Sei Creator Fund Round 5 hits 1.2k donors for 95 projects led by the community

by SK
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Highlighting some of SEI’s biggest ads.

💨 What’s happening: Sei Network Creator Fund, an initiative of $ 10 million, has brought a series of donations from community members for their fifth round focused on the creation of video content and community participation.

💨 Why cares: This last round has brought more than 1,200 unique donors with a total donation of 48,600 SEI, with a value of $ 11,280, according to Flipside data Mondays. Ninety -five projects have received one or more donations.

The projects for this round also focus on providing content in the SEI ecosystem through technology, ecosystem developments and network growth. This could help expand the scope and educational value of the network in the broader cryptographic community.

The Sei Creator Fund, which was launched in June 2024, was created by Gitcoin and SEI to support the development of the network ecosystem. For each round, the Sei Creator Fund is assigning $ 250,000 in SEI and this time there is also a group of bonds of 185,000 SEI, or around $ 43,000.

The fund uses quadratic funds, which is a collective financing mechanism where community members can make donations, large or small, assign capital and also act as votes.

“QF groups small donations from many people and coincides with a greater amount of funds from a central fund, provided by the SEI Foundation,” said the team in June 2024 Blog.

Therefore, as a result, it uses a mathematical formula to reward projects based on the number of donors, not only in the size of the donation. About 53% of donors are new and more than 56% have donated more than one project, according to data.

While the donated amount is not a large amount of capital, it points to the effort driven by the community to support the builders within the network. Most of the time, Blockchain bases provide subsidies to encourage builders. But in this case, the community is also providing them, which means strong support for ecosystem growth.

💨 The biggest image: In general, Gitcoin has distributed more than $ 60 million to builders in the initial stage. In his collaboration with SEI, the $ 10 million initiative will help support builders within their network and expand the possibilities of what is possible in the chain.

There were more than 1,200 unique donors and approximately half of that total were repeated donors, showing strong loyalty and points to a strong base operation, backed by devotee users. By encouraging the community to support builders within their ecosystem, it could expand the strength of the network both in the short and long term.

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