GCC Workshop: Exploring Sustainable Funding for Public Goods

uh welcome to GCC Workshop uh exploring public goods funding mechanisms for sustainability and I'm Bruce from Alex doll Alexa is r d focused stuff for sustainable supporting variable public goods and this is our website we are partner of GCC so we are very happy to be invited for this Workshop yeah so uh what is GCC GCC stands for universal digital Commerce or Global Chinese Community which is a Glo organization to attract greater participation from Builders especially in Chinese speaking world and to push the forward of the public goods and also GCC has funded the git coin grants runs and also supported some projects like uh saw wallet what the academy uh eyes Etc and what is web 3 public goods so web3 public goods refers to resources or tools in the decentralized web3 ecosystem that are freely accessed to everyone and the benefit the entire community so examples including open source software decentralized the protocols and educational content Etc so these schools are typically funded by the community or grants promoting the more open and user-centric web so basically that's general idea of web Republic rules but there are a lot of challenges for funding website public goods like for example most popular public goods like a profit model that also face challenges in securing funding and donations can only provide a small amount of unstable funds and the majority of the web Republic Goods projects has low visibility and impact so those are challenges for funding for web 3 Public Funding uh therefore I'm happy to present some solutions uh today so hopefully it's gonna give you some idea for what you're working on and for this hackathon so the first solution is donation uh yeah so it's a it's a it's the most common way for funding public goods so the advantage of the advantage is are like daughters has have no expectations so which means you have less stress from to make it to make profit from your product and it's very simple and straightforward so basically you just put your address on the page or in your the app uh the uh accept the tokens or something like that but there are also these advantages like uh normally the there will be small amounts and unstable sometimes maybe you you're promoting your product then you might get a lot but later you want to receive something uh yeah so there are some examples for this uh Direction so like don't need three so it's uh it's a project for making donation easier uh so basically you can create a widgets and easy to use install on your website or put it on the article and people can just click donate to your address by clicking this button to make it easier and also you can get a donation uh certificate or sort of things so to to say Okay so this transaction is for donation purpose so uh for the possible actions for this direction uh you could build like easy to integrate donation infrastructure like for example you could post some donation link on your Twitter profile on The Social Network or something like that in your article or also you could generate some QR code so that people can scan the code then transfer the token to your address to make it easier and also there are still donations and meta addresses so this idea like you you could provide a better uh you could increase the Privacy for users to making donation to public goods to make the user experience better if they don't want to show their address or something like that cool so the next solution is a critical funding chronological funding uh is a crowdfunding mechanism that amplifies available resources by inviting community members to make donations because more both funds that act as a vote on on where to allocate funds uh the broader the support the bigger the match so this uh yeah I I strongly suggest you to open this website I have put a link on this title it provides some easy to understand example and the calculator so you will be able to understand how it works so basically it's an equation that more people donate to some product that project gonna get more from the grants pool so therefore uh you're using this way to vote for the available public goods to fund so the advantage is this is the fair crowdfunding mechanism uh so uh you could get if there are more people uh like your product or benefit from your project uh you will get more funding but the disadvantages are like Matthew uh effect and stable attack so basically uh because due to the equation uh if you have a famous product if your product created a lot of impact has a lot of followers so you might get a much more than the product like still in the early stage or not have many users uh some sometimes this makes sense but sometimes for it's not it's unfair for some uh early stage public goods because they're they need more funds than the mature public goods and also uh civil attack so basically I could spread my money into some addresses because it's a really hard to attract uh uh so so I could split my token into different addresses then don't need to this project to get uh better to get much much more funding so this is a very common uh disadvantages so here are some examples like Bitcoin grants this is the most famous one uh so if you yeah so at the moment you can still donate to some projects and we also have GCC around on bitcoin so if you would like to donate feel free to check it out and they saw op this time so the gas space is nearly zero uh yeah and there are other platforms also based on Creative funding so possible actions so we could build like better strategy or a mechanism to detect several Sable attack like using by using AI or machine learning Tool uh yeah so it's gonna be better provide a better user experience and the next solution is retroactive public goods funding uh so yeah just as its name so it's a retroactive uh which means the advantages are like high efficiency from utilization uh because it's a retroactive so which means you have to uh finish the public goods the project and promoting promoted this product to get as as many as users to generate a real impact so that you you will be noticed by the community or the organization that you will be able to get the funds so the reverse those who generally contribute or projects that make a real impact so because there are some application or some projects they receive the grants but somehow they stop the work so this kind of loss for the fund uh but the disadvantages like uh it will be a very long cycle to obtain funds because you have to finish the public goods first then you have to promoting it and after you created a lot of impact then you will be able to get retroactive funds um yeah it's going to be long uh long cycle like maybe month is or even years who knows and most fans tend tend to flow to well-known products it's a candle like Matthew effect issues so because it's also like a a distributed based on impact so therefore if you are you have a well-known product you might get a lot but uh from like uh the founding perspective you might not need those funds if we allocate those funds to some early stage but with potential to grow up to create a positive impact uh public schools there might be more effective for using these funds um yeah so the most famous example is optimism uh public goods funding so in short this is going to build a close the loop so basically the sequencer generates Revenue users using Optimizer layer 2 the sequence are going to generate revenue and they will distribute those Revenue to the the public goals or the ecos system applications Etc so they can develop their product they can attract more users create more uh use cases on the blockchain so therefore they're gonna have more users to use optimism and create a more and help the sequencer to generate more Revenue so it's going to be a uh close the loop uh yeah so this uh makes a lot of sense and in this way um the Possible's actions might be like end to and down uh public goods funding system and the public good Credit Systems because it's a because uh because this is gonna uh the community need to like retroactively vote for those products who create a real impact they think so therefore it's uh they might need more information not just from like Twitter followers or other metrics so it's good to have like credit system to show to show that okay so these public goods is actively actively uh deploy development and promoting or creating substantial influence uh something like that so it's gonna provide a better or more information for the community to make a make the right decision yeah and the next solution is the contract secure the revenue which is CSR uh so in short because we deploy our DF of contract on the blockchain on the network and if some user if if users uses our uh you use our uh D app they're gonna pay guest fee uh so in CSR the idea is to share the guest fee to the the app uh Creator or developer so in this way it's going to create a sustainable Revenue through protocol usage but there are also disadvantage like there must be a lot of usage to get it up and running so uh on this blockchain or on your product there must be a lot of users to use and pay for the guest fee or P4 or something then you can get enough uh enough Revenue to sustain right so there are some examples like Erp 69668 so basically this EIP is to bring this idea into ethereum ecosystem uh yeah feel free to check it out and there there is another public goods Network which uh created by git coin based on this uh this EIP or based on uh op stock with this EIP implementation so this is going to be like a digital shelling point that the near to the first layer to to create uh public goods so yeah so this is a very good experiment for sustainability but there are still a lot of details in progress working in progress so yeah So speaking for this way the possible actions I actually I don't have much idea on this yet so I'll leave it to you so the final solution is issuing tokens yeah this is a most uh web3 Native way to for the product to collect like to to get some funds or share the the product with the community uh yeah something like that so the advantage is like sustainability can be achieved through tokenomics but the disadvantages are like some compliance or legal risks you need to like uh yeah take the risk and also Public Schools hard to support token value because they are normally free access or open source so sometimes it's very hard to make a lot of profit and also to support the token value so there are some examples like Bitcoin GTC so it's it's a token to for from Bitcoin so the possible actions is like a large scale funding flow infrastructure uh so basically because you are gonna use your token so you uh will need to have some uh infrastructure like for for you to uh staking or to manage the funding or uh yeah uh sort of things so basically uh you could build based on this for like uh some easy version of token management system for small product or some platform for the specific specifically for public use so that people can know okay which public goods has generated their token if you like it you can buy some for supporting that yeah okay so that's pretty much for the uh some common solution uh yeah I think there are more solution but feel free to share with me and GCC uh yeah cool so that's uh pretty much it for this short Workshop hopefully I can bring you some idea for solving the founding sustainability issue and yeah you enjoy your hackathon uh also if you would like to know more feel free to check out our website and also follow our Twitter you can you can also scan this QR code to follow up Twitter okay cool thank you cheers bye