Gitcoin: The "Arsenal" of the Ethereum Ecosystem
Editor's Note: This article comes fromBlock beats BlockBeats (ID: BlockBeats), Author: 0x26, reprinted by Odaily with authorization.
Editor's Note: This article comes from
Block beats BlockBeats (ID: BlockBeats)
Block beats BlockBeats (ID: BlockBeats)
, Author: 0x26, reprinted by Odaily with authorization.
I don’t know if you have used the DeFi tool Zapper.fi to query and track the traces of giant whales, searched for “wealth codes” and project introductions in defiprime, or read articles in Bankless, EthHub and The Definat, and conducted governance in Snapshot vote. These basic tools we have taken for granted, but you may not know that these projects have been funded by an organization. Not only that, Chainlink, Metamask (little fox), Aave, MakerDAO and other well-known names in the DeFi world also need the help of this organization to make up for loopholes and improve their own development.
This is Gitcoin, which was established in 2017 and is now the "Arsenal" of Ethereum.
Everyone only knows that the ecological environment of Ethereum is good, and there are a steady stream of developers and users, but they have never understood the Gitcoin that silently paid for it. Like domestic OKcoin and foreign Coinbase, it can be said that there are "Whampoa Military Academy" trading platforms at home and abroad, but apart from "Gitcoin", it is rare to see a platform that focuses on serving blockchain programmers.
The Organization Behind Ethereum
In a nutshell, Gitcoin is an open-source Ethereum bounty platform, where blockchain projects can use a certain reward to find developers in need. With the development of the platform, it has extended crowdfunding, hackathon, social and educational attributes and other modules.
Town Square
As can be seen from the picture above, there are many famous people in the seventh round of Gitcoin’s GRANTS funding plan. In addition to V God’s personal promotion, the seventh round includes mature DeFi projects BalancerLabs, Synthetix, iearnfinance (YFI), YAM.Finance , MEME funding, as well as funds from Chainlink and the Ethereum Foundation, as well as funds from the well-known Compound founder Leshner and developer bantg, Ethereum developer mariano.eth, EthHub founder Eric Conner, and the well-known community LobsterDao , as well as funds from well-known investment funds Future Fund, Three Arrows and Defiance.
Bounties
After successful projects, founders, well-known communities, developers and investment funds have achieved certain success, they fund the development of projects in the ecosystem. It feels like getting rich first and then getting richer. It is also one of the common methods used by successful investment institutions at home and abroad . This continuous virtuous cycle of <success-feedback-success> may be one of the reasons for the vigorous development of the Ethereum ecosystem.
Hackathon
Hackathon,What can Gitcoin do today?
Grants
With the development and evolution of the platform, Gitcoin has a large number of new features and comes with social, competition, funding and educational attributes.
After entering Gitcoin, the homepage is Town Square. As a comprehensive page, users can express their opinions and ideas here, or find bounty jobs that suit them. Because it is the platform closest to the code, you can learn a lot of novel ideas and ideas here, and even find like-minded programming partners.
Bounties used to be the main body of Gitcoin. Programmers can participate in the bounty program of open source projects. The platform has refined settings for bounty tasks. For example, you can choose to get rewards as DAI or project tokens. Programmers can participate in rewards such as competition type (multiple members participate, take the first prize), cooperative type (multiple members participate, bonuses are divided equally) and traditional type (approved applicants complete all tasks and receive rewards) Allocation. Users can get guidance in the official wiki document, as well as guidance for the project party to release bounty tasks.
It is a hackathon. It is well known that there are many hackathons in Ethereum. For example, ETHOnline just ended not long ago, and Uniswap, which started the DEX boom, also came from hackathons. Gitcoin also holds a variety of hackathons, not limited to the Ethereum space. Not long ago, Gitcoin held the Hello World! by Polkadot hackathon jointly organized by Polkadot, Phala, Acala, etc. This event attracted more than 1,000 developers and a total of more than 1,800 projects participated. It is very meaningful to attract so many blockchain developers, and to hold such a creative and innovative event. very important thing.
Quests
Gitcoin Grant is an experiment where developers can fund their open source projects to benefit the public through CLR donations. Gitcoin's CLR fund is sponsored by donors in the Ethereum ecosystem, and the core is to achieve by binding personal current and long-term interests The balance between individual short-term interests and collective long-term interests. This fund allows anyone to donate with as little as 1DAI (= 1 USD) and is used to help developers get the cash flow to support open source projects that add value to the ecosystem. Grants make up for many deficiencies in the ecology, so that Ethereum can help those products that do not have much interest income, but are essential.
It's worth noting that Grant's CLR design is very much community-driven, and what's amazing about this event is that it's entirely community-driven. Projects with the most community support (in terms of number of contributors) will receive the largest portion of the matching pool. At the same time, in the Grants voting stage, the calculation parameters of CLR will make 10 people donate 1DAI with a higher weight than 1 person donating 10DAI or 2 people donating 5DAI. This fully reflects the significance of community decision-making, and also allows Grant-funded projects to meet the original intention of adding value to the community.
Grants development path
Vitalik, the founder of Ethereum, said in his speech in Shanghai Wanxiang in 2020: Gitcoin’s Grants is a quadratic financing mechanism, and it is used to fund public goods in the Ethereum ecosystem. I've talked about Grants many times, and I talked about it at last year's conference. Quadratic financing is a decentralized governance mechanism that enables communities to have some way of allocating funds to essential public projects, choosing the ones they deem most valuable. There were seven ballots, all very successful, and people were very happy with the results of the distribution.
Kudos
Quests is a module that uses gamification to understand the Web3 ecology. Each Quest covers a topic in the Web 3 space. After successfully completing the task, you will receive the corresponding honor and points to improve the level.
Kudos Marketplace
Quests designed a variety, multi-level game
Like the Tower of Babel, Quests is still evolving, optimizing test content and Web3 knowledge, and users can also make proposals for Quests content on Github. At the same time, Quests also has a ranking system to encourage users to continue exploring. After completing the task, you can get Kudos, the NFT badge of Gitcoin. On Gitcoin, Kudos are a great way to express gratitude and build relationships with other users, as detailed below.
Kernel
Kudos for completing Quests
Kudos are an innovative way to express gratitude and build relationships, think of them as a token of gratitude, or a sticker that marks an important job. Plus, it's a way to showcase special skills a member may have, such as Python or Design. At the same time, Kudos can be bought and sold on Kudos Marketplace (similar to the sale of props with Steam).
Users themselves can create Kudos to represent their personal brand, engage with the community and create rewards for desired actions. Kudos are created by providing relevant information and in SVG file format. Alternatively, submit a request to have someone create Kudos art for you.
Kudos can be given as gifts from other Gitcoin members. Kudos can also be purchased with ETH on the Kudos Marketplace. Completing the Gitcoin Quest will also receive Kudos as demonstrated above. Note that each Kudos is limited and distributed on a first-come, first-served basis.
Kernel is a web3-native, community-focused accelerator project.
Simply put, the first round of KERNEL is an 8-week course with a new learning module every week. Each module consists of two parts: carefully crafted readings; and a comprehensive set of articles, videos and the occasional podcast, with regular weekly online discussion learning.
Module 2 course, discussing the evolution of finance, paving the way for the subsequent Web3 content
At the same time, Gitcoin also jointly launched the KERNEL Fair Launch track with Fair Launch Capital, a well-known community-based organization that has emerged with the rise of DeFi, to help the team explore a token distribution mechanism that allows community participation, maintenance, and long-term governance. The KERNEL Fair Launch track will be part of the second phase of the KERNEL Fellowship, a series of workshops dedicated to founders or enthusiasts in the cryptocurrency community hosted by FLC's Joe Gerber (IDEO) and Reuben Bramanathan (ex-Coinbase Product/Legal).
Gitcoin sets Ethereum apartAlthough Gitcoin has coins, Gitcoin does not launch profitable tokens. It may be because of Gitcoin, Snapshot, a respectable basic project that is not for profit, that makes Ethereum different. Issued in Ethereum, not just in Ethereum, today’s Gitcoin has gradually become the code platform for the entire blockchain industry. Binance, Polkadot, Tezos, Cosmos, Conflux and many other teams have also participated in the Gitcoin platform to contribute to the community , while accepting the huge programming resources of the community.There is no doubt that Gitcoin has become an indispensable part of the Ethereum ecosystem. In the open source blockchain world, project codes can be easily copied, but outstanding ideas and ideas cannot be copied. Why other public chains can only passively follow the DeFi and NFT hotspots created by Ethereum, at its core, is probably because they do not have a sustainable innovation capability. This kind of continuous innovation ability is not created out of thin air, and requires an "organic soil". Gitcoin plays a key role in Ethereum to incubate and cultivate "new seedlings" for the entire ecology selflessly.
