The blockchain platform Polygon has announced an ambitious proposal to boost the development of its ecosystem. Through its revamped project Polygon Village 2.0, the company will allocate a fund of $90 million to support the growth of various initiatives.
This comprehensive program aims to strengthen the community and provide substantial resources for projects at all stages of development.
With over 110 million MATIC available in grants, mentorship, and ecosystem support, the company hopes to catalyze innovation and expansion within its platform.
Polygon Village 2.0 is structured into three key components: “Village Grants,” “Village Build Ideas,” and “Village Startup Support.”
Following the announcements, Polygon (MATIC) is experiencing a bullish trend, reflecting the confidence of its followers. According to the latest data from CoinMarketCap, MATIC is trading at $0.8466 after a 9.35% increase in the last 24 hours.
Its market capitalization has also grown by 9.56% and is close to reaching $8 billion. On the other hand, its trading volume has surged by 26%, reaching $645 million.
Polygon Village is back, shinier, and better than ever.
With a grant program of more than 110 million in MATIC, deep mentoring, and ecosystem support, Village is the home for web3 founders.
Because it takes a village to build a unicorn.https://t.co/xoHG7LgjQG
A quick tour 🧵 pic.twitter.com/ck0SYf4Eb0
— Polygon (Labs) (@0xPolygonLabs) November 9, 2023
Polygon Aims for Leadership in the Blockchain
Under the community grants program, projects in various areas, from DeFi and SocialFi to gaming and infrastructure, can access direct funds of up to 2 million MATIC from the Polygon fund.
A notable aspect of this approach is the use of “Quadratic Funding,” a mechanism that amplifies available resources by inviting the community to donate to projects, acting as votes to allocate funds.
This mechanism will yield excellent results in fostering greater engagement and community support.
In addition to grants, Polygon Village 2.0 offers Village Build Ideas, a platform that provides inspiration through predefined project ideas backed by mentorship and support.
This makes it easy for teams to select projects and turn them into fully developed realities.
The Village Startup Support program allows projects to apply for vouchers for various services, from smart contract audits to storage solutions.
This measure is complemented by opportunities to interact with technology experts, the Polygon Labs team, VCs, and marketing strategists to bring projects to life.
In parallel, the platform seeks to connect the community through Village Builder Houses, physical spaces in New York and Lisbon designed to foster collaboration and resource-sharing.
The initiatives align with the company’s constant efforts to establish itself as a leading force in the blockchain space.
Polygon’s significant investment in these projects demonstrates its commitment to the continuous building and strengthening of its community and its position in the blockchain market. Decentralization and support for innovation are key pillars of its growth strategy.