The 1% Pledge Funding Vehicle

Trent outlines the 1% Pledge where new projects commit token supply to support core protocol contributors.

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Episode notes

Guest

Trent Van Epps

Panelists

Eriol Fox | Victory Brown

Show Notes

In this episode of Sustain, host Eriol Fox and co-host Victory Brown are at the Devconnect Conference in Buenos Aires with Trent Van Epps, an organizer of Protocol Guild and member of the Ethereum Foundation. They discuss the vital role of Protocol Guild in funding core protocol developers, addressing systemic issues of under-compensation in open-source projects. Trent also explores the similarities and differences between funding in the open-source community and the Ethereum ecosystem, emphasizing the importance of collective representation and the unique financial structures of blockchain technology. The conversation highlights the necessity of diversity and inclusion within the Ethereum community and shares insights on the impact of adverse regulatory pressures and funding challenges. Press download now!

[00:00:29] Trent explains Protocol Guild and he connects Guild work to his EF role coordinating network upgrades and ensuring stable funding and continuity.

[00:02:35] Trent tells us why core contributors are under compensated and notes there’s a “hot ball of money” problem.

[00:05:21] Eriol and Trent discuss discomfort around money in open source. the myth of pure altruism, and the reality that “you can’t eat your code.”

[00:06:28] What can open source learn from Ethereum? Trent points to classic charitable giving practices and highlights Ethereum’s difference and stresses that funding can be used as a political lever.

[00:11:07] Trent contrasts different contributor needs and points out diversity/heterogeneity as essential to Ethereum’s robustness and security.

[00:15:40] Trent describes tight social bonds in Ethereum formed by “youth of the ecosystem” and shared regulatory pressures, which push the community to cooperate defensively, and he talks about how Protocol Guild operates like a loose union/syndicate.

[00:20:03] He outlines their funding vehicle called the 1% Pledge.

[00:22:07] Trent acknowledges high-profile scams and speculative excess get media attention, overshadowing serious work, like the technological waves with railroads. He points to Argentina, Kenya, and other places with weak institutions.

[00:24:59] Eriol closes the discussion with a call to widen your bubble.

[00:26:08] Trent’s project spotlight is ZKP2P and a great book by Benjamin Birkinbine. Also, he shares where you can find him on the internet.