[Case Study] Gitcoin Grants Round 24: Evaluating the Impact of Quadratic Funding on Public Goods Allocation #137
Description
Metadata
- Slug: gitcoin-gg24-quadratic-funding
- Short Description: An analysis of Gitcoin Grants Round 24 and how quadratic funding influenced capital allocation toward community-supported public goods.
- Tags: gitcoin, gg24, quadratic-funding, public-goods, ethereum, grants
- Featured: false
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Description
Background
- Project Name: Gitcoin Grants Round 24 (GG24)
- Platform Used: gitcoin-grants-stack
- Mechanism Type: quadratic-funding
- Funding Date: 2024
- Status: Success
Gitcoin Grants Round 24 (GG24) was conducted as part of Gitcoin’s ongoing public goods funding initiatives within the Ethereum ecosystem. The round aimed to address a common issue in open-source and public goods funding: capital concentration. In traditional funding models, large donors often have disproportionate influence over outcomes. GG24 used Quadratic Funding (QF) to better reflect broad community support rather than pure donation size.
The goal was to allocate matching funds in a way that prioritizes the number of unique contributors supporting a project, instead of rewarding only high-value individual donations.
The Mechanism / Program
GG24 implemented Quadratic Funding as its primary matching mechanism. Under this model, matching funds are distributed based on the square of the sum of the square roots of individual contributions.
This structure gives greater weight to projects supported by many contributors. For example, ten contributors donating small amounts can generate more matching than one large donor contributing the same total amount.
To reduce risks such as Sybil attacks (multiple fake identities used to manipulate matching), identity verification tools such as Gitcoin Passport were integrated. Contributors were encouraged to verify their identities to improve trust scores and protect the integrity of the round.
Funding pools were divided into thematic categories, including infrastructure and community-focused initiatives.
Outcomes
- Thousands of contributors participated in the round.
- Millions of dollars in matching and direct contributions were distributed.
- Projects with broader grassroots participation received proportionally higher matching allocations.
- Increased use of identity verification tools compared to earlier rounds.
GG24 demonstrated that Quadratic Funding can meaningfully shift capital allocation toward community-backed initiatives. However, visibility and community engagement still played an important role in determining final outcomes.
Lessons Learned
- Broad participation significantly impacts matching results under QF.
- Sybil resistance remains an ongoing challenge and requires continuous improvements in identity verification.
- Contributor education improves trust and participation quality.
- Funding mechanisms influence contributor behavior and project outreach strategies.
Overall, GG24 reinforced that funding design shapes ecosystem outcomes. By prioritizing participation over donation size, quadratic funding encourages wider community involvement in supporting public goods.
Sources
- Gitcoin Grants documentation
- Public Gitcoin blog posts discussing GG24
- Ethereum ecosystem funding reports
Related Apps (Optional)
- gitcoin-grants-stack
Related Mechanisms (Optional)
- quadratic-funding
Related Case Studies (Optional)
Related Research (Optional)
- plural-funding-mechanisms
Related Campaigns (Optional)
- gg24
Submission Checklist
- Short description is clear and concise
- Tags are provided
- Description is comprehensive
- Related mechanisms/apps are listed (if applicable)