GTC meaning in Cryptocurrency ?

To find out even more about this project, check out our deep dive of Gitcoin.

Gitcoin describes itself as a community of builders, creators and protocols that have come together in order to develop the future of the open internet. Gitcoin creates a community that supports new infrastructure for Web3 — includingn tools, technologies and networks — to foster development in the open-source sphere.

GTC is Gitcoin’s governance token, launched in late May 2021. The token is needed for the creation and funding of the DAO that will govern Gitcoin.

Gitcoin was founded by Keving Owocki and Scott moore. Owocki is CEO, Moore is technical growth lead and is director of research.

Gitcoin is unique in that it is a platform that supports community building, specifically for open source projects. As of June 2021, over $20 million has been funded for open source projects through Gitcoin, there are over 160,000 active developers monthly and a little over 1,600 projects created.

Gitcoin aims to create a future vision called “Quadratic Lands” — a digital ecosystem with digital democracy and a strong emphasis on community building.

Learn more about EFFORCE.

See more about Uniswap.

Learn more about DAOs.

Check out the CoinMarketCap blog.

The total supply of GTC is 100,000,000 tokens. 15% is set aside for a retroactive airdrop, 50% is in the Gitcoin DAO and 35% is for existing stakeholders. The retroactive airdrop is for past users of Gitcoin, the DAO allocation is for governance purposes and the existing stakeholders include anyone who has contributed to building Gitcoin in the past or the future (with a vesting schedule of at least two years for Gitcoin team members).

For more information about GTC’s distribution, see here.

GTC has no economic value, according to the token’s introductory blog post. Token is a fork of the COMP/UNI governance system, with a built-in delegation prompt in the retroactive claim process.

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