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

Mars Finance News, on April 25, Kevin Owocki, co-founder of Gitcoin, posted on social media that Gitcoin will close its primary software development department, Grants Lab, and bid farewell to some excellent team members. This is one of the most difficult decisions since Gitcoin's establishment. Behind this decision is the changing ecosystem: public product funding methods are evolving, the L2 ecosystem is gradually maturing, collaborative mechanisms are continuously innovating, and new competitors are constantly emerging. Meanwhile, key members of Grants Lab have successively resigned, and the team currently lacks a clear, sustainable profit model, causing financial expenditures to exceed bearable limits. Therefore, Grants Lab will no longer apply for budget for the second half of 2025, and the remaining funds will be used to provide severance compensation for affected employees. Gitcoin stated that they will make their best efforts to support the transition of departing employees with respect and care.