GTC
@Gitcoin defines itself as a community of creators and protocols to develop the future of the open internet. The platform’s cryptocurrency is GTC. In addition, Vitalik Buterin, the founder of Ethereum, is one of the project’s biggest supporters.
Gitcoin is governed by a DAO (decentralized autonomous organization). The GTC token is necessary for the creation and financing of the DAO that will govern Gitcoin. GTC token holders can have a say in decisions about the platform’s future.
The DAO has been described as the “ship” of Gitcoin’s mission. It consists of community members who coordinate to fund public goods. Decisions are made about where resources will be allocated. Moreover, GTC is gradually decentralizing Gitcoin as its governance token through the Gitcoin DAO.
Gitcoin enables projects, independent developers, and funders to connect and work together on open source software. Project owners can post ads on Gitcoin, while graphic designers and software developers can choose the project that suits them and receive payment in cryptocurrency.
Gitcoin also helps sustain open source projects that add significant value to the Web3 ecosystem. Funders can support projects they deem beneficial to the Web3 ecosystem through Gitcoin.
Projects can also organize hackathons on Gitcoin. Individual participants can participate in these hackathons to win prizes and connect with their peers.
Individuals can also participate in hackathons organized by projects to win prizes and connect with their peers. Data and funds are stored on the Ethereum blockchain, ensuring that Gitcoin is not in a position to monetize users' data.
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