Gitcoin is a platform that incentivizes coders and developers to work on building open-source digital infrastructure.

Gitcoin operates as a DAO, motivating coders and developers to contribute to the development of crucial digital public infrastructure. Project owners have the capability to post bounties, including job details, and individuals such as graphic designers and software developers can select tasks aligning with their skills, receiving payment in cryptocurrency for their contributions.

A standout feature of Gitcoin ecosystem is Quadratic Funding, a crowdfunding mechanism that prioritizes projects based on the number of contributors rather than the size of their contributions. This approach ensures that projects garnering broader community support receive larger matching funds, fostering inclusivity and financial fairness.

The GTC token plays a crucial role in governance, enabling community-led decision-making through on-chain voting. While it lacks economic utility within the ecosystem for transactions or staking, it carries importance as a governance tool. Half of the total token supply has been distributed to individuals and entities that have contributed value to the ecosystem, including contributors, investors, the development team, and active community members. This governance structure shares similarities with the approaches employed by COMP and UNI tokens, empowering the Gitcoin community to shape the platform's future.

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Core development team Grants Lab will officially shut down