Polygon has recently announced the launch of Season 01 of its Community Grants Program, designed to support projects within the Polygon and Ethereum ecosystems. The project will allocate 35 million MATIC to developers starting on Jun. 11, with future grants being distributed in POL, the network’s upgraded token. Projects eligible for grants must be building on Polygon or willing to migrate to the network, demonstrating a long-term commitment to the ecosystem. The application process has an average turnaround time of four weeks, with projects able to receive between 5,000 to over 50,000 MATIC in funding.
The first season of the grant program will see up to 35 million MATIC injected into the network, with grant payouts scheduled for the first of each month following approval. Applications will be divided into two categories: the General Grant Track, suitable for a wide range of projects with no serious limitations, and the Consumer Crypto Track, focusing on projects promoting consumer adoption of cryptocurrency. This streamlined categorization aims to provide appropriate support to all applicants, with oversight by the independent Community Treasury Board, responsible for allocating funds from the Community Treasury. The board will conduct monthly reviews of selected projects and oversee the distribution of approximately 100 million POL annually over a ten-year period.
Notable projects that have previously received funding from Polygon include QuickSwap, a decentralized exchange on Polygon that was granted $1 million in 2021. The Community Grants Program follows Polygon’s recent acquisition of blockchain startup Toposware, enhancing its Zero-knowledge development efforts. With the goal of supporting developers and projects within its ecosystem, Polygon’s grant program aims to encourage growth, innovation, and adoption within the Polygon and Ethereum communities. Developers and projects interested in building or migrating to Polygon are encouraged to apply for funding through the Community Grants Program to receive support and resources for their initiatives.
The grant program aims to support a diverse range of projects, including those focusing on developer tooling, protocol infrastructure, decentralized applications (dApps), gaming, gamified commerce, decentralized social platforms, AI/blockchain integrations, and NFT innovations. By providing funding, resources, and guidance to projects working within the Polygon and Ethereum ecosystems, the grant program seeks to drive innovation, adoption, and growth within the communities. With a focus on long-term commitment and support, the grant program offers an opportunity for developers and projects to receive financial backing and assistance from the Community Treasury Board, ensuring that each project selected for funding is able to contribute to the growth and success of the Polygon ecosystem.
In conclusion, Polygon’s Community Grants Program represents a significant opportunity for developers and projects within the Polygon and Ethereum ecosystems to receive funding, resources, and support for their initiatives. With a focus on long-term commitment, growth, and innovation, the grant program aims to foster a thriving ecosystem of projects and developers working within the Polygon network. By providing financial backing, guidance, and oversight through the Community Treasury Board, the grant program seeks to drive adoption, innovation, and success within the Polygon and Ethereum communities. Developers and projects interested in building or migrating to Polygon are encouraged to apply for funding through the grant program to receive support for their projects and contribute to the growth and success of the ecosystem.
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