Grantcoin, an open source software funding platform on the Bsc network, announced the launch of the governance token Gtc, which can vote on the governance of the Grantcoin DAO or manage the Ministry of Finance. There are a total of 1 billion Gtc tokens, of which 30% will be airdropped back, 40% will belong to Grantcoin DAO, 20% will belong to existing stakeholders, and 10% will be added to the initial liquidity pool of pancakes. The airdrop part of the tokens can already be collected through the website.
The airdrop is divided into three stages. The first stage is community reward. In order to reward the early risers in the community, the support discount will be airdropped, which has been completed; In the second stage, network reward is used to reward the users who have made contributions to BSC network. The qualified users will get 10000 GTC token for free for 10 days; In the third stage, community incentive will be implemented, and those who hold more than 7 days will get the same amount of GTC token airdrop.
Participate in the link: https://gbfc.financial
[Open the address in the wallet browser that supports the bsc network]
What is Grantcoin?
Open source software is the foundation of collaboration tools, and it will help mankind solve the most difficult challenges. However, despite the annual economic output of more than 500 billion U.S. dollars, traditionally speaking, developers cannot even pay rent if they commit to open source projects.
This is why we built Grantcoin: Ganttcoin is a platform that provides funding for builders seeking meaningful open source work. We pioneered Quadratic Funding, which is a novel democratic way to fund public affairs in our quarterly Gitcoin Grants program. At the same time, it also plans to provide millions of dollars in bounties, which have been paid to open source developers from all over the world.
With the development of the entire cryptocurrency industry, we have also encountered tremendous resistance. Bitcoin, Ethereum and hundreds of open source cryptocurrency projects eventually received funding and built their own protocols. This is the first time in the history of the Internet that it can bring billions of dollars in funding to the open source ecosystem. We think this has a huge impact, although many aspects have yet to be explored.
Our mission resonated with the crypto community. Now, all of our indicators have seen strong growth.
Understand Grantcoin DAO and Gtc
DAO is responsible for working on Grantcoin. This DAO is like a big ship leading to Grantcoin’s mission. It is composed of community members responsible for coordinating funding for public affairs, and introduced Grantcoin tokens (Gtc) to decide how to allocate resources.
Gtc is a governance token used to obtain reliable neutral developer talents and public affairs funds, and it is also a means to gradually realize the decentralization of the Grantcoin platform through the Grantcoin DAO.
At the beginning of the launch, Grantcoin DAO will oversee the community finance department of Gtc tokens and provide a governance framework for principals (called Grantcoin Stewards) to participate in key ecosystem decisions, such as fund allocation, matching pools.
GTC is a fork of the COMP/UNI governance system, and a delegation prompt is built into the user claim process. We hope that this process will build our DAO ecosystem so that the number of voting participants will be higher than any blockchain-based governance system in the past.
Our goal is to gradually introduce a more formal framework for the continuous development and maintenance of Gitcoin managed through on-chain voting.
For this reason, we are happy to welcome the arrival of Grantcoin token (Gtc).
Grantcoin tokens (Gtc) have now been distributed to active participants of the Grantcoin platform.
The total supply of Gtc is 1,000,000,000 (1 billion) pieces. The distribution method is as follows:
Retroactive airdrop – 30%
Grantcoin DAO – 40%
Existing stakeholders – 20%
Add flow cell-10%
The purpose of this distribution method is to evenly distribute Gtc between past and future contributors.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.