The Web3 Foundation, the organization behind Polkadot, has awarded a Decentralized Futures (DF) grant to PolkaPort East to support the blockchain network’s expansion in Asia, according to a June 4 statement shared with CryptoSlate.

This is the first DF grant given to an Asia-based entity by the Web3 Foundation. The grant aims to enhance Polkadot’s decentralization through technical, community, and ecosystem growth.

The DF grant, funded by an initial $20 million and 5 million DOT tokens, supports both for-profit and non-profit organizations within the Polkadot ecosystem.

PolkaPort East, an independent entity, will focus on investor and growth relations for Polkadot in Hong Kong and the Greater Bay Area. Although the grant amount is undisclosed, it will aid PolkaPort East’s efforts to strengthen investor relations and growth, as well as promote and attract capital to the ecosystem.

Max Rebol, co-founder of PolkaPort East, highlighted the grant’s critical timing for Polkadot, viewing it as a significant step towards improving the network’s decentralization and presence in Hong Kong.

Co-founder Thibault Perréard emphasized that the grant will allow PolkaPort East to tap into Asia’s dynamic innovation landscape. He stated:

“PolkaPort East will engage with the thriving innovation hubs of Hong Kong and the Greater Bay Area, fostering relationships with local governments, global enterprises, and regional capital allocators.”

David Hawig, Ecosystem Director at Web3 Foundation, commented:

“This project demonstrates our commitment to fostering decentralized access and innovation within the Polkadot ecosystem. We believe PolkaPort East will play a key role in enhancing connectivity and empowering the community in Hong Kong, advancing the vision of a truly decentralized internet.”