Gitcoin (GTC) is an Ethereum-based platform built to provide a decentralized way to finance open source work. It uses a distinctive funding method known as Quadratic Funding, which relies on matching funds. GTC is an ERC-20 token that serves governance roles inside the platform, and the network’s decisions are driven by the GTC token. 

Gitcoin was created by Kevin Owocki in late 2017. It began as a small minimum viable product, yet its core mission was set from the outset and has stayed consistent over time: cutting out recruiters as middlemen and directing resources to open-source projects. The following years involved extensive experimentation, but the project continued through strong support and effective market positioning. In 2021, Gitcoin entered a new phase-January brought in investors, and GitcoinDAO was introduced in May. May also coincided with the GTC token being added retroactively into the system. The platform’s upcoming direction focuses on progressing toward full decentralization, with the aim of reaching what it refers to as Quadratic Lands: a financially democratic digital community enabled by Quadratic Funding. 

What are GTC’s key features and how does it work?

Gitcoin provides an environment where developers can earn money via bounties, sponsored hackathons, or grant-based funding. The goal is to back independent builders and open-source initiatives. At the center of it is a crowdfunding-style matching mechanism called Quadratic Funding. An algorithm ranks projects according to the number of contributors rather than the size of each individual contribution. When more people participate, the matched total becomes larger, even if the underlying amount collected matches that of a project with fewer “investors.” This design encourages involvement from smaller contributors. Gitcoin’s developers view this as important for financial democracy and a more equitable approach-because projects that draw broader attention matter more, and because it helps reduce the risk of manipulation by a small number of wealthy actors. While the model doesn’t eliminate influence from large participants, it makes that impact much harder to achieve. 

The GTC token is used for governance and does not carry economic value in the ecosystem, meaning it can’t be used for transactions or staking. Half of its total supply of 100 million coins is reserved for people who have contributed value to the ecosystem, including contributors, investors, the developer team, and active community members. An additional 15% was retroactively distributed via airdrop to users. With GTC, community-led governance and on-chain voting (where protocol changes are implemented directly on a blockchain) become possible, using an approach similar to what COMP and UNI tokens use.

Where can you buy GTC?

Gitcoin (GTC) tokens can be purchased on multiple platforms, including Binance, KuCoin, and Uniswap V3. They may be traded using stablecoins (USDT), as well as cryptocurrencies such as BTC and ETH, and in some cases against FIAT.

How can you store GTC?

Because GTC runs on the Ethereum blockchain, it can be stored in any ERC-20 compatible wallet. MetaMask is one example of a commonly used option. 

Mining

GTC tokens cannot be mined. The supply is capped at 100 million coins. There are no staking offerings for GTC, since the token is intended strictly for governance within the platform and provides no claim to financial rights.