What is Gitcoin?
Gitcoin is an open-source, community-led project to help fund 'public goods' (projects which benefit everyone) in the Ethereum ecosystem. This can include projects such as open-source software, journalism, and community engagement. Gitcoin matches funders to people and projects looking for funding. It's built as a decentralized application on Ethereum.
Gitcoin was founded to better align incentives in open-source development. Previously, many vital actors in the open-source ecosystem, from coders to designers, were not properly rewarded for the economic value they generated. Gitcoin wants to change that.
The Gitcoin community is made up of nearly 40,000 Web3 developers, and has so far delivered over $3 million USD worth of grant funding.
Why use Gitcoin?
Simply, you can support the growth of projects that you believe offer value to others. A powerful aspect of Gitcoin is the matched funding.
Gitcoin uses a process called 'Quadrating Funding'*, which matches your donations with contributions from sponsors of Gitcoin's QF fund.
This matching can exceed the amount you donate, meaning even if you donate 1 DAI, this could become as much as 400 DAI in donations thanks to matching. Some people also use this form of voting to discover new worthwhile Ethereum projects. You can also get inspiration on what to fund from others by checking their profile page.
One area of research that Gitcoin is helping to fund is 'sybil resistance' - identity systems for verifying human actors on the network. You can find a collection of sybil-resistance projects here.
Gitcoin grants quadratic funding is not just for funds allocation, it's also a great signaling tool!— vitalik.eth (@VitalikButerin) March 26, 2020
For the last few rounds, going to https://t.co/F4VFg2s7LJ (sort by top match) has led me to discover a lot of really cool Ethereum projects I previously did not know about.
There are also Gitcoin bounties, which allow workers to explore various open projects and earn bounty rewards for their completion. Here's a quick guide on finding Gitcoin bounties. Gitcoin is funded in part by this bounty system. Gitcoin takes 10% as a platform fee.
Gitcoin quests lets you explore the Ethereum ecosystem in a gamified way to win prizes while learning. Check out Gitcoin quests here.
How to get started with Gitcoin
To use Gitcoin, you first need a Github account. To keep funding fair, Gitcoin uses a number of checks to determine a 'trust level' of a user. This includes the age of your Github account, SMS verification, BrightID, and a few other things (more information here and here). You can get started with Gitcoin Grants here.
To make it even easier for you to find projects of interest, you can find other people's curated 'Collections' of projects.
How to connect your Argent wallet to Gitcoin to fund projects
Once you have a Gitcoin account, you can connect your Argent wallet using WalletConnect.
- In Gitcoin, tap the wallet symbol at the top right (next to your username)
- Click 'Connect wallet', and select WalletConnect
- In Argent, tap "Scan QR code" from the wallet screen
- Scan the QR code from Gitcoin
- In Argent, tap "Connect" on the pop-up that appears to confirm
You are then ready to begin funding projects!
How to qualify as a recipient
If you are a developer or creator in the Ethereum space, Gitcoin encourages you to create a grant so you can start receiving funding! You can check out how to get started by using this link, and choosing "Start a Grant".
If you are technically-minded, you can also contribute to the Gitcoin project code itself - a guide on this is available here.
*Gitcoin describes quadratic funding as: 'The amount received by the project is the amount donated, and an additional amount proportional to the square of the sum of the square roots of contributions received, minus the actual contributions themselves (the sum of the contributions itself, by project)'.
More info on grants: