Polygon, a prominent Layer-2 network, has declared the initiation of its Community Grant Program, a significant effort aimed at fostering innovation and expansion within its ecosystem. The program’s objective is to distribute 1 billion POL tokens, currently known as MATIC, to developers over the next ten years. The initial package of 35 million tokens, valued at $23 million based on current market prices, has already been made available for distribution. The program’s funding will be sourced from Polygon’s Community Treasury, with an estimated annual distribution of approximately 100 million POL tokens.
Participants in the program will have the choice between two different tracks. The “Public Grant Path” will be open to all developers interested in working on the Polygon platform, while the “Consumer Crypto Path” is designed for projects that promote the adoption of cryptocurrencies across various sectors like gaming, decentralized social applications, artificial intelligence, blockchain integrations, and NFT innovations.
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