Gitcoin Grants Earn Massive Institutional Backing

Gitcoin moves to empower deserving projects and causes, intending to shape a better future for Web3.

By
Chung Yee
on
June 11, 2022
Category:
DeFi

Born, Validated, and Funded

Gitcoin kickstarts its Grant Round 14 (GR14), which commenced on June 8 and will continue until June 23 to seek deserving projects building on Web3 to validate and fund with the support of some of the leading names in the crypto space. 

Gitcoin welcomes all types of projects through GR14, including software, tools, critical infrastructure, media, and communities. GR14 launches simultaneously with GR14 Hackathon with three types of rounds: 

  • Main round with a total of $1 million in matching funds
  • 13 ecosystem rounds with a total of more than $1.1 million in matching funds
  • Three cause rounds [with a total of over $1 million in matching funds]

Gitcoin’s ecosystem builder, Azeem Khan, in an exclusive quote to BSC.News said: 

“We’re so happy with the results of GR14 so far. The number of individual contributors to projects has been humbling, and we raised over $3m in funds to award grantees from so many amazing companies. Funding public goods are one of the most important things we can do in this space to foster an open internet in the future. It’s a pleasure to get the chance to empower a generation of builders.”
Source: Gitcoin brings to the table an impressive array of matching partners to GR14 to help builders make impactful contributions to Web3.

Gitcoin uses quadratic funding as the distribution mechanism, which is based on community participation. When coupled with matching pool funds, quadratic funding will be more beneficial for grantees.  

Interested applicants can check out GR14 Round Briefs for eligibility criteria and policies. 

Charting the Future of Open Internet

Gitcoin’s endeavor to empower communities and projects building on Web3 is supported by prominent sponsors such as Coinbase, Yearn Finance, Chainlink, and Polygon

Source: Gitcoin believes in growing networks aligned with participant benefits, and the overall system empowers community members.

The platform believes that the most immediate problem, which is funding, can be solved through open-source protocols and decentralized blockchains. Collaboration and creation are now possible using this technology to fund and build digital projects for everyone.  

What is Gitcoin:

Gitcoin is a platform that helps fund and coordinate open-source development using quadratic funding. It is a Web3 development and networking platform connecting developers to open source projects and community funding for innovative projects and impactful causes. Gitcoin has distributed over $60 million in total, including $40 million in grants alone. Gitcoin recognizes that adequate funding is the pulse that enables and empowers community builders and projects to build a sustainable ecosystem on Web3.   

Where to find Gitcoin:

Website | Blog | Twitter |

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Chung Yee

Chung Yee has a legal background and has been involved in research works for the legal and compliance industry. Writing is his passion, centered on topics such as the blockchain and finance. His largest crypto holdings are Solana, Ethereum, and BNB Token.

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