ENS Ecosystem Supports Key Open Source Projects with Drips Funding - Blockchain.News

ENS Ecosystem Supports Key Open Source Projects with Drips Funding

ENS allocates $50,000 USDC to support essential open-source projects through Drips.

  • Jun 06, 2024 01:23
ENS Ecosystem Supports Key Open Source Projects with Drips Funding

The ENS Ecosystem Working Group has taken a significant step to support open-source projects crucial to its operations by committing $50,000 USDC over the next six months. This funding will be distributed through the Drips platform to seven essential projects, according to ENS blog.

Strategic Funding through Drips

Drips, a platform known for facilitating continuous and transparent funding, enables organizations like ENS to provide necessary financial support to their software dependencies. The seven projects benefiting from this initiative are: Wagmi, ethers.js, graphql-request, openzeppelin-contracts, noble-hashes, scure-base, and dns-packet. This move underscores ENS' dedication to bolstering the open-source projects that form the backbone of its infrastructure.

Cascading Impact of Drips Funding

The impact of this funding extends beyond the initial recipients. Drips' mechanism ensures that funds also reach secondary dependencies, creating a broader positive effect. For instance, 40% of the funds allocated to Wagmi are automatically shared with its dependencies. Similarly, ethers.js directs a portion of its funds to six of its own dependencies, while openzeppelin-contracts supports nine other projects. This cascading effect means that the initial $50,000 USDC will positively impact at least 40 projects that are two degrees out from ENS.

Endorsements from Key Figures

Eleftherios Diakomichalis, founder of Drips, praised ENS for setting a new standard in funding public infrastructure. He stated, “ENS is leading the way in establishing a new cultural norm where on-chain organizations continuously fund the vital public infrastructure they depend on. This is what the future of public goods funding looks like.”

Slobo.eth, an ENS ecosystem steward, also highlighted the significance of Drips, saying, “Drips is a great way to support open source developers who do important work for the ENS Ecosystem.”

Fostering a Sustainable Open Source Ecosystem

This initiative demonstrates the true potential of Drips: ensuring that funds not only support core dependencies but also reach the essential building blocks that enable them to function effectively. This approach fosters a healthier and more sustainable open-source ecosystem, benefitting all parties involved.

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