Welcome to another exciting edition of our General Magic Monthly Newsletter! 🎊
We are delighted to present to you, once again, the latest developments in public goods and Web3 space.
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Impact DAO of the Month: Gitcoin 🟢
This month, we're honored to spotlight Gitcoin as our Impact DAO of the Month.
Gitcoin is a platform that facilitates crowdfunding for open-source software and Web3 projects. It connects developers, entrepreneurs, and creators seeking funding with individuals and organizations willing to contribute. Gitcoin's mission is to empower communities to fund their shared needs.
Gitcoin's journey began in 2017, aiming to create better incentives for supporting open-source software developers. Over time, this mission has evolved into a dedicated effort to build and sustain digital public goods. Since its inception, Gitcoin has run numerous funding rounds, including the recent GG18 that was held from August 15th to August 29th.
Gitcoin Grants operates within the innovative framework of Quadratic Funding (QF), a dynamic mechanism we'll delve into further in a dedicated section later in this newsletter.
If you're eager to explore more transformative projects like Gitcoin, don't forget to check out our website's extensive database of Impact DAOs/projects and their remarkable initiatives.
Our Magic:
August has been buzzing with excitement here at General Magic! We've been hard at work upgrading the ENS Swag Shop to bring you an even better shopping experience.
You can check the new version here: https://www.ensmerchshop.xyz/
But that's not all! In addition to this, we've been working tirelessly on design projects for our friends in the Giveth Galaxy, furthering initiatives that are making a positive impact worldwide. 🌍
🙏High Praise
This month, we'd like to take a moment to appreciate Ahmad for his diverse contributions within our community.
Ahmad's support in client relationships and legal matters has been extremely helpful, ensuring our interactions are smooth and compliant.
He's always ready to lend a helping hand to his colleagues, providing guidance and answers to improve their work.
Ahmad's efforts in bizdev and his insights in marketing have been greatly appreciated, contributing to our growth and refining our strategies.
We're grateful for Ahmad's versatility and unwavering support. Thank you for being a valuable member of our team! 🙌👏🎉
Deep Dives:
Have you ever wondered how to fund projects in a way that's both fair and inclusive? Let’s talk about Quadratic Funding (QF), an innovative mechanism that's reshaping the landscape of project funding.
Understanding Quadratic Funding (QF)
At its heart, Quadratic Funding is a mathematical marvel with a noble goal: to ensure that projects receive funding based on their community support rather than relying solely on deep-pocketed donors.
How Does QF Operate?
In simple terms, QF pools small contributions from numerous individuals and combines them with a larger matching fund. What's fascinating is that the more diverse the support—meaning more contributors rather than larger contributions—the greater the funding a project can secure.
Why is QF Significant?
Equity: QF levels the playing field by offering smaller projects a chance if they garner strong community backing, steering away from exclusive funding sources.
Inclusivity: Your contribution, regardless of its size, carries weight. This means that everyone has the opportunity to make an impact.
Transparency: QF's decisions are guided by a clear and objective formula, minimizing biases and ensuring fairness.
Community Bond: QF fosters collaboration among creators and project supporters, cultivating a sense of unity within the community.
Resilient Funding: Projects aren't reliant on a single large donor, making them more stable and less susceptible to external shifts.
Projects using QF
Gitcoin recently completed Round 18 of their Gitcoin Grants program, showcasing their ongoing dedication to web3 funding innovation. Meanwhile, Giveth marked a historic milestone last month by hosting their very first Quadratic Funding (QF) round, affirming their commitment to community-driven funding in the web3 ecosystem.
Show Your Support for Impact DAO Projects with our Merch Shop!
If you're seeking ways to stand by your favorite projects, wearing their merch is an impactful choice.
This month, we're featuring Trusted Seed swag that's all about style with a purpose.
Picture this: Your fashion choices can make a statement. Trusted Seed's collection in our shop embodies sustainability and style, blending them seamlessly.
What's in store? Fresh Trusted Seed designs that not only look good but also support regenerative economies. It's a win-win for your wardrobe and the world.
Ready to make a stylish impact? Explore the Trusted Seed collection today and wear your values! 🛍️🌿
Logs from the Giveth Galaxy:
August was an exciting month for the Giveth Galaxy as we participated in Gitcoin Grants Round 18, joining hands with some incredible projects. 🚀
Let's shine the spotlight on a few standout projects from the Giveth Galaxy:
🌌 Pairwise simplifies community decision-making by presenting users with pairs of options, making it easier than ever to express preferences.
🙏Praise is transforming online communities through gratitude and decentralized insights.
💜 Giveth is a community focused on Building the Future of Giving using blockchain technology. Their vision is to make giving effortless, to reward people all over the world for creating positive change. They've made significant progress in 2023, including the integration of donations on multiple chains and the launch of various features.
🌱 Trusted Seed is a Swiss Association supporting early-stage regenerative economies through token engineering and DAO governance. They're advancing the creation of regenerative micro-economies for public goods.
💚 Commons Stack is innovating at the intersection of culture and token engineering. They provide tools and cultural frameworks for impact initiatives to evolve into decentralized, self-governing communities.
🪙 TEC focuses on token engineering, a discipline essential for building safer and more resilient blockchain systems.
Thanks for joining us on this journey, and we'll see you next time with more exciting updates!
Best,
The General Magic Team 🪄✨
