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

This grant signifies the Web3 Foundation’s first DF grant to an Asia-based entity and aims to bolster Polkadot’s decentralization efforts through technical advancements, community building, and ecosystem growth.

Part of an initial allocation of $20 million and 5 million DOT tokens for Decentralized Futures, this grant enables Polkadot to fund both profit-oriented and non-profit organizations that contribute to its ecosystem.

PolkaPort East, an independent entity, will focus on enhancing investor relations and fostering growth for Polkadot in Hong Kong and the Greater Bay Area. While the specific grant amount remains undisclosed, it will support PolkaPort East’s mission to bolster Polkadot's presence in the region, including promoting the ecosystem and attracting investment.

Max Rebol, co-founder of PolkaPort East, emphasized the grant’s significance for Polkadot's decentralization efforts in Hong Kong. Co-founder Thibault Perréard highlighted that the grant will enable PolkaPort East to leverage Asia's dynamic innovation hubs, engaging with local governments, global enterprises, and investors in the region.

David Hawig, Ecosystem Director at Web3 Foundation, expressed confidence that PolkaPort East will play a crucial role in advancing connectivity and community empowerment in Hong Kong, aligning with the vision of a decentralized internet.