To drive network growth - web3 ecosystems need novel funding mechanisms that help grow a network of diverse + high quality dApps, infrastructure and public goods. 

The teams, communities, and founders that build and maintain these public goods need funding that corresponds to the value that they’re bringing to the ecosystem.

Our implementation of Conviction Voting improves on existing systems of grant funding specifically for established public goods projects that need ongoing funding for products / services they’re building. It does this by algorithmically encouraging bottom-up governance of grant funding, and by reducing governance and administrative friction that bog down most other allocation methods.

We chose Conviction Voting as our first funding mechanism because we believe it’s the most proven and underserved funding mechanism in web3. However, our v2 platform design is optimized for running many different types of funding mechanisms and many instances of the same funding mechanism running at the same time. We did this by:

- Simplifying and modularizing the Community Covenant contract
- Using Allo Protocol v2 as our funding mechanism framework, which lets us easily implement other Allo funding mechanisms to our platform as we grow.