Web3 Foundation opens applications for decentralized Futures Program
Web3 Foundation, a Zug, Switzerland-based not-for-profit organisation whose flagship project is the Polkadot blockchain protocol, announced the launch and opening of applications for their decentralized Futures Program.
Backed by 20M USD and 5M DOT throughout 2024, equivalent to over $45M USD, the decentralized Futures Program is part of the Foundation’s mission to empower the Polkadot community to lead the decentralized development of the Polkadot ecosystem. The program will provide funding to launch teams and individuals building projects that contribute to the growth of the Polkadot ecosystem. Teams and individuals of all sizes, backgrounds and disciplines will be eligible for funding, including but not limited to, projects working on developer experience, marketing, community events, ecosystem development, common good parachains and infrastructure.
Funding will be awarded to projects that can evidence capacity to scale to self-sufficiency.
The launch of the decentralized Future Program follows the recent appointment of Fabian Gompf as CEO of the Web3 Foundation. Prior to his role as CEO of the Foundation, Gompf served as a member of the Foundation’s Council. Until 2022, he served as VP of Ecosystem Development at Parity Technologies, where he played a crucial role in building and launching the Polkadot network.
Speaking on the launch of the program, Gompf said: “The Foundation believes its strongest asset is the community itself. The decentralized Futures Program doubles down on this belief, allocating sizeable investments and grants that can accelerate the growth of decentralized technologies. By empowering our community to lead the next phase of the development of Polkadot we are tapping into the diverse capabilities of our community, and moving away from centralized stewardship of the protocol. In doing so, the program represents a meaningful step closer to realizing the fundamental vision of the Foundation: creating a decentralized internet where users control their own data, identity and destiny.“
Speaking on the importance of decentralized development, David Hawig, Technical Advisor at Web3 Foundation, said: “We see decentralized governance and leadership as a core value of web3 and Polkadot. The decentralized Futures Program reaffirms that commitment, building on the success of the Web3 Foundation’s Grant program which – as of September 20th, 2023 – has processed 1,000 payments in grants funding.“
Founded in 2017 by Ethereum co-founder and former chief technology officer Dr. Gavin Wood, Web3 Foundation is a not-for-profit organisation that supports Web3 teams and open-source projects through funding, advocacy, research and collaboration.
Source: VC Wire
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