Sei and Gitcoin Launch $250k Creator Fund to Boost SEI Ecosystem

In
a
significant
move
to
foster
innovation
within
the
SEI
ecosystem,
Sei
and
Gitcoin
have
announced
the
launch
of
the
Sei
Creator
Fund,
which
will
support
the
rollout
of
SEI
v2.
According
to
the
official
Sei
blog,
this
initiative
aims
to
accelerate
the
growth
and
development
of
the
SEI
ecosystem
through
multiple
rounds
of
funding,
beginning
with
a
$250,000
matching
pool.

Quadratic
Funding
Mechanism

The
first
round,
dubbed ‘The
Kickoff,’
starts
on
June
4th
and
employs
a
quadratic
funding
(QF)
mechanism.
QF
is
a
unique
crowd-funding
approach
where
community
members’
donations
act
as
votes
to
allocate
funds.
This
method
pools
small
donations
from
many
contributors
and
matches
them
with
larger
amounts
from
a
central
fund
provided
by
the
SEI
Foundation.
Unlike
traditional
funding
models,
QF
rewards
projects
based
on
the
number
of
contributors
rather
than
the
size
of
individual
donations,
thus
promoting
community
participation
and
shared
ownership.

Gitcoin’s
Proven
Track
Record

Gitcoin
has
established
itself
as
a
leader
in
funding
Web3
projects,
having
allocated
over
$60
million
and
garnered
4.2
million
donations
while
onboarding
more
than
300,000
developers
into
the
crypto
ecosystem.
With
the
Sei
Creator
Fund,
the
SEI
community
can
now
actively
participate
in
directing
grant
funding
and
shaping
the
future
of
the
ecosystem.

Creator
Fund
Rounds
and
Eligibility

The
Sei
Creator
Fund
will
operate
in
multiple
rounds,
each
with
specific
criteria,
deadlines,
and
funding
limits.
Each
round
will
utilize
the
Gitcoin
Grants
Stack,
combining
quadratic
and
retroactive
funding
mechanisms
to
democratize
the
grant
program.

Eligible
participants
include
creators,
builders,
or
innovators
contributing
to
the
SEI
ecosystem.
Projects
that
can
apply
range
from
decentralized
content
platforms
and
NFT
marketplaces
to
Web3
creative
tools
and
infrastructure.
Proposals
must
demonstrate
community
engagement,
technical
feasibility,
and
ethical
standards,
among
other
criteria.

Evaluation
Process

A
committee
led
by
SEI
representatives,
in
collaboration
with
Gitcoin,
will
review
proposals.
Projects
will
be
evaluated
on
their
adherence
to
the
eligibility
criteria,
potential
impact,
and
alignment
with
the
objectives
of
each
funding
round.
The
goal
is
to
onboard
as
many
projects
as
possible
to
support
diverse
initiatives
within
the
SEI
Creator
Economy.

How
to
Apply

Interested
parties
can
create
a
profile
on
Gitcoin’s
Builder
platform
and
apply
through
the
Grants
Stack.
Applications
for
the
first
round
open
on
Tuesday,
June
4th,
at
9
AM
EST.
The
application
process
aims
to
be
straightforward,
enabling
both
new
and
existing
projects
to
seek
funding
effectively.

How
to
Vote

Community
members
can
participate
in
the
voting
process
by
reviewing
live
applications
and
donating
to
their
preferred
projects
starting
June
4th
at
9
AM
EST.
Each
donation
acts
as
a
vote,
guiding
the
allocation
of
the
$250k
matching
pool.

Significant
Milestone
for
SEI

This
initiative
marks
a
major
milestone
for
the
SEI
ecosystem,
leveraging
Gitcoin’s
extensive
experience
in
funding
Web3
projects.
Notable
projects
that
have
benefited
from
Gitcoin’s
funding
include
Uniswap,
1inch,
and
WalletConnect.

For
further
details,
visit
the
official
Sei
blog
[source
name]here.

Image
source:
Shutterstock

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