Gitcoin Alpha: Fantom Results & Recap
Fantom successfully completed their first Quadratic Funding round on the Gitcoin Grants Stack. Revamping the Fantom Incentive Program with more avenues for community feedback and transparent funding, Fantom used Gitcoin’s new open funding protocol to distribute 125,000FTM in matching incentives to support projects building on Fantom. The stack was used to manage applications from community projects, as well as a week-long quadratic funding contribution period where the community donated around 240,942 FTM to over 85 projects.
“This marked a shift in how the Fantom Foundation operates and is one of our biggest initiatives so far. We’re introducing a lot more decentralization in our governance, and becoming truly community-driven,” said Juan, head of marketing at the Fantom Foundation. “It was a great outcome: we feel we can use Gitcoin’s Allo Protocol as part of our growth plan, and that it provided a huge piece of the puzzle.”
The Fantom Foundation team is diligently working through the payouts process for Fantom Grantees, including partnering with Gitcoin’s fraud detection and defense team to ensure all results are legitimate. The Fantom Foundation team will be in consistent email communication with grantees about fulfilling matching funds.
What’s next for Gitcoin? We’re aiming to scale up the impact of Quadratic Funding through an open funding protocol any community can use to fund their shared needs: the Gitcoin Grants Stack. Gitcoin’s Grants Stack allows program managers to create, manage, and grow a successful grants program from start to finish. Stay tuned for the launch of the MVP of our stack at ETHDenver.