The fundraising platform Gitcoin has announced a shift in focus from funding public goods to providing grants for the Ethereum ecosystem. This was revealed by the company’s CEO, Kyle Weiss, in an interview with Blockworks.
Gitcoin has now established two business divisions. One will coordinate the team’s work on specific products, while the other will handle community and governance issues. According to Weiss, this will streamline processes and better align the company with a DAO structure.
“We want to ensure stability in software development and then delegate substantial tasks to the DAO,” he said.
The executive noted the necessity of freeing the community from voting on technical issues, entrusting these to developers. Gitcoin co-founder Kevin Owocki agrees:
“It is not proven that DAOs can develop software, and this needs to be considered in our organizational structure to create world-class software.”
Meanwhile, the community will be able to focus on voting for funding programs.
“We want Gitcoin to be more associated with grants. This shift is due to our evolution into a tech organization,” Weiss added.
Read more about DAOs, their advantages and disadvantages, in a special ForkLog feature.