# 📺 SotN #47: Gitcoin DAO & $GTC Token with Kevin Owocki

*Author: David Hoffman*
*Published: May 26, 2021*
*Source: https://www.bankless.com/es/-sotn-47-gitcoin-dao-and-gtc-token*

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*Last week to claim your Bankless Badge! [Bankless DAO has a present for you next week](https://snapshot.org/#/banklessvault.eth/proposal/QmYvsZ7AU2XyhpBL8g4QRQbLRX6uU3t5CHNdFQbs5r7ypJ).*

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Gitcoin is turning itself into Gitcoin DAO, governed by the community and GTC holders.  Come learn all about Gitcoin DAO, GTC distribution, and the responsibilities of the governors!

**Kevin Owocki** is former *Philosopher King* of Gitcoin, and now he’s a member of the DAO.

***[State of the Nation](https://youtube.com/playlist?list=PLmkdAgtxf3ahHup7h1dxjs0SNwCSGdjVb) **is live-streamed on [the Youtube Channel](https://www.youtube.com/c/Bankless/) – Tuesdays at 11am PT.*

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### 📺 **[Episode 46](https://youtu.be/sAJ1sZ2_S4M) of State of the Nation**
🎙️[Listen to Podcast Episode](http://podcast.banklesshq.com/) | 📺 [Watch the Episode](https://youtu.be/sAJ1sZ2_S4M)

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### State of the Nation #47: Gitcoin DAO & $GTC Token
**Guest: Kevin Owocki**

*May 25th, 2021*

In this week's State of the Nation, we bring on Kevin Owocki to discuss the decentralization and DAO-ization of public goods funding platform Gitcoin, and the launch of their $GTC token. Kevin is the former benevolent dictator (CEO) of Gitcoin and a General in the war against Moloch (human coordination failure).

The purpose of Gitcoin is to provide a platform for open-source software developers to acquire funding for their projects. Kevin mentions that open-source creates $500B in economic value yearly. In the crypto space, and on the internet at large, open-source development means that something is free to use, fork, or build on. This accessibility has been a driving force behind web development, and Gitcoin's mission is to create a business model for open-source software developers. Gitcoin has raised around $20M since its initial launch in November 2017.

Gitcoin DAO is seeking to meme itself into the Quadratic Lands, where public goods are well-funded and digital democracy reigns. As Gitcoin has grown, it has come to the point in which a DAO is more well-served for Gitcoin's goals of activism and open-source development. Anti-fragility and distributing points-of-failure are key benefits of transitioning into a DAO. The alignment of incentives between the individual and society is crucial for optimizing capital efficiency and organically generating a better society.

> *GTC = Grow The Community*

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#### Resources:
- [Coordination Failures](https://bankless.ghost.io/know-thy-enemy-coordination-failures/)
- [Claim GTC](https://bankless.ghost.io/-alpha-alert-claim-gitcoin-token/)
- [Gitcoin](https://gitcoin.co/)
- [Quadratic Lands](https://gitcoin.co/quadraticlands/)
- [Kevin on Twitter](https://twitter.com/owocki?s=20)

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***Not financial or tax advice. **This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.*

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***Disclosure. **From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our [investment disclosures here](https://bankless.ghost.io/bankless-disclosures/).*