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Gitcoin is a community funding platform that aims to level up developers of the latest blockchain technology through quadratic funding and an open-source, collaborative approach to getting their projects made. It funds projects, offers bounties for issues solved via its platform, and has a slew of educational and other learning materials designed to teach the next cohort of Web 3.0 developers.

Gitcoin Funding Model

The quadratic funding model means that for every donation made to a project, it is exponentially matched by a larger funding pool. This matching has a massive multiplier for small donations, which trails off (and eventually plateaus) at larger donation levels. This means that projects that are enthusiastically backed by a wide base of the community get more funding compared to those who are only backed a few times by a few wealthy donors. In a simple example, if ten people donate one dollar to one project, and one person donates ten dollars to another. The project which had ten backers, even though the donated amount is the same, will receive more of the overall pool.

Gitcoin’s Mission

Gitcoin’s mission is to give talented developers and a community of like-minded peers the chance to learn from each other by participating in open-source hackathons and bounties, rewarding them in $GTC as they learn and commit to growing their skills. It aims to bring the gig economy to coders and programmers who either already have, or desperately want, decentralized network coding knowledge. Bounties that need to be written in Python, Rust, Ruby, Javascript, Solidity, HTML, CSS, Design, and more, are available on the site.

Gitcoin derives its name from Github – the world’s premier code repository and cloud-management software for development teams, and the nexus point of a thousand open-source projects. Gitcoin has currently funded open source projects to the tune of $43.2 million and has over 332k active developers – with 2000 projects already taken to completion.

How Developers Can Earn and Learn with Gitcoin

As well as earning from bounties and solving Issues on the platform, coders can take part in gamified quests that teach about decentralized coding concepts in a fun, competitive manner. Examples of quests include beginner missions like ‘Pitch Your Ethereum Killer to the VC-Bro” and “What is Cosmos?” to expert quests like ‘A Cypherpunk’s Manifesto” and “Battle the Scalability Trilemma Genie”.

These quests are a central plank of the teaching aspects of Gitcoin’s mission. Decentralized networks are the future, and so everyone should know about them. Gitcoin also operates a Kudos scheme, where developers can recognize each other’s talents and reward them with NFT badges that can be bought and sold on the Kudos marketplace,

How Gitcoin is Governed

Gitcoin operates a DAO (Decentralised Autonomous Organisation) and its community members have the power to vote on the future direction of the platform. Members can also delegate their votes to trusted parties if they don’t want to be involved regularly with the DAO.

The Web 3.0 economy is coming. Developers are scrambling to get the skills necessary to take part and in some cases reinvent this new conception of the internet. Gitcoin, by giving developers the chance to earn while they learn and join a vibrant community of like-minded enthusiasts in a collaborative space, can help be a foundation on which to forge the architecture of this next wave of digitalization.

How can I get GTC?

Getting GTC is easy on Numio. You can use your credit or debit card to purchase ETH or USDC, which can then be exchanged for GTC*, you can swap or trade it for other ERC-20 tokens (up to 100x cheaper than other wallets), and you can send or receive it as a payment. Whatever way you choose you can be sure that you are always in full control of your GTC.

*direct GTC purchases coming soon.

Download Numio to get Gitcoin

How can I get GTC?

Getting GTC is easy on Numio. You can use your credit or debit card to purchase ETH or USDC, which can then be exchanged for GTC*, you can swap or trade it for other ERC-20 tokens (up to 100x cheaper than other wallets), and you can send or receive it as a payment. Whatever way you choose you can be sure that you are always in full control of your GTC.

*L2 trades for other tokens coming soon

 

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