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In episode 163, we’re excited to welcome Nico Gallardo, Co-Founder 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.

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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.

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Follow Nico and LottoPGF

Twitter - Nico

Twitter - LottoPGF

Farcaster - Nico

Farcaster - LottoPGF

Website

Telegram

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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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