Founder of Gitcoin returns to the project again

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Founder of Gitcoin returns to the project again

A founder completing a project with a decentralized community is a noble goal, but can be challenging to accomplish.

Kevin Owocki, the founder of Gitcoin, plans to play an active role in the project once again in the latest example of the challenges faced by decentralized organizations.

In 2019 Gitcoin's flagship Grants initiative, which funds public goods through donations from the community, was quickly adopted by crypto enthusiasts as a way to support their favorite projects.

Most recent initiatives have taken heat from the crypto community, and in May, the project announced a funding round that included a diversity mandate. Many in the crypto community disagreed with making teams' identities a criteria for eligibility.

The transaction, in another controversial move, was completed by oil and gas conglomerate Shell to fund its climate-oriented transactions with $500,000 over 12 months.

It's not the first time a founder has returned to a major crypto project in times of crisis - Kain Warwick joined Synthetix in 2021.

David Mihal has received grants for useful tools such as CryptoFees.info, but said he had been rejected from recent funding rounds without any apparent cause.

In a follow-up interview with The Defiant, Mihal said that he appreciated Gitcoin but also declined the project's user experience.

In 2021, the project airdropped $100 million of the GTC token, resulting in a drop in GTC and a drop of more than 95% from its all-time high of $22.37.

In the last three rounds of Gitcoin, Owocki betonted that the technology stack has been more decentralized. a decentralized political economy, he said. For almost every project that has tried it, the process of decentralization has been tough, as new forms of accountability outside of a traditional employer-employee relationship must be created, which leaves opportunities for responsibilities to fall through the cracks.

It is easy to see that the mechanism does not discriminate against or discriminate against any specific person, buterin said in a 2020 article where he introduced the concept.

Owocki is still working out what returning to Gitcoin entails. He said that he has spoken with Synthetix's Warwick and the controversial founder of MakerDAO, Rune Christensen, about what it's like returning to a project after it's already begun to decentralize.

Christensen has made waves with his Endgame plan for Maker, which involves significant changes to the protocol, the most recent controversy was the founder's suggestion that Maker should fork the Solana blockchain.

In a statement on Friday, Owocki said he didn't plan to shake up Gitcoin to the same degree. I'll be working on creating an endgame for Gitcoin that's more of a bottom-up synthesis of what the network thinks that we should be doing, he said.