Polygon Launches Community Grants Program with 35 Million MATIC Tokens Up for Grabs
Polygon, a leading blockchain platform, has unveiled its highly anticipated Community Grants Program (CGP), signaling a new era of support for developers and innovators within its ecosystem. The program, which is an expansion of the initial Village Grants initiative, comes with the establishment of the Community Treasury, designed to provide substantial funding to builders.
In its first season, the CGP will distribute approximately 35 million MATIC tokens, with a commitment to allocate around 100 million POL tokens annually over the next decade, totaling 1 billion tokens. This significant investment, valued at $660 million at current prices, underscores Polygon’s dedication to fostering a vibrant and community-driven developer environment.
Overseen by an impartial Community Treasury Board, the grant program operates on a transparent and community-aligned funding framework. A portion of the grants for Season 01 will be distributed by professional Grant Allocators to ensure a fair and efficient allocation process.
Eligible projects must be either currently building on Polygon or willing to migrate to the platform, emphasizing long-term commitments in line with Polygon’s vision of sustainable blockchain development.
Past recipients of Polygon’s funding initiatives, such as Quickswap and Jokerace, serve as examples of the program’s potential to drive growth and innovation. Season 01 offers two distinct tracks: the General Grant Track for a wide range of projects and the Consumer Crypto Track focusing on consumer-driven blockchain applications like gaming, decentralized social media, and NFT innovations.
Applications for Season 01 are now open, starting from June 11, 2024, and closing on August 31, 2024. Projects are encouraged to apply early, as reviews will be conducted on a rolling basis. The Community Treasury Board will review and select projects monthly, with grant payouts commencing at the start of the following month.
Key details:
– Applications for Season 01 open on June 11, 2024, and close on August 31, 2024
– Grant range: 5,000 – 50,000+ MATIC tokens
– Total Season 01 allocation: Up to 35,000,000 MATIC tokens
– Monthly reviews and project selections by the Community Treasury Board
– Grant payouts begin on the first of each month
Interested parties can apply for the grants at polygon.technology/grants and learn more about the program’s impact on the blockchain community.
