Blockchain-based platform for developers, Gitcoin announced it has collaborated with the Sei Foundation, the non-profit organization behind the Sei blockchain, to launch the Sei Creator Fund, valued at $10 million. This initiative is designed to foster the growth of the Sei ecosystem through the Gitcoin Grants Stack.
Sei Network is an open-source Layer 1 blockchain designed to optimize digital asset trading. Built using the Cosmos SDK framework, it is compatible with the Inter-Blockchain Communication Protocol (IBC), enabling interoperability. Sei Network maintains a theoretical capacity to execute 12,500 transactions per second and a block finality time of 380 milliseconds, which makes it one of the fastest blockchains available.
The initial ‘Kick Off Round’ is set to begin on June 4th. It will feature a $250,000 matching pool aimed at supporting projects across diverse areas, encompassing decentralized content platforms, non-fungible token (NFT) marketplaces and tools, social platforms, decentralized crowdfunding, Web3 creative tools and infrastructure, as well as creator decentralized autonomous organizations (DAOs) and collectives, among other themes.
Participants may include experienced veterans engaging with the Sei ecosystem or newcomers bringing innovative ideas. To qualify, participating teams must contribute to the development of the Sei ecosystem in the outlined areas and need to actively engage with the community through outreach, social media presence, and initiatives to bolster adoption and participation in Sei. Projects must also present a feasible roadmap and budget plan, and align with Sei Network‘s core values.
To apply, individuals should create a new profile on builder.gitcoin.co and submit their application through the Gitcoin Grants Stack.
Gitcoin Empowers Open-Source Developers With Its Funding Platform
Gitcoin is a financial technology company that has developed a blockchain-based platform enabling open-source builders to earn revenue from the work if it is utilized.
Gitcoin’s Grants Stack offers a simplified management process for grant program managers, covering program deployment, applications and fund allocation and more, making it easy to oversee and expand the programs. It also encourages supporters to discover and back new projects, while enabling project owners to seek funding, apply to grant programs, and develop their Web3 reputation.
The post Gitcoin Partners With Sei Foundation To Launch $10M Sei Creator Fund, First Round With $250k Matching Pool Starts On June 4 appeared first on Metaverse Post.