Gitcoin (GTC)

About

Gitcoin is a decentralized platform that supports open-source software development by providing a unique funding mechanism. Launched in November 2017, it integrates blockchain technology to incentivize developers to work on open-source projects. Gitcoin's primary initiatives include hackathons, bounties, and grants, which enable developers to earn rewards for their contributions. The platform utilizes quadratic funding, a method that matches community funding efforts to support projects deemed most valuable by the community. Gitcoin's governance is facilitated by its native token, GTC, an ERC-20 token used for platform governance within the Gitcoin DAO. The token allows holders to participate in decision-making processes regarding grant distributions and protocol updates. With over $50 million distributed to various projects, Gitcoin has become a significant player in the Web3 ecosystem, supporting projects in DeFi, climate, and open-source initiatives. Its focus on public goods and decentralized collaboration has made it a hub for developers and funders alike.