Program Funding & Distribution

Program Funding Overview

Confirmed Local Co-Funding: €11,000 (≈ $12,100)

Miceli Social: €6,000 (≈ $6,600) — commitment letter signed; funds secured on-chain ✅
La Fundició / Keras Buti: €5,000 (≈ $5,500) — commitment letter signed; funds secured on-chain ✅

Global Matching: $18,100 USD (≈ €16,380)

Secured through the Localism Fund — a grants program supporting credible local networks building practical models of political, economic, cultural, and ecological localism using Ethereum infrastructure.

Total Funding Confirmed: €26,000 (€11,000 local + €15,000 from global matching)

Timeline for Funds Availability

Commitment letters signed by both partners ✅
Treasury multisig opened and ready to receive funds ✅
Local funds transferred/on-ramped and secured on multisig ✅ (Oct 31, 2025)
Global matching funds secured on-chain by end of November 2025

Program Budget Breakdown

Confirmed Program Budget: €26,000 (includes Localism Fund matching)

ALLOCATION

DIRECT GRANTS TO PROJECTS — ~85% (€22,000)
- 11 projects participating in the round
- Phase 1: Baseline Allocation (Nov 2025–Jan 2026):
  - Equal distribution: ~€1,000 per project (conditional on completing basic reporting requirements)
  - Minimum participation requirements (required for funding):
    - Participate in at least 2 workshops
    - Open web3 wallet
    - Complete Google Doc activities report by January 12, 2026
    - Submit activities to Karma GAP (January 12–16, 2026)
    - Attend final closeout workshop (January 19, 2026)
  - Evaluation: Lightweight internal review for learning and funder communication only; does not affect funding amounts
  - All projects completing requirements receive equal allocation
- Phase 2: Network-Level Collective Governance (Jan–Feb 2026): €10,000 additional for network-level pools
  - Networks collectively govern funds using selected Web3 tools
  - Distribution method to be determined collaboratively with networks
PROGRAM OPERATIONS & COORDINATION — ~15% (€4,000)
- Round coordination & project support — ReFi BCN team time: Workshops planning & execution • Ongoing project mentorship and technical support • Partner coordination • Communications and community engagement • Karma onboarding and training for all projects • Production of documentation & reports
- Impact evaluation process — ReFi BCN team + advisors’ review time (simplified evaluation)
- Plus additional expenses

OPERATIONAL DETAILS

20% is a maximum operational cap; all remaining funds flow to projects
Exact percentages are being validated with Miceli Social and La Fundició — subject to minor adjustments
Smaller rounds carry higher fixed costs; this allocation ensures quality, accountability, and knowledge generation
Where possible, operational funds may also support lightweight pilots/experiments, aiming to improve project delivery

Two-Phase Funding Mechanism

Projects receive funding through a two-phase distribution tied to completion of requirements and impact evaluation:

Phase 1 — Baseline Allocation (Nov 2025–Jan 2026)

Equal distribution: ~€1,000 per project (conditional on completing basic reporting requirements)
Minimum participation requirements (required for funding):
- Participate in at least 2 workshops
- Open web3 wallet
- Complete Google Doc activities report by January 12, 2026
- Submit activities to Karma GAP (January 12–16, 2026)
- Attend final closeout workshop (January 19, 2026)
Evaluation: Lightweight internal review for learning and funder communication only; does not affect funding amounts
All projects completing requirements receive equal allocation

Phase 2 — Network-Level Collective Governance (Jan–Feb 2026)

€10,000 additional allocated for network-level governance:

Networks collectively govern funds using selected Web3 tools
Primary tools:
- Safe multisig — network-level treasury management (key stakeholders as signers)
- Home Community — mobile app for La Fundición (hides crypto complexity)
- Institutional Development Kit — framework for identifying web3 integration opportunities
Distribution method to be determined collaboratively with networks through sense-making workshops

graph LR
    A[Project Onboarding<br/>Nov 2025] --> B[Phase 1: Baseline<br/>Nov-Dec 2025]
    B --> C[Karma Reports<br/>+ Simplified Impact Evaluation]
    C --> D[Disbursement<br/>Equal allocation ~€1,000/project]
    D --> E[Phase 2: Network Governance<br/>Jan-Feb 2026]
    E --> F[Network-Level Tools<br/>Gardens, Safe, Sarafu, Cycles]
    F --> G[Collective Pool Activation<br/>€10k additional for networks]
    G --> H[Final Reporting<br/>Feb-Mar 2026]

    style B fill:#90EE90
    style E fill:#87CEEB
    style H fill:#FFD700

This phased approach:

Rewards completion of minimum participation requirements with equal Phase 1 allocation (~€1k per project)
Evaluation for learning only — does not affect funding amounts
Empowers networks to collectively govern Phase 2 funds using Web3 tools selected through sense-making process
Creates natural checkpoints for learning and adjustment
Reduces risk for both projects and funders

Financial Infrastructure

Treasury Management

Multi-signature Safe (Gnosis Safe) on Celo for transparent treasury management
Safe address: 0x91889ea97FeD05180fb5A70cB9570630f3C0Be77
Signers: ReFi Barcelona team (2-of-3 initially; expanding to include partner advisors, to be onboarded)
All disbursements publicly documented via on-chain records + Karma updates

Fund Distribution & Support

Funds management & distribution: Safe multisig on Celo
Support: Wallet security guidance and off-ramping support (without legal liabilities)
Transparent Treasury: All funds are managed through the Safe multisig with public on-chain records

Learn More

Program Overview - Complete program information
Program Timeline - Detailed timeline and milestones
Project Guidebook - Guide for participating projects
Network Guidebook - Network-level governance guide

Questions about funding? Contact us at [email protected]