Polygon Launches Community Grants Program for Web3 Projects

Polygon, the popular blockchain technology and gaming company, has announced its latest community grants program aimed at supporting blockchain development on the Polygon Layer 2 and Ethereum networks.

The program, approved by a community vote, will release one billion $POL tokens over the next 10 years, distributing approximately 100M $POL tokens annually. In the first phase, 35M $MATIC tokens, valued at $27M, will be allocated to projects.

This initiative is designed to provide support during critical development phases, encouraging innovation.

Source: Polygon

Community Treasury and Funding

A neutral Community Treasury Board will oversee the newly established Community Treasury, which will manage the funds. The first season of the Community Grants Program (CGP) has begun, with 35M $MATIC tokens set aside for selected projects.

Professional Grant Allocators will distribute a portion of the Season 01 funds to ensure fair allocation and support developers and projects within the Polygon ecosystem.

The Community Grants Program offers two tracks:

General Grant Track: Open to any project building on Polygon, focusing on developer tools, protocol infrastructure, and dApps.
Consumer Crypto Track: Targeted at projects that drive crypto adoption through consumer applications, including gaming, gamified commerce, NFT innovations, and content creation.

The grants will support both new projects and those migrating to Polygon, with a focus on long-term development and community governance.

Grant applications are open from June 11 until August 31, and will be reviewed on a rolling basis, with an average four-week turnaround for grant allocation.

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The post Polygon Launches Community Grants Program for Web3 Projects appeared first on NFT Plazas.


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