clr.fund Round 7 just went live! 🎉️ We’ve increased the matching pool to $8k and it has 13 days remaining. Time to get busy and contribute, and enable the flywheel to really spin.
A key outcome from Round 5* was that the updates to MACI all worked without any hiccups. The impact of this MACI update was increasing the hard limits on the number of messages, and being able to protect against issues with generating a valid proof. It also successfully used the optimistic registry contract for recipient curation (a registry where anyone can submit a recipient, with a bond, and an owner contract has veto rights).
The brilliance of Quadratic Funding (QF) lies in its ability to act like a crowdfunding campaign, where every dollar from funders gets a match from the matching pool. As Vitalik talks about in his post this week, the use of Ethereum to ensure censorship resistance of votes ensures a much higher degree of censorship resistance versus a committee being relied upon for this instead.
The matching pool is one of the fundamental parts of QF as it elegantly relies on the formula to figure out how to split up the funds. Currently the funds in the Matching Pool have been earned through a mix of Gitcoin grants, philanthropic individuals, contributors, Ethereum Foundation and Moloch DAO. As we've shared in previous posts, making fund allocation more efficient is a big step in the right direction for ambitious Ethereum public goods projects to get the backing they deserve.
What's truly exciting about Round 7 is that it paves the way for more efficient fund allocation to take place in the metaverse. As a contributor, there's a clear value-add to efficient donations that will be matched by the matching pool, and vice versa.
Check out the 22 epic projects that are able to be funded in this current round:
- Ethereum Cat Herders
- Open Ethereum
- Minerva Wallet
- Ethereum in French
- Persian Blockchain Podcast
- Proof of Humanity
Let the donation games begin!
*To clarify, there was a bit of a boo boo over Round 6. Essentially we executed 2 transactions in the wrong order. This means the last official round was Round 5 - which ran for 7 days with a $1k matching pool. The community (188 contributors all up) distributed $2900 to 11 ETH public goods projects.