Amplifying Impact, Multiplying Support, The Magic of Quadratic Funding

Transcript

what do uniswap optimism bankless tornado cash Prismatic labs and hundreds of other projects have in common they fundraised via quadratic funding hello all JT here say you're a Founder at a startup in ethereum it could be a dow a D5 project nft project charity or something else you believe in value first people first tools and products how do you finance your fledgling Value First ecosystem let's get started invented in 2018 by vitalik buterin Glenn Weil and Zoe hitzeg quadratic funding is a

revolutionary mechanism for democratically Distributing Capital quadratic funding is a power tool for funding what matters in your ecosystem on this table we have poker chips over here is one thousand dollars of grant money also known as the matching pool this money like any Grant could come from a large company or even a single person who wants to help fund a project idea geared toward a specific cause the applicants are competing to bring the best product forward just like any kind of bounty program additionally the whole matching pool will be spent in the end quadratic funding empowers people to fight fund what matters to them check it

out around the table here we have three projects who have been working hard on their own product pitch in order to win over the donors and receive matches from the matching pool let the campaign begin [Music] in this situation the matching pool the whales have decided to lay out a thousand dollars for funding the foods that people most enjoy to eat raw let's meet company a The Onion the onion is not very popular to eat raw have you ever eaten an onion before but somehow has managed to find a very wealthy individual who donates one hundred dollars next up Company B the Romas the Romas

have better appeal to be eaten raw as a result the Romans have six donors one for ten two for five dollars and three for one dollar each this is a total of twenty three dollars that's pretty good remember it's the number of people that donate the drive the quadratic funding mechanism so let's see who's next oh boy here we go that's right the pineapple the pineapple is a clear Banger with the people people really love raw pineapple it's so fabulous so here's the thing though no donations come in that are larger than one dollar however 15 people like raw pineapple that's great because

the more people the more the quadratic funding mechanism rewards them out of the matching pool so how does it Shape Up The Onion had one donor for one hundred dollars and was matched by the pool for a total of two hundred and twenty eight dollars in fact had this been a one-to-one style of matching pool to onion wouldn't have done as well but compared to what we're going to see out of the Romas you can see that 23 dollars ended up being a better match out of the pool as they received a total of 258 dollars congratulations to the Romans all right now the pineapple had 15 donors raised the least amount of money from the people but quadratically the ratio was so much better they had a

match for a total of 513 dollars for our absolutely fabulous pineapple [Music] so in all more than twice the people preferred the raw pineapple compared to the bromas and the onion combined with less than half of the initial donations again quadratic funding democratically uses matching pool funds to push money where the people are and guarantees that the entire matching pool is used quadratic funding has been used to fund over 50 million dollars worth of ethereum ecosystem projects so far learn more at

impact.getcoin.co what will your project be on behalf of greenpilled my name is JT cheers and big hugs from Kansas City foreign