Gitcoin: Gitcoin Grants 20 will be launched, providing over $1.4 million in matching funds

According to ChainCatcher news, Gitcoin, the Web3 public product crowdfunding platform, announced that it will launch the 20th round of Gitcoin Grants (GG20 for short). This round of GG20 will return to its original intention and focus on funding open source software (OSS) projects in the Ethereum ecosystem. Of the total $1.4 million in matching funds, $1 million will be earmarked for four major OSS categories, including hackathon alumni, decentralized applications and applications, developer tools and libraries, and Web3 infrastructure; nearly $500,000 more will be earmarked Five community independent rounds will be allocated.

It is worth mentioning that GG20 will be implemented on the second-layer expansion solution Arbitrum for the first time. Through the Thank ARB campaign in partnership with Thrive Protocol, Arbitrum will provide additional capital injection into the OSS matching fund pool and fully support projects participating in GG20. At the same time, Gitcoin Passport’s anti-Sybil attack mechanism will also be fully upgraded. Donors no longer need to manually collect stamps to obtain higher protection against Sybil attacks, which greatly lowers the threshold for participation.

It is reported that GG20 will officially start donation at 12:00UTC on April 23, and the deadline will be 23:59UTC on May 7. Since 2019, Gitcoin Grants has successfully helped more than 3,500 projects raise more than $60 million in funds, making it the largest quadratic fundraising (QF) event in the world.