Jun 29, 2020 ⋅ 1 min read
EIP 1559 – a proposal to add a fee burning mechanism to Ethereum transactions – has raised nearly $60,000 from Gitcion Grants with two days left for fundraising. Gitcoin Grants operate using quadratic funding, a process where small donations are matched on a more even scale compared to larger donations. An individual grant is rewarded by the number of individuals who fund the project rather than the amount raised from a small number of individuals. For example, at the current rate donating 1 DAI matches the EIP -1559 grant with 108 DAI whereas donating 1000 DAI only matches 272 DAI.
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