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Over the last three years, we’ve collectively built legitimacy around the idea of supporting the core infrastructure we all rely on, and we’re proud of what we’ve been able to accomplish for the Ethereum and broader web3 community. We couldn’t have done it without all of you, and as we’ve mentioned before, there’s still much more to be done.
Hey there! You’re reading a post written at the launch of Gitcoin DAO, May 2021, and a lot has happened in the past year and half.
As an addendum to this original post, here’s an update on what the DAO has accomplished since its launch:
If you’re trying to understand the utility of GTC, in short it is a governance token that holders use to:
Keep reading onward to learn about the token’s history
----------------------------------------------------------------------------------------------------In this post, we’re excited to introduce the GTC token and our DAO that will govern Gitcoin — two crucial components allowing Gitcoin to decentralize and build an equitable protocol for funding open source development.
When Gitcoin first started in 2017 we focused on the mission of growing and sustaining open source software. During my 10 years in tech startups I had seen that everything and I mean everything in the startup ecosystem was built on top of open source. From the protocols that are the substrate of the internet, to Linux, to WordPress (the most popular content management system in the world) billions of dollars in economic activity, and billions of users interact with open source every year.
On Wednesday, May 12, 2021 Ethereum creator Vitalik Buterin sent 49 trillion Akita Inu tokens (AKITA) worth approximately $5mm at the time of this posting to the Gitcoin Community’s multisig wallet. This wallet is used to offer matching funds for Gitcoin Grants rounds. Gitcoin Grants is a quarterly crowdfunding campaign for open source projects. These projects get a portion of the match funds based on their fundraising success.
Gitcoin began in 2017 as a passion project for Kevin Owocki with the goal of empowering developers to earn while building open source, digital public goods projects. By...
Since the birth of computing, open source software (OSS) has contributed immense value to the tech community. The collaborative, transparent nature of open source...
Gitcoin is an open source bounties platform on the Ethereum blockchain. We facilitate a space that allows open source developers to get paid for their work contributing to open source projects and in return, the open source projects get exposure to a vast community of hard working developers they might not have had otherwise.
Gitcoin sounds like a token. I know. But… it isn’t. Let’s explore the landscape of tokens, when we believe a token is warranted, why Gitcoin hasn’t fit into that category, and what might change our perspective.