# Gitcoin **Gitcoin** emerges as a pivotal platform within the ReFi and Web3 ecosystems, focusing on leveraging blockchain technology to address and fund solutions to urgent and large-scale issues such as climate change and open-source project development. Since its inception in September 2017, Gitcoin has channeled over $64 million into open-source initiatives through its Gitcoin Grants program. Gitcoin used of **quadratic funding** to democratizes crowdfunding by allowing the value of individual contributions to be amplified by a matching pool, ensuring that even modest donations can have a significant impact. This method not only levels the playing field for projects seeking funding but also addresses potential vulnerabilities, such as Sybil attacks, through Web3-based identity verification and innovative solutions like the Gitcoin Passport. Gitcoin's grants rounds have been supporting resilience and innovation within the Web3 space, notably with the substantial growth of ImpactDAOs and the promotion of pluralistic tools to empower communities in funding their shared needs. It supports a wide range of initiatives, from infrastructure development to environmental projects. ## References [https://blog.refidao.com/refi-deep-dive-gitcoin/](https://blog.refidao.com/refi-deep-dive-gitcoin/) [https://www.gitcoin.co/blog/gitcoin-wrapped-our-progress-towards-pluralism-and-a-positive-sum-world-in-2022](https://www.gitcoin.co/blog/gitcoin-wrapped-our-progress-towards-pluralism-and-a-positive-sum-world-in-2022) [https://www.gitcoin.co/](https://www.gitcoin.co/)