PGN is a layer 2 scaling solution for Ethereum that aims to create durable and recurring funding for public goods. PGN leverages the OP Stack to achieve this.
Public Good Networks (PGN) is a layer 2 scaling solution built using the OP Stack that aims to create durable and recurring funding for public goods. Public goods are goods or services that are non-excludable and non-rivalrous in nature. However, public goods often suffer from under-provision and under-funding, as they are difficult to monetize and incentivize.
PGN is built on the Bedrock version of OP Stack in collaboration with Optimism and powered by Conduit. Building and using dApps on L2s provides revenue for the organization or alliance that builds it. PGN will dedicate the vast majority of this revenue to fund public goods, rather than directing profits to venture capitalists.This means, simply by using the network, you are supporting public goods and public goods projects. The vast majority of net sequencer fees will go to public goods projects. After six months of network launch, fees will be assessed and allocated based on cumulative data.
Filling blockspace is, in part, a race to the bottom. The bottom of the stack is where value capture is the most persistent and accepted. Rather than fill blockspace for other organizations who may be captured by VCs, or other rent seeking motivations, PGN believe that they should fill their own blockspace such that it can reallocate those funds to further the objective of growing and funding public goods.
PGN is a rollup run and operated by Gitcoin (and Conduit a 3rd party infrastructure provider) that offers discretion in how the sequencer fees are allocated. PGN will be used as a digital schelling point for those who want to support public goods – this is not for Gitcoin, this is those who want to establish sustainable, legitimate and deep revenue sources for public goods.