Data indexing solution SubQuery has announced the launch of a $500,000 grant program for teams building on Polkadot Network.
According to an announcement on Wednesday, December 22, SubQuery’s grant program will initially allocate $500,000 to qualified developers leveraging its data indexing tools to build the next generation of Dapps on Polkadot.
SubQuery notes that it is looking for innovative or high-potential ideas that leverage SubQuery’s open-source data indexing tools to build applications that “address problems in the blockchain or distributed ledger technology (DLT) sector.”
Talking about the projects that preferred, the SubQuery team said:
“Solutions that offer much-needed applications, explorers, or dashboards that unlock critical data will be given preference. Other ideas the team is looking for should help the project’s parachain partners expand their ecosystem, and also those that welcome millions more into the fast-growing Polkadot family.”
The selected projects will receive funding from the initial $500,000 pool. This development pool will be increased after the establishment of SubQuery’s Foundation in early 2022 via a new Grants Program. Anyone can apply by filling a form on the SubQuery website’s grant page.
Apart from funding to support development teams, the participants of the SubQuery Grant Program will receive technical and strategic support and can benefit from the expertise and connections of the SubQuery business development team to grow their project.
SubQuery Network is a data aggregation layer that operates between the layer-1 blockchain and DApp layer. The network aggregates and organizes data from Polkadot and Substrate-based blockchains and serves well-structured data for developers for a wide array of projects. This allows developers to focus on their core use case and front-end, without needing to waste time on building a custom backend for data processing.
As Crypto Economy reported, SubQuery has chosen Acala, the DeFi hub and the first parachain on Polkadot, as its home for its upcoming launch. The launch and the token generation event (TGE) are expected in early 2022. The grantees of the SubQuery Grant Program will also be whitelisted for this upcoming TGE.
Sam Zou, founder and CEO of SubQuery, commented:
“SubQuery has been designed to help developers unlock value from blockchain data easily and quickly. We benefited from early support from Web 3 Foundation Grants, Substrate Builders Program, and the Berkeley Blockchain Xcelerator. As such, we are keen to pay it forward to the developer community and foster innovation to help build our vision of a Web3 future together.”