Prominent blockchain technology and gaming company Polygon Labs has launched a new initiative to support development of its Polygon Layer 2 and Ethereum networks.
The community-approved grants program will distribute a total of 1 billion $POL tokens over the next decade, giving out about 100 million $POL tokens each year. In its inaugural phase, the program will allocate 35 million $MATIC tokens, valued at $27 million, to selected projects.
The Community Grants Program aims to drive innovation on Polygon by directly providing support and funding to the most promising web3 projects.
How will the funding be distributed?
A neutral Community Treasury Board will oversee the newly established Community Treasury, which will manage the Community Grants fund.
Season 01 of the Community Grants Program has begun, with 35M $MATIC tokens set aside for selected projects. The application period is now open, with web3 projects invited to apply for a portion of these funds.
After a review period, the Community Treasury Board will announce the results and distribute the Season 01 funds to successful projects to supercharge development in the Polygon ecosystem.
Which projects are eligible to apply?
The Community Grants Program offers two tracks:
- General Grant Track: Open to any project building on Polygon, focusing on developer tools, protocol infrastructure, and dApps
- Consumer Crypto Track: Targeted at projects that drive crypto adoption through consumer applications, including gaming, gamified commerce, NFT innovations, and content creation
The grants will support both new projects and those migrating to Polygon, with a focus on long-term development and community governance.
Grant applications are open from June 11 until August 31, and will be reviewed on a rolling basis, with an average four-week turnaround for grant allocation.
For more information about the Polygon Community Grants Program, follow Polygon on X.
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