What is Gitcoin?

Gitcoin is a decentralized funding platform designed to support open-source development through crowdfunding, grants, and bounties. Launched in 2017, Gitcoin connects developers, contributors, and funders to collaborate on Web3 projects and promote public goods in the blockchain ecosystem.

Gitcoin's native token, GTC, is used for governance, funding distribution, and community-driven decision-making.

How is Gitcoin useful?

Gitcoin enables sustainable funding for open-source projects by allowing developers to earn rewards for contributing to Web3 initiatives. Gitcoin provides quadratic funding grants, where projects receive matching funds based on community support, ensuring fair and impactful resource allocation.

Gitcoin also supports hackathons, bounties, and educational programs, fostering innovation in DeFi, NFTs, and blockchain governance. The GTC token allows users to participate in Gitcoin DAO governance, shaping the platform’s future direction.

How does Gitcoin work?

Gitcoin operates through quadratic funding, a mechanism where matching contributions are distributed based on the number of small donations received, prioritizing projects with broad community support. Users can fund projects, participate in bounties, and join hackathons to earn GTC and other rewards.

Gitcoin runs on Ethereum, integrating Layer 2 scaling solutions to reduce transaction costs. The GTC token governs the Gitcoin DAO, where community members vote on fund allocation, governance upgrades, and ecosystem expansion.

Gitcoin milestones

• Launch of Quadratic Funding Grants: Pioneered a funding model for open-source and public goods.

• Creation of Gitcoin DAO: Established decentralized governance for fund distribution and protocol improvements.

• Integration with Layer 2 Scaling: Reduced transaction costs for grant donations and bounties.

• Expansion into Public Goods Funding: Applied blockchain-based funding to broader social impact initiatives.

• Hackathons and Developer Incentives: Encouraged innovation through community-led funding and competitions.

Gitcoin continues to empower developers and fund open-source innovation, driving sustainable blockchain and Web3 development.

Buy Gitcoin (GTC) on BITmarkets.