The Mintlayer sidechain allows users to build a decentralized ecosystem on the Bitcoin blockchain, opening it up to DeFi, Smart Contracts, Atomic Swaps, NFTs, and dApps.
Bitcoin Side Chain mintlayer has announced the launch of a $4 million open source development grant initiative and the start of accepting applications. The launch of the grant program is the “first major ecosystem initiative in Mintlayer’s long-term development” and is reserved for projects that will directly benefit the Mintlayer ecosystem first and the Bitcoin ecosystem by extension.
“One of our directives is to attract the best teams, projects and ideas to the Bitcoin ecosystem through Mintlayer. These grants ensure that when developers have a brilliant idea, there are resources to build it,” says Enrico Rubboli, co-founder and CEO of Mintlayer.
The grants will be generated from a pool of Mintlayer $ML tokens that were reserved for projects that would contribute to the growth of the ecosystem but would not generate their own revenue. Examples of projects encouraged apply They are wallets, Lightning Network tools, block explorers, analytics tools, developer tools, and educational resources.
Projects that do not fall into any of these categories are encouraged to join Mintlayer’s acceleration and incubation programs. The projects of the incubator program will receive the necessary technical assistance to bring their ideas to reality. The accelerator program is designed for projects at a more advanced stage or projects in another protocol.
Applicants will be required to provide a detailed explanation of their project together with personal details and documentation supporting the feasibility of their project or documenting the progress of their project. Grants will be awarded based on how the respective projects fit into the Mintlayer roadmap.
The Mintlayer grant program comes at a time when institutional investment is low. According to data from CoinShares, the digital asset industry received a total investment of $433 million during the year 2022, the lowest since 2018, when inflows totaled just $233 million. That translates to a 95% decline from $9.1 billion in 2021 and a 93% drop from $6.6 billion in 2020.
The Mintlayer sidechain allows users to build a decentralized ecosystem on the Bitcoin blockchain, opening it up to DeFi, Smart Contracts, Atomic Swaps, NFTs, and dApps.
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Mercy Mutanya is a technology enthusiast, digital marketer, writer, and IT business management student. She likes to read, write, do crossword puzzles, and binge-watch her favorite TV series.
