Gitcoin incentivizes open-source development through rewards and grants, using a quadratic funding mechanism for fair fund allocation. Governance is driven by the Gitcoin Token (GTC), allowing holders to participate in voting and governance decisions. With a total token supply of 100 million, GTC holders can stake tokens to gain increased voting power through vGTC. Gitcoin has raised $11.8M across two funding rounds to support its initiatives.
Value Proposition:
Gitcoin supports open-source software development by incentivizing developers through rewards and grants. It facilitates funding for public goods projects, using a quadratic funding mechanism that democratizes fund allocation.
Governance:
The governance process of Gitcoin revolves around the Gitcoin Token (GTC). GTC holders can participate in on-chain and snapshot voting. The Steward Council, composed of GTC holders, reviews and discusses changes and initiatives. Voting occurs both off-chain on Snapshot and on-chain on Tally, allowing community members to influence funding allocation, governance changes, and strategic direction.
Tokenomics:
GTC has a total supply of 100 million tokens. GTC functions as a governance token within the Gitcoin ecosystem, where holders can stake GTC to receive vote-escrowed GTC (vGTC) for increased voting power.
Previous Funding:
Gitcoin has raised a total of $11.8M in funding over 2 rounds.
