🚧 Work in Progress
An attempt at simple quadratic funding using crypto (NEAR) for downtown businesses affected by covid-19; while learning some rust ;).
Idea
The dapp has 3 users:
- Major donors, philanthropists, local governments etc willing to offer stimulus
- Business owners seeking funding
- Individual donors willing to donate to their local favorite businesses
The dapps utilizes quadratic funding, first described by Vitalik, to realize fairer disbursement of a large sum of aid to a select set of businesses (affected by covid-19). Quadratic funding lets the public vote (by also donating) on the allocation of these funds where, the payout for each of these businesses is proportional to the square of the sum of the square roots of the individual public contributions.
For example, here is a breakdown of the allocation of $100k pledged by a donor to a group of 3 businesses in a funding round:
| Business | Funding from public | Total Public Funding | Matched | Total Public + Matched | Total |
|---|---|---|---|---|---|
| A | 2200, 800, 400 | 3,400 | 9,060 | 12,460 | 30,156 |
| B | 10000 | 10,000 | 10,000 | 20,000 | 48,405 |
| C | 100, 300, 50, 100, 300, 70, 300 | 1,220 | 7,638 | 8,858 | 21,438 |
| Total | 100,000 |
We can see that business C did get the best allocation ratio due to having more interest from the public in terms of the number of contributors. Gitcoin uses a similar matching to allocate funds provided by Ethereum Foundation and ConsenSys to sponsor awesome open source projects.
Tools
The dapp is a Near Platform dapp that allows users to vote on these businesses using their Near Tokens. The demo can be accessed at https://downtown-stimulus.surge.sh.
- React - frontend
- Near Protocol - dapp backend
Todos
- Create funding round
- Allow philanthropists to fund the round
- Allow business application
- Allow funding a business
- Implement donation and CLR matching
- Donation social media share
- Funding window closure and payout to businesses
Icebox
- Switch to Gitcoin's CLR matching to prevent sybil attacks 🤔
React
Typescript
Django
Laravel
Facebook
Microsoft
Google
Alibaba
D3
Tencent