Polygon, a prominent Layer-2 network, has unveiled a groundbreaking initiative known as the Community Grant Program to promote innovation and expansion in its ecosystem. The program aims to distribute 1 billion POL tokens, previously called MATIC, to developers over the next ten years. The launch of this grant program commenced with an initial allocation of 35 million tokens valued at $23 million in today’s market. These MATIC tokens are now set for distribution, with funding sourced from Polygon’s Community Treasury. The team anticipates an annual distribution of approximately 100 million POL tokens under this program.
Participants in the program can opt for either the “Public Grant Path,” open to all developers looking to build on the Polygon platform, or the “Consumer Crypto Path,” tailored for projects promoting the adoption of cryptocurrencies across various sectors like gaming, decentralized social applications, artificial intelligence, blockchain integrations, and NFT innovations.
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