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.
We had a call today with top stewards by voting ( Tally | Gitcoin ) power to discuss the prospects for GTC and each of its side-daos.
Disclaimer: This is for informative purposes only and is not financial advice. DYOR, do not make any financial decisions based on this. All numbers in this model are best knowledge of the people who were there, always refer to the onchain data for current numbers with 100% accuracy. Do not make any financial decisions based on these numbers or post, DYOR!
Product Demo Updates
Ed presented three product demos:
Retrofunding product for GG23 ($600k allocation)
Metrics-based approach vs project-based
Admin panel with program/round management
Embedded Checkr AI review tool
GTC Staking experiment
Will launch with QF voting
Projects with most GTC staked get higher ranking
Staking on Ethereum mainnet due to liquidity
Duration matches round length
Stakers earn rewards based on matching pool ratio
Contest allocation tools
Built for Luxo and Polygon
Leaderboard-style competition format
Tracks metric deltas over 3-4 week periods
Financial Status & Treasury
Current Treasury Position:
Current Treasury @ $7.4M ($5M in stables)
Add’l funds bring that to $10,922,739.52 (treasury div & csdo - $1.2M Stables )
With further org funding needed in 2025 @ $3.3M, will result in ~2 years of runway
Does not include revenue from GL in these calcs - projected @$2M, current @ $260K
Planned Actions:
Moving assets to Zodiac wallet
Implementing DeFi strategies
Cash flow
Drawing down $1.5M for Grants Lab in June 2025
Additional $2.3M drawdown in December 2025
Two-year runway projection (assuming current market prices + revenue)
Grants Lab Revenue & Strategy
Revenue Progress:
$267k booked YTD (exceeding all of previous year)
Potential $200k deal with REDACTED pending contract
Q1 target: $500k ($470k projected with REDACTED deal)
Q2 pipeline currently at ~50% of target
Service Fees:
Programs range from $250k to multi-million dollar rounds
Take rate typically 10% of program value
Focus on direct grants during market downturn
GG23 Program Updates
Multi-mechanism approach launched:
$1.2M total matching pool
Split equally between QF ($600k) and retro ($600k)
Retro round focuses on top 30 GG builders from GG18-GG22
Only one opt-out received
Strong positive sentiment from builders
Record number of community round applications
Operating with lean team (2.5 people)
Exploring further community round decentralization
Various sub-projects with different realization probabilities
Market FDV: $36M
Key Challenges:
Treasury management vs native token preservation
Revenue sustainability
Market cycle impact on grants mechanisms
Technical limitations for non-EVM chains
Resource optimization for community rounds
Disclaimer
Disclaimer: This is for informative purposes only and is not financial advice. DYOR, do not make any financial decisions based on this. All numbers in this model are best knowledge of the people who were there, always refer to the onchain data for current numbers with 100% accuracy. Do not make any financial decisions based on these numbers or post, DYOR!