Crypto Altruism Podcast Episode 163 - LottoPGF – Unifying degens and regens as a force for public goods
In episode 163, we’re excited to welcome Nico Gallardo of LottoPGF, the creators of permissionless lotteries for public goods funding on Ethereum. We dive into the history of lotteries as a funding mechanism, why Ethereum is such a powerful force for community coordination and capital allocation, how permissionless lotteries are set to disrupt traditional public goods funding, unifying degens and regens to advance public goods, and much more.
Three Key Takeaways
There is a strong history of lotteries funding public goods like universities and charitable institutions, but traditionally these lotteries have been heavily centralized, with decisions around capital allocation being made by a centralized authority. A decentralized, permissionless lottery would put this power in the hands of the community.
Lotteries today require a high degree of trust. You must trust that the individuals receiving and holding the money will use a fair process for choosing a winner and will distribute the funds as promised. A blockchain-based lottery would address this by creating an open source, trustless system for choosing a winner and allocating funds.
Traditionally “degens” and “regens” have been viewed as opposites that are incompatible with each other. However, there are a lot that these communities can learn from each other. Degens, on the one hand, are great at coordinating communities and raising funds, and there is a lot that regens can learn from this. As such, it’s important to explore ways that these two communities can work together for social good.
Follow Nico and LottoPGF
Episode Time Stamps
03:10 - What was your “Ah hah” moment that first got you excited about cryptocurrency and web3?
06:05 - To start things off, can you please give listeners a quick intro to the mission of LottoPGF?
07:20 - Let’s go back in time – I understand that funding public goods through lotteries has been around for centuries. Tell me more.
09:50 - What are some of the problems with traditional lotteries, and how can Ethereum address these problems?
11:45 - On your website, it mentions how “Ethereum is leading the renaissance of coordination mechanisms for voluntary public goods funding.” What makes Ethereum such a powerful force for coordination and capital allocation?
13:30 - The philosophy of LottoPGF centres around the concept of a synergistic relationship between degens and regens, two groups that have often been viewed as distinct and incompatible. To that end, you have released the degens🤝regens manifesto. Can you tell me more about the manifesto & how degen and regen values can power this movement?
20:15 - Earlier this year, you developed a proof of concept called the PowerBALD lottery – can you tell me more about this?
25:15 - I understand that LottoPGF is stewarded by OttoDAO – can you tell me more about OttoDAO?
29:25 - What does the roadmap ahead look like for LottoPGF? Where do you see it in 5-10 years?
34:00 - What’s the best way for listeners to get in touch and learn more about LottoPGF?
35:15 - To wrap things up, if you could name one thing that excites you most about the social impact potential of web3, what would it be and why?
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DISCLAIMER
While we may discuss specific web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on potential investment opportunities, or any opportunity. We host a variety of guests on this podcast with the sole purpose of highlighting the social impact use cases of this technology. That being said, Crypto Altruism does not endorse any of these projects, and we recognize that, since this is an emerging sector, some may be operating in regulatory grey areas, and as such, we cannot confirm their legality in the jurisdictions in which they operate, especially as it pertains to decentralized finance protocols. So, before getting involved with any project, it’s important that you do your own research and confirm the legality of the project. More available HERE.
