Gitcoin, which allows developer payments in Ethereum for pull requests made to open source coding projects, has launched its 14th round of donation activities, which will end at 23:59 UTC on June 23. Users can access the platform to fund outstanding open source software teams.
Gitcoin is a community of builders, creators, and protocols at the center of open web ecosystems. Since 2019, Gitcoin has been an invaluable tool for communities seeking to build open source software, with over $58 million in funding going to thousands of projects. Grants rounds are the best mechanism Gitcoin has found to support people and organizations that are building the open internet and other impactful causes.
After 13 quarterly rounds of grants, Gitcoin has distributed over $60 million in total, including $40 million through grants alone. In just three years, it has helped provide funding for over 2,500 grants from tens of thousands of contributors across over 2 million contributions.
There are three important parties that participate in grants rounds. Each of these has a key role to play: matching partners, grant funders and grantees. The latest round – Grants Round 14 – kicked off on June 8 and will run through June 23, bringing together many well-known organizations from all corners of Web3.
The overall structure for Grants Round 14 involves three types of rounds: a main round with a total of $1 million in matching funds, “12+ ecosystem rounds” with a total of over $1.1 million in matching funds, three “cause rounds” with a total of over $1 million in matching funds. In total, over $1.1 million in total matching funds will be distributed to hundreds of builders.
Famous participants include JediSwap, a fully composable and permissionless AMM that enables users to swap assets and earn yields on their assets instantly in a gasless manner, Lenster, a decentralized and permissionless social media app built with Lens Protocol, and Connext Network, which is building Layer-2 micropayment infrastructure for the decentralized web.