The Web3 Foundation, the entity behind Polkadot, has announced a Decentralized Futures (DF) grant to PolkaPort East to help drive the network’s expansion in Asia.
The grant will help further decentralization, bolster community engagement within the Polkadot ecosystem, and drive Polkadot’s adoption across Hong Kong and the Greater Bay Area.
Polkadot Strengthens Asia Presence With PolkaPort East Grant
The grant to PolkaPort East is the first DF grant given to an Asia-based entity and aims to enhance Polkadot’s decentralization through technical, community, and ecosystem growth. The grant is part of an initial $20 million and 5 million DOT tokens that have been allocated to Decentralized Futures, allowing Polkadot to fund for-profit and non-profit organizations that support its ecosystem.
PolkaPort East is an independent entity that focuses on investor and growth relations for Polkadot, primarily in Hong Kong and the Greater Bay Area. While the total grant to PolkaPort East is not known, it will help the entity boost investor relations and growth for the Polkadot ecosystem in the region. It will promote the ecosystem and drive capital influx into it. PolkaPort East co-founder Max Rebol highlighted the significance of the initiative and described it as a significant step in enhancing the network’s presence in Hong Kong.
“The launch of PolkaPort East comes at a crucial moment for Polkadot. It represents a critical step towards increasing the network’s decentralization while also strengthening the ecosystem’s strategic position in Hong Kong.”
Leveraging Asia’s Innovation Landscape
Thibault Perréard, another co-founder, stated that the Web3 Foundation grant would allow PolkaPort East to leverage Asia’s thriving innovation landscape.
“PolkaPort East will be tapping into the thriving innovation hubs of Hong Kong and the Greater Bay Area while engaging and fostering relationships with local governments, global enterprises, and capital allocators of the region.”
Speaking about the project, the Ecosystem Director at the Web3 Foundation stated that it highlights the Web3 Foundation’s commitment to fostering decentralized access and innovation within the Polkadot ecosystem.
“The Web3 Foundation is thrilled to support the Polkaport East initiative through a Decentralized Futures grant. This project exemplifies our commitment to fostering decentralized access and innovation within the Polkadot ecosystem. We believe Polkaport East will play a pivotal role in enhancing connectivity and empowering the community in Hong Kong, driving forward the vision of a truly decentralized internet.”
The initiative aims to attract participants across Asia, such as developers, venture capitalists, and Web3 investors. It also aims to engage with blockchain collectives, fintech companies, and local governments that want to explore blockchain technology.
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