PGN aimed to fund the world's public goods, driven by generating revenue via network sequencer fees and returning those funds back to public goods at large.
After a thorough assessment, we have decided to wind down PGN over the next 6 months, tentatively closing in June 2024.
🟢 Introducing: Public Goods Network— a community-led L2 ecosystem for public goods maxis.
It's time to explore durable mechanisms to generate abundant and legitimate funding for public goods.
@pgn_eth
is a new a digital schelling point for public goods supporters. 🧵
Today, we are sharing a bittersweet update on PGN's future.
Since launching the Public Goods Network in July '23, our journey has been one of building and learning, fueled by the incredible support of the Public Goods Alliance, our community, partners, and of course
@gitcoin
.
🤯 Over 100k deposit/withdraw transactions on the testnet alone.
🌳You are some crazy regens!! We love the support.
🟢 Mainnet details are coming soon. Thanks for the support, and stay tuned!
There’s a new chain in town, and its mission is impact 🟢
We are excited to announce that Grants Stack now supports a new L2 一 Public Goods Network: The Chain with Purpose.
@pgn_eth
is a low-cost Layer 2 (L2) OP chain dedicated to generating sustainable funding for public goods
Two huge releases yesterday:
🟢
@pgn_eth
— a mission driven L2 to benefit public goods
🟣 speak now (Taylor’s version) — I forgot how hard back to December slaps
what a time to be alive!!!!
PGN is a L2 OP Chain, a highly composable EVM compatible rollup. The majority of net sequencer fees will go toward supporting public goods in Ethereum and beyond. We believe sustainable revenue sources for public goods are possible ⛓
Excited to share "But Why PGN? One Builder's Opinion", our first PDF NFT mint on PGN via
@ourZORA
.
This is a meta exploration by PGN protocol lead
@mybellalogica
of why we are building PGN, and how we believe it is contributing to the future of public goods. 🧵 👇
In the future, projects can receive revenue directly through sequencer fees via Contract Secured Revenue. This aligns incentives between the network and the developers building on top of it. EIP-6969 makes this possible:
EIP-6969 presents a generalized protocol which networks can reference to implement Canto’s Contract Secured Revenue (CSR). Although this initial EIP targets L2 implementation, it can be applied to any network which uses EIP-1559 logic, including ETH mainnet.…
🟢 Public Goods Network is the chain with purpose. Public Goods are Good. Together, we can make them great.
Join the movement and learn more at , and follow
@pgn_eth
to make it happen.
The Public Goods Network will be a public good itself. Developers and champions can fill blockspace on PGN, fueling the objective of growing and funding public goods. No additional financial commitments required ✨
🟢Imagine a future where public goods funding is abundant, recurring and allocated by those aligned with our collective goal of building and funding public goods indefinitely.
Imagine a future where public goods funding is abundant, recurring, and allocated by those aligned with our collective goals.
Public Goods are Good. Together, we can make them great. Join the movement at and follow
@pgn_eth
to learn more. 🟢
Portions of
@gitcoin
’s next grants round, GG18, will also run on PGN through
@grantsstack
!
Submissions for GG18 open Aug 1, and funding runs Aug 15 - 29. PGN will be a digital schelling point for public goods funding with Gitcoin and beyond.
PGN deployment and infrastructure are ready for testing ⚒️
Comprehensive bridging, transaction view, block explorer, and core infrastructure are in place to leverage PGN's capabilities.
Governance of the Public Goods Network rests with a trusted group of public goods maxis. By joining the alliance, projects contribute to the growth and sustainability of public goods funding.
We’ll share more
@fundingcommons
so check out our activations in Paris, July 15-16 💡
PGN mainnet will have a very brief window of scheduled downtime at 1am EDT Sunday, September 3 to make necessary updates to mainnet.
The downtime, if any, will be very short and definitely no longer than one hour.
Base is proud to be building as part of the Superchain vision alongside
@optimismFND
and contributing to the creation of a unified, open, and decentralized ecosystem.
Summer is just the beginning 🔵🔴🟡
@superbridgeapp
@layerswap
To our community, thank you for rallying around us.
The vision of sequencer fees sustaining public goods is still a noble one.
As L2 ecosystems evolve, the race to fund innovation continues.
Gratitude to everyone who contributed to making PGN what it is today.
Bridge ETH to PGN
**We recommend only transferring small amounts of ETH for starters. Do not directly transfer ERC-20 tokens to the bridge address.**
More tokens will be coming soon!
📣 BIG NEWS! Unlock the mysteries of web3 grants by collecting a comprehensive report, while supporting Turkish charities during a dedicated QV round at
@schellingpoint_
. The report delves deep into the ever-changing landscape of web3 grants programs to offer valuable insights…
After six months of mainnet network launch, fees will be assessed and allocated based on cumulative impact data. Join the Network alliance to collaborate on determining the split of sequencer fees ☀️
PGN is committed to a minimum two-year experiment where partners run dApps on PGN, supporting public goods funding. We invite others to join this commitment and contribute to the growth and sustainability of public goods initiatives 🫡
Lastly, without promise of a future airdrop, as a native token is less aligned with PGN's financial model, we saw far less traffic than other emerging L2s.
Ultimately the Tx volume on PGN was not sufficient to generate positive revenue.
After six months of network launch, PGN will assess and allocate fees based on cumulative data. Organizations interested in building, receiving funding or improving PGN can join the Public Goods Alliance to collaborate on governance and sequencer fee split decisions.
📆SAVE THE DATE 📆
🎉Gitcoin Grants 18: Aug 15-29, 2023🎉
Mark your calendars for
#GG18
! Applications open on August 1st – be on the lookout for more details to follow 🫡
Let���s Fund What Matters. Together 🍃
Withdrawals of all assets from PGN will be available from now through June 2024 via our bridge, as well as other supported bridges on
@superbridgeapp
and
@layerswap
.
PGN mainnet will have a very brief window of scheduled downtime at 1am EDT Sunday, September 3 to make necessary updates to mainnet.
The downtime, if any, will be very short and definitely no longer than one hour.
Public Goods Network is the chain with purpose. Ready to try it out for yourself? Let’s go!
Start with for information on how to add PGN to your wallet, to learn more about the tech and ethos powering PGN, and find out how to start building.
We're immensely grateful for the support from the community, contributors, and partners. The PGN team consisted of a mighty three,
@mybellalogica
@sophiadew_
and
@lebraat
, with support from
@gitcoin
showcasing its collaborative and innovative spirit.
The decision was not easy, but a realistic evaluation highlighted challenges in our ability to meet our goals of generating significant funding for public goods.
Read for details, learnings and next steps, and see the forum post by
@kbw
for more context.
"A closer look reveals a flourishing ecosystem where organizations like Gitcoin and the Public Goods Network are redefining the possibilities of open-source funding, with significant implications for public goods."
@CryptoSlate
@akibablade
deep dive on open source funding 👏👏👏
Op-ed: Let’s talk about
@gitcoin
– the silence around open source funding is deafening
To build a decentralized internet, we cannot rely on centralized funding alone.
via
@akibablade
#Oped
#Gitcoin
PGN grows the pie of available funding for public goods, aligning devs and consumers. Devs automatically generate funding for public goods by running dApps on PGN, and users get a compatible, affordable alternative to Ethereum mainnet.
📢 Gitcoin Grants 19 is LIVE until 23:59 UTC Nov 29th
#GG19
is your opportunity to Fund What Matters & get your donations multiplied with matching funds in the biggest Quadratic Funding event in web3 🫶
TL;DR on GG19:
Back to our roots w/ 3 Program Rounds:
🛠️OSS
⛓️ETH Infra…
ICYMI submissions closed on PGN's first jokerace, and VOTING IS NOW OPEN for the next 10 days.
If you held
#GTC
during our August snapshot, then you are eligible to vote.
Here are some of our favorites 👇
📣REMINDER that
#GG18
closes on Tuesday, Aug 29th at noon UTC, so make sure you get your donations in before the deadline!
For those that are in the North American timezone, we recommend getting your donations in by tomorrow, Aug 28th 🌟
🍃
Despite the challenges, having a network dedicated to public goods brought together the best people and projects, passionate about Public Goods. The silver lining lies in the lessons learned and the relationships formed.
You can now mint THE first NFT on PGN, designed by
@cicici__ci
, minting with
@ourZORA
.
All mint revenue and the majority of the net sequencer fees will be directed to funding public goods.
🚀 PGN launched almost 6 months ago as a digital schelling point for public goods, with the goal of generating public goods funding via L2 sequencer fees.
As a public good ourselves, we believe it's important to share learnings and updates to advance the ecosystem at large. 🧵
PGN launched early, only behind Base, and Superchain interoperability infrastructure and developer tooling is still being developed. This made PGN's growth in this emerging environment particularly challenging for a small team.
Additionally, encouraging people to migrate without the convenience of a scaled network was challenging, and the resources needed to support this were out of scope with PGN's budget.
Low liquidity on bridges, lack of DEXs and core infra like a Safe UI all caused large headwinds.
One of PGN's initial paths to success focused on Contract Secured Revenue (CSR).
Unfortunately, CSR is not a technology we could implement alone on the Superchain, which meant that it could not serve as a key differentiator for our network.
From the beginning, PGN aimed to be more than a Gitcoin appchain, however we saw that without a dedicated dApp experience that was uniquely high quality on PGN, we could not compete with the increasing competition between L2s.
If anyone heard about the
@pgn_eth
announcement yesterday and would like to see how to work with us please shoot me a DM on here or on Telegram.
I've already been getting messages, but I thought I'd officially put it out there.
We'll be sharing plans soon on an orderly shutdown, systems to support users and a transparent reflection on successes and failures.
For more details and bridging options, visit our documentation or connect with us on tg
1/10 🌟 Today we’re thrilled to unveil the next iteration of Drips 🌟
Drips is a decentralized toolkit for funding public goods, that builds on the interdependence of software projects & people.
💧💧
Here’s everything you need to know 👇
this is not a small matter
if you can build on something like
@pgn_eth
and potentially get some revenue back from the transaction you drive in sequencer fees, while ensuring the other revenue goes to public goods…
this is a major selling point
The forming of the Public Goods Alliance brought many of the best public goods projects together to explore how we might expand and grow funding, which remains a worthwhile exploration that we hope will continue after the Network sunsets.
As we look ahead, the path to PGN's success is complex, requiring substantial capital and a dedicated team.
If others wish to support or take over, we're open to discussions and would love to see what a new future home and use case for PGN might look like.
This has been really instrumental in supporting our network and reducing costs. 🙌
Though PGN is on a wind down path, this migration is incredibly valuable in ensuring we minimize fees for users in the short term. 👏
Blockchains if they were in school
Polygon - front bench A graders
Arbitrum - socially awkward stoners
Optimism - cool kids smooth with the opp sex
Base - kids acing tests without studying
Celo - high school activists
Ethereum - nerds
Solana - athletes
Bitcoin - bully
📢 Attention PGN Builders!
As PGN prepares for network wind down in June, we are minting a Hypercert to recognize your impact in the PGN ecosystem.
Make sure to fill out this form by April 1 if you’d like to be recognized:
Goldsky is proud to support onchain public goods! ☀️
@pgn_eth
<> streamlines access to onchain datasets, making it easier and more affordable to start working with data in Web3.
Introducing the Superchain Faucet, which provides testnet ETH for all OP Chains by leveraging the power of
@gelatonetwork
Functions.
This makes it easier than ever for developers to get access to testnet tokens acrosss testnets in the Superchain.
Today we're doing a short dive into a standout feature from one of our partners, forced withdrawals via the
@superbridgeapp
Forced withdrawals are your escape hatch in the world of OP🔴 rollups, so let's dive in👇🧵