Gitcoin Grants – Quadratic Funding for the World

Gitcoin Grants is a platform that utilizes quadratic funding to support public goods projects around the world. Quadratic funding is a mechanism that allows for the fair distribution of funds based on the number of individual contributions rather than the amount of money donated. This ensures that smaller projects with a larger number of supporters have a chance to receive funding.

The concept of public goods is divided into two categories: exclusive and non-exclusive. Exclusive goods are those that can be enclosed or restricted, such as food, clothing, and consumer goods. Non-exclusive goods, on the other hand, are those that cannot be enclosed or restricted, such as air and natural resources.

Gitcoin Grants defines public goods as goods that are both non-exclusive and non-rivalrous, meaning that access to the goods cannot be denied to anyone and one person's use of the goods does not diminish the use of others. This definition ensures that the projects supported by Gitcoin Grants align with the principles of public goods.