GG24: Inside the First Funding Round of Gitcoin 3.0 — Funding What Matters

Transcript

Welcome to a new season of the Green Till podcast. We are exploring how we can use technology, community, and new forms of coordination to build, fund, and accelerate what matters in the 21st century. This season, I'm talking with builders, thinkers, and innovators who are pushing the edges of what's possible. From onchain capital allocation to Ethereum to AI alignment to reimagining markets and governance. Together, we'll uncover how these ideas can move us closer to a world that is improving every week, every month, or every quarter. what we call Protopia, a preferable realistic future that is constantly improving through small incremental changes over time. If you want to learn more, you can visit our website at greenpill.network where you can download the Greenpill books for free, play with some of our ecosystem projects, join the Telegram, or participate in the network. All right, today this is a uh GG24 podcast. We are

bringing together the voices that are shaping Gitcoin Grants 24. This is the first Gitcoin Grants round of the Gitcoin 3.0 epoch. Uh so this special episode is uh airing during GG24 itself. GG24 has kicked off and the idea is to give the community a real-time pulse on the rounds vision updates and impact. Okay. So uh the first thing you're going to hear is myself and the other co-conspirators behind GG24 Matilda DV Luke and SAV who are setting the stage with context reflections and framing for GG24. And we'll cover why this round matters what the new structure of Gitcoin 3.0 know is and how it connects to the Gitcoin 3.3 roadmap and then you are going to hear us get updates from each individual domain operator within

Gitcoin grants 24. Okay. So we will hear from the uh every domain that is in GG24 and that means we're going to hear from uh the Ethereum developer tooling and infrastructure round operators the privacy round the interop standard in an analytics domain public goods R&D targeted development and adoption. So, uh, those are the domains that we've got set in in GG24. Uh, if you want to get an overview of GG24, you can go to grants.gitcoin.co or just listen to the rest of this episode. All right. Enjoy. All right. Hi, Sav. Hi, Luke. Hi, Matilda.

>> JM going >> GM. Uh, let's start off with uh what is GG24 that's coming up, right? What are the details? >> I could kick it off. Um, so GG24 is a little bit of a departure um from the way that we've run previous rounds of Bitcoin. Um, the way I would describe it is we're pushing more out to the periphery, pushing more out to the community. uh we went through an intentional process called sensemaking to really hear from the community what are the biggest problems and kind of opportunities across the Ethereum ecosystem and map domains to that and then uh essentially enable round operators to come in propose how they would run the domains in terms of funding mechanisms and their approach and those types of things um and ultimately drive impact towards them and

so that's what GG24 is all about and we're we're excited about the new approach >> let's say it's the acceleration of um Gitcoin and a new period for Ethereum as well. I think coalitional funding is a topic that we have discussed over the past years but never really came to its full fruition. Um and I feel now it's really a new kind of age of onchain coordination where the right stakeholders are able to identify and put their resources together to to really solve big problems. >> Yeah. Matilda, you want to maybe introduce the domains that we've got for GG24 and talk about the high level structure. Yeah, I want to say it's also really amazing to see the evolution of I mean I've been involved with GG rounds since JR15. So it's really amazing to

see all the rounds that I've been a part of and the evolution that we're doing here um into this new structure. Um so yeah, we have five domains for GD24. Got a dev tooling and infra domain. We've got an interop um domain as well as public goods, R&D, targeted development and adoption and privacy. So for those listening who might be thinking, hey, what are domains? We're used to rounds in GG24, you can kind of think of the domains as the highle categories. So we've got five categories, i.e. domains running in GG24. And each of these those domains have sub rounds within them. and they're all multi-mechanism. I think we have,

correct me if I'm wrong, what we've got five or six mechanisms at play with GG24 uh where we're obviously known for we've been known for quadratic funding in the past and we started our multi-mechanism um evolution already in G23. So, it's really great to see this expand so much. >> Can we zoom out for a minute and talk about Gitcoin 3.0 and how it differs from Gitcoin 2.0? So what's the high level structure that we're pursuing and what are the big breaking changes with Gitcoin 2.0? >> The biggest change I would say is like Gitcoin doesn't have a software stack anymore and so you know we went from this phase of Gitcoin 2.0 where we had the grand stack that we used to run our rounds. Most of the rounds were run by Gitcoin directly on top of grandstack

and they were high weighted you know as as quadratic funding rounds. as we did GG23 that changed where Gitcoin went multi-mechanism and we ran both kind of a retro round as well as a quadratic funding round and that was really kind of like the beginning of this progression into 3.0 we're now we don't have a software stack and so we're we're leaning on our communities both to run the rounds from like an operations perspective as round operators but also you know the the tooling that it runs on top of so like Matilda mentioned earlier you know we have multiple mechanisms running in this round and we're running you know on top of GTH and Pryboat and Karma um and others and so that's the biggest change that I would say you know I've seen going forward.

>> Yeah. Yeah. So to build off of what Savv just covered, we're also really moving away from making centralized decisions about what we're funding in these rounds. So you know, for anyone listening, if you've been around a few GG rounds, historically it has always kind of been like a inside out approach, a top- down level approach from Gitcoin deciding the funding rounds and that of course always being ratified through our governance. But the a very big change we've made now is that we're not making those decisions at all. We're actually going into the community sensemaking about what are the biggest problems in Ethereum so to speak um to fund at this very time. So what are the most

important areas of funding at any given time ahead of a GG round. So that's to me is a really big shift on top of what Sol was saying about the shift into 3.0. Um, and that's been that's been a really big shift that I've um that I'm really excited about and it's been incredible to see the community rally and show up to send make with us. >> Yeah, I mean I think for me the exciting thing about Gitcoin 3.0 know is um the absence of Gitcoin's own software stack has meant that that subtraction mindset has created an arena where we can test out all these different capital allocation softwares from different parts of the ecosystem. And so, you know, I'm really excited about working

with Gibbth and with Karma and with Private and Research and Sylvvi and deep funding. I think that there's a big opportunity to create an evolutionary arena um where basically we help people that are building this software evolve better versions of their software and get some distribution and learnings along the way. So this 3.0 structure uh it it feels like a tactical retreat to not have our own software stack but it also feels like a strategic advancement to be able to embrace the network of people who are doing amazing stuff in the Ethereum public goods funding space to fund what matters in Ethereum. So yeah, excited to see how things evolve as we uh as we fund what matters to Ethereum and 3.0. The next thing I want to talk about is coalitional funding. SAV, what

is coalitional funding and why does it matter to the new structure of Gitcoin? >> It's all about building alliances is the way that I would describe it. So if you look at public goods funding across the space, um it's mostly been in silos over time. And so there's different groups that are funding public goods um through grant programs and otherwise, but there hasn't been strong kind of like cohesion between them in terms of how they're working together. And so if you look at the work that the Ethereum Foundation is doing and some of the recent changes made there with the strategic funding, they are more looking at ways that if the Ethereum Foundation is going to be giving funding out for, you know, certain certain types of initiatives, how do they seek out others in the space that are going to be also matching that?

And so it's kind of like matching on matching is one way to put it. And so if Gitcoin is going to be looking to host a privacy round, um then we would want to go and source funding from others in the space that that domain is important to. So the hope is that we can build, you know, coalitions that way. Hence the term coalitional funding that creates these alliances where we're funding these things that are important, but we're not doing it in silos anymore. >> Yeah. I think it's really kind of exciting to think about how coalitional funding can work. Once we've identified Ethereum's biggest problems, uh things like privacy, things like interops, things like dev tooling and adoption, there's going to be different funders that are interested in those specific domains versus other domains.

And just building out a structure in which you're getting matching on matching on matching, you're getting funding on funding on funding within each of those structures feels like we can make make each funers's dollars go a lot longer by uh by analyzing those uh by by creating those coalitions. And so I think that uh 3.0 is going to be a a big uh boon for coalitional funding. All right. Uh well, final question on this intro round for each of you. Is there anything I didn't ask about GG24 that you want to say? Uh maybe Sab you can go first.

>> Um the biggest thing I would say is like I definitely appreciated the process we went through kind of bottoms up talking to the community hearing what's important to them and the areas that you know we could be focusing on you know more and I think a lot of good came from that. I think going forward figuring out too how we can have more of those sensemaking discussions with you know potential funders in the space that have propensity to help support the domains. And so that's something in particular that I'm excited about as we go forward to take a look at that and figure out how we can be more strategic, you know, towards this this coalition funding type initiative. Goals.

>> Yeah, I would echo what what S just mentioned. I think coordination, efficiency over time is is what I'm trying to optimize for. And I think we are now getting better at identifying I think a problem is always an opportunity for growth as well. So we're now getting better at identifying these opportunities. And I think each cycle we're going to get better at attracting the right funders, attracting the right operators, and ultimately funding the right initiatives that create this ecosystemic upside. And I think to to what S mentioned, I think we were able to get great input. And I think now it's understanding how to weight input in the future and linking it closer to those that are able to put skin in the game, whether it's as an operator, a

co-founder or or participant. Um, but I think the way we're structuring things now, we're going to get smarter over time and we're we're really going to be able to um, yeah, allocate more efficiently and and have a big impact. >> I think just one of the things I want to voice and just make a note of is I that yeah, GG24 is very different to previous rounds, you know. So, if you're a builder and you're wondering, hey, how do I participate? How do I navigate this new structure and this new type of like funding cycle? I would say that, you know, the the CTA is still show up to grants.gitcoin.co. You've got all the information there. Um there will still be places for builders to participate.

It might not look exactly the same as before, but we really are shifting our focus to being a lot more intentional with what we're funding each round, like we do every single time. It's my favorite part of GG, as I've always said, is doing a deep retrospective to see where where there might be holes and gaps and how we might improve the processes moving forward, not only for funders, but for the builders and for our partners and for everyone that do um that do get involved with GG. So, >> yeah.

>> Yeah. Plus one. Well, uh Luke Matilda, thanks for uh helping me set this container for Gitcoin 3.0 And uh from here we're going to cut over to interviews with each of the individual domain leaders. All right, you're going to hear from John Gilding next. John is a lead at the PSC group at the Ethereum Foundation and is running the privacy domain. Hey John, how's it going? >> Hey Wy. I'm well, thanks. How you getting on? >> Pretty good. So tell us about privacy on Ethereum. Why does it matter to you? >> Yeah, great question. Yeah, I think there's kind of two two angles. Um, angle one is kind of the I think the values that we hold dear on Ethereum being cippher funk values. Uh,

privacy is kind of a key part of that. I would say Ethereum has been a bit of a leader with privacy for like the past decade or so, but there's like a hell of a lot of room for improvement. um privacy still isn't like well you obviously we've kind of like pioneered CK and stuff like that but like in terms of like privacy in DAPs private transfers etc like the adoption isn't really there so um I think to really um execute on the vision that is Ethereum we need we need privacy um there's kind of questions around whether it should be enabled by default or whether things should be sold at the application layer those are questions we're thinking about at the moment with um our kind of line

of work. So that's kind of the first angle. And then the second angle especially with sort of what's going on in the broader ecosystem at the moment around around like institutions coming online building their own L1s sort of regulatory clarity clarity privacy is kind of like a key practical need in order for to to kind of get to mass adoption. So uh we need privacy for for people to use Ethereum in the real world. we can't have like private transactions um in our like um bank uh sorry public transfers in our in our banking apps that kind of needs to change. So there's there's kind of two angles. There's like the the value side.

I think we all we all kind of believe in the the cipher punk values and privacy is really important for that and then the second angle is of course uh this is just a practical necessity and and we and we need it. >> Thanks John. Next question is yours Matilda. Yeah, I'm curious. I would love to for you to tell us a bit more about the funding mechanism that you're using. I know there's a there's an element of retroactive funding and a bit of quadratic voting. >> Yes, that's right. Um, so a quick overview on like the the app and the underlying tech use. So we're we're using Macy under the hood. So Macy is like the team that that I'm in in um PSC. So Macy is a minimal anti-colusion

infrastructure. It was an idea proposed by Vitalic a few years ago and it's a it's a private it's gone for a few iterations but it's a private voting protocol with strong anti-olusion um properties. We've also built like a front end to go with this that's built on top of Macy and yeah Macy can be used for public goods funding. It can be used for private DAO voting. Um obviously in this case this is public goods funding. So yeah, we're kind of as you mentioned like combining a bit of retroactive publicans funding and quadratic voting. So the way that's going to work with this round is you're going to like come to the app. You're going to it's open to anyone. So it's not like just for experts. It's it's for the whole kind of community. You just got to like pass um

you know not be a sibles. So we're using like human passport for that. um you'll get a certain amount of voting power and you can assign that voting power to like different projects. So the the voting power is um like this the square root of like the number of votes that you give to a project. So in plain English, if you like dedicate all of your votes to one project, um that will result in in less voting power in the end compared to if you like distributed your votes to like lots of different projects. Um so it's incent it's to incentivize like um broader broader kind of um uh distribution of funds and like projects

with broader support will get more funding in the end. So that's kind of the the quadratic voting angle. when you vote um funds are distributed quad quadratically for like the retracted public goods funding part. Yeah, that's that's relatively straightforward. So if you're a project and you apply so this is obviously before the voting stage. Um so before voting we'll have the application kind of period and when you submit your application you have to like fill in some questions with evidence that you are doing something like for privacy. We know that you know like this is is difficult for some projects and often projects has to like tell the whole life story before like applying.

So we've we've made these questions like relatively straightforward but yeah some some simple questions and some evidence that your your project has done something in the past. So it's retroactive and those are kind of both those elements and then at the end there's like a big you can obviously like come to the app as well separately and and deposit funds or donate funds to the matching pool. So there's a big pool of funds that's we've kind of got matching funds from uh the EF from yourselves at Gitcoin and from TA public goods. Obviously we're hoping for more. You can deposit funds into that during uh the round until the end. And then at the end we tally the results and and those funds from that pots uh are distributed.

>> I love that you're using private privacy first infrastructure to build and fund the privacy domain. I think that's super cool. >> Yeah, it seems seems only right. dog fooding uh privacy tech. >> Um and I should mention I'm I'm not sure that we actually covered the definition, but uh Macy stands for minimal anti-ollusion infrastructure. So in addition to having a bunch of benefits regarding the privacy of your votes, uh it also helps prevent collusion in how the matching pool is distributed. >> Yeah. Yeah. Exactly. So um votes are private. So um like me or you can't see how each other voted on chain. Um even when the results are tallied as well. We can only see like the final tally with

like the distribution. The votes aren't revealed. In addition, we've got this like extra property um for for anti- collusion. So collusions I guess is like quite a broad term. You can have like good collusion, bad collusion, but what we're worried about here is like um someone voting and then maybe like selling their vote and then some some smart contract is set up where you can like automate this to to hell and yeah it really SC like collusion can really scale in in the in for in the form of like selling votes in like a blockchain context. We want to prevent that. So that the way the the way that this works is we have this property called receipt freess. So you can vote but you can't provide any satisfactory proof to anyone

the way you have voted. So there's there's um uh no receipt that you can show that you voted for like project A. So then a briber can doesn't have any guarantee that their bride is successful if they go ahead and do that. >> What kind of projects are you hoping to see in the privacy rounds? >> So we've we've we've uh spread the net kind of broad for like in terms of projects that can apply. So we've kind of set four four categories. So category number one is like privacy R&D. Um category number two is like privacy DAPs. PU uh category number three is privacy infrastructure. And then the fourth is uh privacy education. So we we kind of want to um yeah make this is

defin hopefully this is like the first iteration of what we're doing. Maybe public funding for for privacy can become bigger and better in the future. So this is just the first iteration where we're learning about what works best and what projects make the most sense. But we've initially sent the set things quite broad. So yeah, those four categories cover quite a lot of of ground. Can go into a bit more detail on like each of them. But yeah, I just want to kind of accelerate the space as a whole for now and then yeah with the aim of in the future um yeah getting more more public as funding for for privacy projects on the whole.

>> Uh anything that we didn't ask that you want to say before we break? No, I think that covers it. Um, yeah, we've got we've got these four categories. Um, R&D DAPs infrastructure education. Please take a look at our like uh domain notion page with all of the info. [clears throat] It has the application dates, the voting dates, the criteria, the questions we're going to ask. Um, so if you need any info, please check that out. And yeah, we're we're hoping this is like a good first iteration to yeah, really increasing the amount of public goods funding available for for privacy projects on Ethereum.

>> Great. Thanks, John. >> Amazing. Thanks. >> Thank you. >> Next up, we're going to talk about public goods R&D. We are going to hear from Afo who is from the Green Pill Network, David from Gainforest, Paul from OneHive, and we'll be talking about the public goods R&D domain in GG24. All right, here we go. Uh we are here to talk about the public goods R&D round in GG24. David, you want to kick us off? >> Yeah, totally. So the public goods R&D round is going to be first of all super cool. We have some funding to do two things. Um progress and advanced research for public goods funding and allocation. So make it really serious.

Not just like a a play thing from web 3, but actually having serious science, serious research to invent new algorithms. hopefully that can be used for public goods funding and allocation. And the second part um with Paul and Afro here is the tooling part. So we also want besides awesome research create really really cool tools that can be used by different kind of web free projects or beyond to allocate uh public goods funding. >> Sweet. Uh AA let's go to you next. Anything to add to that? >> Yeah I think yeah great setup. Thanks David for that. I think we are around within the public good domain is meant to complement research by having a focus on tooling development and taking those insights to develop tools that have a

strong focus on interoperability, collaboration, project maturity and solving some critical UX u UXUI pain points. So in essence, we're looking to fund proposals that are um looking not just only to build new features, but really focus on building collaboration and partnerships within the space so that we could go further together rather than building in isolation. >> Yeah. Oh, okay. >> Next question. You we're still figuring out the co-host thing. Go ahead, Matilda. [laughter] >> I want to go back I want to ask a question to go back to kind of the sense making of this domain. um you did very rigorous sensem on this area. Why is this an important domain to fund at this

time in our ecosystem? So I think many of us have been super thankful for the public goods domain in web 3 because many of our projects started through public goods funding but we also all know being involved so deeply with the ecosystem that something's fishy in the public goods domain and um my background is in science so I did a PhD so I've um had the luck to kind of like learn how to do the scientific method and I just downloaded a bunch of data sets to really turn that feeling of something fishy into like just data evidence. And that's what the sensemaking report was meant to be. you when you read it, it's um there's by no question it has similar

similarities to his academic paper for a good reason because I think we really need to reflect on ourselves as a community and figure out okay let's stop throwing out money um and let's think about why we throw out money and how do we make this sustainable for Gitcoin and beyond for the people to um empower this space right and so really the time is now to do this because with Gitcoin um 3.3 we have this really really great I would say shelling point to to reflect on what has come in the past and so that's what the sensemaking report was about like reflecting on all the past QF rounds that Gitcoin has ever launched and also all the past similar rounds that we as a

community has done and look using that historic knowledge look into the future and see okay how can we now with that kind of analysis how can we look up and really improved the space not so much so for ourselves but also for people outside of our space that look at us for example researchers scientists academics and look at us and say wow these people really know what they're doing and I really want to join that show right and that image that reputation I think is the goal of this round >> yeah and to kind of zoom out on that uh Ethereum is in itself public goods infrastructure it's a it's a system for uh providing a a resource to people that uh might not have access to resources.

So I think uh no one really believes that there was an issue uh with the way that private goods have been funded and make profits in uh in the world until today. And all of the issues that we find and what we've been solving already is related to public goods. What are the things that governments and nonprofits provide uh to people and and and these are the solutions that it already is working great for just like financial access. So people that live underneath governments that aren't providing them legitimate access to spend money or receive money. But the the the scope of the problem is way way bigger than that.

It's not just financial access. It's the distribution of resources to the right projects. It's capital allocation. its capital formation, its reputation, its um identity, its impact reporting. It's a whole host of issues that are different for every specific public goods problem that's out there. And within Ethereum, we have kind of our own subset of these problems uh related to us being web 3, us being money-based and international and digital. We have things like civil resistance. But a lot of these problems, if we can solve them for ourselves, are replicable for the real world and for a lot of these much more enormous problems. Um, and yeah, I

think ultimately become the things that Ethereum scales to the world with. >> Yeah. And what tell me about the funding mechanisms that you're using because you're using you're using conviction voting and you're using retrofunding by a comma. How's that going to work? >> Yeah. So uh we have an evaluation council of people that are selected from uh various projects in the space and uh we'll be running a gardens conviction voting um uh two separate funding pools in gardens. One will will be a kind of incubation for smaller projects and then another bigger uh more uh more funding for uh more mature products that we call

the growth pool. So those are both conviction based and then uh the proposals that get funded through that will be eligible for retrofunding which is kind of your performance-based bonus. You could think of it as uh for the work that you do within this round. Um and yeah that's charm versus the the other tool that we're we're pairing really tightly with gardens in in this domain. >> For the research section we are basically looking into how academia is doing things. So we are copying the um preview process of academia but make it like super fast and on steroids. So what we're doing and what we've already accomplished as we um got a really amazing set of reviewers from some of

the top universities in the world uh Columbia University ETH Sturk professors that are lined up and ready to review and take a shot at our field. So that's something really really exciting and we launching some kind of a fast grants program where okay once you submit you have like this two weeks cycle of reviews that we also reward reviewers for and then you get all these reviews and then you get your decision and then there's also retrofunding connected as Paul said on this as well. >> I think we're coming up on the uh last two minutes of this segment. Is there anything I didn't ask that you want to say? Uh maybe we'll go to you first David then Alfo then Paul. I think this is one of the most exciting domains um for a simple reason that also Paul

mentioned. I want to just emphasize it a lot. I think the public goods uh funding and mechanisms and knowledge that the fume committee is creating here internally in web 3 but also hopefully externally for people to use outside is one of our most ambitious and biggest and most beautiful export projects that Ethereum can provide to the rest of the world. And I think if this round and this domain is successful, not only will we bridge that knowledge and make this like really solid, not just for us as a secret, hey guys, we have something really amazing and no one should know about this in web three, but really like something that can scale to the world like respected by academics, respected by science, and so I'm like super bullish on this.

>> Yeah. I think for me what I'm really excited about is being able to mature the tooling to be able to be more usable for communities and be able to start really adopting these tools in a more practical manner than what has been the status quo. So to me that's that's simple that's that's very simple just getting more mature tools creating more collaborations and partnerships between different projects in the space so we could get to maturity quicker and then delivering these tools to communities at a local level. So that's what I'm excited to see. >> Yeah. plus one to both AO and David and and I'm especially excited about the combination of these two, both having the research side of this and the execution side of it. It's two really different mindsets and you know David's working on peer review and academia and

uh this this feeds into all of the stuff that uh we eventually get to like put into the battlefields. But like the combination of these two uh I'm really excited that we can have together in this this um like two-prong ground. >> Amazing. >> Great. Thanks y'all. Well um check out the the public goods R&D round on grandgo.co and uh thanks AO. Thanks Paul. Thanks David. See you out there. Next up targeted development adoption domain. We're going to hear from Luke and Monty from Refidal and Cello about targeted development and adoption and the Ethereum localism. Hi Luke. Hi Monty.

>> Jam Jam. >> Hello. Hello. Why don't you tee us off by telling us about the targeted development and adoption round in GG24? >> Yeah, I'm happy to jump straight into it. Um the target development and adoption round is focused on tripling down on the highest impact solution development and adoption campaigns um for Ethereum. It consists of three round the solution development grants milestone based grants and impact retro specifically for software solutions um a local funding program round which also has a kind of meetup focused sitra um in collaboration with Ethereum Foundation and a bio regional reforestation round

which uses cutting edge technology to reforest globally. Yeah, and I think I think for me this is about finding real use cases and product market fit for crypto and web 3 technologies that can grow to mass adoption and really scale the ecosystem, but rather than that just being speculation or high-risisk DeFi or the kind of stuff that you know we know is out there in the web 3 space and and has got a lot of traction already. uh how do we find those those use cases that are really a great fit for the technology that that that we all are playing with in this space and applying that I into those sectors in a targeted way that's supported with funding leveraging the you know finding those best builders the best projects and

getting them the resources they need to scale up those use cases and so for me uh obviously you know there's three different rounds in here but you know I'm particularly focused on this idea of uh localism and Ethereum localism uh which maybe I can introduce a little bit more about uh in a sec which would be cool. >> Next question is yours Matilda. >> Yeah. Amazing. Well, I'm going to zoom out a little bit. The two of you have been very deeply involved with GG rounds for quite a while now. I think you might be the most experienced round operators that we have in this round. And you're also been very deeply involved with um creating GG24. So, I'm I'm curious about what are you most excited about with

this new structure, this domain level structure that we're having, the new Gitcoin 3.0 structure, and what are you taking from your learnings into, you know, running it in this way? >> Yeah, I think the the craziest part is that we're actually here like, yeah, we got this ability to play this important role, which I think is very new and very GG24 and Gitcoin 3.0. Um the fact that we were able to to operate as the core essentially and really play a role in defining these these core domains I think is very empowering to to people like Monty and myself that always have this desire to to put coalitions together and move to to bigger visions.

Um so I think really allowing Gitcoin allowing people like us to leverage the shell of Gitcoin to do better and do bigger. Um I think that on itself is a big innovation and something that I'm just super super excited about. Of course there's also a lot of newness in that and a lot of learn a tremendous amount of learnings to be honest. Um but to me it is very clear that there is a lot of potential here like we're really redefining how coalition of funding works. We're redefining what is fundable. I think on itself this mission of of get going to fund what matters has always spoken to me is the reason that we've always been around and in various roles. Um but I think that now we're really crossing some sort of a um yeah going through a brick wall that we

weren't able to go through. And I think part of that is because we're now so open um less opinionated about what tools to use and more focused on where are the biggest opportunities and how can you realize those opportunities. So for me this is a new paradigm that I'm just really excited about. >> Yeah, absolutely. Me too. And I think for me what really embodies it is this kind of shift from the centralized grant program paradigm which obviously we see both in the traditional uh uh space in philanthropy and grant giving but also even in Gitcoin's evolution from being a kind of monolithic program to then Gitcoin 3.0 I know this shift into a moreworked uh and distributed capital allocation model where we can build up these uh networks of expertise across all different domains that matter to

Ethereum and that matter to the world. Um and then channel those resources through many different layers. There are there seems like there's many new layers forming in this kind of new structure. Uh but ultimately I think that should guide the capital to to new places and to at the edges and where where more intelligence can sit in terms of guiding that capital allocation. And that obviously is also very in tune with with what we're thinking about uh in terms of the concept of localism like uh instead of people in faroff ivory towers making decisions, we should be empowering the people closest to those problems, closest to the opportunities to to to make the decisions that that matter to them and their communities. And ultimately uh I think that's going to result in in a better system. uh and we have these amazing technologies in the

web3 space to start um you know building those systems designing kind of interesting uh governance experiments and uh you know I'm excited to talk more about trust graph which is a a new technology that we've been building to kind of bring this web of trust attestation system uh so we can uh onboard experts in a peer-to-peer way uh to help participate in this kind of capital allocation process um and then yeah also working with a more diversity of funders and bringing those those co- partnerships in I think has been a really illuminating process that we've seen uh really flourish in this uh Gitcoin cycle. Uh so excited to keep seeing uh how that network evolves.

>> You're muted, Kevin. >> Oh, you're on mute. >> I think we're about out of time and uh I have more questions that I want to ask. So maybe I'll just ask this extremely open-ended question as we are closing out this section. Um is there anything I didn't ask that you want to talk about? And Monty, I I sincerely hope that you'll talk about trust graphs and Ethereum localism. Uh but yeah, open-ended. Uh what what didn't I ask that you want to talk about? Maybe we'll go to you first, Monty. >> Yeah, so we just today launched uh localism.f fun. Uh so you can head to that that website and check out our new program page and we have two rounds that are currently there. One round is is live and and is confirmed and the other round we're still working on with uh the

Ethereum everywhere team to to get that out there. Um but essentially what we're introducing with this is we're wanting to fund we're we're kind of like a meta funer. We want to fund other people's programs uh and and local programs. Um and so how we want to do that is by creating this um kind of network of experts around web3 grant programs around localism um and and using that kind of building this uh onchain web of trust that will help us to evaluate different community applications. So, you know, there may be someone in Latin America who I don't know personally. Uh, but if I can form a chain of trust from I trust, you know, a Waki and he's met them and and we can form that chain of trust to to say, okay, this is a a really legitimate program. They're doing

good things on the ground. Um, and and have people who can support their their work. Um, so building out that network in a peer-to-peer way um ultimately can allow us to build more trust and more expertise and and go to a kind ofworked version of of uh the program that we're we're trying to run. So, I don't think that was the best explanation ever. I I think I need to refine refine the pitch there. But go to localism.f fund, check out the round we've got and we'll be releasing more details on this uh kind of expert network that we're building with trust graph and the launch of that product. >> Yeah, thanks for that Monty. Maybe for me to wrap it up, I think um one thing I want to highlight is that um part of the solution development grants is part of this bigger movement that we started

called Ethereum for the world. Um, it's an extension of the work Monty and I have already been doing as part of the CEO ecosystem which is really focused on realizing the real world potential of of web 3 and with Ethereum for the world and with the targeted development and adoption domain. We're really trying to identify what are these high leverage points for real world adoption for Ethereum and Ethereum ecosystem and really tripling down on those specific initiatives. That's why the targeted element is is so crucial. So um yeah, I'm just really excited for this round to start. If you are a solution developer, um especially if you are focused on sustainable development or have a real world target, um head over to fortherworld.eco and participate in

one of the rounds from this domain because um yeah, we can't do this without you, the builders. >> Let's go LFG. >> All right. Well, thank you Monty. Thank you uh Luke. I'm excited about this domain and can't wait to see how people interact with it and to see your retrospective afterwards. So, um, thanks for the time and, uh, to drop a call to action for the audience before we break, it's uh, grants.gitcoin.co uh, and check out the, uh, the targeted adoption round. >> Amazing. Thank you all so much. Let's make it happen. >> Next up, Roit is going to be talking about the privacy domain on Ethereum.

The next voice you hear will be us interviewing Roit. Hi, Roit. How's it going? >> Hey, Kevin. Doing great. Awesome. Happy to be here. >> Happy to be having Interop uh part of GG24. Do you want to introduce your domain to the Greenill audience? >> Sounds fantastic. U yeah it's it's a long name but we are hosting a domain on interrupt standards infrastructure and open data. I think one of the analogies I've been using and it's a longish one so bear with me for a second here is uh to think of this domain as what it would do for Ethereum if we were to imagine it as a growing city. Uh we all know Ethereum started as one single bustling town with one chain, one set of rules,

one way to move value and things have changed pretty fast since then. Scaling has worked but coordination hasn't. uh we now have millions of users, thousands of apps, everyone's scattered across L2, side chains, app chains, and rollups. And so while each of these new neighborhoods and suburbs are awesome on their own, they also have created silos across the ecosystem. So in a nutshell, this domain is about creating the bridges, the roads, the maps that we need to uh get Ethereum to work as a one cohesive network all again. >> Thanks for uh next question to you, Matilda.

Yeah, I love seeing this and uh really great to see you at the helm on this one, Roit. I am sure that there's going to be a very in-depth retrospective as well on on this domain when it's done. Tell me a little bit more about like the the operations of this like what funding mechanism are you using? Um you know, who are you partnering with and what are kind of like the high level impact um metrics that you're looking for in this domain round? Because this domain also you only have one round that you're running in this domain. That's right. Yeah. So, we are going to fall back on the collective wisdom of the crowds on this run. So, I'll be using the quadratic funding. Uh we are hosting this on the giveth platform. I think one of the great things about this

domain is um not all the granties will be net new to Kitcoin. I think from all the legacy rounds that Gitcoin has run, uh some of the awesome work has been done uh across a variety of grantees in open data, open analytics, uh data infrastructure and so we we are hoping to welcome back those grantees into this domain as well as uh new pilots and prototypes specifically focused on interop um on the open intense framework that the Ethereum foundation is leading. Uh so we'll we'll lead this round using quadratic funding. Uh it'll be hosted in giveth. Um we are going to have grantees look for uh give us uh a plan for the next four or 6 months in terms of the tactical artifacts they'll be delivering. A lot of the standards on

interop are forming. The infrastructure is getting ready. Uh so we expect uh a great amount of work on a tactical output level to uh deliver milestones in the next 90 to 120 days. So that will be the focus for now. It will be more outputbased. Um and our hope in the longer term is then we start to um move the needle from outputs to outcomes, start measuring user adoption and what it does to the experience as a whole um into going into 2026. >> I'm curious if you could tell us uh you know if you're maximally successful uh if Ethereum is maximally interop what does the world look like? How does the user experience of using Ethereum change?

>> Yeah, I think interop means a lot of different things at different levels of granularity. So I think in the ideal um sense we would be at a level where um a lot of the measurement of the infrastructure um uh becomes a public good and um as as an example if we take the open intense framework um in an ideal state it would have evolved and we'll have different players measuring technical metrics like solver performance and what's the execution volume and the adoption coverage across the ecosystem and all of these open anal analytics makes progress measurable and then in turn fundable as well. Uh so that would be one ideal goal um of this

domain. The other thing that I'm personally excited about is as you start to eliminate data fragmentation um you start to also move the needle on credible neutrality and so the emergence of Ethereum as the transferable and and actionable data across analytics rollup metrics funding flows um and instead of that living behind proprietary APIs or dashboard becomes open and and open to verification I think that that would be an ideal state to get Yeah. Amazing. It's really exciting to see this uh domain um come alive. I think we've only got a few minutes, but if is there anything that we haven't asked you that you wanted to add um

before we close out? >> Yeah. Um, so yeah, I think having play worn the hat of a donor and then a grantee and then operating this domain at Gitcoin, I think the other sort of collateral effect that I'm looking for in a positive way is um the domain also helping funders to allocate capital based on the actual network impact and not social bias as more open data makes it possible to drive public goods funding. um that's not a direct uh tangible impact, but I'm hoping there'll be um a domino effect from this domain that will help us get there as a whole as an ecosystem.

>> Thanks, Rahee. Um I know that you contributed in the Gitcoin 2.0 uh era and there's other GG24 domain operators and and software developers who are also in the extended Gitcoin network and just appreciate you coming back in this new forum and uh helping us make Gitcoin 3.0 success and accelerate Ethereum. So, uh, onwards and upwards and, uh, and, uh, can't wait to see how it goes. >> Sure. Excited. Looking forward to this. >> All right. Next up, we're going to hear from Devancha, who is a public goods and AI adviser at the Ethereum Foundation about his segment of GG24. So, we're here to talk about the dev tooling domain in GG24.

Uh, maybe Matilda first and then Devon, tell us about the dev tooling uh, domain. Yeah. So, this is a domain that came came out pretty on top of our sense making season. Um, it is also really in line with what we've done historically with our OSS rounds before. So, in GG23, we started this multi-mechanism approach with our OSS rounds where we had um QF for early stage builders and we we did a retrofunding round for our mature builders. In GD24, we're partnering with the deep funding team on having a QF round for projects and deep funding round for the repos. And we are also tightening up our eligibility criteria.

We're taking the dev tooling and infra and we're creating one big round um with that eligibility criteria. But I'm going to hand it over to you next Devanch because Devanch actually I think you saw our sensemaking report and reached out to me and said hey I think this would be a perfect fit for us to collaborate with deep funding. So yeah Devanch over to you. >> Yeah I'm so glad that we got to like that all of the timelines happened and we all got to like sync up our efforts together over here. Um, I think like broadly like I'm I' I I I was brought into the web 3 space because of the quadratic funding rounds. First with a project called Dora Hacks and then with Gitcoin where I really found my tribe

here at Gitcoin. So at one level I'm very happy to find to give back to the Gitcoin community and to try out new mechanisms in these rounds. And I think something I learned with my participation in these QF rounds was that there is no cost to being dishonest. that if I get my community to support my project, um I don't like I'm still getting my money back. Like even if I'm created 10 accounts and they've each given me $1,000, it's not like that $1,000 is going to be confiscated. At the most it would be viewed as a civil and I wouldn't get extra matching funds.

So there's theoretically the cost of attack is zero in like in some of these earlier rounds that I took part in. Um, and I think we've mass we've like we just finished a pilot by the way like you know of I I was very scared of distributing $350,000 via deep funding without taking the mechanism for a dry run first similar to how you like try out a car before actually buying it. And something we found really cool was like despite attempts to manipulate the prices of repos they automatically came back down. So the biggest difference in like so deep funding at a broad level is asking uh if this opensource repo was evaluated professionally what score would the repo receive? Um so then the

market bets on it. We don't actually have to have evaluators go and evaluate it. The market will predict that yes if go ethereum is evaluated it will receive a score of X. And if go Ethereum tries to manipulate this market and try to artificially increase its price, what's going to happen is that model builders will be making predictions which price it lower. So whatever money they're putting in to increase its price is essentially going to the model builders. So there is now a cost of attack uh which is baked into the mechanism. And we in the dry run we finished uh I'll quickly like share my screen. We actually managed to get decent weights between repos that are part of uh deep sata part of protocol guild or dev

tooling guild or argot collective. So as you can see it's super unequal like you have something like eip and go ethereum with like 8 to 9% each and then there's a massive drop to 3.4% 3.8 eight and then as you go down the list it drops all the way to like zero like silkworm which is not technically I think being worked on fully so that's why it got a very low score of 0.15 so now you can just distribute the money and it gets sent according to these market determined weights so we haven't actually distributed money through it we're going to be doing that in the Gitcoin round and we're opening up eligibility requirements and we're letting other people participate as well submit their repos for consideration so

really excited to actually now properly try to like build out this mechanism and actually get a working implementation of how the fund distribution is and compare it with QF. I think I'm really excited about the fact that QF is also happening. So we can do like a comparative study saying uh an interview project saying hey did you prefer the QF process you prefer the deep funding process and get some data on that as well. And then how is the QF uh just for the listeners how is the QF and the deep funding round actually being connected with one another >> like Vitalik cited a law called I think spritz law which said that in these markets that we have we shouldn't exceed 128 repos that should be the maximum cap

that can receive any funding at all in deep funding and so it's basically it's it's it's a situation where 128 repos are competing for 100 points And based on how many points you have, money is going. So that's like the very simplified version of uh of what the mechanism is. So how do we select the additional repos? We already got 45 repos from all of the different guilds. How do we now select another set of repos? And that's where the quadratic funding round comes in. That while applying for the QF round, you can indicate that you're interested in participation in the deep funding round and submit your GitHub repo. And uh if you're accepted into the QF round, then

we will run it past the models which take part in these deep funding competitions. And if it arrives in the top 100, you'll basically be part of the deep funding round. and if it's not part of the top if it's not part of the top list it will be uh automatically excluded from the round. So I think that's the other really exciting shift that like there's no real application process for deep funding. All you have to do is submit your GitHub repo and we are starting off with a more measured version of it which is that you have to be accepted into the QF round. You can apply separately for deep funding but we greatly greatly prefer if you've gone through the process of vetting at the QF round. So it's kind of like a soft launch of eventually anyone can submit their GitHub repo but right now we want

you to be vetted by the QF team which is doing eligibility. So that's how these two are connected at the moment. >> Before we break anything that we didn't ask that you want to say maybe we'll go to you first Devanch and then Matilda. Yeah, I think um again I think I would just it's my nature to kind of just talk to any builders who have participated in the rounds before. You know, we've had a few questions like, "Hey, where can I fit in? You know, I've been participating in DAPs and apps and OSS in the in the past. How is GG24 working?" I would honestly say it's kind of like going back to basics in a way.

you know, head to the domain, read through the eligibility criteria. The eligibility for this domain specifically has shifted a little bit since our last OSS round. And um yeah, I would just say to any builder listening, just head there, check the eligibility criteria, and then this is also running through GITH. Um it's a fairly straightforward application process um as well. So that's the that's the shout out I would do and you can just head to grantstocoin.co and everything is listed there.

>> So maybe I can add on to Matilda by saying how can you participate during the GG24 deep funding round. So there are broadly four ways that you can participate. The first is that if you if you are a trader which the majority of crypto Twitter is currently that they are traders who make a living by betting on coins. Uh so if you're a trader, we want you we want you to bet on which repos you think are undervalued and which will increase in value. Uh so you're essentially making the market more efficient. This can either be at an individual trader level or it can be as a data scientist where you build your own model which gives weights to all the repos part of deep funding. Upload that and the trades are automatically executed for you. So that's the first

way you can participate like we're not asking for donation. you're going to get most of the money back. Hopefully, if you're a good trader, you get the money back. Um, and so, so we aren't asking for donations in in like the deep funding round, but we are asking for you to become a trader. So, that's the first and the main way we hope the community participates. The second way is as a judge who resolves the market. So, what determines whether traders make or lose money in deep funding? It's an actual professional evaluator that comes in, makes a few comparisons between repos, and we use those comparisons to see which traders were more accurate or less accurate in their trades. So, if you're a smart contract auditor, if you're a a person who can actually who actually

knows open source at a deep level and can make judgments on each one's relative value, then we want you as a judge and an evaluator to provide the truth which keeps the market honest. Um, so that's the second way you can participate as a judge. The third is as a project like if you're a project, please apply for the QF round and submit your GitHub repos to take part in the deep funding round. And the last is as a funer. If you want to support Ethereum, we have given you one public key where you can send money and it gets distributed to the 100 most impactful opensource repos that are contributing to our mission. So those are maybe the four like the four ways as a funer who can allocate based on the weights the market that the market determines. Uh as

a project by applying in the round as a evaluator by making a few comparisons which keep the market honest and as a trader or model builder who can actually make money if your predictions are good. >> Thanks so much. Well, I'm really excited about the dev tooling domain. Can't wait to see how it goes. Uh, thank you both for uh, coming on the Green Pill podcast to talk about it. And, uh, for the audience, go to grants.gitcoin.co to get involved. >> Thank you so much. >> Thanks again for listening to the Greenpill podcast. If you've enjoyed today's conversation, be sure to subscribe and share this episode with a friend who cares about building a brighter future. You can find our episodes, articles, and resources at greenpill.network on YouTube or on all podcast platforms. Until next time, keep building, keep experimenting, keep

coordinating, and I'll see you next time. Peace. Hey,