Gitcoin describes itself as a community of builders, innovators, and protocols who have banded together to shape the open internet's future. Gitcoin establishes a community that promotes new Web3 infrastructure, such as tools, technologies, and networks, in order to promote open-source development.
Gitcoin's governance token, GTC, was released in late May 2021. The token is required for the formation and funding of the Decentralized Autonomous Organization (DAO) that will control Gitcoin. According to the token's initial blog post, GTC has no economic value. Token is a fork of the COMP/UNI governance system with a built-in retroactive claim delegation prompt.
Gitcoin is unique in that it is a community-building tool designed exclusively for open source projects. Gitcoin aspires to establish a future vision known as "Quadratic Lands" - a digital ecosystem with a strong emphasis on community building and digital democracy.
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