Gitcoin Prepares To Test New Permissionless Grants Technology As It Ends Centralised Grants
Gitcoin said on Monday that it’s ending its centralised grants platform and planning two alpha rounds to test its soon-to-be launched permissionless grants protocol which anyone could use to connect resources, contributors and ecosystems to democratic funding mechanisms.
Gitcoin’s impact as a centralised, single point of running quadratic funding rounds was reaching its limit. Our ability to experiment with new funding mechanisms, and to allow communities to fund their shared needs in a self-sovereign way couldn’t scale on our old platform, Gitcoin said in a blog post.
The community voted last week to end the centralised grants round and for decentralised grants programmes to begin. The transition which will span months until a full launch in the second quarter of 2023, will begin with two test rounds on Open Source Software and Ethereum Infrastructure and Climate Solutions which will involve select existing grantees who will participate in the new grants protocol in order to contribute to the development of the new technology.
BIG news! ????
This week, our community passed a vote with 99.9% support to wind down our existing cGrants platform in order to focus on building and transitioning to our new grants protocol ✨https://t.co/NiGUDfAYwY
— Gitcoin ???? ???? (@gitcoin) October 31, 2022
As part of the testing period, Gitcoin will engage design partners who will launch their grants programme to test the technology.
Migrating to a decentralised grants protocol would not affect data on the centralised grants platform, the firm said, adding that details of a clear data migration plan will be released in coming weeks.
Our focus on protocols will ultimately provide a better experience than our current centralised grants platform and allow more projects and communities to experience the value of community-driven funding, Gitcoin said.
Telegram / Discord / Twitter