mintlayera Bitcoin sidechain, recently launched an open source development grant program with $4 million worth of ML tokens available for developers.
Mintlayer funds innovation in the Bitcoin ecosystem
The Mintlayer grant initiative is specifically designed for projects that would be valuable to the Mintlayer protocol but not necessarily profitable. Projects that can create value within the Mintlayer ecosystem, but may not involve issuing a pre-allocated token or generating a revenue stream, are encouraged to apply for a grant. Those that might be eligible for funding include those related to community building, research, education, or improving the usability of the Mintlayer protocol.
Interested candidates can apply for a grant through Mintlayer Ecosystem providing a detailed explanation of your project, personal details and relevant documentation that shows your ability to carry out your idea. Recipients will be selected based on how well their vision aligns with Mintlayer’s roadmap.
Enrico Rubboli, CEO of RBB Lab, said that the grant initiative aims to attract the best teams, projects and ideas to the Bitcoin ecosystem through Mintlayer. This gives developers the resources they need to bring their innovative ideas to life.
An association between blockchain-focused investors and other Mintlayer ecosystem stakeholders, the Mintlayer Ecosystem Fund is dedicated to driving innovation in the emerging Bitcoin-centric and Mintlayer-based decentralized finance (DeFi) ecosystem.
The fund primarily invests in projects that offer novel and unique contributions that help make Bitcoin more practical and interoperable with various DeFi use cases. The majority of the fund’s investments are expected to be in the range of $50,000 to $200,000, providing significant support to early-stage projects.
Mintlayer Grants Fuel Crypto Market Growth
Mintlayer grants are crucial as institutional crypto investments declined significantly in 2022.
According to a recent report By James Butterfill, crypto fund investments in 2022 were the lowest since 2018, and digital assets saw inflows totaling just $433 million throughout the year. This marks a staggering 95% decline from 2021, when receipts totaled $9.1 billion, and a 93% drop from 2020, when receipts reached $6.6 billion. The challenging year for crypto markets was further highlighted by declining global market capitalization, which started at $2.3 trillion and ended at $829 million, resulting in a loss of approximately 64% of market value.
Mintlayer also offers accelerator programs for experienced teams with well-defined ideas and roadmaps ready to be executed. Selected teams will be able to work closely with senior venture capitalists and advisors, who will provide mentoring, fundraising support, and assistance in getting to market according to schedule.
Additionally, Mintlayer encourages free and open source development through its grant initiative. As the cryptocurrency market continues to evolve, initiatives like these can play a crucial role in driving the growth and adoption of blockchain technology, particularly Bitcoin.
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