Gitcoin (GTC) is a governance token for a decentralized platform that combines open-source programming projects with a crypto payment system. It enables community ownership and decentralized stewardship of Gitcoin’s products, protocols, and programs. The token facilitates community governance, allowing users to propose and vote on various proposals, and is deployed on the Ethereum mainnet.
Gitcoin (GTC) is the native governance token of the Gitcoin decentralized autonomous organization (DAO). It plays a crucial role in the governance and decision-making processes within the Gitcoin ecosystem. Here are some key ways GTC is used:
Governance and Voting: GTC token holders have the power to vote on proposals and decisions related to the Gitcoin platform, including the allocation of funds for public goods, dispute resolution, and treasury management.
Protocol Utility: GTC is used in various experiments and protocols within the Gitcoin ecosystem, such as identity staking on Passport, which helps determine the "price of forgery" to reduce Sybil attacks.
Regenerative Signaling: GTC is seen as a way to signal support for regenerative projects and public goods, aligning with Gitcoin's mission to fund and support open-source development.
Grants and Funding: GTC holders influence the distribution of funds from the Grants Matching pool, which supports open-source projects through quadratic funding.
Staking and Rewards: GTC can be staked to prove humanity on Passport, and users can earn rewards through various mechanisms, such as the Gitcoin Staked ETH Index (gtcETH).
Overall, GTC is the driving force behind decentralized community ownership and stewardship of Gitcoin's innovative products, protocols, and programs.
To store Gitcoin (GTC) tokens, you can use any ERC20-compatible wallet. Here are the steps:
- Choose a Wallet: Select a wallet that supports ERC20 tokens, such as MetaMask, Trust Wallet, or Ledger Live.
- Add Custom Token: Add the GTC token to your wallet by entering the token's contract address (0xde30da39c46104798bb5aa3fe8b9e0e1f348163f) and other necessary details.
- Transfer GTC: Transfer your GTC tokens to the wallet you have set up.
Alternatively, you can also store GTC tokens on platforms like KuCoin, which offers both custodial and non-custodial wallet options.
To buy Gitcoin (GTC) tokens, you can follow these steps on various platforms:
Binance- Navigate to the "Buy Gitcoin with USD" page on Binance.
- Select Gitcoin and USD from the dropdown menu.
- Choose either "Google Pay" or "Apple Pay" as your payment method.
- Create and verify your account by signing up with Google, Apple, or entering your name and email.
- Add funds using a bank deposit or credit card.
- Click on the Kriptomat icon, select "Buy," choose Gitcoin, enter the amount, preview the transaction, and confirm your purchase.
- Create a Coinbase account by downloading the app and signing up with a valid ID.
- Add a payment method such as a bank account, debit card, or wire transfer.
- On the website, click the "Buy & Sell" panel and search for Gitcoin. On the mobile app, search for Gitcoin in the search bar.
- Enter the amount you want to buy, preview the purchase, and confirm.
- Create a free KuCoin account.
- Secure and verify your account.
- Add a payment method.
- Buy Gitcoin (GTC) on the KuCoin Spot Market.
These platforms provide detailed guides and ensure a secure and easy process for purchasing Gitcoin tokens.