Traditionally, grant programs are related to science, art or education. However, aware of the need to spread the technology, the cryptocurrency industry has seen an increase in subsidy programs despite the recent cryptocurrency winter. Funding projects and encouraging builders within the ecosystem is not really a new idea. However, just in the past three months, some major cryptocurrency companies have announced major funding programs available to the public.
To choose the right program, it is important to evaluate some criteria:
- Often, an application is tied to a specific protocol or infrastructure layer. And will finance projects based solely on this infrastructure.
- Some programs focus only on builders and developers, but there are also programs that finance cultural projects and artists.
- Project criteria can range from public goods to venture-backed businesses and startups. The scale of the project also plays an important role.
- The voting procedure is different. Often the community plays an important role in the voting process. However, sometimes the internal team calls the winners.
- Funding currency. Most projects use the local currency to award prizes. For optimism, this is the AP; for a polygon it is MATIC and so on.
- Learning times vary widely. It's best to follow each project's blogs and social media for updates.
Here are some of the best grant programs to explore in 2024.
Optimism KUSACHAK
The Optimism Foundation, the team behind OP Mainnet (formerly known as Optimism, an Ethereum Layer 2 scaling solution that is the second largest Layer 2 network on top of Ethereum), has launched its first funding program called RetroPGF ( which is intended for reverse activity public goods). funding) in spring 2021. The Optimism Collective, an autonomous collective of Optimism contributors, has been tasked with distributing 1,000,000 OP tokens to fund on-chain public goods. According to the Optimism blog, RetroPGF is based on the idea that it's easier to determine what has been useful than to submit grants in advance for something that might be useful. » Since then, the program has already completed two cycles and is completing a third, while experimenting with defining the idea of public good in the cryptocurrency sector, as well as dividing funding cycles between different disciplines (currently We ❤️Art program is open for artist registration until January 8, 2024 ). Not only is there a significant increase in the fund each cycle (RetroPGF's current cycle is approximately 30 million PO, or approximately $112 million USD), but there is also an expansion into the various categories in which the program accepts questions, from fund to infrastructure to NFT.
Arbitration Ara
Arbitrum is a tier-2 master network designed to scale transactions on the Ethereum blockchain. The team is divided into two parts: Arbitrum DAO and Arbitrum Foundation. The grant program is an ongoing project with an open grant application process during which projects can apply for grants as needed. Each stage of the program does not have a fixed end date, but usually lasts about three months. This period may continue until the Arbitrum Foundation is satisfied that the objectives of this particular milestone have been achieved. The Arbitrum Foundation's grant program is focused primarily on the ecosystem of developers and builders who contribute to the infrastructure layer, tools and applications. According to the program's website, "for grants related to education, events, or community projects, please coordinate directly with the DAO." Thanks to the latest Short-Term Incentive Program (STIP)
polygon MATIK
Polygon is another layer 2 scaling solution that aims to improve the scalability of Ethereum by using a multi-tier architecture. Polygon Labs has reinvented Polygon Village: a new place for grants, mentorship, and networking for developers in the Polygon ecosystem. In November 2023, the team announced the launch of a grant program worth more than 110 million MATIC (about 100 million USD). The program uses a quadratic approach to funding and offers three tracks, with the promise of more programs in the near future. Two of the three packages have just closed applications, and the third is expected to reopen applications in February 2024. The different packages offer different amounts of funding, from 100,000 to 170,000 MATIC per team (about 100,000-170,000 USD).
Basic
Based on Ethereum
Whether it's traditional front-end funding or a retrospective model, such initiatives allow for an independent, non-enterprise-funded project to emerge and contribute to the broader crypto ecosystem. If resources are used strategically, there is a good chance that manufacturers funded by such programs will be able to maintain healthy growth while simultaneously developing products for the general public. In the decentralized philosophy of the cryptospace, grant initiatives play a special role in the development of technology, the development of smart contracts, and the distribution of decentralized applications (DApps). These grants are often accompanied by expert mentorship, access to a network of industry leaders, and technical support, significantly lowering barriers to entry into the industry. After all, grant programs are often more than just a financial lifeline, they become incubators for future industrial breakthroughs.
Disclosure: I may own the NFTs and tokens of the artists and projects I write about, all purchased with my own funds.