Yesterday, I invented a better way to finance projects, than Gitcoin grants:
The idea is just a few days of a software developer (especially, with Cursor), but I myself am too busy now. Please, somebody implement it. (Don’t forget to note in a comment to the medium post, that you’ve started to work, to avoid duplicate efforts.)
This way to spread money would be financed directly from Gitcoin treasury.
Imagine, no work to prepare grants, a fair judge, monthly or weekly payments. This is definitely better than Gitcoin Grants.
I do want to cut human participation out of the loop. That’s like medicine: When robots become better doctors than people, I don’t want a human to medically care for me.
Consider an example: Human to decide how much funding “ordering semicategory actions” (OSA) project needs. I, being the discoverer of OSA, know that it is something like 1/2 of the world economy in 30 (maybe, much less due to AI) years. How could I persuade others? (Most people have no idea, what OSA is.) AI like ChatGPT, on the other hand, knows well that ordered semicategories and semicategory actions are important and can surely conclude that OSA are therefore important. Well, no, I didn’t yet persuade AI that its 1/2 of world economy, but intellectual persuading AI would be easier than persuading humans.
You used the word “loop”. Yes, this is now a constant reiteration of creating new projects, promoting them, etc. There is capitalistic promotion of philanthropic projects in the loop and that’s bad. My AI way avoids capitalism from philanthropy.
I want both your and my way to co-exist with a share of philanthropic money on both.
You haven’t mentioned how your AI decision-maker is going to raise the funds it wants to distribute.
Let’s say you succeed in raising $1000 for your AI to allocate, and it decides OSA is worth 1/2 of the world economy. Does OSA then get half of the current funds, i.e. $500?
One nice thing about Updraft is it incentivizes crowdfunding–meaning the protocol itself generates the funds that people and agents will distribute.
Raising funds for my AI decision-maker involves such things as begging a part of GitCoin treasury, GitCoin and Giveth projects, etc. Also, it will be a donate button on the site.
1/2 of world economy != 1/2 of well-being. Probably, a longevity project can be 80% of well being, despite of being a tiny part of world economy. Accordingly my current understanding, the AI should decide how much to give by itself, rather than first calculate a share of world economy and then allocating this share.
And one unnice thing about Updraft is that it requires up-front payments to raise funds.
Also it would not be 50% of the treasury for a project producing 1/2 of world economy, because big value projects may not sum (like 1/2+1/2=1) but multiply (like 1/(1/2) * 1/(1/2) = 2*2 = 4 = 1/(1/4)).
The fee to raise funds on Updraft is 1 UPD which is currently 1/1000 of one dollar. It’s less than the gas you’ll pay on Arbitrum. But you can get about 1500 UPD for free from the faucet, sell some of that to get free gas tokens, and use the rest to create a lot of ideas and solutions to be funded.