A quick editorial note:
We unfortunately had to postpone the publishing of the Glow deep dive, but hope to get it out this week.
With Gitcoin Grants 23 (GG23) applications opening today, the ReFi space finds itself once again without a dedicated funding round. Some projects will be eligible for the open-source software (OSS) rounds, but most will find themselves looking for alternative grant opportunities (of which there are few).
One of the things we've been working on this year is the concept of ergodic ecosystem investing (EEI). More on that in a future edition, we promise, but for now, we want to talk about syndicates as a precursor to an ergodic ecosystem. Specifically, a group of projects applying for grants as one and splitting the proceeds.
The idea is attractive for a couple of reasons:
1) It increases the donor pool and decreases the shilling burden
2) The amount received per project will be, on average, higher than if the projects go it alone
An example would be a syndicate of impact verification projects. They are all working towards the same goal and would see a net benefit by banding together. And with tools like Splits that automate the allocation of funds per project, the logistics of syndicates aren't as intimidating as they might seem. As far as we can tell, the most challenging parts are figuring out how to split the proceeds and how to handle conflict/poor performance.
The reality is that ReFi projects are going to have to start innovating and experimenting with how they apply for grant funding. We, for example, find ourselves dreaming of a ReFi content syndicate. It tends to be difficult to raise funds as a content producer, both because there aren't many grant rounds available and because the work often isn't valued as much as the projects making direct impact. Together, though, our impact is much greater and our grant vector much wider.
It remains a dream for now but it's something we'd slowly like to work towards this year. We will be sure to share our learnings along the way in case other projects would like to do the same.
Starting today until April 1st, we'll be participating in a fundraising round on Giveth. If you like the work we do, we'd sincerely appreciate a small contribution. With quadratic funding, even a $1 contribution can go a long way.
Our account was suspended last July and we haven't been able to create a new one until now.
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From our Impact Dashboard:
Next Edition: A deep dive into Glow by Louise Borreani and Pat Lawson of Ecofrontiers
In Two Weeks: Idea to impact with Trinity Morphy
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