Author: Marco González
Editor: Randall Roland
The success of Pomelo grants is determined by community endorsement (independent donors). Through quadratic funding, community members come together to support the most needed projects. The ‘magic’ behind quadratic funding is in how matching funds are distributed.
Blockchain technology enables fair and open tracking. With a secured funding environment and the community focused on projects that do the most good, Pomelo quadratic funding is able to efficiently distribute matching funds.
Adapted from Pomelo
EOS Support may have been born out of Eden on EOS, but it owes much of its success to Pomelo. Access to seasonal funding enables the EOS Support team to plan for the long term while providing uninterrupted, consistent services for the community. EOS Support is a true Pomelo success story.
How Independent Projects on EOS are Funded
The EOS Network was infused with new life the day Pomelo arrived. Two issues plagued EOS through the years:
Needed development
Community funding
Infrastructure development is now the responsibility of the EOS Network Foundation. The EOS ecosystem has already seen transformation through the foundation’s working groups, leadership, and funding. ENF development has exceeded anything B1 ever delivered. Community, and not corporate, needs are the ENF’s priority.
As a foundation, the ENF is limited in how it monitors and funds independent projects. This is where Pomelo fits in. Through community-harmonized quadratic funding, Pomelo grants put funding decisions in the hands of individual donors.
Pomelo’s First Anniversary
Pomelo began accepting grant applications for its first season on November 7, 2021. It was the start of something special. A lot has happened since last November. Numerous independent community projects now live and thrive on EOS. Unlike pre-ENF funding on the EOS Network, Pomelo grant recipients tend to stay because they need to demonstrate their public good.
Pomelo continues to develop its platform. Seasons are scheduled quarterly, each lasting about three months each. The most recent season is #4 which commences on November 14. Read about what to expect and how to participate in the team’s Medium post entitled Pomelo Season 4: What You Need to Know.
Adapted from Pomelo
About Pomelo
Pomelo uses quadratic funding to ensure that independent community members determine how funds are distributed. Quadratic funding is a new type of funding mechanism that leverages blockchain technology. Pomelo is among the earliest use cases. Early indications are that Pomelo is on track to outperform other quadratic funding platforms.
With the community at the center of both development and funding, the EOS Network is assured of solving problems and meeting needs in timely fashion. Surprisingly, even though funds were available in the past, manifesting solutions for immediate needs remained challenging under B1’s tenure.
The ‘magic’ of quadratic funding comes from the way matching funds are allocated. Essentially, the stronger the community’s opinion about a project, the more funds are allocated. More donations from independent sources equates to a larger portion of the matching pool (even if the amount of raised funds are equivalent between projects). It’s also worth noting that Pomelo rewards donors who prove their identity via KYC.
About Pomelo NFTS
Pomelo NFTS are a fun way to bring in extra funds and strengthen community bonds. NFTs can be used as avatars. Beyond that, their use cases are limited on Pomelo at this early stage. The team appears committed to advancing the storyline with each passing season; so look out.
A Word about the ENF’s Invaluable Contributions
The EOS Network Foundation is indeed the catalyst driving the rebirth of EOS, or as the community likes to say, the New EOS. The ENF helped Pomelo get off the ground. The foundation continues to be the largest contributor of matching funds. ENF direct grants offer another option for ecosystem project funding. Of course, the ENF has working groups to develop and implement elaborate, core development plans. EOS Support complements the efforts of the ENF and Pomelo. The team aids endeavors to develop, grow, and fund new projects. Surveys, education, and networking are a few examples.
EOS Support Thrives with Pomelo Funding
Few projects have made as positive an impact as EOS Support. The team provides measurable community feedback through a variety of efforts. Feedback is important to ensure that the best decisions are being made and aligned with community needs. EOS Support is both a company and a community. Its services are vast:
Live support
Education
Networking
Information hub
Scam identifier
And more
Each Pomelo season, EOS Support uses new funds to advance its services and outreach. Its season 3 grant ranked 4th among matching pool recipients to the tune of $20+K and 106 independent donors.
Season 3 funds were allocated toward various services and maintenance. Most notable were funding EOS Respect and a new website. EOS Respect is independent of EOS Support- affecting change in a unique way. The new website comes with several unique features and is nearly complete.
EOS Respect Delivers Measurable Project Accountability
EOS Respect is a community of proven contributors. Members selected for invitation have made their contributions and dedication known. Projects available for EOS Respect funding must meet affiliate conditions.
Each month, the EOS Respect community comes together to elect delegates. Each delegate independently decides how their funds are to be distributed. Additionally, delegates must provide accountability for the projects they choose.
Most delegates look to leverage Pomelo for both funding and project significance. Where Pomelo tracks projects internally and analytically, EOS Respect delegates network directly with project owners. There’s now an unprecedented opportunity for new projects to thrive by providing public goods. Pomelo and EOS Respect uniquely leverage decentralized contributions to foster organic mainnet development.
Again, for the sake of establishing clarity among the EOS Network’s diverse funding spectrum:
The ENF takes a lead role in developing core infrastructure within the EOS ecosystem. The team strives to support community projects. However, the foundation is quite large and its identified focus of leading “from a birds-eye-view” can become distant. Pomelo and EOS Respect directly invest their funds into independent community projects.
Adapted from Pomelo
OUTLOOK
Pomelo’s success and community focus testify to the effectiveness of quadratic funding. EOS Support’s growing membership, services, and productivity owes much to the new funding system. Pomelo helps foster community respect and networking, in addition to funding. EOS Support also offers networking advantages, as well as education and other support services. Other high-quality projects have similarly benefited from Pomelo. Developing new solutions at the community level ensures a bright future for the EOS Network.
Sources & References
Medium.com:
Image Credits: