Gitcoin is restructuring to focus on grants for the Ethereum ecosystem

Gitcoin is restructuring so technology teams will have a clearer direction to build towards

article-image

Gitcoin co-founder Kevin Owocki at Permissionless II

share

Gitcoin, an open-source software funding platform, has announced it will shift focus away from public goods funding and towards enhancing grants infrastructure designed for the Ethereum ecosystem.

Since its launch in May 2021, Gitcoin’s organizational hierarchy has been relatively flat, with no CEO calling the shots. Workstreams, or focused groups dedicated to specific tasks or projects within the organization, have always required budgets to be approved through community voting — an often time consuming process.

As the DAO has evolved, however, it morphed from an impact-focused organization to something more technology-centric. Gitcoin executive director Kyle Weiss told Blockworks in an interview that this did not align well with the existing DAO structure.

“It was too disjointed,” said Weiss. “In a DAO environment where everyone is fully remote, we have folks contributing from nearly every continent — stability, operations, and software development is really important, you need a core group of individuals who have context.”

Read more: Gitcoin’s co-founder wants to return from the sidelines

As part of the new restructuring plan, two business units have formed within Gitcoin. One unit will focus on coordinating product-specific work, while a subDAO will manage matters of community and governance.

Weiss noted that over the years, the company has experimented with various products. He said that some of these have been distractions, while others have been valuable to its growth.

“A lot of 2024 is focusing on grants. We want Gitcoin to be much more associated with grants, whereas right now, our narrative has been around public goods funding, and that shift is because we’ve moved from being an impact organization to a technology organization,” Weiss said. 

For this reason, Weiss explained the DAO will transition from independent workstreams towards a structure more akin to a “Labs” structure. This is something that is common among existing protocol development teams, similar to how Uniswap has Uniswap Labs or how Optimism operates with OP Labs.

“We want to make sure there is stability in the software development side and then give the DAO material scopes of work to own,” he said.

Weiss says that by granting software development teams greater leadership and more defined decision-making powers, the community can remain concentrated on achieving results through the grants programs via token voting.

“I don’t know if the token holders are the right people to decide on multi-year roadmap decisions on the technology side,” Weiss said. 

Gitcoin co-founder Kevin Owocki shared this sentiment.

“It’s not proven that DAOs can develop software, so the Labs team is designed to recognize that in our organizational structure, and make sure that we’re building world-class software.”


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Screenshot 2024-05-23 091855.png

Research

Bitcoin L2s aim to boost scalability while preserving decentralization and security, unlocking a better user experience, and new avenues for Bitcoin-powered innovations. However, no existing Bitcoin L2 leverages the full security of Bitcoin.

article-image

Sponsored

As part of the #Breakout2024 plans, Radix has introduced Token Trek

article-image

House members ask Gensler to keep a “consistent and equitable approach” with ether ETF proposals after the agency approved spot bitcoin ETFs in January

article-image

Using old-world instruments to address crypto user experience challenges goes against what this industry set out to do

article-image

And, weeks of a potential crypto ETF decision are no stranger to chaos

article-image

The FIT21 Act marks the second crypto-focused piece of legislation to advance in Congress this month

article-image

More than half of Solana transactions fail