Sei Creator Fund Concludes Successful Inaugural Round, Allocates $250,000
The
Sei
Creator
Fund
has
successfully
completed
its
inaugural
round,
distributing
a
$250,000
matching
pool
to
various
projects
within
the
Sei
ecosystem,
according
to
Sei.
Sei
Creator
Fund
Overview
Launched
on
June
4,
2024,
the
Sei
Creator
Fund
is
a
$10
million
initiative
aimed
at
supporting
projects
that
contribute
to
the
Sei
ecosystem.
The
first
round
utilized
Gitcoin
Grants
Stack
and
Quadratic
Funding
(QF)
to
allocate
a
$250,000
matching
pool
to
projects
focused
on
decentralized
content
platforms,
NFT
marketplaces,
social
platforms,
and
more.
The
funding
round
saw
participation
from
2,707
unique
voters
who
supported
63
projects
across
these
categories.
The
innovative
funding
method
implemented,
known
as
Connection-Oriented
Cluster-Matching
(COCM),
aimed
to
ensure
fair
and
Sybil-resistant
distribution
of
funds.
Key
Metrics
-
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
highlight
the
high
level
of
community
engagement
and
the
diverse
range
of
projects
within
the
Sei
ecosystem.
Funding
Distribution
Methodology:
Cluster-Matching
QF
The
Sei
Creator
Fund
employed
an
upgraded
version
of
traditional
QF,
known
as
Connection-Oriented
Cluster-Matching
(COCM),
to
ensure
a
fair
distribution
of
funds.
Developed
by
Gitcoin,
this
method
addresses
potential
issues
of
collusion
and
over-coordination
in
funding
rounds.
The
COCM
methodology
groups
donors
into
clusters
based
on
similar
donation
patterns,
calculating
matching
amounts
for
each
unique
community
combination.
Benefits
of
Cluster-Matching
QF
-
Collusion
Resistance:
Reduces
the
impact
of
potential
collusion
or
coordinated
voting
efforts. -
Encouraging
Diverse
Support:
Rewards
projects
that
appeal
to
a
wide
range
of
communities. -
Balancing
Independence
and
Cooperation:
Acknowledges
existing
community
structures
while
rewarding
broad
appeal.
Gitcoin’s
Role
in
Pioneering
COCM
Gitcoin
has
been
at
the
forefront
of
developing
and
implementing
Cluster-Matching
QF.
This
approach
was
introduced
during
Gitcoin
Grants
Round
18
(GG18)
and
has
been
refined
over
time.
By
using
this
method,
the
Sei
Creator
Fund
ensures
a
fair
and
effective
distribution
of
funds,
balancing
rewards
between
projects
with
many
unique
supporters
and
those
with
diverse,
interconnected
support
bases.
Milestone
Tracking
Using
GAP
The
Sei
Foundation
has
partnered
with
Karma
GAP
to
keep
grantees
accountable
and
help
them
share
their
progress
with
the
community.
Grantees
are
required
to
use
Karma
GAP
to
create
milestones
and
provide
updates.
All
participating
projects
will
be
synced
to
the
GAP
platform,
allowing
grantees
to
log
in
with
their
wallets
to
add
milestones
and
post
updates
upon
completion.
To
be
eligible
for
future
rounds,
grantees
must
share
their
progress
and
explain
how
they
utilized
funds
via
milestone
tracking.
Project
Spotlight
The
top
ten
projects
by
total
matching
funding
are:
-
crossover:
72,029.91
SEI -
S3
Labs:
64,288.63
SEI -
YRRRRR
LABZ!
(SEI
FUCKERS):
59,168.59
SEI -
dob:
55,294.63
SEI -
Remo’s
World:
47,492.54
SEI -
Massdrop:
46,864.87
SEI -
Frensei:
41,581.15
SEI -
Popo
The
Cat:
34,742.79
SEI -
Seipex
Finance:
34,285.24
SEI -
Katz:
24,653.59
SEI
These
projects
demonstrated
strong
community
support
and
alignment
with
the
Sei
ecosystem’s
needs,
reflecting
the
broad
range
of
initiatives
the
Sei
Creator
Fund
supports.
Impact
and
Vision
The
Sei
Creator
Fund
aims
to
support
a
diverse
range
of
projects,
building
an
ecosystem
that
caters
to
various
user
needs
and
use
cases.
As
part
of
the
larger
$10
million
initiative,
the
fund
anticipates
more
projects
will
emerge,
pushing
the
boundaries
of
decentralized
content
platforms,
NFT
marketplaces,
social
engagement,
and
more.
Looking
Ahead
Following
the
success
of
this
inaugural
round,
future
rounds
will
continue
to
build
on
this
momentum,
supporting
more
projects
and
further
expanding
the
Sei
ecosystem.
Creators,
developers,
and
innovators
are
encouraged
to
look
for
upcoming
opportunities
to
contribute
to
the
Sei
ecosystem.
Get
Involved
-
For
projects:
Stay
tuned
for
announcements
about
the
next
funding
round. -
For
community
members:
Keep
supporting
projects
that
excite
you
and
help
shape
the
future
of
the
Sei
ecosystem. -
For
everyone:
Join
the
Sei
Community
Grants
Telegram
Group
to
stay
updated
and
connect
with
other
creators
and
supporters.
Thank
you
to
everyone
who
participated
–
project
creators,
voters,
and
the
Sei
community.
Stay
tuned
for
more
updates
as
the
Sei
ecosystem
continues
to
grow.
Image
source:
Shutterstock
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