Open-source software forms the backbone of the blockchain ecosystem, supported by a global community of developers who come together to make the industry’s underlying infrastructure more secure, functional, and easy to use. Public blockchains like Ethereum and much of their dApp infrastructure act as public goods that allow anyone with an Internet connection to plug into a global economy, access services that were previously unavailable to them, better monetize existing resources, and use deterministic smart contract-based applications powered by cryptographic truth.
In support of open-source development, we are proud to announce that we are joining the upcoming Gitcoin Grants Round 12 as a matching partner. Our financial contributions will go towards the development of Ethereum infrastructure and tooling that the community regards as most important through Gitcoin’s quadratic funding model. Gitcoin funding rounds financially incentivize developers to build key infrastructure such as Ethereum clients, open-source programming libraries, testing suites, monitoring tools, improved user interfaces, and deployment tooling. Gitcoin rounds also support the maintenance of existing critical infrastructure that thousands of developers and users rely on to keep the Ethereum dApp ecosystem secure and operational.
Our support of Gitcoin Grants Round 12 is part of our continued effort to financially support blockchain and smart contract developers across the ecosystem. Previous efforts include joining previous Gitcoin Grant rounds, arranging bug bounty programs, and organizing hackathons. Additionally, the Chainlink Community Grant Program provides key resources to the many development teams and researchers building a more secure and functional Chainlink network. We encourage talented individual developers and development teams to apply to the grant program here, or if you are an academic researcher and want to collaborate, contact us.
Supporting Decentralized Infrastructure With Quadratic Funding
In addition to Gitcoin being the most successful public goods funding endeavor on Ethereum and consistently inspiring participation from the wider community, Chainlink continues to take part in Gitcoin Grants in large part due to its usage of the quadratic funding model. Quadratic funding works by prioritizing projects with the largest number of individual donors, ensuring that all Ethereum community members can determine which projects have the most impact and deserve funding regardless of the amount of capital given by any individual donor. Gitcoin also employs several Sybil-resistance mechanisms to mitigate voter manipulation.
Ethereum and other blockchain ecosystems are fundamentally changing how we coordinate economic activity on the Internet and paving the way to a more economically fair world where decentralized infrastructure enables agreements backed by cryptographic truth. With this decentralized infrastructure relied upon by thousands of smart contract developers and users across the world, we think it’s critical that there is sufficient funding available to support it.
Thanks to the maturation of the blockchain ecosystem, we are seeing a flourishing decentralized finance (DeFi) ecosystem that is challenging traditional finance; non-fungible tokens (NFTs) reaching mainstream appeal and redefining digital ownership; and a growing diversity of hybrid smart contracts leveraging open-source infrastructure to create feature-rich applications in insurance, gaming, and more. We look forward to funding the development of more key blockchain-oriented infrastructure, as well as empowering smart contract developers through Chainlink decentralized services.
How to Join Gitcoin Grants Round 12
There is still time to propose a project to be eligible for Round 12 funding. You can do so here.
Gitcoin Grants Round 12 will begin on December 1st and finish on December 16th. You can find more information here.
We want to thank the Chainlink community and the wider blockchain ecosystem for their passionate support and continued efforts in building high-quality open-source infrastructure. We’re honored to provide developers everywhere with the decentralized services they need to create hybrid smart contracts that improve lives around the world.
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