Gitcoin claims its Staked ETH Index (gtcETH) lets holders earn rewards from liquid staking tokens while simultaneously steering fees toward grants for “digital public goods” like open-source software and blockchain code. reports
One of the motivations behind gtcETH stems from the unpredictability related to raising funds for digital public goods – think digital infrastructure, like open-source code, a blockchain or an open data set that could be consumed by everybody. Without a clear profit motive, the funding is sometimes hard to come by., GtcETH could provide Gitcoin a consistent revenue stream to help fund grants.
Here's how that's supposed to work: Token holders of gtcETH incur an annualized streaming fee of 2%, where 1.75% is allocated to the Gitcoin decentralized autonomous organization and the remaining amount to Index Coop. If gtcETH had a total value locked of $1 million, gtcETH would contribute roughly $17,500 a year to Gitcoin Grants, placing the index in the top ten in Gitcoin’s Funders Leaderboard, according to
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