๐๐ฐ $1 BILLION GRANT PROGRAM TO FOSTER BLOCKCHAIN DEVELOPMENT via POLYGON๐ฐ๐
Polygon has announced an ambitious $1 billion Community Grants Program, aimed at supporting developers on its platform over the next decade. This initiative will allocate approximately $100 million annually to fund innovative projects that enhance the Polygon and Ethereum ecosystems.
The Community Treasury Board will oversee the distribution of these funds, beginning with 35 million MATIC for the inaugural season. This strategic allocation is part of Polygonโs plan to cultivate a strong, community-governed network of blockchain technologies. The goal is to empower pioneering projects that push the boundaries of decentralized technology.
๐ก Focus on Innovation:
Eligibility for the grant requires projects to be built on the Polygon platform or those willing to migrate. Early beneficiaries include platforms like Quickswap and Intraverse, showcasing the potential for growth and innovation through this financial support. The application process for the first season of grants is open until August 31, 2024.
๐ Supporting Diverse Projects:
The grants will fund a wide range of blockchain applications, from infrastructure to decentralized apps (dapps) like decentralized exchange (dex) platforms. The program supports projects at various development stages, with the Community Treasury allocating funds monthly after thorough reviews.
๐ข Project Selection and Fund Management:
The scrutiny of project selection and fund management will be critical in determining the programโs success. By carefully vetting and supporting promising projects, Polygon hopes to drive significant advancements in decentralized technology.
๐ Do you think this will secure Polygon remaining a TOP player in the space?
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