EddieJayonCrypto
11 Jun 24
Polygon is launching a Community Grants Program to incentivize developers to build in its ecosystem. The program aims to distribute 1 billion POL tokens over the next 10 years, with an initial tranche of 35 million tokens (worth $23 million) available for distribution. The grants will be sourced fro...
Polygon Labs has launched a Community Grants Program to incentivize developers to build in its ecosystem. The program aims to distribute 1 billion POL tokens over the next 10 years, with an initial tranche of 35 million tokens (worth $23 million) available for distribution.
The grants will be sourced from Polygon’s Community Treasury, with approximately 100 million POL tokens to be given out annually. The program offers two tracks for participation: the "General Grant Track" for builders working on any project on Polygon, and the "Consumer Crypto Track" for projects driving crypto adoption, including gaming, decentralized social applications, AI and blockchain integrations, and NFT innovations.
The program is designed to ensure Polygon becomes a strong, community-governed network of chains. Polygon Labs aims to place 1 billion POL tokens into the hands of developers over the next decade. The initial 35 million tokens are eligible for distribution, tapped from funds available by Polygon’s Community Treasury and denominated in MATIC due to the transition to the new POL ticker. Around 100 million POL tokens will be given out each year, with two participation tracks: the "General Grant Track" for builders working on any project on Polygon, and the "Consumer Crypto Track" focusing on projects driving crypto adoption.
"The grant program follows proposals to ensure that Polygon becomes a strong, community-governed aggregated network of chains," Polygon wrote in a blog post.