Public Goods Network
Description
Liam 'Akiba' Wright:
"A prime example of the potential innovation possible through quadratic funding, the Public Goods Network (PGN), a new collaborative project backed by core’ Gitcoiners,’ is shifting the paradigm of public goods funding.
The PGN functions as a low-cost Layer 2 (L2) OP Chain, directing the majority of net sequencer fees towards public goods. Gas fees from PGN transactions are pooled to support public goods initiatives. Further, ETH is the native token of the network removing it from the issues of tokenomics, instead simply acting as a route to generate community funds through transacting on chain.
Its mission is supported by an alliance of public goods advocates, including Gitcoin, and is powered by the infrastructure platform Conduit.
Kyle Weiss, the Executive Director at the Gitcoin Foundation, expressed the organization’s excitement to incubate PGN and its ambition to become a digital focal point for those interested in building and funding public goods. Nicole d’Avis, Protocol Lead at PGN, described the network as ” a natural evolution in exploring how we generate funding in the digital realm for public goods.”
The PGN provides users and developers with a cost-effective alternative to the Ethereum mainnet as a Layer2 OP Chain, while running dApps on PGN automatically generates funding for public goods. The aim being to create a legitimate, durable, and always-on funding source that allows public goods organizations to grow their resources.
Thus, while ‘open source funding’ may not pique news organizations’ interest, the sector is thriving.
Entities involved should be lauded for fostering an environment where public goods can be funded sustainably and reliably. Their efforts pave the way for a future where open-source funding is critical in supporting the greater good."