Introduction:

CUBIK, a funding platform operating on the Solana blockchain, has recently made waves in the decentralized finance (DeFi) space. Drawing parallels with Gitcoin, CUBIK utilizes a Quadratic Funding model to optimize user contributions. From June 23 to July 6, CUBIK conducted its inaugural "Dev Tooling Grants Round," amassing a significant matching pool exceeding $20k, thanks to contributions from notable entities such as Superteam, Solana Foundation, and Symmetry. This report aims to provide a comprehensive analysis of the first round, drawing insights from the "Cubik Pilot Grant Round Report." We will delve into the key performance indicators of the round, including the number of projects that applied and were accepted, the contribution amounts and the number of contributors for each project, the matched amounts at the end of the round, and a detailed analysis of contributor activity during the round. By examining these metrics, we can gain a deeper understanding of the round's dynamics and its implications for future funding rounds.

Definitions:

What is Solana?

Solana is a blockchain platform designed to host decentralized, scalable applications. Founded in 2017, it is an open-source project currently run by Solana Foundation based in Geneva, while the blockchain was built by San Francisco-based Solana Labs. Solana is much faster in terms of the number of transactions it can process and has significantly lower transaction fees than rival blockchains like Ethereum.

What is CUBIK?

Cubik is a revolutionary platform that empowers users to fund public goods on the Solana blockchain. The concept of public goods refers to resources or services that benefit the entire community, from education and healthcare to environmental initiatives. However, traditional funding mechanisms often struggle to efficiently allocate resources to such public goods. Cubik sets out to address this challenge by providing a decentralized and community-driven funding mechanism. Through its intuitive and user-friendly interface, the platform enables anyone to participate in supporting projects that align with their interests and values.

CUBIK: Funding platform