GTC: Gitcoin Governance Token
Gitcoin is the community of builders, creators, and protocols at the center of open web ecosystems. Its mission is to build an internet that is open source, collaborative, and economically empowering. Gitcoin is where amazing Web3 projects launch and grow.
May 25,2021, Gitcoin heartily announce their governance token $GTC along with its DAO. These two crucial components allows Gitcoin to decentralize and build an equitable protocol for funding open source development.
Gitcoin open source software is the foundation for coordination tools that will help humanity solve its toughest challenges. However, despite $500B+ in yearly economic output, developers have traditionally had no means to pay their rent while working on open source projects.
GITCOIN DAO
Gitcoin DAO is consists of community members coordinating to fund public goods, and introduces the Gitcoin token (GTC) to make decisions about where to allocate resources. $GTC is a governance token for credibly neutral developer talent and public goods funding, and the means to progressively decentralize the Gitcoin platform through the GitcoinDAO. GTC is a fork of the COMP/UNI governance systems, built with a delegation prompt built into the retroactive claim process.
The total supply of GTC is 100,000,000 (100M) tokens
- Retroactive Airdrop – 15%
- Gitcoin DAO – 50%
- Existing Stakeholders – 35%
A portion of tokens are reserved for members of KERNEL, to be allocated based on interactions and participation in Block I and Block II.
ABOUT GITCOIN
Gitcoin is a platform to fund builders looking for meaningful, open source work, pioneered in Quadratic Funding, a novel, democratic way to fund public goods in its quarterly Gitcoin Grants rounds
RESOURCES
