Hey guys, I’m an ambassador from the Ivan on Tech blockchain academy We’ve been developing an app on top of Compound that grants students with scholarships at our academy (using the interest generated to fund their tuition fees).
We ran through the problem of “how do you make sure that these students are worthy of the fund?” but we want to try something other than simply hiring an HR manager that would assess and choose the best talents. We want to experiment with Quadratic Funding.
You could imagine a public good being the Tezos cryptocurrency ecosystem (I’m going for Tezos because I think it’s a great platform but there aren’t a lot of developers building on it). And the projects in our case are represented by students who want to study Tezos programming and hope that in the future, and after graduating, they can contribute to this ecosystem.
The way we set up the rewards is by asking individual donors, governments, philanthropists, etc. to lock an amount of money in a central pool of funds. In this case, it will probably be the Tezos Foundation. And finally, you let the Tezos community vote over who gets what from that funding pool. In other words, they will divide this pie into slices (rewards) by voting with their money to the students who they think will have the most positive impact on the ecosystem. Students who have previous experience in functional programming are likely to receive bigger slices than those who don’t. A student, Alice, might have that skill and also have developed Ethereum dapps and open-source projects before so she will probably get the biggest slice.
So, I want to know:
1- Is my understanding of this method is correct?
2- Do you think QF can be applied and work well in our case, and with Compound?