Gitcoin aims to incentivize and support open-source software development and the creation of public goods in the digital space. It was launched in November 2017 with the belief that open-source software is fundamental to software development and modern computing.

The Gitcoin project seeks to foster collaboration on open-source projects by incentivizing developers through bounties. Users can fund specific technological development issues and crowdsource support from available developers on the Gitcoin platform.

One of the critical mechanisms utilized by Gitcoin is quadratic funding. It is a crowdfunding structure where individual donations get matched with funding from larger pools of funds supplied by more prominent donors. This approach ensures a more democratic and fair distribution of funds for public goods projects.

The native governance token of the Gitcoin platform is GTC, an ERC-20 token built on the Ethereum blockchain. GTC is intended for community platform governance, allowing token holders to participate in decision-making.

The Gitcoin platform facilitates the development of open-source software through various mechanisms. It offers a Kernel Fellowship program - an eight-week, invite-only program that brings together Web3 developers and projects, allowing them to establish relationships and collaborate on building products.

In addition to the fellowship program, Gitcoin enables coders and developers to get paid for working on open-source software projects in a wide range of programming languages. Users can submit their project ideas to the Gitcoin platform, allowing them to crowdsource funding from contributing donors.

Gitcoin utilizes a bounty system where individuals or organizations can create bounties for specific development tasks or challenges. Developers can then take on these bounties and work on them to earn rewards. It incentivizes developers to contribute their skills and expertise to the open-source community while receiving financial compensation.

The platform also incorporates the concept of quadratic funding. Quadratic funding is a crowdfunding mechanism where individual donations are matched with funds from larger donors, creating a more democratic and inclusive approach to funding open-source projects.

Kevin Owocki initially launched Gitcoin in November 2017. Since its inception, Gitcoin has been community-driven, with community members actively participating in its development and growth.

In May 2021, Gitcoin introduced the Gitcoin DAO. The DAO (decentralized autonomous organization) serves as the vessel for Gitcoin's mission, with community members coordinating efforts to fund public goods and make decisions regarding resource allocation.

Since then, the platform has distributed millions of dollars via the Gitcoin Grants Rounds. It also launched the alpha version of its open, decentralized grants protocols for communities to crowdfund their initiatives. Some of this program's early users include Fantom, Optimism, and UNICEF.

In November 2022, Gitcoin introduced the GTC token for decentralized governance of its platform. The Gitcoin Token (GTC), a fork of the COMP/UNI governance systems, would allow Gitcoin DAO members to submit and vote on proposals to shape the project's future evolution.

Investing in Gitcoin can be a good investment due to its contribution to the growth of Web3 technology and its unique funding mechanism known as quadratic funding. Additionally, Gitcoin has a vibrant community of open-source builders and developers, which contributes to its potential as an investment.

While accurate price predictions are not possible, several factors can influence the value of Gitcoin. These include Gitcoin's growing list of partnerships, the robust and active community in Gitcoin DAO, the funding and grant pool maintained by Gitcoin, and the overall market sentiment in the crypto market.

GTC is the native token of the Gitcoin platform and is used for governance purposes within Gitcoin DAO. It allows token holders to participate in decision-making processes related to resource allocation and fund distribution. GTC also incentivizes developers to work on open-source projects and can be traded against other crypto assets.

The amount you can get paid on Gitcoin depends on the project, scope of work, and available funding. Gitcoin offers various payout options and allows developers to participate in hackathons, bounties, and funded community grants. The specific payout amount and process may vary between projects and contributors.

To stake GTC on Gitcoin Passport, follow these steps:

1. Fund your wallet by buying GTC on supported platforms and transferring the tokens to it.
2. Visit the Gitcoin Passport website or platform and log in to your account.
3. Connect your wallet to the Gitcoin Passport interface.
4. Navigate to the GTC Staking section within Gitcoin Passport.
5. Choose between staking GTC on your own identity or someone else's identity.
6. Follow the staking process and lock your staked GTC until the Grants Rounds conclude.
7. After the Grants Rounds, you can reclaim your staked GTC.
8. Withdrawal of staked GTC tokens is only possible after a specific Grants round concludes.