A BULL/BEAR case for Gitcoin/GTC in 2023

[a33titude]

@chaselb

Right now, under the current token voting model, we are incredibly vulnerable to centralized takeover by wealthy attackers.

GTC is already managed by a centralized group of actors. They are the insiders who work for the DAO workstreams.

At least 6 of these top 10 stewarts work for the DAO. Just look at how much power they have on tally.

Unfortunately this is the same group that makes me somewhat bearish because

1. getting Gitcoin on the right course requires them
2. they don’t really seem to view the project like a GTC holder does
3. they don’t share much information about their plans until they are already in motion
4. there is not much accountability for them outside of the confusing and time consuming quarterly budgeting process (which in practice just gets rubber stamped because TINA)

I wrote more about these concerns here

@a33titude

• Gitcoin has a quite large team working for it. The team is illegible and opaque to outsiders, expensive, and slow to ship useful software. At times it can seem to me as an outsider that the team misses basic things in their product and go-to-market or seems the team almost tripping over itself. DAO Governance is hard but important, running a DAO is new territory, and it is not clear that Gitcoin has figured it out yet. Gitcoin has not explained its competitive positioning publicly or published its 2023 roadmap (like I said its illegible to outsiders) so I am operating with limited information here.