December 15, 2022

How To: Gitcoin Grants

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Balance is poised to build bridges between the theoretical and practical sides of finance so that there is a means in which we can provide real-world solutions and create value driven products within the web3 space.

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Gitcoin is a platform for people and businesses organizations to contribute money to open source projects they support - think of it like a web3 version of Kickstarter. Supporters can contribute one-time or ongoing contributions to open source projects through Gitcoin Grants, with the aim of preserving and expanding the open source ecosystem.

Gitcoin is a model of how organizations and individuals can use blockchain technology to support open source projects. Supporters can donate money directly to the projects they care about by using a decentralized platform. This makes it possible to assist open source projects in a way that is more transparent and effective.

How to be a Grantee?

Gitcoin has an easily accessible platform that is in

Gitcoin Grants Hub , wherein interested applicants can submit a form and create a project. The application includes a few questions and ends with a signature through a web3 wallet. Projects are all stored on-chain, which entails that each creation or edit requires a transaction on the blockchain.

Current and potential Grantees are all welcomed to the Grants Hub - one of Gitcoin’s core products with tools dedicated for project building and networking.

The full step-by-step procedure starts right here.

How to be a Funder?

Gitcoin works both ways - for grantees and for funders. If you have some extra cash lying around and want to put it to good use, consider exploring available Gitcoin Grants in the Grants Explorer Page.

As a potential donor scrolling through tons of projects, you can easily keep track of the ones that catch your eye by adding them to the Shortlist.

Once you made up your mind, you can submit your donation as long as the site is connected to your wallet. Just accept the required blockchain transactions and a confirmation screen shall follow.

Overall, Gitcoin Grants are a helpful tool for open source projects since they give fans a method to financially assist the creation and upkeep of these projects. This can help ensure that open source projects have the resources they need to continue improving and evolving - building an ecosystem to build and fund the open web together.