Gitcoin shuts down software development department Grants Lab due to lack of sustainable profit model

Gitcoin co-founder Kevin Owocki announced in a post on X platform that Gitcoin will close its main software development department, Grants Lab, and lay off some team members. Behind this decision is a change in the ecological environment: the funding methods for public goods are evolving, the L2 ecosystem is gradually maturing, collaboration mechanisms are constantly innovating, and new competitors are constantly emerging. At the same time, key members of Grants Lab have resigned one after another, and the team lacks a clear and sustainable profit model in its current form, resulting in financial expenditures exceeding the acceptable 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 provide severance compensation to affected employees. Gitcoin stated that they will make every effort to support the transition of departing employees in a respectful and caring manner.