Gitcoin: Will launch Gitcoin Grants 20, providing over $1.4 million in matching funds

ChainCatcher news, the Web3 public goods crowdfunding platform Gitcoin has announced the upcoming launch of the 20th round of Gitcoin Grants (referred to as GG20). This round of GG20 will return to its roots, focusing on funding open source software (OSS) projects within the Ethereum ecosystem. Of the total matching funds of $1.4 million, $1 million will be specifically allocated to four major OSS categories, including hackathon alumni, decentralized applications and apps, developer tools and libraries, and Web3 infrastructure; nearly $500,000 will be distributed to five community independent rounds.

It is worth mentioning that GG20 will be conducted on the Layer 2 scaling solution Arbitrum for the first time. Through the Thank ARB initiative in collaboration with Thrive Protocol, Arbitrum will provide additional funding for the OSS matching fund pool and fully support the projects participating in GG20. At the same time, the anti-witch hunt mechanism of Gitcoin Passport will be comprehensively upgraded, allowing donors to receive higher protection against witch hunts without manually collecting stamps, significantly lowering the participation threshold.

According to reports, GG20 will officially open for donations on April 23 at 12:00 UTC, with a deadline of May 7 at 23:59 UTC. Since 2019, Gitcoin Grants has successfully helped over 3,500 projects raise more than $60 million in funding, making it the largest quadratic funding (QF) initiative globally.