Sei Builders Round 1 on Gitcoin to Support Native Ecosystem Development – BitRss

The Sei Builders Round 1 on Gitcoin has been launched to retroactively recognize and support native builders who have significantly contributed to the Sei ecosystem since the launch of Sei V2 on July 9, 2024. This initiative is structured into two distinct funding tracks: Consumer-Facing Contributions and Infrastructure & Tooling. By focusing on high-quality projects with tangible results, the program aims to provide financial support to impactful contributors, encouraging further development and growth within the Sei ecosystem.

Funding and Application Details

The funding round offers $750,000 worth of $SEI, with the price determined at the round’s close using a three-day Time-Weighted Average Price (TWAP) from CoinGecko. This amount will be split across the two tracks. Applications for the funding round open at 12 PM EST ($0.00) on Monday, February 17th, and close at 12 PM EST on Thursday, February 26th. Voting and donations will commence on the Gitcoin platform at 12 PM EST on Friday, February 27th, and the round will conclude at 12 PM EST on Monday, March 12th.

Eligible applicants must be builders who have deployed tools, infrastructure, on-chain applications, or assets natively on the Sei network. Projects must have gone live on Sei on or after July 9, 2024, or have substantially upgraded their product following the V2 launch to deliver significant contributions to the ecosystem.

Round Structure and Voting Mechanics

The funding round is divided into two tracks, each with specific criteria for demonstrating project impact. The Consumer-Facing Track focuses on metrics such as user growth, transaction activity, and cross-project integrations. The Infrastructure & Tooling Track emphasizes network adoption, developer usage, and ecosystem enablement.

All funding decisions will be made through community voting on Gitcoin. Only applications meeting the criteria outlined in the Demonstrated Impact section for each track will be accepted. To participate in voting, wallets must hold at least 100 SEI. This requirement is designed to prevent sybil attacks and ensure that votes come from real community members. Additionally, no single project can receive more than 10% of the total funding available for either track, ensuring a fair distribution of funds across multiple initiatives.

For more information about the Sei Builders Round 1 on Gitcoin, visit the official announcement here.

Why This Matters: Impact, Industry Trends & Expert Insights

The Sei Builders Round 1 on Gitcoin aims to support and recognize contributors to the Sei ecosystem by providing financial backing to impactful projects. This initiative is structured to incentivize further development within the Sei network.

Recent Gitcoin developments highlight a trend of expanding funding mechanisms, including Quadratic Funding and retro funding, to support crypto projects at various stages. This aligns with the Sei Builders Round’s approach to retroactively fund significant contributions, fostering a robust ecosystem.

A community voting initiative by Taiko and DoraHacks demonstrates the growing impact of decentralized governance in funding decisions. This supports the Sei Builders Round’s use of community voting to ensure fair and community-driven allocation of resources.

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