Gitcoin (GTC) is the leading crowdfunding platform for open-source projects, especially in the Web3 ecosystem. The goal of Gitcoin is to ensure that projects that benefit the public still have the resources to develop sustainably.
Through the quadratic funding mechanism, Gitcoin allocates funds so that projects receiving more support from the community will be funded more. This helps to balance the power between large investors and small individual contributors, while encouraging democracy in capital allocation.
The GTC token is used for protocol governance, allowing the community to vote on development directions and fund allocation. Additionally, GTC also plays a role in incentivizing active participation from donors and developers.
By combining blockchain technology with social impact, Gitcoin is becoming a “launchpad” for thousands of open-source projects worldwide.