Polygon unveils 1 billion POL token program to boost developer engagement

Polygon, the Ethereum layer-2 blockchain, has unveiled a Neighborhood Treasury initiative funded with 1 billion POL tokens, which can be distributed over the following decade to drive developer engagement on the community.

In accordance to the June 11 press launch, the tokens can be sourced from 1% of the community’s annual token emissions, as detailed within the POL whitepaper.

Polygon grant

Polygon has launched the primary season of its Neighborhood Grant Program (CGP), providing builders an preliminary 35 million MATIC valued at round $22 million. Future seasons will present up to 100 million POL tokens because the community transitions from MATIC to POL.

Polygon’s CGP goals to assist early-stage builders with important funding. Polygon said:


Builders can apply for grants from June 11 to Aug. 31. The grants vary from 5,000 MATIC to over 50,000 MATIC. The Neighborhood Treasury Board will oversee the choice course of.

Functions are open for the Basic Grants Observe and the Client Crypto Observe. The Basic Grants Observe consists of all initiatives constructing on the Polygon protocol, akin to protocol infrastructure and developer tooling libraries.

However, the Client Crypto Observe targets initiatives centered on driving shopper adoption, together with gaming, decentralized social platforms, content material creation, and NFT improvements.

Crypto neighborhood members have welcomed the initiative, stating that it will encourage builders to develop progressive initiatives.

Sport developer Chris Heatherly said:

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

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