What is Gitcoin (GTC) | What is Gitcoin token | What is GTC token
In this article, we’ll discuss information about the Gitcoin project and GTC token
About GTC
GTC is the governance token we’re using to decentralize Gitcoin into a DAO (GitcoinDAO) ecosystem, collectively working to fund the next generation of public goods.
GitcoinDAO aims to be the best place to collectively build and fund our digital infrastructure. With our ecosystem partners, we want to help create the biggest and boldest experiments in open source, and and double down on what works. We are:
- building a community that cares about public goods
- designing & launching experiments
- supporting & scaling them
- collectively governing them
In order to facilitate this, we are working with the community to build GitcoinDAO—the decentralized organization building the vessel to the Quadratic Lands: a better world for public goods and digital democracy.
Holders of the token will help guide Gitcoin’s direction as we move from a partially centralized Web2.5 platform to a completely decentralized protocol. Our first step is turning over governance of Gitcoin Grants to community stewards, but over time increasingly more decisions will be left entirely in the community’s hands.
Want to get involved in governance? Join a workstream here!
Earn: Earn while building open source public goods projects that matter.
Learn: Learn from industry leaders and build meaningful relationships.
Connect: Team up with a community of builders to take on exciting open source projects.
Fund: Support open source projects building the future of the open web.
How it Works
The Gitcoin governance ecosystem is built around GTC, which leverages a COMP/UNI style governance that makes on-chain voting, snapshot voting and community led governance possible. At its base layer, GTC is a standard ERC20-style token with a 100mm supply. 50% of the token supply has been allocated to those who have provided value to the ecosystem in the past (community members, investors and the existing team), and 50% will be unlocked for the community to manage in the future.
At launch, GitcoinDAO has an even split between past Gitcoin builders and participants, and future ones. The tokens reserved for future builders will be held in treasury, governed by community stewards and then ultimately the DAO.
GTC has NO economic value, it is a governance token only. It’s contract address is 0xDe30da39c46104798bB5aA3fe8B9e0e1F348163F.
Why build Web3?
The internet has unlocked unprecedented opportunities for collaboration and creation. Now web3 technology like open source protocols and decentralized blockchains give us the ability to take that co-creation to a new scale. The Gitcoin community uses this technology to fund and build digital public goods projects that serve everyone, and solve our most immediate problems.
Open
Open source code meets open economies. Build resilient projects, better coordination, and positive-sum outcomes.
Empowering
Growing networks with aligned incentives towards the wellbeing of each participant and the system as a whole.
Collaborative
Through distributed funding and organizations, we build together toward our shared goals.
Earn from projects that matter
Work on open bounties, take part in hackathons sponsored by some of the most innovative Web3 organizations, or start the next great public works project. Earn for the public good, and contribute to solving some of humanity’s most pressing coordination problems. Builders have earned over 3.84m through Gitcoin, join us!
Learn to navigate and build Web3
Want to check out new protocols, tools, and teams? Level up your build skills through regularly scheduled sponsored hackathons. Participate in workshops and roundtable discussions hosted by influential Web3 experts. Or learn alongside your talented peers in the Kernel fellowship program. Get good with Gitcoin.
Connect with like-minded builders
Gitcoin is the very center of Web3, with a vibrant and growing community of open source builders. Find peers who will compliment your skillset and team up to take on bounties and hackathons. Or join a cohort of Web3’s rising stars in the 8 week Kernel fellowship program. Build lasting relationships through Gitcoin.
Fund the open web and shape its future
Give back and become a true leader of the open web. Choose the projects and technology you believe are most vital, and contribute to them directly during quarterly Gitcoin Grants rounds. Let’s fund the future together, and build the world we want to see.
Token Info
Amount: 100mm tokens
50% allocated to the Community Treasury (future builders).
50% allocated to active community members, team members, and investors (past builders).
Near term: Govern Gitcoin Grants
Medium term: Identity & Reputation
Long term: Decentralized Protocol
How and Where to Buy Gitcoin ?
GTC token is now live on the Ethereum mainnet. The token address for GTC is 0xde30da39c46104798bb5aa3fe8b9e0e1f348163f. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.
Just be sure you have enough ETH in your wallet to cover the transaction fees.
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step
You need a wallet address to Connect to Uniswap Decentralized Exchange, we use Metamask wallet
If you don’t have a Metamask wallet, read this article and follow the steps
☞What is Metamask wallet | How to Create a wallet and Use
Transfer $ETH to your new Metamask wallet from your existing wallet
Next step
Connect Metamask wallet to Uniswap Decentralized Exchange and Buy, Swap GTC token
Contract: 0xde30da39c46104798bb5aa3fe8b9e0e1f348163f
Read more: What is Uniswap | Beginner’s Guide on How to Use Uniswap
The top exchange for trading in GTC token is currently LBank, Uniswap (V2), MXC.COM, and 1inch Exchange
Find more information GTC
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