SotN #47 - Gitcoin DAO & $GTC token, with Kevin Owocki

May 26, 2021

Kevin Owocki, founder of Gitcoin, dives into the exciting world of Gitcoin DAO and its freshly launched $GTC token. He discusses Gitcoin's mission to fund open-source software, revealing the staggering $500B economic value generated by open-source projects yearly. The conversation explores innovative governance models like quadratic voting and emphasizes grassroots involvement in decision-making. Kevin also tackles the challenges of coordination failures in the crypto space, shedding light on the broader implications for public goods funding and community empowerment.

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ANECDOTE

Gitcoin's Impact

Gitcoin has distributed $20 million to open-source developers, enabling some to quit their jobs and work on open internet projects.
This funding has created new opportunities and changed the culture of work for software developers.

INSIGHT

Changing Work Culture

Gitcoin promotes a cultural shift towards fluid work, where individuals choose their projects, hours, and value.
It's changing how we perceive work and the relationship between labor and value.

INSIGHT

Gitcoin and Cypherpunk Values

Gitcoin is a cypherpunk platform funding other cypherpunk projects, extending beyond cryptography to ethos and values.
It supports open-source software development and promotes a decentralized culture.

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Gitcoin is turning itself into Gitcoin DAO, governed by the community and GTC holders!

Come learn all about Gitcoin DAO, GTC distribution, and the responsibilities of the governors!

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🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap ------ State of the Nation #47: Gitcoin DAO & $GTC token Guest: Kevin Owocki

In this week's State of the Nation, we bring on Kevin Owocki to discuss the decentralization and DAO-ization of public goods funding platform Gitcoin, and the launch of their $GTC token. Kevin is the former benevolent dictator (CEO) of Gitcoin and a General in the war against Moloch (human coordination failure).

The purpose of Gitcoin is to provide a platform for open-source software developers to acquire funding for their projects. Kevin mentions that open-source creates $500B in economic value yearly. In the crypto space, and on the internet at large, open-source development means that something is free to use, fork, or build on. This accessibility has been a driving force behind web development, and Gitcoin's mission is to create a business model for open-source software developers. Gitcoin has raised around $20M since its initial launch in November 2017.

Gitcoin DAO is seeking to meme itself into the Quadratic Lands, where public goods are well-funded and digital democracy reigns. As Gitcoin has grown, it has come to the point in which a DAO is more well-served for Gitcoin's goals of activism and open-source development. Anti-fragility and distributing points-of-failure are key benefits of transitioning into a DAO. The alignment of incentives between the individual and society is crucial for optimizing capital efficiency and organically generating a better society.

GTC = Grow The Community

------ Resources:

Coordination Failures https://newsletter.banklesshq.com/p/know-thy-enemy-coordination-failures

Claim GTC https://newsletter.banklesshq.com/p/-alpha-alert-claim-gitcoin-token

Gitcoin https://gitcoin.co/

Quadratic Lands https://gitcoin.co/quadraticlands/

Kevin on Twitter https://twitter.com/owocki?s=20

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