Degeneracy is often defined as a high-risk, speculative behavior in DeFi involving yield chasing, leveraged positions, and lack of fundamentals. Can we use this often-extractive behavior for the good of many?

Gnomish is a degenerate public goods non-quadratic funding on Base, a layer 2 scaling solution for the Ethereum blockchain. Our project is utilizing the ever-present power of memes for the benefit of the ecosystem, enabling:

• Meaningful allocation of often meaningless tokens.
• Distribution via provably verifiable, private random functions.
• Endless memes, and...
• Risk of rug! (<1%) ⚠️👀

By leveraging the degen culture, Gnomish strives to create a new narrative arc – Dump your Memecoins to Pump the public goods… Expect the Unexpected!

How does it work?

When a user visits the platform, they are presented with a set of projects that has been selected to participate in the current funding round. Immediately after, the user is offered to select a memecoin of their choice and proceed to transfer the funds to the specific RoundPool.

Every round is finalized after a 2-week open funding cycle, leading to an Event of Randomness – the crown jewel of the platform.

When memes hit the fan users will be able to observe a dashboard update that will uncover the following:

• Which #project will receive 100% of which #token. a) Some projects might receive multiple tokens supplied. b) Some projects may not receive any.
• What will be the distribution strategy? a) Some projects might receive all the funds immediately. b) Some projects may receive the funds with a random cliff, and or random vesting.

Why?... You ask!?... Why not, we answer!? Once a degen, always a degen. Thanks to Gnomish we can now feel the thrill of randomness and potential rug pull all while funding public goods on Ethereum!

What next?

• multiple code reviews
• deployment on Arbitrum
• enabling matching pools
• onboarding public good projects
• onboarding memecoins