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Why Gitcoin didn’t do a Utility Token ICO


It is still early days in the blockchain ecosystem.

We believe that tokens / tokenization are just an early use case of the 'open source financial system'. Being first doesnt mean it's the best.

no token

Gitcoin didn't want to make a utility token.

Gitcoin didn't want to launch with a token before finding product-market fit. We don't think it's the morally right move to raise a bunch of money before having a product; and we don't think it's the right monetization strategy long term.


There are other options to explore.

There are a number of other options to explore in terms of sustaining Gitcoin, creating a win-win business model, and aligning incentives between dapps and users in web3.

Still have questions about why Gitcoin didn’t launch with a token?

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Some other options we are exploring.

Are you a dapp BUIDLer who wants to consider alternatives before doing an ICO? Here is a shortlist of monetization strategies we are excited about at Gitcoin. Maybe one of them will be a fit for you!


 Trading cards on the blockchain. Known as “Non fungible tokens” (NFTs) in the space.

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Subscription services on the blockchain. Known as SAAS to us startup geeks.

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Standard for Bounties on the blockchain.

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We are considering a few business models. Want to learn more?

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