Polygon Leads Blockchain Future With Billions Of Dollars

Polygon leads the future of blockchain with billions of dollars in grants (Photo; Doc. CoinUpdate)

JAKARTA - Armed with a bold vision and a strong commitment to innovation, Polygon revealed its ambitious plan, a one billion-dollar grant program that will last for the next ten years.

The program is designed to inject about $100 million annually into projects that could enrich and advance the Polygon and Ethereum ecosystems.

The Polygon Community Treasury Council will play a key role in overseeing the distribution of these grants, starting with the initial allocation of 35 million MATIC for the first season. This is part of Polygon's long-term strategy to build blockchain infrastructure that is not only robust but also regulated and managed by its own community.

According to BitcoinNews information, the main focus of this program is to provide support to developers and projects that dare to push for decentralized technology boundaries. To qualify for grants, projects must be built on the Polygon platform or willing to migrate there.

A number of projects have benefited directly from this funding, including Quickswap and Intraverse, both of which have shown significant growth and innovation potentials.

The application process for the first season of grants will remain open until August 31, 2024, with funds available for various blockchain applications, ranging from basic infrastructure to decentralized applications (dapps), including decentralized exchange platforms (dex).

The Polygon grant program is designed to support projects at all stages of development. The Community Treasury will allocate funds on a monthly basis, following a rigorous selection and review process. Although the main goal is to spur innovation in the Polygon and Ethereum ecosystems, it still takes time to prove the effectiveness of the distribution of funds of one hundred million US dollars annually.