees may apply if 1inch team would like Gitcoin to absorb some of the tasks related to eligibility process and grantee management relating to milestones set.