2024 was a transformative year for Gitcoin. Together, we accomplished:
- $10M+ GMV
- Nearly $1M in revenue
- A transition into service models, product spinouts (Hello, Passport!), and embracing a multi-mechanism future for our grants program.
The passion and commitment of our community and contributors drove these successes. Momentum is everything in web3 - time to push harder.
As we kick off 2025, we’re picking back up a crucial piece of the convo that we know is already happening, has happened and hasn’t been delivered on - GTC must evolve beyond governance to deliver real value across our ecosystem.
GTC isn’t a speculative asset. It’s a token designed to empower communities, amplify impact, and create sustainable funding for public goods. Just as we look to the community to be missionaries, not mercenaries, we must build meaningful utility for our token.
The Role of GTC: Evolving Beyond Governance
GTC launched as a governance token to empower the Gitcoin community to decide how funding is allocated for public goods. This foundational role remains critical. But we’re ready to take it further.
Our vision for GTC centers on three core functions:
- Empowers Trust: Enables holders to signal legitimacy and amplify impactful projects, creating a web of trust that strengthens our entire ecosystem.
- Incentivizes Participation: Rewards contributions that align with Gitcoin’s mission and values driving our mission forward.
- Sustains Impact: Creates regenerative systems where value flows back into funding public goods.
We’ve spent too long discussing GTC utility without enough action. It’s time for the token to work as hard as our community.
Building GTC Utility That Matters
While GTC has been useful in our governance framework, we are actively working towards expanding its utility to provide value to our community alongside the work with our partners in ways that MAKE.SENSE.
These initiatives are being explored (more below), and we are excited to share more details soon. In the interim, we encourage our community to propose battle-tested mechanisms that our product team and organization can implement. You’ll find many exciting discussions already happening on our forum - dive in and explore previous suggestions below.
We encourage you to reach out for more details as we flesh out our research. Our goal is to make GTC not just a governance tool but also a valuable asset that supports various aspects of our ecosystem.
We are focused on mechanisms that align with our mission to fund impactful projects while fostering trust and sustainability. Here’s how we considering building utility - starting w/ product and then expanding back into our first principles approach at ramping up our community and governance:
- Trust-Weighted Curation that allow holders to signal legitimacy for impactful projects, amplifying their visibility and funding potential.
- Dynamic Incentivization by tying rewards to measurable contributions, GTC will incentivize meaningful participation across our ecosystem wherever we can.
- Regenerative Feedback Loops by creating systems where good work → more visibility → more funding → even more good work, reinforcing the value of public goods.
- Revenue Routing by exploring systems to align incentives and ensure sustainable funding for Gitcoin’s mission including but not limited to buyback and other routes like the treasury diversification(s)
We’re exploring and evaluating mechanisms that represent our commitment to fostering trust, participation, and innovation within Gitcoin.
Grants Lab: Leading the Charge in Gitcoin’s Q1
Over the past few years, we’ve launched multiple initiatives to enhance GTC utility. While many faced adoption challenges, each attempt taught us valuable lessons about what our ecosystem needs.
Recognizing the need for a more structured and impactful approach, Grants Lab is stepping forward in Q1 to spearhead some GTC utility experiments. Building upon previous learnings, the Grants Lab team is working on validation of practical solutions that effectively integrate GTC utility into our products and services. This initiative reflects our commitment to transitioning from theoretical discussions to actionable implementations, ensuring that GTC serves as a valuable asset within the Gitcoin ecosystem.
Some of the previously discussed initiatives highlighted below and you can find more in the references:
- Curation Tools: Enable GTC holders to elevate impactful projects during rounds.
- Staking Models: Pilot GTC staking to enhance Sybil resistance and incentivize trustworthiness.
- Dynamic Reward Mechanisms: Reward contributors who demonstrate long-term alignment with Gitcoin’s values.
Let’s Git to Werk
2025 is our opportunity to make GTC more than a governance token. Together, we’ll evolve its utility to power a stronger, more sustainable future for public goods.
ICYMI Gitcoin remains dedicated to empowering communities to build and fund what matters. GTC is the token that binds us together, evolving from a governance token to an incredible future. These enhancements are designed to ensure financial sustainability, foster community engagement, and amplify the impact of public goods.
References (search GTC or Utility on the forum for more!)
- The Utility of GTC: https://gov.gitcoin.co/t/the-utility-of-gtc/10071
- Discussion: What is the purpose of GTC?: https://gov.gitcoin.co/t/discussion-what-is-the-purpose-of-gtc/11462
- GTC Token Center: https://gov.gitcoin.co/t/gtc-token-center/18859
- GTC - After 2 years: https://gov.gitcoin.co/t/gtc-after-2-years/15567
- Gitcoin Accelerator Program → GTC utility: https://gov.gitcoin.co/t/gitcoin-accelerator-program-gtc-utility/10967
- Roadmap to Network Utility: https://gov.gitcoin.co/t/roadmap-to-network-utility/10546
- Tax Mechanisms for Gitcoin Grants: Tax Mechanisms for GitCoin Grants - #2 by connor