Polygon introduces a $720 million Community Treasury to fund blockchain projects, targeting developers within the Polygon and Ethereum ecosystems.

Polygon Launches $720M Community Treasury for Blockchain Grants

Key Points:
- Community Treasury Initiative: Polygon has introduced a $720 million Community Treasury aimed at supporting blockchain projects over the next decade.
- Initial Allocation: The treasury will allocate an initial 35 million MATIC tokens (approximately $25 million) for the Community Grants Program (CGP) first season.
- Annual Distribution: Approximately 100 million Polygon ecosystem tokens (POL) will be distributed annually, totaling one billion POL tokens over ten years.
- Grant Tracks: The CGP's first season offers two tracks: the General Grant Track and the Consumer Crypto Track, catering to various project types.
- Application Process: Applications for the inaugural season are open from June 11 to Aug. 31, with projects required to demonstrate long-term viability and a commitment to Polygon.

Empowering Blockchain Innovation

Polygon's $720 million Community Treasury represents a significant commitment to fostering innovation within the blockchain space. The initiative aims to support developers and entrepreneurs within the Polygon and Ethereum ecosystems, providing them with resources to bring their ideas to life.

Initial Allocation and Annual Distribution

With an initial allocation of 35 million MATIC tokens for the first season of the Community Grants Program, Polygon seeks to kickstart its support for innovative projects. Additionally, the treasury plans to distribute approximately 100 million POL tokens annually over the next decade, ensuring sustained support for blockchain innovation.

Grant Tracks

The CGP's first season offers two distinct tracks to cater to a wide range of projects. The General Grant Track welcomes projects across various categories, with a particular focus on decentralized applications, developer tooling, and protocol infrastructure. Meanwhile, the Consumer Crypto Track is dedicated to supporting innovative blockchain-based applications for everyday users.

Application Process and Selection

Projects interested in securing grants from the Community Treasury must apply between June 11 and Aug. 31. The application process involves demonstrating the project's long-term viability and commitment to the Polygon ecosystem. Grants will range from 5,000 to over 50,000 MATIC tokens, with the Community Treasury Board overseeing the selection process.

Polygon's Community Treasury initiative represents a significant step forward in supporting blockchain innovation. By providing substantial resources and fostering collaboration within the community, Polygon aims to drive the development of impactful projects that benefit users across the globe.