Polygon Launches $1 Billion Initiative to Support Blockchain Innovation
Polygon’s $1 billion Community Grants Program, slated for the next ten years. Aims to bolster developer support on its platform with an annual allocation of approximately $100 million.
Managed by the Community Treasury Board, the initiative kicks off with an initial 35 million MATIC earmarked for the inaugural season. Part of Polygon’s strategy to cultivate a robust, community-driven network of blockchain technologies. The eligibility for grants centers on projects either built on Polygon or open to migration. With early beneficiaries like Quickswap and Intraverse showcasing the program’s potential for growth and innovation. The application window for the first season closes on August 31, 2024. Encompassing a wide array of blockchain applications from infrastructure to decentralized apps (dapps) like decentralized exchange (dex) platforms. The grants program, designed to support projects at different developmental stages, will see monthly fund allocations after thorough reviews by the Community Treasury.
As Polygon begins the allocation process, ensuring these investments translate into tangible advancements will be crucial. The scrutiny of project selection and fund management will play a pivotal role in determining the program’s success or potential shortcomings, as it seeks to foster innovation within the Polygon and Ethereum ecosystems.
Clever Robot News Desk 13th June 2024
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