GTC has no economic value, according to the token’s introductory [blog post](https://gitcoin.co/blog/introducing-gtc-gitcoins-governance-token/). Gitcoin is a fork of the COMP/UNI governance system, with a built-in delegation prompt in the retroactive claim process.

The total supply of GTC is 100,000,000 tokens. 15% is set aside for a retroactive airdrop, 50% is in the Gitcoin DAO and 35% is for existing stakeholders. The retroactive airdrop is for past users of Gitcoin, the DAO allocation is for governance purposes and the existing stakeholders include anyone who has contributed to building Gitcoin in the past or the future (with a vesting schedule of at least two years for Gitcoin team members). For more information about GTC’s distribution, see [here](https://gitcoin.co/blog/introducing-gtc-gitcoins-governance-token/).

Gitcoin inspires a world shaped by community-led positive change and has helped create more than $29 billion in global financial impact.. Gitcoin cultivates and nutures the “Quadratic Lands” — a ecosystem with digital democracy and a strong emphasis on community building.

Gitcoin was founded by Keving Owocki and Scott moore. Since then, Gitcoin underwent shift from a monolithic platform to a suite of modular protocols and embraces a spectrum of mechanisms like Quadratic Voting, Direct Grants and Retroactive Public Goods Funding.

Gitcoin creates technologies and opportunities that empower communities to fund, build, and protect what matters. Through the Gitcoin Grants Program, there has been over $54 million distributed to early-stage builders that champion public goods initiatives in decentralized finance (DeFi), climate, open sourcing, and beyond. Core products include Gitcoin Grants Stack, the end-to-end grants management solution, Allo Protocol, an open-source funding protocol, and Gitcoin Passport, an all-encompassing decentralized identity management tool. GTC is Gitcoin’s governance token, launched in late May 2021. The token is needed for the creation and funding of the DAO that will govern Gitcoin.