Gitcoin announces closure of Grants Lab, its main software development division, due to lack of sustainable profit model

CoinRank News: Gitcoin co-founder Kevin Owocki posted on the X platform that Gitcoin will close its main software development department Grants Lab and say goodbye to some outstanding team members. This is one of the most difficult decisions since the establishment of Gitcoin. Behind this decision is the change of the ecological environment: the way of funding public products is evolving, the L2 ecosystem is gradually maturing, the collaboration mechanism is constantly innovating, and new competitors are constantly emerging. At the same time, key members of Grants Lab have left one after another, and the team lacks a clear and sustainable profit model in its current form, resulting in its financial expenditure exceeding its affordable range. Therefore, Grants Lab will no longer apply for the budget for the second half of 2025, and the remaining funds will be used to pay severance pay to affected employees. Gitcoin said that they will do their best to support the transition of departing employees in a respectful and caring manner.