Introducing PairDrop: A Game-Changing Funding Mechanism for Decentralized Communities
by DAO Drops
TL;DR? Check out our Twitter for a summary of this article
💧About PairDrop
PairDrop is a reusable primitive designed to help communities allocate funds intelligently. It sidesteps common pitfalls like cognitive overload, bias and favoritism while making the process fun and painless.
🤔 How PairDrop Works and How to Fork It
Each voter is assigned a random set of funding targets presented as pairs. For example, a voter might encounter five sets of two projects and choose the more deserving option from each pair.
Behind the scenes, PairDrop's algorithm meticulously computes a "preference graph" over the entire set of funding targets. This graph is then transformed into a normalized distribution, ensuring a fair and efficient allocation of funds.
Basically, PairDrop assigns each voter a random sample of the funding targets as sets of pairs (e.g. five sets of two). All the voter has to do is select the more deserving option from each of the pairs and the algorithm handles the rest!
To fork the codebase, visit the open-source repo and watch this video👇🏼
🗳️Voter Scoring Script
PairDrop also includes a Voter Scoring Script, a tool to help communities configure voting weights across participants. By pulling data from various on and off-chain sources, this script assigns weights to individual addresses, enabling a more tailored and informed voting process.
Learn more in our FAQs
☔️About DAO Drops
DAO Drops is the public goods arm of dOrg, a pioneering web3 development services provider operating as a DAO since 2019.
In 2023, DAO Drops launched its pilot with support from the Ethereum Foundation, enabling Ethereum users to allocate ecosystem funds to underfunded projects. You can navigate through the results of DAO Drops round 1 here.
Committed to empowering decentralized communities, DAO Drops aims to provide open-source tools that facilitate fair and efficient fund allocation.
Now, anyone interested in running their own funding rounds can leverage the power of PairDrop!
🚀What’s next?
It’s your turn to try it out!
If you need support in adapting PairDrop or DAO Drops V1 to your specific needs, or if you’re interested in contributing to PairDrop, don't hesitate to reach out to our email at daodrops@dorg.tech.
Enjoy PairDrop and stay tuned for future Drops on Twitter!