We are excited to announce the results of the GG21 Climate Solutions Round!
As we noted at the start of the round we have decided to use a combination of QF and Cluster Matching (COCM) for the results. We have previously distributed funds using QF and COCM. While both have their advantages they also have disadvantages. We decided to try a blended approach which we believe produced fair results.
The results blend COCM and QF, instead of pure COCM or QF. In this case, funding amounts was found for each mechanism, normalized to the size of the matching pool, and then averaged for each project. E.g. if a project gets 10% of the matching pool under COCM and 40% of the matching pool under QF, they will get 25% of the matching pool under this calculation.
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GG21 Climate Solutions Round Snapshot
- Matching Cap: 10%
- Allocation Mechanism: Blended QF + Cluster Match (COCM) (50-50)
- Participants: 71 Climate Solutions Grantees based on impact scores
- Number of applications: 102 grantee applications
- Total funding: $22,050
- Number of contributions: 794 unique donors
- Average contribution: $12.66
- Main Round - $125k USDGLO
- Shell Round $125k USDGLO
Matching Funds Payouts
Matching Funds for GG21 will be paid out in USDGLO on Arbitrum and will be sent directly to the wallet address you specified in your application. We expect to send the funds by 9/4/24. Here are some tips to help you safely convert and off-ramp your funds:
- You can use Jumper.Exchange to swap USDGLO to other tokens
- Be safe: Be careful offramping funds to a binance or other exchange address. aBe sure to doublecheck the wallet address where you are sending your funds and what chain it is on. For example don’t send USDGLO to a USDC address. One idea is to send a small amount to test and ensure the address is correct
- Off-ramping varies by region. Please be sure to ask questions in the CCN Telegram so that you can get help if needed!
USDGLO Info
Remember that Glo Dollar is a fiat-backed stablecoin that donates all of their profits to funding public goods. When you have Glo Dollars in your wallet, you will generate funding for public goods and charitable causes, and Glo Dollar allows you to choose which causes to support. Here’s a short loom video from the Glo Dollar team on Changing what you're funding through your USDGLO holdings which shows you how to allocate your yield to combat climate change.