TL;DR
- Polygon introduces Community Grants Program unlocking 1 billion POL over 10 years.
- Season 01 offers 35 million MATIC to fund the best projects in the Polygon and Ethereum landscape.
- Developers can choose between two participation tracks: General and Consumer Crypto, with funds distributed by the Community Treasury Board.
Polygon, a Layer 2 network, has launched a Community Grants Program to encourage innovation within its ecosystem.
With the ambition to distribute 1 billion POL tokens in the next decade, this program marks a significant milestone in supporting developers.
1,000,000,000 POL over 10 years, unlocked in grant funding.
Season 01 of the Community Grants Program is here, with 35 million MATIC allocated towards funding the best projects across the Polygon and Ethereum landscape.
builders, this one’s for you… pic.twitter.com/esNzImAznk
— Polygon | Aggregated (@0xPolygon) June 11, 2024
Season 01 of the program has begun with an allocation of 35 million MATIC tokens, valued at $23 million at the current price.
These funds come from the Polygon Community Treasury and will be distributed through a transparent, community-based process.
Interested developers can participate in two funding tracks: the General Track, which offers flexibility for diverse projects, and the Consumer Crypto Track, focused on initiatives that drive the adoption of cryptocurrencies in areas such as gaming, decentralized social applications, AI integrations and blockchain, and innovations in NFT.
Importantly, grants for Season 01 will be awarded in MATIC tokens, even though the program is moving to the POL denomination.
The Community Treasury Board will oversee the fund distribution process, ensuring impartial and transparent management.
The Community Grants Program reflects the project commitment to supporting developers long-term and sustainably.
By aligning community interests, Polygon seeks to establish itself as a network of aggregated and community-governed chains.
Driving Innovation at Polygon
Amid this push to foster innovation, developers have the opportunity to contribute to the growth and diversification of the blockchain ecosystem.
The availability of funds through the Community Grants Program represents an important step towards realizing creative and ambitious projects.
With a focus on collaboration and experimentation, Polygon is paving the way for the development of innovative solutions that drive mass adoption of blockchain technology.
Projects supported by this program could play a pivotal role in the evolution of the global crypto landscape.
The creation of the Community Treasury and the launch of the Grants Program are indicative of procotol commitment to building an inclusive and vibrant ecosystem.
By providing resources and support to developers, Polygon is laying the foundation for a stronger, decentralized future in the cryptocurrency industry.
