Polygon, the Ethereum layer-2 blockchain, has announced a Community Treasury initiative funded with 1 billion POL tokens to be distributed over the next decade to boost developer engagement on the network.

According to a June 11 press release, these tokens will come from 1% of the network’s annual token emissions, as outlined in the POL whitepaper.

**Polygon Grant**

Polygon has launched the first season of its Community Grant Program (CGP), providing developers with an initial 35 million MATIC, valued at approximately $22 million. Future seasons will offer up to 100 million POL tokens as the network transitions from MATIC to POL.

The CGP aims to support early-stage developers with essential funding. Polygon stated:

“Building is hard. The goal of CGP is to support developers while they build. Waiting until a project has finished building and produces results misses a key piece of true innovation: the opportunity to take chances.”

Developers can apply for grants from June 11 to Aug. 31, with grants ranging from 5,000 MATIC to over 50,000 MATIC. The Community Treasury Board will oversee the selection process.

Applications are open for two tracks: the General Grants Track and the Consumer Crypto Track. The General Grants Track includes all projects building on the Polygon protocol, such as protocol infrastructure and developer tooling libraries. The Consumer Crypto Track targets projects focused on driving consumer adoption, including gaming, decentralized social platforms, content creation, and NFT innovations.

The crypto community has welcomed the initiative, noting that it would motivate builders to create innovative projects.

Game developer Chris Heatherly commented:

“Watch as Polygon goes from ‘dead’ to the hottest chain going because they now have rewards.”