Exchange Gitcoin

Gitcoin is a blockchain-based platform that focuses on funding and incentivizing open-source software development through a variety of mechanisms, including grants, bounties, and hackathons. It aims to support the growth of the Ethereum ecosystem and the broader blockchain and cryptocurrency space by connecting developers, projects, and sponsors. Gitcoin provides a marketplace where developers can find paid work, and sponsors can fund projects that align with their goals.

Gitcoin was founded by Kevin Owocki. He launched Gitcoin in November 2017. Kevin Owocki is a software engineer and entrepreneur with a strong interest in open-source software and blockchain technology. Under his leadership, Gitcoin has become a prominent platform for funding and incentivizing open-source software development within the blockchain and cryptocurrency space. Please note that the information provided here is based on my knowledge as of September 2021, and there may have been developments or changes since then.

Gitcoin stands out as a platform dedicated to fostering community growth, particularly within the realm of open-source projects. As of June 2021, it had facilitated the funding of over $20 million for open-source initiatives, boasted a thriving community of more than 160,000 active developers each month, and witnessed the inception of slightly over 1,600 projects.

Gitcoin's ambitious vision extends to the concept of "Quadratic Lands," where it envisions a digital ecosystem founded on principles of digital democracy and a steadfast commitment to nurturing vibrant communities.

Gitcoin and Metalabel joined forces to launch "GITCOIN PRESENTS: The Quadratic Funding Collection" as an open and limited edition blockchain-based release, commemorating the paper "Liberal Radicalism." This paper introduced the concept of quadratic funding, offering a more equitable and diverse approach to funding public goods. This collaborative project achieved remarkable success, raising over $1 million, serving as a testament to the profound impact of Quadratic Funding.

The Gitcoin Grants Program is an empowering initiative that enables individuals who believe in web3 to direct funding toward their chosen causes. The impact of individual donations is amplified through the use of the Quadratic Funding (QF) distribution mechanism. As of now, more than 270,000 individuals have collectively directed over $60 million to support over 3,700 projects.

Gitcoin offers a bounty system that enables users to crowdsource support from readily available developers within the Gitcoin community to address specific technological development challenges. To initiate a bounty, users start by creating an issue on GitHub and then allocate funding through Gitcoin. They provide project details, specify completion deadlines, and include any other pertinent information. Afterward, contributors can express their interest in resolving the issue by filling out a straightforward form. Gitcoin bounties come in two forms: permissioned, which necessitates funder approval before work begins, and permissionless, which allows anyone to complete the bounty at any time. Using Gitcoin bounties, funders have the flexibility to select workers according to their preferences, set deadlines, and cancel at their discretion.

One of the elements associated with Gitcoin is the GTC (Gitcoin Governance Token). GTC is an Ethereum-based ERC-20 token. The GTC token is used for governance within the Gitcoin ecosystem, allowing token holders to participate in decision-making processes related to the platform's development and evolution. Holders of GTC tokens have the ability to vote on proposals, which can include changes to the Gitcoin platform, grant allocations, and other matters that affect the Gitcoin community. The token also facilitates community ownership and decentralized stewardship of Gitcoin's products, protocols, and programs.

Gitcoin has implemented a Stewards Delegation Program, where the voting influence of GTC holders is directly linked to the number of tokens they possess. GTC holders have the option to delegate their voting authority to community stewards, allowing these stewards to cast votes on their behalf while retaining ownership of their tokens. Stewards are community members actively engaged in governance, and their level of influence is determined by the community itself. The greater their voting authority, the higher the level of trust the community places in their stewardship. Becoming a steward is straightforward; individuals can do so by simply agreeing to accept voting rights.

The GTC token has a total supply of 100,000,000 tokens, with distribution as follows: 15% is allocated for a retroactive airdrop, 50% is reserved for the Gitcoin DAO to facilitate governance, and the remaining 35% is earmarked for existing stakeholders. The retroactive airdrop targets previous Gitcoin users, the DAO allocation empowers governance, and the existing stakeholders encompass all those who have contributed to Gitcoin's development, both historically and in the future, with a vesting schedule of at least two years for Gitcoin team members. As of October 4, 2023, the circulating supply of the GTC token is 66,021,392.

GTC is primarily traded on various cryptocurrency exchanges. Some of the popular cryptocurrency exchanges where to buy and trade GTC include Uniswap, Binance, COinbase, Kraken, and Gate.io. 

How to buy GTC coins

To swap GTC create an account on the chosen exchange, complete any necessary identity verification processes, and deposit funds into your exchange wallet. Once your account is set up and funded, search for the GTC token within the exchange's available trading pairs. When you've located GTC, place an order to purchase the tokens, specifying the quantity and price you're willing to pay. After the trade is executed, the GTC tokens will be in your exchange wallet. Remember to exercise caution, conduct thorough research, and adhere to any regulatory requirements when buying the GTC token or any other cryptocurrency.

The average fees on the Gitcoin

Individual contributions to Gitcoin grants are matched with a certain amount of funds from a public funding pool, which is contributed by Gitcoin and other sponsors. The specific fees associated with Gitcoin grants can vary depending on several factors, including the amount of the grant, the number of contributors, and the amount allocated from the public funding pool.

Typically, Gitcoin itself does not charge fees to users contributing to grants, but there may be minor gas fees associated with Ethereum transactions, as Gitcoin operates on the Ethereum blockchain.

THE GTC token wallets 

GTC (Gitcoin Governance Tokens) is an ERC-20 token, which means it can be stored in any Ethereum-compatible wallet such as MetaMask, MyEther Wallet, Ledger Nano S or X, Trust Wallet, Coinbase Wallet, Exodus, Atomic Wallet, Trezor, Infinito Wallet, IMToken, Parity Signer, Guarda Wallet, etc.