I gave a talk at Zuzalu focused on the race to the bottom. What does that mean you might ask? Well, funding for public goods is a constant BD whack-a-mole. The premise for the race to the bottom is to get as close to an always on, legitimate and bountiful source of public goods funding… the bottom of the stack - the sequencer fees.
Last week, the Public Goods Network was announced! We are so excited to have a L2 where Gitcoin can (soon) run grants rounds with low gas fees, that also has the majority of sequencer fees supporting public goods projects.
I gave a talk about the race to the bottom which you can watch here: Public Goods Funding: the Race to the Bottom · Zuzalu city
You can also see my slides from the talk here.
And finally, you can learn more about PGN here.
We would love feedback and questions and please be sure to join the TG group for more info (there is no discord)!
I think its really cool that PGN exactly meets the vision that it VItalik laid out for sustainable funding for public goods.
The long-run goal is to have tx fees from L2/apps (eg. rollup MEV auctions) feeding into the matching pool directly.
I’d also say that PGN meets the criteria I laid out in this post:
- [X] Legitimate
- [X] Recurring
- [X] Well-Funded (well, it has potential to be well-funded)
which is v exciting.
Great to see you thought leadering at Zuzalu. Keen to see how PGN (and really any sustainable + recurring + well-funded sources of funding) grows.
I am happy to see GitcoinDAO taking this approach and I cannot wait to make PGN chain my default chain for TXs.
I do wonder what activity levels are required to break even on deployment and maintenance costs? Would be cool to see an ultrasound money type of dashboard for this, maybe call it UltraSound Public Goods
An ambassador program to reach out to Dapps for deployment on this chain would be essential. In absence of a token, I wonder if there is another sustainable model to drive usage to the chain.
This is an impressive initiative - and already a fait accompli. Bravo!
To @jengajojo 's point… wonder if we can settle in GloDollar? Or perhaps in lieu of a token PublicGoods Network has its own stable up its sleeve?
Anyway, great work. You guys/gals are always ten steps ahead.