🔥_🔥 x Gitcoin
There are few projects that have been built to encompass as much of the ethos of Ethereum and the unwavering commitment to open source technology as Gitcoin.
At 🔥_🔥, we are firm believers in a bottom-up, community-first approach to innovation and decentralisation. Gitcoin’s continuous support for the next generation of builders developing open source tooling is the single greatest example of bottom-up focus and as close to the source as it gets.
Over the past six months, 🔥_🔥 has worked closely with Gitcoin on its progressive path to decentralization by contributing to ongoing token design, GTC mechanics, governance structures and launch strategy.
As core contributors to MetaCartel, Raid Guild, Bankless, The Defiant and numerous other projects which have benefited tremendously from Gitcoin Grants, we’re thankful to be active members of the growing community of open-source builders. We also recently joined as proud partners in the Funders League and have been participating in Gitcoin Grants since inception.
In this post, we’ll dive into why 🔥_🔥 is beyond excited for Gitcoin, the GTC launch, our future involvement as a Gitcoin Steward and how 🔥_🔥 plans to contribute as an active member to Ethereum’s most impactful platform for open source funding.
Gitcoin Stewards
🔥_🔥 will be an active member in Gitcoin governance under the address: 0xD23aff9aD562C445BCaB03321CBfE63bf4b0BcF2
Got GTC? Consider Cooper Turley and 🔥_🔥 as a recipient of your delegation!
As a team that optimizes for on-chain proposals, 🔥_🔥 has been active governance participants for Aave, Balancer, Rocket Pool, Reflexer Labs and more.
We plan to continue this push to further seed grassroots community efforts within Gitcoin, providing incentives and opportunities for active members to earn from their value-added contributions.
🔥_🔥 will be one of the earliest groups to present governance proposals to the Gitcoin Community — building the first steps towards the decentralization of Gitcoin, offering incentives for critical parts of the Gitcoin ecosystem and helping to coordinate the wider group of Stewards.
Gitcoin DAO
Resource allocation is one the first aspects of Gitcoin to become decentralized and one of the most important aspects of any newly launched DAO.
As the Gitcoin DAO sits in the center of a growing Gitcoin ecosystem, 🔥_🔥 plans to play a key role in the management, sustainability and distribution of community resources to ensure transparency and open communication.
From grants programs to treasury diversification, 🔥_🔥 is excited to see how the Gitcoin DAO can leverage its positioning to further support public goods.
We look forward to exploring how primitives like Sybil Resistance and Quadratic Funding can be applied to other aspects of Gitcoin — namely GTC governance. While still nascent, Gitcoin’s leadership in quadratic primitives sets itself up to be a leader in decentralized governance and identity.
Gitcoin Grants
It should come as no surprise that many recognize Gitcoin Grants as a cornerstone of the Ethereum community.
As individuals who have contributed to Gitcoin Grants as far back as Round 2, it’s been fascinating to watch the tremendous growth of the matching pool over the years.
We believe this pool will only continue to grow in value each round, and with that comes an added responsibility to govern and allocate resources accordingly.
As Gitcoin decentralizes, we look forward to the community taking ownership of important aspects of Gitcoin, including the grants matching pool, how funds are allocated across different sectors and how they are then surfaced to visitors of the Gitcoin Grants page.
🔥_🔥 is actively developing a proposal to address the distribution of Grants Round 10 matching and we look forward to sharing this with the Gitcoin community on the governance forum in the near future!
Engagement Incentives
One of the core focuses of 🔥_🔥 has been a proponent of rewarding active contributions to different token and web3 communities.
Building off the idea of Governance Mining and our Governance Mining proposal, 🔥_🔥 is excited to explore how; just like liquidity mining, token incentives can be used to propagate meaningful governance.
Outside of active participation, we look forward to exploring ways to incentivize governance participation, delegation and to reward those who participate in Gitcoin Grants.
Beyond anything else — we want to see GTC distributed to those creating the most value for the community and plan to use engagement incentives as one way to prime the decentralization of that flywheel.
The Path Forward
Without Gitcoin, many of the projects we know and love today simply would not exist.
We believe this trend will continue at exponential rates in the coming years and look forward to creating a foundation for the Gitcoin community to direct and own this platform.
Beyond what exists today, we’re excited to explore how Gitcoin can solve a crucial pain point around digital identity and sybil resistance.
While these problems have historically been the hardest to tackle, we believe that Gitcoin’s positioning as the highest social capital ladder within Ethereum offers a tremendous foundation to work for the open internet.
Until then, we’d like to thank the Gitcoin team for their years of dedication and commitment that has led them to this chapter. 🔥_🔥 couldn’t be more excited to play an active role in this community and look forward to what’s to come.
We’ve been to the Quadratic Lands and let us tell you — it’s radical!
