Polygon has introduced a $720 million Community Treasury to back blockchain ventures for the next decade. The initiative aims to aid developers in the Polygon and Ethereum ecosystems. The fund will initially allocate 35 million Polygon (MATIC) tokens, valued at around $25 million, for the Community Grants Program's first season. The Community Treasury, established through community agreement, will yearly distribute about 100 million Polygon ecosystem tokens (POL), totaling one billion POL tokens over ten years. The first season offers two tracks: the General Grant Track and the Consumer Crypto Track. The General Grant Track has no strict project limitations but focuses on decentralized applications, developer tools, and protocol infrastructure. The Consumer Crypto Track, as explained by Polygon Community Treasury board member Ajit Tripathi, is also open for submissions until August 31. This initiative will assist early-stage projects and developers in obtaining funding, following Polygon's recent progress in zero-knowledge technology. Read more AI-generated news on: https://app.chaingpt.org/news