Hello,
I am working on doing an analysis of GitcoinDAO.
I have been poring over the governance forum + many other resources. I wanted to lay out what I understand how the DAO views the utility of GTC/Gitcoin DAO. I wrote this post to hone my own understanding, but also was hoping to solicit understanding by others in the DAO.
Utility
Today
As I understand it from this post, GTC was launched in May 2021 as a governance token for the Gitcoin network, which so far has funded $50 million of public goods and has about 300k users (are these users developers?).
As I understand it from this post, it has been used for
- Ratifying Grants Round Rules
- Ratifying Grants Round Results
- Funding DAO Workstreams
- Ratifying Partnerships with other DAOs
- Ratifying a path forward on the AKITA donation from Vitalik
- Governing the multisig, which presently has $15mm worth of tokens in it.
Tomorrow
As I understand it, the DAO is developing Grants 2.0 + a small handful of other protocols/products. The plan is to increase the governance scope to include these other products and portocols.
It seems like there are plans to do governance token swaps with other DAOs starting with DeveloperDAO. And there is a sense that GitcoinDAO will have access to some of the top DAOs given its brand halo and Gitcoin Grants.
Why would someone want GTC?
Philosophical Reasons
- Someone would want GTC because it creates the solarpunk future they want to live in.
- Someone would want GTC because they value stewardship of ETH public goods (and believe that GTC has an outsize impact on ETH public goods).
- Someone would want GTC because they value stewardship of ALL public goods (and believe that GTC may one day have an outsize impact on all public goods).
Emotional Reasons
- Someone would want GTC because they like Gitcoin’s name.
- Someone would want GTC because they like Gitcoin’s brand & legitimacy.
- Someone would want GTC because Vitalik likes Gitcoin.
- Someone would want GTC because they think Gitcoin Grants is competitive as an ecosystem building service in the DAO space.
- Someone would want GTC because they want to be known in Gitcoin’s social ecosystem.
- Someone would want GTC because they think blockchains will be used for social or public good one day.
- Someone would want GTC because their friends want it.
Rational Economic Reasons
- Someone would want GTC because they believe there is not a lot of GTC outstanding on the market.
- Someone would want GTC because they believe there is a lot of tokens in the GitcoinDAO treasuries.
- Someone would want GTC because they believe Gitcoin plans to build token sinks into its protocols.
- Someone would want GTC because they believe Gitcoin will generate token flow one day.
- Someone would want GTC because Gitcoin may start doing governance token swaps with other protocols (and that Gitcoin Grants discovers up & coming protocols before anyone else). The DeveloperDAO partnership is an early example of this.
- Someone would want GTC because they believe that over time, GTC represents the utility of many emerging projects
Did I get this right? How does the DAO think of it’s value proposition and utility? Which of these value propositions is the core one?
Many Thanks.