Coinspeaker COTI Partners with Gitcoin to Launch $500K Grants Program for Web3 Privacy Projects
Much to the delight of the Web3 ecosystem, decentralized privacy layer COTI has partnered with Gitcoin to launch a $500,000 grants program. According to a company press release, this program will focus mainly on privacy-focused projects, especially those with a genuine drive to create advanced privacy solutions that can further help to grow the Web3 space.
Notably, COTI boasts a groundbreaking privacy technology that it says is based on Garbled Circuits. According to benchmark studies, this technology is over 1000 times faster than existing alternatives, thus opening the door for developers to deploy fast and affordable privacy features for the first time.
Gitcoin, on the other hand, also comes into the partnership with grant management tools and services that are second to none.
So, by collaborating with Gitcoin, COTI will be seeking to lure top-tier developers and projects to its fast-growing privacy ecosystem. COTI will achieve this by using the $500K grant program to create significant exposure for its privacy layer. This will, in turn, present developers with the opportunity to experiment with the Garbled Circuits technology and unlock new use cases for privacy across various sectors within Web3.
Full Details of COTI-Gitcoin Partnership and Grant Initiative
As earlier noted, the $500,000 grants program will use Gitcoin’s grants management tools, which have an impressive record of success.
Since launching in 2017, Gitcoin has managed various grant programs, distributing over $60 million to developers across thousands of Web3 projects. So, leveraging the Gitcoin platform, COTI expects to attract a new generation of talent, accelerating privacy-focused innovation within its ecosystem.
Sharing his high hopes and aspirations for the new collaboration, company CEO Shahaf Bar-Geffen has also expressed his delight about COTI’s recent decision, particularly in its partnership choice. He said in part:
“This partnership aligns with COTI’s broader mission to set new standards for privacy in Web3, a space that increasingly demands secure and private solutions.”
It might also be worth mentioning that COTI’s recent announcement is only a follow-up on its past efforts toward privacy. It had earlier launched what was arguably the largest grants pool for privacy-focused projects in Web3 history.
Therefore, the new partnership is merely a continuation of this strive to foster privacy innovation in decentralized systems.
COTI insists that only those projects that align with its mission will receive funds from the grants program. However, the firm says it will also find ways to use part of the fund to expand privacy use cases in sectors such as decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (dApps).
As of publication, COTI has not communicated how developers and privacy-based projects may participate in the program. However, it says interested applicants will soon receive detailed instructions on how to do so.next
COTI Partners with Gitcoin to Launch $500K Grants Program for Web3 Privacy Projects
