Gitcoin, a true community of builders, has remained the pillar of DAO Public Goods funding and continues to grow their ecosystem and governance participation. With the current market conditions, it has become more important than ever for DAOs to find partners to grow with and constantly explore synergies. This ethos is what led to Gitcoin’s latest treasury diversification and governance participation efforts.

Gitcoin expanded their governance participation by aligning with their long-term partners. Protocol Labs, Fenbushi Capital, OKX Ventures, IOSG Ventures, and Foresight Ventures all joined in for this powerful collaboration with Gitcoin.

Using Hedgey’s Locked Token protocol, Gitcoin was able diversify their treasury while allowing their long-term partners to increase their holdings of GTC and add governance voting power with locked, vesting tokens.

How Hedgey was used

Using the Hedgey protocol, Gitcoin was able to create a dedicated treasury diversification page and invite select partners to participate in the GTC swap. These partners were then able to connect their wallet, execute the swap, and receive GTC allocations at the pre-determined vesting schedule. All of this was executed via permissionless, non-custodial smart contracts.

A unique aspect of the Hedgey vesting contracts is the use of locked token NFTs, minted to the partners and representing rights to the locked tokens held in Hedgeys vesting contract. These NFTs represent the exact amount of tokens acquired by each partner and allow partners to vote with said tokens on Gitcoin governance proposals.

This was a major benefit of using Hedgey, as a strong driver for adding partners is increasing participation of those partners in Gitcoin governance. Hedgey allows this to happen.

Resources

For more information, dive into Gitcoin’s blog as they explore what this means for the DAO.

We’re continuing to explore how DAOs will implement similar strategies and what product will make the process easier for buyers and sellers. If you’re interested in joining our closed Beta for this or other products, reach out using the inquiry form linked below.