TLDR
Purple to contribute 1 ETH to a matching pool for a Quadratic Funding, Retroactive Grant Round for media, art and content, highlighting Farcaster, with a focus on the topic "How We Connect." This project will be highlighted at the Friends with Benefits Brunch at DevConnect on November 17th and is a collaboration with Gitcoin, Metacartel and Bankless.
Description
Participation at Devconnect is challenging this year, but tools like Farcaster help us stay connected, whether in Istanbul or on the internet. Media, art and content, highlighting Farcaster, would be eligible for Quadratic Funding grants, using Gitcoin’s project manager.
Purple will partner with Gitcoin, MetaCartel and Bankless to bring attention to and provide funding for media projects that focus on How We Connect.
Media creators will submit their work using Gitcoin tools. The Internet community "votes" by rewarding the project with any amount of ETH on Optimism. Purple's 1 ETH will be allocated to the projects based on Quadratic Funding. This is retroactive funding for media, art and content already created and submitted.
Reasons for
With a focus on "how we connect", a media round, in collaboration with value aligned organizations, including Gitcoin, MetaCartel and Bankless, with encouragement for showcasing the benefits of Farcaster, this has the potential to bring more users, creators and builders onto Farcaster, as well as raise awareness of Purple.
This is a small test of Quadratic Funding to better understand the kind of participation it drives and how Purple can use QF in the future. Learnings from testing this hypothesis will be shared with everyone at Purple and the Farcaster Community at large.
Purple has underinvested in content and media to date and this is a way to experiment with retroactive funding content and media.
Purple would be contributing 1 ETH towards a goal of a 2 ETH pool, with Metacartel matching Purple's contribution of 1 ETH. Purple members and Farcasters users are eligible to submit and be rewarded from the pool.
Risks & Potential reasons against
Multiple DAOs have proposals up, namely Purple & Metacartel, which provides some coordination risk. If the QF round is not executed, for whatever reason, funds will be returned to Purple.
Due to the public nature of the QF round, some of the funding will potentially go to people who are not in the Farcaster Community. While ideally all of Purple's commitment would go to the FC community, this could also translate to new contributors to Purple and Farcaster, as well as the Farcaster community receiving grants in excess of the 1 ETH contributed.
Team
ccarella, with support from Sov and Owocki at Gitcoin, BorrowLucid at MetaCartel and Chones, and jengajojo at Bankless
Budget
1 ETH
All funds go towards a matching pool in the Quadratic Funding round.
If the QF round is not executed, for whatever reason, funds will be returned to Purple.
The Multisig
Funds will be sent to the following 2/3 multisig: 0x455fd3B375ac86cbcddb7cCA1ceD7DdF6FbD1eD6
Signers are:
Public Description
As we all come together for Devconnect, we recognize that many of us will be participating virtually. With the support of Purple, let’s celebrate the ways that we connect, especially when circumstances provide challenges for sharing space. Also, thank you to MetaCartel for their support!
Please create projects for this Quadratic Funding round that showcase media, art and content that you, or your team, have already published, on any platform, including Farcaster, which helps us stay connected, whether in Istanbul or on the internet.
Anyone with a Gitcoin Passport can signal support for their favorite media by making a donation on Optimism. A little goes a long way!
Progress
MetaCartel has a vote up to match funds and we believe it is going to pass. Bankless is looking forward to participating in the media round from their communication channels. FWB is considering a budget for an event, during Devconnect, at which the QF rounds will be shared with attendees. Gitcoin will potentially provide matching funds to create a larger round.