Convert 0.1 GTC to USD today

Gitcoin is a platform created to fund developers of open-source projects. Gitcoin describes itself as a community of protocol builders and creators coming together to develop the future of the available Internet. Specifically, Gitcoin offers attractive incentive mechanisms to connect the community of open source developers while creating an environment for open source projects to be exposed to other developers.

Gitcoin is designed to grow the open-source community by enabling better incentive mechanisms. To do this, Gitcoin has created a community that supports the new infrastructure for Web3 – including tools, technologies, and networks – to drive development in the open-source space.

Gitcoin works on the idea of ​​Quadratic Funding, a system that allows capital allocation based on community opinion. The goal of Gitcoin is to ensure that projects receive capital proportional to the number of people backing them without depending too much on the amount of money that users contribute. As of June 2021, over $20 million has been funded for open source projects on Gitcoin, with over 160,000 monthly active developers and over 1,600 projects created through the platform.

The GTC token is the governance token of the Gitcoin DAO. As a result, GTC holders will have certain powers in aspects such as community treasury, Gitcoin Stewards, and participating in important ecosystem decisions such as fund allocation, matching pools, or grant collusion.