Polygon Funds Web3 Development With $100,000 Pledge to Gitcoin Grants Round 14

Polygon Funds Web3 Development With $100,000 Pledge to Gitcoin Grants Round 14 

Polygon is donating $100,000 to Gitcoin Grants Round 14 to ramp up the on-going support for new projects building on the Polygon ecosystem. The core team has already pledged $1 million to Gitcoin over five quarterly grants until December 2022 in order to help and encourage the growth of Web3.

Who is eligible

Applications for the Polygon Ecosystem Round are open to anyone who meets the following eligibility criteria:

1. The Grant must support or directly advance the Polygon community and/or protocol.
2. The Grant may not have any form of quid pro quo that has financial value (a scenario in which a user gets some additional unique benefit/award in return for their donation)
3. The Grant owner must be directly affiliated with the project; the funds must go to the project; and the funds must be used for the purposes stated in the Grant’s details.
4. The Grant should be focused on accomplishing the following for Polygon:
   1. Usability – improving the user experience
   2. Community – growing the ecosystem
   3. Tooling – improving the developer experience
   4. Governance – building tools and enhancements for governance
   5. DApps – applications integrating with and supporting Polygon
5. The project should not have its own token or have raised VC funding (matching funds are reserved for the aspiring projects!)
6. The Grant should be open source

Note: There will be a 10% matching cap in this round, meaning the most matching any one grant can receive is 10% of the total pool.

A matching pool of $100,000 will be paid out in DAI. Only donations made during this round will be counted towards the QF distribution of matching funds.

Polygon holds sole discretion on which grants are eligible for matching. All disputes will be processed by the GitcoinDAO Public Goods Funding Workstream, in consultation with Polygon’s round representatives.

The Gitcoin Grants Matching Round 14 uses Quadratic Funding to help Polygon figure out how to distribute our matching pool funds democratically. Interested teams need to submit proposals describing the purpose of their project. Finally, Gitcoin community members get to choose the projects they want to fund. But instead of matching funds 1:1, QF prioritizes the number of unique contributions. 

For instance, if one project receives a single donation of $100 and another receives three donations of $33 each, the second project will take home a larger slice of Polygon’s grant. This way, Gitcoin pushes power away from whales and moneyed actors and ensures they do not attack the funding pool.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Gitcoin pushes power away from whales and moneyed actors and ensures they do not attack the funding pool.