Gitcoin (GTC)
Gitcoin (GTC) is a platform designed to facilitate payment for work on open-source software projects, covering a wide range of programming languages and design skills.
Brief history
Gitcoin was initiated in 2017 by Kevin Owocki with the aim of empowering developers to earn while contributing to open-source digital public goods projects. By the fall of that year, it gained the support of Joe Lubin and became part of the ConsenSys family. Over the years, Gitcoin has evolved into a hub where builders and protocols collaborate to develop and fund the open web. Gitcoin Grants represents the largest implementation of Quadratic Funding, a democratic approach to resource allocation for public goods.
Overview
| Ticker | GTC |
| Category | Near Protocol Ecosystem |
| Website | https://gitcoin.co/ |
| @gitcoin | |
| https://www.reddit.com/r/gitcoincommunity | |
| Contract Addresses | |
|---|---|
| ethereum | 0xde...3f Copied! |
| near-protocol | de...arCopied! |
Gitcoin serves as a platform for funding builders seeking meaningful, open-source work. It acts as a community of builders, creators, and protocols at the forefront of open web ecosystems. Since its inception in November 2017, Gitcoin Grants has distributed nearly $16 million to public goods in addition to $3.54 million in bounties to open-source developers worldwide. The mission of Gitcoin is to build an internet that is open source, collaborative, and economically empowering.
The DAO to govern Gitcoin
The Gitcoin DAO is central to the platform's mission, comprising community members who coordinate to fund public goods and introduce the Gitcoin token (GTC) for decision-making on resource allocation. GTC is a governance token that supports the decentralization of the Gitcoin platform through GitcoinDAO. The DAO oversees a community treasury of GTC tokens and provides a governance framework for delegates, known as Gitcoin Stewards, to engage in key ecosystem decisions.
The path to Gitcoin Grants
Gitcoin launched on the Ethereum blockchain as a bounty platform, facilitating payments for completing GitHub issues. Gitcoin Grants is the first platform on Ethereum's blockchain to enable recurring, on-chain payments. The main use cases include paying developers for maintaining repositories, crowdfunding for open-source projects, and showcasing grant applications. Grants utilize the EIP-1337 standard for subscriptions on Ethereum, allowing for recurring support of projects through meta-transactions. Gitcoin receives backing from ConsenSys, a leading blockchain venture studio.
Teams
Kevin Owocki, the founder of Gitcoin, has been involved in organizing events and projects such as Boulder Startup Week, Ignite Boulder, and the Boulder Blockchain Meetup. The Gitcoin team believes in the strength of community, which directly influences the success of open-source projects. The founding team has built their careers through mentorship, advice, and relationships within the local tech community.