Making the digital world accessible to everyone
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Source:   LBank Academy Plate:   Tutorial Reading:   Intermediate Time:   2020-04-18
What is Gitcoin?
Gitcoin (, launched in 2017, is an open-sourced software development platform with a vision to support various open-sourced projects through blockchain and promote the open-source movement. As the main funding and supporting platform for open-source developers in Ethereum, Gitcoin’s highest mission is to fund the Project for Public Goods in the Ethereum Community. Blockchain projects can also attract developers in Gitcoin with high pays. So far different modules including crowdfunding, hackathon, social and educational features have gradually come into form as Gitcoin embraces further expansion.
For example, if you start an open-sourced project or you are managing the code of a Github project, you can post a reward to solve issues which may range from fixing a bug, adding a function, or removing a security loophole. Developers who are intrigued can claim the reward and start writing codes in GitHub. If their submitted Pull Request get accepted, the ETH reward will be automatically sent to their wallet address. In this way Gitcoin tokenizes the open-source collaboration mechanism in Github to incentivize developers and give them extra economic gains.
What is GTC?
According to Gitcoin’s official website, GTC is a governance token with no economic values. It will be deployed to manage Gitcoin in the form of DAO, to allocate funds, solve disputes, and regulate the finance management unit. Gitcoin aspires to facilitate the development and funding of digital public products and accelerate the transition from web2 to web3.
The release of GTC governance token is an important step in the direction of decentralization. GitcoinDAO will take communities onboard in the future to upgrade its open-sourced products in a decentralized way. Then it can be referred as a DAO of DAO, which is to provide decentralized support for DAO of many open-sourced projects.
The total supply of GTC is 100 million, 15% of which will be used for retroactive airdrops, 50% for Gitcoin DAO, and 35% for existing stakeholders. Now airdroped tokens can be claimed on the website with users taking certain steps. Click the following link for the tutorial: "Claiming Tutorial for Gitcoin Airdrop Token GTC".
Why is Gitcoin so popular?
As a main funding and supporting platform for open-source developers in Ethereum, Gitcoin centers around Ethereum projects in terms of financial support in the past few years, which explains its close relationship with Ethereum and Vitalik Buterin.
Vitalik Buterin speaks highly about Gitcoin to which he donated $431 million worth of AKITA tokens from his own account. Because of Gitcoin, he discovered more Ethereum projects which he perceived as remarkable and rapidly growing:
"Gitcoin’s quadratic grants function not only for fund distribution but also as a signaling tool! In the last few rounds, visiting (sorted by popular games) helps me discover many cool Ethereum projects that were previously unknown to me."
Backed by and empowered for Ethereum, Gitcoin expands the Ethereum ecosystem in a pioneering way to create more integrations with other systems for the ultimate upgrading of the entire Ethereum world. The momentum with which it develops will keep rising just as the price of ETH.