Gitcoin is a blockchain-based platform that serves as a marketplace for open-source development. It is a unique initiative that combines open-source programming projects with a crypto payment system. Gitcoin’s mission is to create a space where projects, independent builders, and funders can connect and collaborate on open-source software. This mission is driven by the belief in the regenerative power of funding public goods.
The project is both a movement and a Decentralized Autonomous Organization (DAO) stewarded by contributors, community members, and GTC token holders. It is a community of builders, creators, and protocols working together to shape the future of the open internet. Gitcoin’s vision is to lay out the future infrastructure of Web3, funding, and providing resources for open-source development.

Gitcoin’s native token, GTC, plays a crucial role in the platform’s ecosystem. It is used to incentivize participation, reward contributors, and facilitate transactions within the platform. GTC also serves as a governance token, allowing token holders to participate in the decision-making process and influence the direction of the project.

The project functions as a decentralized network of developers, creators, and protocols geared towards driving Web3 adoption. It is a platform where the community can fund and build digital public goods, contributing to the growth and development of the open-source ecosystem.

Key Features and Services

Gitcoin Grants: A Cornerstone of Open-Source Funding

Gitcoin Grants is a platform built on Ethereum’s blockchain, allowing for recurring, on-chain payments. It has emerged as a significant tool for funding open-source projects, enabling developers to receive financial support directly from the community. The platform utilizes a unique mechanism known as Quadratic Funding, which optimizes the allocation of funds based on community support. This mechanism ensures that even small contributions can have a significant impact, promoting a more democratic and inclusive funding process.

The Gitcoin Grants platform has two main components: a crowdfunding round and a large matching pool of funds. During the crowdfunding round, grant owners seek community support for their projects. The matching pool of funds is then distributed among the projects based on the number of contributors rather than the total amount raised, ensuring that popular projects with broad support receive adequate funding.

Gitcoin Grants has played a pivotal role in supporting a wide range of projects, from fundamental Web3 primitives to organizations spearheading decentralized science research. It has empowered developers and creators, enabling them to make their mark in the open-source ecosystem.

Grants Stack: A Comprehensive Solution for Grants Management

The Gitcoin Grants Stack is a protocol-enabled solution that allows any community to create, manage, and grow a grants program. It provides a comprehensive set of tools for launching and managing a Quadratic Funding round, empowering applicants to mobilize their community and build on-chain reputation.

The Grants Stack enables supporters to vote with their dollars on the projects they care about, distributing matching funds to the most popular projects that receive the most support. It provides a customizable round features set up, allowing communities to deploy and manage their grants programs according to their specific needs.

Passport: A Home for Your Digital Identity

Gitcoin Passport is an identity verification application that allows users to collect verifiable credentials that prove their identity and trustworthiness without exposing personally identifying information. It serves as a single home for your BrightID profile, your Proof of Attendance Protocols (POAPs), Ethereum Name Service (ENS), and other digital identity markers.

Gitcoin Passport acts as an aggregator of decentralized society credentials, proving your trustworthiness without needing to collect personally identifiable information. By collecting “stamps” of validation for your identity and online reputation, you can gain access to the most trustworthy Web3 services.

Allo: A Protocol for On-Chain Allocation of Capital

Allo is a protocol developed by Gitcoin for the on-chain allocation of capital. It is a set of smart contracts that enable the democratic allocation and distribution of funds through the power of Quadratic Funding. Allo has four important pieces: a round, a voting strategy, a payout strategy, and a project registry.

Built with the Allo Protocol, Gitcoin Grants Stack is the first-ever decentralized, customizable, smart contract-enabled solution that connects communities, grant makers, and grant seekers. It allows groups to pool and allocate funds to support their collective goals, accommodating various funding models, including grants and ongoing contributions.

The Allo Protocol is designed to be open-source, decentralized, and modular, enabling groups to pool and allocate funds to support their collective goals. It offers a new way for communities to fund projects and initiatives, providing a democratic and transparent mechanism for the allocation of resources.

Tokenomics

Gitcoin’s native token, GTC, is a governance token that plays a crucial role in the project’s ecosystem. It is designed to progressively decentralize the Gitcoin platform, giving the community the power to influence the platform’s future direction. The GTC token is not just a medium of exchange but a tool for community governance and participation.

The total supply of GTC is 100 million tokens. The distribution of these tokens is designed to reward both the early users of the Gitcoin platform and future contributors. The allocation of GTC tokens is as follows: 50% is reserved for the community treasury for future participants, 35% is allocated to existing stakeholders, and 15% is distributed as a retroactive airdrop.

The GTC token serves multiple functions within the Gitcoin ecosystem. It is used to incentivize participation, reward contributors, and facilitate transactions within the platform. GTC also serves as a governance token, allowing token holders to participate in the decision-making process and influence the direction of the project.

The tokenomics of GTC are designed to support the project’s mission of building and funding digital public goods. A portion of the GTC tokens is allocated for sale during the project’s Initial Coin Offering (ICO), providing initial funding for the project. The rest of the tokens are distributed over a minimum of 5 years, with 14.5% of the supply released at the Token Generation Event (TGE).

The GTC token also plays a crucial role in the governance of the Gitcoin DAO. GTC token holders can participate in the decision-making process, influencing the development and direction of the project. This ensures that the project remains community-led and aligned with the needs and aspirations of its users.

Highlights

• Gitcoin is a blockchain-based platform that serves as a marketplace for open-source development, aiming to fund and build digital public goods.
• The platform operates as a Decentralized Autonomous Organization (DAO), with the community of builders, creators, and protocols shaping the future of the open internet.
• Gitcoin Grants is a significant feature of the platform, enabling developers to receive financial support directly from the community through a unique Quadratic Funding mechanism.
• The Gitcoin Grants Stack allows any community to create, manage, and grow a grants program, providing a comprehensive set of tools for launching and managing a Quadratic Funding round.
• Gitcoin Passport is an identity verification application that allows users to collect verifiable credentials that prove their identity and trustworthiness without exposing personally identifying information.
• The GTC token, the native currency of Gitcoin, is used as a medium of exchange, a governance token, and an incentive mechanism within the platform.