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12/06/24
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Polygon Provides 35M MATIC Tokens for Project Builders on the Blockchain
On June 11, Polygon announced the creation of a Community Treasury after community consensus, with plans to support projects building on the Polygon blockchain with 100 million Polygon ecosystem tokens (POL) every year for ten years.
The fund is designed to support developers within the Polygon blockchain through a program called the Community Grants Program (CGP). The first season of CGP will feature an allocation of 35 million MATIC tokens.
“The Community Grants Program will use funds in the Community Treasury for grantmaking. The Community Treasury accrues POL, but given the ongoing token upgrade from MATIC to POL, grants for Season 1 will be made in MATIC,” reads the announcement.
Two tracks for builders in the first season include General Grant Track and Consumer Crypto Track. The General Grant Track is for builders on the Polygon blockchain and there is no “strict limitations on eligible projects.” However, Polygon is “keen to see a few focus areas” for the General Grant Track, including “developer tooling and libraries, protocol infrastructure, and any kind of dApp.”
On the other hand, the Consumer Crypto Track is for projects capable of driving cryptocurrency adoption, especially consumer-led use cases. Such use cases “may include gaming, gamified commerce, decentralized social, AI/blockchain intersection, NFT innovations, content co-creation, digital/physical intersections, and distributed communities.”
Applications for the first season must be submitted between June 11 and August 31. Grant range is between 5,000 and 50,000+ MATIC, with total allocation up to 35 million MATIC. The Community Treasury Board will review and select projects every month.
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