Retro Funding Round #7: Dev Tooling
Optimism Collective
•
Apply by
31 Dec
November 2024
Dates TBA
Shaping -> tomorrow
by rewarding <- yesterday
RetroPGF (Retroactive Public Goods Funding) is a mechanism that rewards public goods based on proven impact.
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What makes RetroPGF Special
Recognition of Past Impact
It’s easier to calculate the value of completed work than to predict future impact. RetroPGF flips the grant model, rewarding work that’s already done!
Community Empowerment
RetroPGF lets communities steer the direction of public goods projects, and allocate funds to what has provided impactful value to the ecosystem.
Incentivizing Long-Term Impact
RetroPGF fosters innovation by removing funding pressures, attracting top talent from private startups, and creating sustainable paths for public goods builders.
How it works
STEP 1
A funding pool is allocated and eligibility criteria are defined
At the start of each RetroPGF round, funds are allocated from sources like ecosystem treasuries or external partnerships.
Eligibility criteria are defined to guide which projects qualify, ensuring alignment with community goals and making the process transparent for builders seeking support.
STEP 2
Projects submit applications and are reviewed
Projects submit their applications, which are evaluated based on predefined criteria.
Reviewers assess factors like impact and alignment with community objectives, ensuring only high-value projects move forward in the funding process.
STEP 3
The community votes
The community or a group of experts (e.g. Badgeholders) vote on which projects should receive funding.
The voting process is flexible, allowing different methods like Quadratic Voting to prioritize projects with broad community support.
STEP 4
Funds are distributed based on voting & distribution criteria
Selected projects receive funding based on the community vote. Distribution can be immediate or spread over time, ensuring sustainability and alignment with community-driven goals while supporting impactful work.
Projects using RetroPGF
RetroPGF in the real world
Retroactive Public Goods Funding is not a new concept. In fact, you probably came across it before with awards that recognize human achievement like the Nobel Prize.
Currently, it’s being popularized in the crypto space with projects like Optimism, who led the way when they announced their first RetroPGF round back in 2021. Since then they have distributed over $100 million dollars worth of funding! 🤯
Elinor Ostrom receives the Nobel Prize in Economic Sciences
Tools for RetroPGF
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FAQs
Find answers to commonly asked questions about RetroPGF and how it rewards projects for their positive impact on the world.
Where does the money come from?
This depends on which community or protocol is implementing that RetroPGF round. In the crypto space it usually comes from either protocol revenue, donations or yield.
Why would a project distribute a RetroPGF round?
Projects usually distribute RetroPGF rounds (or any other grants) to fund what normally does not have a revenue model (i.e. Public Goods) but encourages adoptions of their protocol or ecosystem. Rewarding those who provide value/impact to the community.
Who can vote in RetroPGF rounds?
In its short history, most RetroPGF rounds have limited voting to core community members (e.g.badgeholders) however this is not a requirement. There are applications that have used quadratic voting to allow nearly anyone to participate in RetroPGF (e.g. Potlock) or applications that strike a middle ground that allow a broad stakeholder groups to participate with different levels of influence (e.g. Pairwise).
How are funds allocated in RetroPGF rounds?
This depends on the criteria set by a particular RetroPGF round. Sometimes there is a “theme” to the round, and a set criteria of what impact or metric determines how much funding a project could receive. Sometimes it is more broad, and completely subjectively allocated by voters.
Where can I stay up to date on Retroactive Public Goods Funding?
Sign up for our newsletter here, and follow our community on X where we share updates on funding rounds and everything happening in the web3 RetroPGF ecosystem.
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Upcoming Grants
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Past Grants
