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Home»ADOPTION NEWS»Gitcoin switches to Ethereum subsidy.
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Gitcoin switches to Ethereum subsidy.

By Crypto FlexsFebruary 7, 20242 Mins Read
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Gitcoin switches to Ethereum subsidy.
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Gitcoin, an open source funding platform, announced a strategic shift from funding public goods to focusing on grant infrastructure for the Ethereum ecosystem. The goal of this reorganization is to strengthen technology development within Ethereum and move from a flat organizational structure to a more defined “Labs” model to increase efficiency and direction.

Gitcoin, a platform known for funding open source software, is undergoing a significant strategic restructuring to focus on providing subsidies specifically for the Ethereum ecosystem. This turning point marks a shift away from the original emphasis on financing public goods and towards a more technology-oriented approach to more directly support the Ethereum community. Since its founding in May 2021, Gitcoin has been characterized by a relatively flat organizational structure and is currently evolving to accommodate new strategic directions.

The restructuring involves the formation of two separate business units within Gitcoin. One of these units will focus on coordinating product-specific operations to ensure that technology development within the Ethereum space is targeted and efficient. Alongside this, a Sub-Decentralized Autonomous Organization (SubDAO) will be established to manage community and governance issues, with the goal of providing a more systematic decision-making framework while maintaining the essence of Gitcoin’s democratic approach.

A key aspect of this transition is Gitcoin’s adoption of a “Labs” structure, reminiscent of the model used by major protocol teams such as Uniswap Labs and OP Labs. This move is designed to ensure the stability of software development and provide the DAO with a clearly defined scope of work, giving greater leadership and decision-making authority to the software development team. This structural evolution reflects Gitcoin’s intention to focus more on subsidies, with the goal of linking the platform more strongly to the subsidy infrastructure of the Ethereum ecosystem than its previous public goods funding narrative.

Gitcoin’s strategic shift highlights its commitment to improving the infrastructure of the Ethereum ecosystem through subsidies. By transitioning to a more technology-centric organization and improving its focus on grants, Gitcoin aims to strengthen its contributions to the open source community and the broader blockchain space. This turning point reflects our evolution from an impact-driven company to a platform that prioritizes technological development and efficiency within the rapidly growing Ethereum ecosystem.​​​​​​

Image source: Shutterstock

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