Connect with us


Web3 Foundation to deploy $22M in a community-driven program 



In a bid to encourage valuable contributions to the Polkadot ecosystem, the Web3 Foundation, the driving force behind its development, has introduced an innovative program which will see it deploy 22 million US Dollars. This inclusive initiative is open to both teams and individuals who are eager to contribute to the advancement of Polkadot.

By fostering community engagement, the Web3 Foundation’s project aims to equip its members with the tools they need to actively participate in the ecosystem. The foundation strongly believes in amplifying the diverse voices within the community, nurturing and empowering potential leaders along the way.

According to Web3 Foundation, the growth of the Polkadot ecosystem must be community-driven. In line with this objective, the program’s kickstart initiative sets forth the ambitious goal of deploying a significant amount of funds.

Specifically, a staggering 20 million CHF, which is equivalent to over 22 million US Dollars, will be allocated throughout the year 2024. Additionally, an impressive 5 million DOT will also be distributed as part of this initiative.

This substantial investment is a testament to the foundation’s commitment to fostering the development and expansion of the Polkadot ecosystem. Through this community-driven approach, the foundation aims to catalyze innovation, support projects, and pave the way for a thriving and vibrant ecosystem.

However, according to the Web3 Foundation, this step forward will enhance the community-governed funding mechanism of the Polkadot Treasury. Moreover, it will serve as a means to support projects that make significant contributions to the growth, development, and future of Polkadot, as emphasized by the Foundation.

While the Web3 Foundation stirs up excitement within the Polkadot community, the official launch date and funding application procedure have yet to be announced.

Read also;

Astar Network Unveils Plans  for its zkEVM Protocol 

What do you think of this article? Share comments below.

0 0 votes
Article Rating
Click to comment
0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments

Latest Episode on Inside Blockchain

Crypto News Update

Crypto Street



ALL Sections

Recent Posts

Would love your thoughts, please comment.x

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

CryptoTvplus - The Leading Blockchain Media Firm will use the information you provide on this form to be in touch with you and to provide updates and marketing.