Why Element Supports Public Goods on Ethereum
With the merge successfully completed and Gitcoin Grants Round 15 in full swing, the team at Element wanted to take a moment to acknowledge the hard work and dedication of builders of open-source, community-driven projects on Ethereum.
Our team depends on tooling and knowledge contributed from the community - whether it’s during the development process with tools like HardHat or inspiration for new product features that were expanded on the ideas from projects like Weiroll.
We’ve been fortunate to work beside some of the smartest people in the world to solve really hard problems and without the tireless work of fellow Ethereum developers over the years we wouldn’t be where we are today. We truly stand on the shoulders of giants.
Element Protocol itself was founded by two former ETH 2.0 researchers and is built on a foundation of exploring the edges of what is possible within DeFi. New primitives around governance were built, due to the ground work pushed forward by MakerDAO, which includes optimistic rewards & grants along with voting vaults and much more.
With the launch of Element’s governance system, an allocation was carved out for ETH core researchers, L2 researchers and many more as their work has been invaluable in supporting the ecosystems on top of which Element is built. Including these long-term thinkers will help make the Element DAO a more robust and forward looking organization.
1/ I want to talk about why @element_fi decided to include Ethereum Ecosystem Contributors in our distribution of voting power in Element’s path to decentralization. To quote @owocki, “it’s all coordination” 🌍👨🏻🚀 🔫👨🏽🚀. This isn’t just a platitude - it’s Ethereum’s superpower.
— jonny 'hold my beer' ray (@JonnyRhea) April 1, 2022
Finally, if you haven’t already, take a look at Gitcoin Grants Round 15 where we’re matching funds for the Advocacy Round until it closes on September 24, 2022.
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