Author: Marco González

Editor: Randall Roland

Web3 forever alters the exchange of information, money, and value. P2P networking was limited in its digital applications before the invention of blockchain. Now that P2P digital networks directly connect individuals around the world, it's time to rethink existing infrastructure. Enter public goods, the EOS Network Foundation, and Pomelo.

The EOS Network Foundation identified resources and funding among the most significant challenges facing Web3. Before its founding, the EOS Network severely lacked the motivation to innovate. Validating the blockchain was solid via block rewards. EOS has always been as fast and secure as any blockchain. However, little incentivization existed for the development of public goods until the ENF came into a leadership role.

Public goods form the basis of infrastructure for global networks. Imagine surfing the web without a browser or a registry system. Unlike the traditional web, some services are inadequate on P2P networks. Here’s how the ENF describes public goods as they relate to Web3:

Public goods for Web3 already garner serious attention to the tune of $71M (via Gitcoin) on Ethereum and $2M+ via Pomelo alone. Also note the $100M recently secured for EOS Network Ventures, a planned, independent funding agency for the EOS Network.

Building, maintaining, growing, and providing the community with direction is why the EOS Network elected the ENF. Public goods were always integral to ENF plans. The ENF’s dedicated working groups can only go so far as to meet the needs of the community. There must be incentivization to support need fulfillment across the network. The public goods identified by the ENF for Web3 and EOS are:

Public goods have been at the heart of Pomelo since day one. They are the reason the ENF aided in Pomelo’s funding. Public goods are essential to the concept of quadratic funding, the mechanism used by Pomelo. Pomelo accepts no grant unless it demonstrates a public good. Grant testimonials accompanied Pomelo’s 1st anniversary as the EOS Network’s community funding arm. See for yourself the impact Pomelo and public goods are having.

The Pomelo team released information about its fourth season of quadratic funding at the beginning of October. Grant applications were first accepted on November 14 and remained open until December 7. Donations that impact the matching pool extend from November 23 through December 14.

A detailed analysis begins as soon as donations close. Each of the past season’s final reports made adjustments to the matching pool. Also, note that the season 4 analysis period expects to be longer than usual given its occurrence during the holiday season.

Growing the Pomelo platform isn’t all about the stats. The team looks to improve the services and experiences provided to the community. Make no mistake, from the beginning, Pomelo has supported grant applicants in a variety of ways. Rapid fire pitch sessions, an active Telegram channel, and the end-of-season analysis all help make Pomelo an inviting way to build community goods. Even the story behind Pomelo NFTs serves as a creative history that the community can fondly look back upon. Season 4’s new features include:

Pomelo designed a progressive collection of NFTs. From fruit-bearing trees (season 1) and resources (season 2 and season 3) for building spaceships to Season 4’s intergalactic adventure, Pomelo NFTs encourage productivity and success throughout the community.

Pomelo NFTs have other purposes. They offer community recognition, add to the matching funds, can be used as avatars, and aid in the KYC process; though, there’s no specific bonus or reward for holding Pomelo NFTs. Similarly, badges are rewarded for significant contributions to proudly be displayed.

The EOS Network can meet the needs of Web3. Unlike most blockchains, EOS is fast, secure, and agile enough to make a difference in the apps people use right now. Reliable funding for the public goods that will make and keep EOS relevant is a key piece of the puzzle. Where the ENF coordinates development in a top-down approach, Pomelo squares things away for all dedicated community members. Together, the ENF, Pomelo, and members of the community demonstrate the power of Web3.