'Reviewing the Gitcoin Grants Round 5' gitcoin blockchain
The main source of opposition was basically what I predicted in the previous round. Adding a mechanism that allows people to penalize others, even if deservedly so, can have tricky and easily harmful social consequences. Some people even opposed the negative contribution mechanism to the point where they took care to give positive contributions to everyone who received a negative contribution.
However, we do need to think through some of the second-order consequences that integrating MACI would introduce. The biggest blessing, and curse, of using MACI is that contributions become hidden. Identities necessarily become hidden, but even the exact timing of contributions would need to be hidden to prevent deanonymization through timing . Instead, for example, totals could be provided and updated once per day.
The challenge with hiding contributions is that we lose the "social proof" motivator for contributing: if contributions are unprovable you can't as easily publicly brag about a contribution you made. My best proposal for solving this is for the mechanism to publish one extra number: theamount that a particular participant contributed .
Additionally, this round saw Gitcoin Grants' first foray into applications beyond Ethereum with the health section. There is growing interest in quadratic funding from local government bodies and other non-blockchain groups, and it would be very valuable to see quadratic funding more broadly deployed in such contexts. That said, there are unique challenges there too. First, there's issues around onboarding people who do not already have cryptocurrency.
Round 5 of Gitcoin Grants has just finished, with $250,000 of matching split between tech, media, and the new category of "public health". In general, it seems like the mechanism and the community are settling down into a regular rhythm. People know what it means to contribute, people know what to expect, and the results emerge in a relatively predictable pattern - even if which specific grants get the most funds is not so easy to predict.So let's go straight into the analysis.
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