Gitcoin said on Wednesday that the newly introduced cause round, decentralised science, in the upcoming Grant Round 15 (GR15) exemplifies its reasons for building Grants 2.0, a permissionless protocol, which would allow anyone to start a quadratic funding programme.
This week, Gitcoin announced it had added a new cause round, decentralised science (DeSci) and upgraded its matching rounds eligibility terms. Grantees will get access to over $2.6 million in total matching funds in the main round and across 13 ecosystem rounds. $900,000 for cause rounds including climate solutions, advocacy, DeSci and diversity, equity and inclusion (DEI).
Annika Lewis, grants program lead at Gitcoin said the cause round was one of the most decentralised rounds so far with fundraising and operations being led solely by community members rather than core Gitcoin team.
On DeSci, Lewin said: The DeSci round being spun up in this bottoms-up way is a fantastic example of why we are building our permissionless protocol, Grants 2.0, which is starting to roll out in the back half of this year. In the Grants 2.0 world we envision a future wherein anyone, anywhere can spin up their own Quadratic Funding programme – without needing to through Gitcoin as a gatekeeper.
In the rounds, grants are allocated through a Quadratic Funding system where the Web3 community contributes to fund projects that interest them. This system is aimed at curtailing the monopoly of centralised funders, including venture capitals and by giving projects direct access to potential funding from individual donors. Funds raised from the community are matched by those from matching funders.
Despite running at a time the crypto market was down, Lewis said GR14, which was live in June, was successful as individuals and matching funders gave over $5 million in donations.
Something we observed in GR14 was the continued growing interest of matching funders in dedicating their funds to specific areas – whether to growing their ecosystems or to funding specific social causes. This is informing a similar structure for GR15 with ecosystem and cause rounds continuing to be of substantial focus for the programme, Lewis told Arweave News.