GG23 is piloting metrics-based retro funding to reward mature OSS projects based on real, measurable impact on the Gitcoin Community. At Open Source Observer, we collaborated closely with the Gitcoin team to design a transparent, data-driven metrics framework rooted in verifiable public data — including Allo GMV, donor engagement patterns, and GitHub activity. Our goal was to help badgeholders make informed decisions by surfacing clear signals of long-term impact.
Instead of voting on individual projects, badgeholders will vote on a set of impact metrics with their weights applied across all projects. This helps reduce voter fatigue and allow funding decisions to focus on outcomes rather than popularity. The metrics have been selected to reduce over-reliance on any one indicator and the combination of the metrics provides a more nuanced evaluation of impact​.
Our Three Core Objectives
The metrics fall into three buckets, aligned with the strategic goals of the Gitcoin Grants Program:
- Ecosystem Growth (Allo GMV)
- Donor Base Expansion & Loyalty
- Builder Participation & Retention
Let’s break them down 
Note: All metrics are captured for the time window since GG18, effective 1st August 2023 through 31st January 2025
1. 
Ecosystem Growth (Allo GMV)
This section focuses on how well a project engages with Gitcoin’s infrastructure, leverages matching funds, and shows up in diverse funding contexts.
We track this using two key metrics:
GMV in Matching Funds
- What it tracks: The total matching funds a project has received in Gitcoin OSS rounds (GG18–GG22).
- Why it matters: This is a proxy for how effectively a project has mobilized community support via Quadratic Funding and contributed to the growth in Allo GMV.
- How to read it: Consistent high matching funds often signal substantial grassroots alignment, reflecting a combination of breadth (number of contributors) and depth (donor conviction and contribution patterns) . This is not just about being “popular” — it’s about demonstrating sustained relevance over time, across multiple rounds and changing funding dynamics.
Community Round Participation
- What it tracks: The number of non-core Gitcoin rounds (i.e., community-led rounds) a project has participated in and received matching.
- Why it matters: Community rounds are decentralized and often ecosystem-specific. Participating in these rounds shows a project’s ability to build relationships outside the core Gitcoin Grants program.
- How to read it: Projects with broader round participation demonstrate adaptability, initiative, and value that extends across domains.
Together, these metrics answer:
- Has the project consistently demonstrated its ability to attract community support?
- Is it active across diverse, decentralized funding opportunities?
The best OSS projects aren’t just functional — they’re ecosystem-aware. These metrics help us recognize projects that contribute to the network effect of Gitcoin, grow Allo GMV, and support the long-term vision for diverse communities to fund what matters to them.
2. 
Donor Base Expansion & Loyalty
Funding in Gitcoin Grants isn’t just about raising money — it’s about building trust and cultivating a committed community. Gitcoin Grant donors are a project’s earliest validators, signaling credibility and community relevance. The strength of that donor base can reveal a lot about a project’s reputation and ability to keep delivering.
This section explores how well a project maintains and grows its donor relationships.
Donor Retention
- What it tracks: The number of unique donors who contributed at least $0.90 to a project in two or more OSS rounds.
- Why it matters: When a donor returns across multiple rounds, it indicates more than just goodwill — it reflects belief in the project’s current direction, confidence in its progress, and a desire to see it succeed.
- How to read it: In a public goods funding environment, where attention and funding are limited, returning donors act as ecosystem validators reflecting the project’s ability to maintain relationships, communicate progress, and continue earning the support of its backers.
Donor Growth
- What it tracks: The number of first-time donors who contributed to the project in GG19, GG20, or GG22.
- Why it matters: New donor acquisition is a sign of increasing visibility, relevance, and resonance in the ecosystem.
- How to read it: High growth here means the project is reaching new communities and appealing to fresh audiences — a sign that it’s not stagnating.
Average No. of Grantees Supported Per Donor
- What it tracks: The average number of other projects each donor to this grantee supported.
- Why it matters: This metric captures ecosystem overlap. It tells us whether a project’s donors are deeply engaged in Gitcoin Grants as a whole or primarily backing just one initiative.
- How to read it: Higher values indicate that the project is part of a broader donor pattern, suggesting more substantial alignment with the public goods ethos and better integration into the Gitcoin ecosystem.
In essence, this section asks:
- Is the project building lasting relationships with its supporters?
- Is it growing its reach over time?
- Is it part of a larger ecosystem of aligned public goods projects?
Retroactive funding isn’t just about what you’ve built — it’s about who you’ve brought along with you. These donor metrics reward projects that foster community, earn trust, and contribute to the broader funding fabric of Gitcoin.
3. 
Builder Participation & Retention
At the heart of every open source project is its developer community. For retroactive funding, we’re looking beyond momentary popularity — we want to understand a project’s ability to sustain meaningful developer engagement over time.
Here’s how we’re measuring that:
Active Developers
- What it tracks: The number of developers who’ve made three or more commits
- Why it matters: This tells us whether a project is still alive and actively maintained
- How to read it: A higher number reflects a vibrant contributor base. Projects with only one or two active devs may carry more risk, while those with multiple contributors signal healthy collaboration and resilience.
Developer Retention
- What it tracks: The average time between a developer’s first and last commit.
- Why it matters: It captures how long contributors stay engaged, giving insight into the project’s internal cohesion and the experience it offers to devs.
- How to read it: Projects with longer retention windows tend to foster community, mentorship, and collaboration. It’s more meaningful than a simple retention rate — especially across teams of different sizes. A project where contributors stick around for months (or years) is more likely to maintain long-term stability and institutional memory.
New Contributors Onboarded
- What it tracks: The number of new developers who made their first 3+ commits after August 1, 2023.
- Why it matters: This reflects a project’s ability to attract fresh energy, grow its team, and build a culture that’s welcoming to newcomers.
- How to read it: Even mature projects should pull in new contributors. A high number here suggests active community outreach, good documentation, and onboarding practices.
Together, these three metrics give voters a well-rounded view of a project’s builder dynamics:
- Is the project alive and active?
- Do devs stick around?
- Are new contributors joining the cause?
For Badgeholders
All Retro Round projects have opted in and meet strict eligibility. Use these metrics to guide — not dictate — your decisions. Look at the data. Pair it with what you know. Fund what’s working.
The above metrics for the participating projects are available here.
What’s Next: Metrics Are a Starting Point, Not the Final Word
As we continue refining Gitcoin’s retroactive funding model, one principle remains front and center: no metric is perfect — and every metric can be gamed.
Goodhart’s Law reminds us that once a metric becomes a target, it risks losing its value. A project could inflate commit counts or chase superficial donor growth if it knows that’s what voters are watching. That’s why we treat metrics not as hard goals, but as informative signals. The goal isn’t to reward clever optimization — it’s to fund genuine, sustained impact.
Going forward:
- We’ll continue to diversify the metrics, so no single one determines outcomes.
- We’ll observe how projects behave in response to these incentives — and adjust accordingly.
- And we’ll work in public, welcoming community input as we refine what impact looks like in OSS.
Metrics-based funding is powerful — but only when paired with iteration, context, and collective wisdom. This round is a step forward, not a finish line.
