The Sei Creator Fund: Empowering Projects in the Sei Ecosystem
The Sei Creator Fund has successfully completed its inaugural round, allocating a $250,000 matching pool to projects within the Sei ecosystem, providing vital support to various initiatives.
Sei Creator Fund Overview
Launched on June 4, 2024, the Sei Creator Fund is a $10 million initiative designed to bolster projects contributing to the Sei ecosystem. The first round, powered by Gitcoin Grants Stack and Quadratic Funding (QF), distributed a $250,000 matching pool among projects focusing on decentralized content platforms, NFT marketplaces, social platforms, and more.
- Total Matching Pool: 862,500 SEI
- Total Raised by Crowd: $38,371.68 (15.35% of the matching pool)
- Number of Unique Voters: 2,707
- Number of Unique Projects: 63
- Median Donor Contribution: $1.24
- Average Donor Contribution: $14.17
- Maximum Donor Contribution: $17,139.76
These metrics showcase the significant community engagement and the diverse project landscape within the Sei ecosystem.
Funding Distribution Methodology: Cluster-Matching QF
The Sei Creator Fund implemented an enhanced version of traditional QF, known as Connection-Oriented Cluster-Matching (COCM), to guarantee an equitable allocation of funds. By grouping donors into clusters based on similar donation patterns, the COCM methodology calculated matching amounts for each unique community combination, promoting a fair and Sybil-resistant distribution of funds.
Benefits of Cluster-Matching QF
- Collusion Resistance: Minimizes the impact of collusion or coordinated voting efforts.
- Encouraging Diverse Support: Recognizes projects appealing to a wide array of communities.
- Balancing Independence and Cooperation: Acknowledges community structures while rewarding broad appeal.
Gitcoin’s Role in Pioneering COCM
Gitcoin has spearheaded the development and implementation of Cluster-Matching QF, introducing this approach during Gitcoin Grants Round 18 (GG18) and refining it over time. By adopting this methodology, the Sei Creator Fund ensures an equitable distribution of funds, striking a balance between projects with numerous unique supporters and those with varied, interconnected support bases.
Milestone Tracking Using GAP
The Sei Foundation partnered with Karma GAP to monitor grantees’ progress and facilitate sharing updates with the community. Grantees must utilize Karma GAP to establish milestones and provide progress reports, ensuring transparency and accountability. All projects will be synced to the GAP platform, enabling grantees to add milestones and updates upon completion, a requirement for future funding rounds.
Grantees who share progress and demonstrate efficient fund utilization via milestone tracking remain eligible for future rounds, promoting accountability and transparency within the Sei ecosystem.
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