GG19 Quadratic Funding Result
We’re pleased to announce that our “Realtime Climate Data Market (RealClime)” project received an astonishing amount: $1,863 of funding. Heartfelt thanks to all our donors! 🙏
Stats
• In total 111 people/entities donated to our project.
• Initial donations in this round totaled up to $145.42.
• That was quadratically multiplied by Gitcoin QF* to become $816.
• Then we received $1,047 of more-than-matching funds from Shell.†
It’s really quite impressive. Simply by listing our project on the Gitcoin platform we received 1,863 Dollars (DAI) with ‘no strings attached’. Kudos to Gitcoin. Their ever evolving funding platform is a resounding success.
For the Climate Solutions round we think the gathering of forces into a focused community (see the previous post Fostering a Climate Action Ecosystem) gave a big boost to the funding. People are highly supportive of like-minded projects and this formed an exponential multiplier in itself. There was an outpouring of support for kindred climate initiatives. We funded 48 climate projects and 8 in other categories.
We’re grateful for the financial support. The funds are not enough to achieve our goal but inspirit us to continue our work. In the meantime we’ll invest the DAI in an Idle Finance pool. We did that last time and our Realized APY is 14.39%. We’ll report progress here and on our socials.
Notes
* Quadratic Funding = Wisdom of the Crowds. Quadratic funding is the mathematically optimal way to fund public goods in a democratic community.
† The addition of the funding from Shell to GG18 and GG19 has been contentious. Allowing Shell, one of the world’s greatest enablers of pollution, to donate money to climate solutions has a definite dark side. The company can use it as a kind of greenwashing, trying to improve its sullied image while it continues to reap profit from fossil fuel extraction. Our thinking is that consumers will see through that. Shell is attempting to transform itself into a clean energy company. If it donates $150k to projects that improve the environment then we should take advantage of the support.