Kadena is a proof of work-based cryptocurrency, which can also support smart contracts. It has now announced new grants to encourage the creation of Web3 experiences. The Kadena Eco Initiative, which aims to provide builders with a full suite of tools to help them deploy their solutions at the top of the chain’s chains, has this $100 million grant fund.
Kadena Grants – Attracting People to the Ecosystem
Kadena is a leading 100 cryptocurrency project. It uses proof-of work (PoW), consensus, and offers smart contract execution. Now, Kadena has announced a set of new developer grants to help builders join its network. Kadena Eco offers other programs that help companies, startups, and teams to create Web3 experiences. The grant program has $100 million.
There are many other elements to the Kadena Eco Program that will be added in the future. Among them are an incubator for growing the skills of more developers in different projects, an accelerator to power other projects, and even a venture fund that aims to “propel companies using or pivoting to Kadena’s blockchain platform to realize their vision.”
Stuart Popejoy (founder and CEO) of Kadena stated that Kadena offers builders a full range of global support.
We’re empowering builders to pioneer new projects that transform the world, and we’re doubling down on our promise to make that happen by actively and responsibly deploying our treasury resources to ensure long-term sustainability of our ecosystem.
Grants Process and Similar Programs
This grants program is currently open for proposals. According to the Kadena team’s press release, each proposal will be evaluated taking into account technical strength, details of specifications, experience of team members, as well as its usefulness in the ecosystem. This team is open to receiving proposals from people in gaming, metaverse and Web3 as well as DeFi and DAOs.
However, recipients of this grant will have to also abide by Kadena’s requirements, and contribute to the ecosystem by producing material directed to teaching other members of the community about the programming of their products.
Web3 has been a focal point of many businesses and funds who are offering incentive for builders and investing. Griffin Gaming Partners launched one of the largest funds in Web3 and Gaming, raising $750 Million. Blizzard is a 200 million-dollar fund that was launched last November by The Avalanche Foundation. This fund seeks to invest $200 millions in innovation based on Avalanche.
What do you think about Kadena’s $100 million Web3 development fund? Leave a comment below.
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