What is Gitcoin?

Gitcoin (GTC) is a decentralized platform that seeks to empower communities by offering technologies and opportunities to fund, build, and protect what matters to them. The platform's core products include the Gitcoin Grants Stack, a grants management solution, Allo Protocol, an open-source funding protocol, and Gitcoin Passport, a decentralized identity management tool. GTC, the platform's governance token, was launched in May 2021 and plays a crucial role in the creation and funding of the Decentralized Autonomous Organization (DAO) that governs Gitcoin.

How does Gitcoin work?

Gitcoin operates by utilizing its core products to facilitate community-led initiatives. The Gitcoin Grants Stack is a solution for managing grants, enabling communities to create, manage, and grow their own grants programs. The Allo Protocol is an open-source funding protocol that provides a way for communities to distribute pooled funds. Gitcoin Passport, on the other hand, is a tool for managing decentralized identities and defending against Sybil attacks. GTC, the governance token, enables community ownership and decentralized stewardship of Gitcoin's products, protocols, and programs.

What are the potential use cases for Gitcoin?

Gitcoin strives to provide a platform for funding and building public goods initiatives in various sectors, including decentralized finance (DeFi), climate, and open sourcing. Gitcoin has distributed over $54 million to early-stage builders through the Gitcoin Grants Program. The platform also offers a suite of tools for managing grants programs, allocating shared resources, and protecting projects from bots and bad actors. Furthermore, Gitcoin Passport allows users to create a digital identity and prove their humanity without storing personally identifiable information.

What is the history of Gitcoin?

Gitcoin was founded by Kevin Owocki and Scott Moore. Since its inception, the platform has evolved from a monolithic platform to a suite of modular protocols, embracing mechanisms like Quadratic Voting, Direct Grants, and Retroactive Public Goods Funding. Gitcoin has contributed to creating over $29 billion in global financial impact and has cultivated the "Quadratic Lands," an ecosystem focused on community building. The GTC governance token was launched in late May 2021, marking a milestone in the platform's journey towards decentralized governance.