This Proposal Is expected to appear on Snapshot for Voting on Monday June 7th, 2021.
- Proposal to Whitelist GTC.
- Proposed Co-Investment 250K BNT.
- There are no apparent Security Concerns that would prohibit Whitelist Status.
- There is no reason to doubt the legitimacy of the Gitcoin (GTC) Team.
- The Volume Levels indicate a clear benefit to Bancor.
- The Gitcoin Community is made up of veteran open-source Devs. Capturing the attention of their ecosystem could be incredibly helpful for our Grants program and future 3rd party analytics.
Contract Address : 0xde30da39c46104798bb5aa3fe8b9e0e1f348163f
Project Website : Gitcoin.co
Security / Tokenomics
GTC does not have an elastic Supply, or Re-base Mechanism. At its base layer, GTC is a standard ERC20-style token with a 100mm supply. 50% of the token supply has been allocated to those who have provided value to the ecosystem in the past (community members, investors and the existing team), and 50% will be unlocked for the community to manage in the future. At launch, GitcoinDAO has an even split between past Gitcoin builders and participants, and future ones. The tokens reserved for future builders will be held in treasury, governed by community stewards and then ultimately the DAO. GTC is a fork of the COMP/UNI governance systems, built with a delegation prompt built into the retroactive claim process.
All GTC allocated to Gitcoin’s team members are subject to a vesting schedule of at least two years. All GTC allocated to Gitcoin’s existing stakeholders are non-transferrable for at least 500 days, or longer if Gitcoin’s Board of Directors determines that a longer period is necessary to comply with regulatory or other applicable restrictions.
GTC is the Governance token for the GitcoinDAO allowing for the building and funding of digital public goods. GTC is used to work on decentralized grants, managing disputes, and governing the treasury.
“GitcoinDAO aims to be the best place to collectively build and fund our digital infrastructure. With our ecosystem partners, we want to help create the biggest and boldest experiments in open source, and and double down on what works. We are:
- building a community that cares about public goods
- designing & launching experiments
- supporting & scaling them
- collectively governing them
In order to facilitate this, we are working with the community to build GitcoinDAO—the decentralized organization building the vessel to the Quadratic Lands: a better world for public goods and digital democracy.
Holders of the token will help guide Gitcoin’s direction as we move from a partially centralized Web2.5 platform to a completely decentralized protocol. Our first step is turning over governance of Gitcoin Grants to community stewards, but over time increasingly more decisions will be left entirely in the community’s hands.
Want to get involved in governance? Join a workstream here!”
As of right now GTC’s Main pools are the Uni V3 and V2 Pools with V3 being the biggest pool at 2M USD TVL. A 250K BNT Co-Investment would allow us to initially overtake the V2 Pool while simultaneously probably cause a decent amount of liquidity to migrate from UNIV3 to Bancor (1.2M USD ~ GTC Space). As we can see from the pictures below GTC’s Liquidity to Volume Ratios are quite lucrative particularly due to the very recent launch. This Whitelisting opportunity also brings the Gitcoin Community, which is made up of hardcore open-source devs into our ecosystem.
Community and Communication
Market and Trading Data