Quadratic Funding in Practice
Hi frens,
I happened to raise two quadratic funding projects. The rules are quite different. Let me elaborate on that.
Gitcoin Grants
The first project is Web3Matters Weekly, a community-driven newsletter that caters to the community's interests. In previous Gitcoin Grants 18, we have received a total donation of roughly 233 USD worth of crypto, directly from donators.
Similar to quadratic voting, those donations would be calculated for matching funds distribution. In the end, we have received about:
780 USD worth of crypto from Core Round
460 USD worth of crypto from Featured Round by Greater Chinese Community.
Roughly speaking, we have raised 1,240 USD from 233 USD of donations. That means, every 1 dollar donation has generated 5.3 dollars from extra matching funds on average.
🤑
Sounds great, right? Why not donate more money to earn much more back?
That’s why only wallet addresses with Gitcoin Passport score of 20 or above, would be included in the calculation. So it’ll be relatively more difficult to create lots of deceptive identities, or say, anti-sybil (but I dislike the possible discrimination term).
Crowdfunding on flyingV
The second project is a mobile app for open government movement of Taiwan’s Legislative Yuan. Recently we’ve started a crowdfunding project on flyingV.
The crowdfunding results would be calculated with quadratic voting, not for external matching funds (no there’s no such thing) but serve as 50% of our score for the next stage of competition, hosted by Ministry of Digital Affairs of Taiwan. And we’re aiming for the final rewards of 2-5 million TWD (62,000 - 155,000 USD).
How does this quadratic voting defend Deceptive Identity Attack (DIA, in my term)? There are two main criteria:
500 TWD (≈ 15.5 USD) at minimum.
Government ID number must be provided.
That’s…tough, in my opinion, even though personal information would only be used for grouping donations from the same person. No further more.
So, if you’re in Taiwan or supportive of open government movement, please consider donating! It would be super helpful for our democracy moving forward.
Your friend,
Denken