Buy Gitcoin (GTC)

What is Gitcoin?

Gitcoin is a decentralised collaboration platform operating on the Ethereum network. It supports open-source projects by leveraging blockchain technology, aiming to promote the development and sustainability of the open-source movement. Gitcoin facilitates funding for these projects using decentralised mechanisms such as grants and bounties.

How does Gitcoin work?

Gitcoin functions by connecting developers and projects with funding opportunities through various programs and protocols. It uses technologies like smart contracts, primarily on the Ethereum blockchain and other EVM-compatible networks. Gitcoin employs a unique Quadratic Funding mechanism, which enhances contributions from larger communities, thus optimising public goods funding. Smart contracts streamline processes such as grant distribution and checkout experiences, thereby reducing transaction costs and improving efficiency.

What are the potential use cases for Gitcoin?

Gitcoin has several key use cases including:

• Supporting open-source software development across diverse fields.
• Funding climate-related solutions and projects, sometimes in collaboration with large corporations.
• Strengthening DAO (Decentralised Autonomous Organisation) collaborations and strategic partnerships, thereby fostering governance in the blockchain space.
• Public goods funding through mechanisms that align with community needs, encouraging sustainable development.

What is the history of Gitcoin?

Gitcoin was founded in 2017 by Kevin Owocki to address the financial challenges faced by open-source developers. It has evolved significantly over the years:

• Launched the Gitcoin Grants program in 2019, introducing the innovative Quadratic Funding model.
• Transitioned to Gitcoin 2.0 in 2021, adapting to the expanding Ethereum ecosystem.
• Underwent a restructuring in 2024 to focus more on grants infrastructure specifically for the Ethereum ecosystem, establishing distinct units for product and governance tasks. Throughout its history, Gitcoin has positioned itself as a central figure in public goods funding within the blockchain community.