According to Foresight News, Gitcoin announced that it will close its Grants Stack technology and its primary software development department, Gitcoin Labs, by the end of May 2025 due to insufficient profitability. As part of the adjustment, Gitcoin will discontinue the Grants Stack tools and Allo Protocol funding mechanism, but will continue to maintain the Human Passport system and focus on its core Gitcoin Grants funding program. Gitcoin stated that the existing technology will transition smoothly, and funding is expected to be sustainable until 2029.
Gitcoin to shut down software development arm Gitcoin Labs to focus on grants
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