Gitcoin Monthly Meeting - Feb 2025

🧙 🧙‍♀️ Ideas and Open Discussion
1

At the start of each month, the Gitcoin team has an hour-long meeting that primarily focuses on strategy and and progress against our goals. This month, we focused on financial updates, sales pipeline review, and GG23.

Link: Share_Gitcoin Monthly_February25 - Google Slides

Summary:

  1. Kudos & Recognition – Shoutouts to team members for their contributions.
  2. ETH Denver Update – Sponsorships, logistics, and event schedule.
  3. 2025 Funding & Goals – Treasury status, funding strategy, and financial challenges.
  4. Grants Lab 2025 – $25M in grants with a goal of $125M in ecosystem impact.
  5. Revenue & Pipeline Updates – Key revenue deals and targets.
  6. GG23 Update – Upcoming Gitcoin Grants 2023 with various funding mechanisms.
  7. Q1 Rocks – Strategic initiatives for Q1 2025.

Key Takeaways:

1. ETH Denver (Feb 23 - Mar 1)

  • Sponsorships secured: Stellar, Uniswap, Polygon, Filecoin, Metamask, and more.
  • Event Highlights:
    • Schelling Point (Feb 27) – Major Gitcoin gathering.
    • Allo Summoning Event (Feb 26)
    • Team Taco Tuesday (Feb 25)
    • Allo Chill & Shill (Mar 1)

2. Financial & Treasury Update

  • Treasury decline due to token price drop:
    • Dec 2024: $20M (GTC @ $1.10)
    • Feb 2025: ~$9.8M (GTC @ $0.42)
  • Cost reductions in place but a focus on revenue is critical.
  • Spending Plans:
    • GL H2 Funding: -$1.5M
    • Allo Funding 2025: -$2M
    • EOY Treasury = $6.3M

3. Revenue Growth Strategy

  • 2025 Revenue Target: $2M (Make-or-break goal)
  • Key Focus:
    • Large deals & big customers.
    • Token utility experiments for GTC.
    • Optimizing non-stablecoin revenue.
  • January Revenue Performance:
    • Polygon deal: $90K revenue.
    • Filecoin fees: $30K revenue.
    • Total January Revenue: $120K (12% of H1 goal).
  • Q1 Pipeline:
    • Several smaller deals ($10K-$20K each).
    • A large potential deal ($3M GMV @ 10% fee).
    • Total pipeline value: $397K.

4. Gitcoin Grants (GG23) – April 2-23

  • Funding Rounds:
    • Quadratic Funding (QF):
      • $600K in matching.
      • Open to all Web3 projects.
    • Retroactive Funding:
      • Top 30 OSS projects from past Gitcoin Grants rounds.
      • $600K matching.
    • Community Rounds:
      • New governance model using Grant Ships.
      • Gamified incentives & on-chain success tracking.

5. Q1 2025 Objectives (“Rocks”)

:white_check_mark: Multi-mechanism Gitcoin Grants Launch – GG23 will feature new funding mechanisms.
:white_check_mark: Builder Onboarding Initiative – Target of 50 builders within 90 days.
:yellow_circle: $1M grant distribution via OGC – In collaboration with OP Grants Council.
:yellow_circle: Enterprise Partnerships – Ongoing discussions for a $3M+/year partnership.

Conclusion

Gitcoin is facing financial challenges due to declining token prices but is focusing on revenue growth, partnerships, and token utility experiments. GG23 will introduce new funding mechanisms, and ETH Denver will be a key event for networking and ecosystem expansion. Q1 2025 goals prioritize financial sustainability, community engagement, and product innovation. :rocket:

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