Introduction Our lives are increasingly moving online, sparking new modes of interaction, communication, and creation. As we transition to a world where we occupy both physical and digital spaces, the concept of a "public good" must evolve accordingly. Public goods already exist in the digital realm. Open source software is a prime example of a digital public good, underpinning everything from fundamental internet protocols like HTTP to the 'awesome' list of lists. Yet, despite the significant societal value they generate, open source software projects frequently struggle with the existential challenge of acquiring stable funding. Part of the problem is that we haven't found the right, digitally-native mechanisms for funding open source. Traditional approaches, from soliciting donations to applying for government grants, aren't a good fit for open source. Consider Wikipedia, a household name in the realm of digital public goods. You've likely encountered the seemingly ever-present appeal banners asking for donations:

Introduction As our lives are increasingly digitized, creating new modes of interaction, communication, and creation, the concept of a "public good" evolves to include not just physical resources, but digital ones as well. Digital public goods, like open-source software, are freely available to everyone, forming the backbone of our online world. Yet, despite the immense societal value they generate, open source projects often grapple with the existential challenge of securing stable funding. This essay proposes a solution: programmable retrospective funding. Programmable retro-funding Programmable retrospective funding is a novel, digitally-native approach to funding open source. It relies on predefined rules to allocate funds to projects based on the value they have already provided, hence the terms "retrospective" and "programmable". This innovative approach could be the answer to the struggles faced by open-source initiatives, from household names like Wikipedia to less visible yet crucial projects. Proven Impact: Fund projects based on their established track record and demonstrated value, rather than speculative future promises The inherent unpredictability of software projects often makes prospective funding a gamble. Retrospective funding, on the other hand, is a much safer bet, supporting projects that have already established their value and impact.

This proposal presents a novel funding model for Arbitrum Grants that aims to create a scalable, plural, and transparent system for grant distribution that fosters innovation and rewards hard work. Key Points Size funding rounds based on the L2’s economic activity; hold larger grant rounds during periods of lower TVL and transaction activity Divide each round into 3-5 funding pools for different prioritized ecosystem growth areas Require projects to submit structured data that facilitates permissionless observation of their activity and impact Incentivize impact evaluators to review structured project data and submit a recommended percentage of funding for each project Shift the role of delegates from voting on projects to voting on impact evaluators’ scoring of all eligible projects Round Sizing Formula

Introduction Public goods take new forms in our increasingly digital society. Open source software (OSS) is a leading example of a critical digital public good, underpinning everything from core internet protocols like HTTP to fun contests like Joke Races. Despite the significant societal value they generate, open source software projects often wrestle with a universal challenge: acquiring sustainable funding. This post lays out a thesis for why open source software is uniquely positioned to benefit from a new flavor of grantmaking: retrospective funding on crypto rails. "Retrospective funding" means rewarding projects for work that's already been done, while "crypto rails" means building on the unique advantages that blockchain-based grantmaking and coordination technology offer.

Hypercerts are represented as ERC-1155 tokens. All token instances of a hypercert must share the same ERC-1155 metadata. For sites like OpenSea to pull in off-chain metadata for ERC-1155 assets, your hypercert contract will need to return an IPFS URI that contains all necessary hypercert metadata. The hypercert metadata schema follows the Enjin recommendation for ERC-1155 metadata. It also includes six required dimensions that are necessary to clearly and unambiguously identify the hypercert's impact claim. The following are standard ERC-1155 metadata fields. ERC-1155 fields Property Description

Experimental Description An augmented bonding curve (ABC) is a type of smart contract that can be used to fund the development and maintenance of public goods. It is a hybrid of a bonding curve and a crowdfunding campaign, in which users can buy tokens that represent a claim on the value of the public good being funded. The price of the tokens is determined by an exponential formula that only takes into account the supply of tokens. While creating an algorithm that has price automatically go up with supply may sound like a pyramid scheme, the price only goes up if the demand (supply) for the token actually goes up. If users sell/burn their tokens, then the token's price will come back down just as fast. In this way, ABCs can be thought of as single-sided markets. The bonding formula determines the price for any given transaction. It doesn't require a counterparty on the other side of the transaction. This property makes it possible to kickstart a small marketplace that might traditionally be illiquid market because it doesn't have enough demand. Unlike a typical bonding curve system, where tokens can be burned at any point in time, an ABC introduces further mechanisms that lock and vest a share of tokens at the time the pool is created. This vesting period combats any harmful early speculation/arbitrage that would affect the stability of the token pool.

Legacy Description Money creation, or money issuance, is the process by which the money supply of a country, or of an economic or monetary region is increased. In most modern economies, money creation is controlled by the central banks. The process is often referred to as "printing" money, although most modern currencies are not actually printed on paper but are digital entries in a database. Money issued by central banks is termed "base money". Central banks can increase the quantity of base money directly, by engaging in open market operations. However, the majority of the money supply is created by the commercial banking system in the form of bank deposits. Bank loans issued by commercial banks that practice fractional reserve banking expands the quantity of broad money to more than the original amount of base money issued by the central bank. The central bank creates new money whenever it is needed, such as when the government wants to spend more money than it has on hand. The central bank also regulates the supply of money in the economy to help maintain price stability. This is typically done through a combination of interest rate adjustments and open market operations, which involve buying and selling government securities to manage the money supply. Examples