JAKARTA - The crypto world is back with good news. BitMEX founder Arthur Hayes, through his crypto investment fund called Maelstrom, announced the launch of the Bitcoin Grant Program. The goal? Supports the technical development of the world's largest blockchain network, namely Bitcoin. This program also has a special focus: increasing resilience, scalability, resilience to sensors, and Bitcoin privacy.
This program is not just a discourse. Maelstrom is committed to supporting Bitcoin developers through an open and transparent grant process. How do you do it? Maelstrom will provide grants ranging from 50,000 to 150,000 US dollars per applicant. This grant will be distributed over 12 months in monthly payments. And interestingly, grant recipients can choose to accept payments in the form of Bitcoin (BTC) or stablecoins such as USDC from Circle and USDT from Tether.
What is expected from the recipients of the grant? Active contribution to Bitcoin's technical development. This could mean contributing the code to Bitcoin Core via pull request or providing reviews on existing codes. Maelstrom, like any other company in the crypto space, indirectly relies on the hard work of open-source Bitcoin developers. Therefore, we want to give back and contribute to Bitcoin technology, which is the basis of the entire crypto ecosystem," said Maelstrom's representative.
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For developers interested, a grant proposal must be submitted before August 25. After that, grants will be distributed in the third or fourth quarter of this year. However, keep in mind that grant mergers are allowed, but the total amount is limited to 250,000 US dollars per year.
Arthur Hayes is not alone in managing this program. The grant review committee also involved Jonathan Bier, Chief Investment Officer of London-based investment firm Farside Investors. Bier will serve as Administrator of the Grant Program, ensuring the process goes well.
In addition to the Bitcoin Grant Program, Maelstrom is also known for its diverse investment portfolio. One of its newest investments is Pedle Finance, a protocol that allows users to sell and trade future results. Hayes strongly supports Pedle Finance as an important derivative exchange.
Portfolio Maelstrom also includes Bitcoin Oyl trading apps and Elixir's modular network project. In addition, Maelstrom also acts as the founder's advisor to Ethena's synthetic dollar protocol.
With the launch of this Bitcoin Grant Program, Maelstrom is trying to encourage further development and innovation in the Bitcoin ecosystem. Support from investment funds such as Maelstrom is expected to strengthen the developer community and bring Bitcoin technology to a higher level.
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