Article Summary, Automatically Generated By AI
Summary of Gitcoin (GTC)
Overview
- Gitcoin creates technologies and opportunities to empower communities to fund, build, and protect public goods initiatives.
- $54 million distributed to early-stage builders through the Gitcoin Grants Program.
Products and Token
- Core products: Gitcoin Grants Stack, Allo Protocol, and Gitcoin Passport.
- GTC is the governance token, launched in May 2021, needed for the creation and funding of the DAO.
Founders and History
- Founded by Keving Owocki and Scott Moore.
- Shifted from a monolithic
About Gitcoin: Empowering Open-Source Innovation
Introducing Gitcoin (GTC): A Revolutionary Incentivization Platform
Gitcoin fosters innovative solutions and opportunities that enable communities to finance, develop, and safeguard the things that truly matter.
Through the Gitcoin Grants Program, a staggering $54 million has been disbursed to pioneering innovators driving forward public goods initiatives in decentralized finance (DeFi), climate action, open-source development, and other impactful areas.
At the heart of our ecosystem lie three core products: Gitcoin Grants Stack, a comprehensive, end-to-end grants management solution; Allo Protocol, an innovative, open-source funding protocol; and Gitcoin Passport, a holistic, decentralized identity management tool that encompasses a wide range of functionalities.
Launched in late May 2021, GTC is Gitcoin’s governance token, serving as a crucial component in the creation and funding of the decentralized autonomous organization (DAO) that will oversee Gitcoin’s governance.
The Visionaries Behind Gitcoin: Meet the Founders
Gitcoin was co-founded by Kevin Owocki and Scott Moore. Since its inception, Gitcoin has undergone a transformative shift from a monolithic platform to a suite of modular protocols, embracing a diverse spectrum of mechanisms, including Quadratic Voting, Direct Grants, and Retroactive Public Goods Funding.
Unveiling the Unparalleled Essence of Gitcoin
Gitcoin envisions a world transformed by community-driven positive change, having catalyzed a staggering $29 billion in global financial impact.
Gitcoin fosters and nurtures the “Quadratic Lands” — an ecosystem characterized by digital democracy and a profound emphasis on community building, where collective growth and collaboration thrive.
What Is the Circulating Supply of Gitcoin (GTC) Tokens?
The total supply of GTC tokens is capped at 100,000,000. A 15% allocation is reserved for a retroactive airdrop, rewarding past users of Gitcoin. The Gitcoin DAO holds 50% of the total supply, dedicated to governance purposes. The remaining 35% is allocated to existing stakeholders, comprising individuals who have contributed to building Gitcoin in the past or will do so in the future, with a minimum two-year vesting schedule in place for Gitcoin team members.
For further details regarding the distribution of GTC, please refer to this resource.
The Security Architecture of the Gitcoin Network
GTC, as stated in its inaugural blog post, is devoid of inherent economic value. Notably, Gitcoin is a fork of the COMP/UNI governance system, featuring a built-in delegation prompt within the retroactive claim process.
Where to Acquire Gitcoin (GTC): A Comprehensive Guide
You can acquire Gitcoin on prominent cryptocurrency exchanges, including Binance, Coinbase, and Kucoin, among others. For a comprehensive overview of our market pairs, please refer to our dedicated tab.
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