Web3 Foundation Grants Program Reaches 500 Projects Milestone

Web3 Foundation

As we proceed our steadfast mission to domesticate a decentralized net, we’re thrilled to announce that we now have achieved one more outstanding milestone — signing an astounding 500 grants by means of the Web3 Foundation Grants Program. This accomplishment is a testomony to the rising ecosystem and the dedication of gifted groups working tirelessly to advance the way forward for Net 3.0. As with the 100, 200, 300, and 400 grants milestones, we wish to seize this chance to take you behind the scenes and share insights into the progress made up to now.

The Web3 Foundation Grants Program focuses on growing decentralized protocols and selling an open, decentralized net. One of the simplest ways to take action is to fund open supply software program and open entry analysis. However we additionally determined to make the entire software and evaluation course of open, and now course of greater than 90% of all grant functions and milestone critiques publicly on GitHub. This openness has led to extra scrutiny, significantly round funding choices, but in addition larger belief.

The Grants Program maintains sturdy relationships with different grant packages, each inside and out of doors the Polkadot ecosystem. This system has efficiently inspired innovation and development within the decentralized ecosystem by offering preliminary funding for tasks. Many of those tasks go on to get extra help from sources like VC investments or on-chain treasuries.

Profitable parachains like Moonbeam and Astar, which acquired W3F grants funding early on, are nice examples of this success. However that is solely a small a part of the lengthy listing of small tasks that developed into profitable parachains: roughly three-quarters of the parachain groups on Kusama and Polkadot signed a number of grants with us, and 60% of them efficiently accomplished at the very least 1 grant.

This system’s achievements may also be seen within the giant amount of repositories with excessive engagement, corresponding to WasmEdge, Hyperledger’s Solang, Gossamer, or the Open Runtime Module Library, to call a couple of. Because of the clear nature of the present setup, the grants program may be transferred on-chain at a later level and subsequently is a perfect taking part in area for a decentralized system.

Because the program’s launch in December 2018, we now have acquired a formidable 1238 functions, with 532 being accepted. Thus far, 230 devoted groups have efficiently accomplished their tasks, and 410 have accomplished their first milestone. To discover the total listing of accepted functions, please see here.

Thus far, the signed grants embody each facet of the Web3 expertise stack. Over half are devoted to runtime modules and improvement instruments. The remainder contain parts corresponding to UI improvement, wallets, good contracts, deployment tooling, APIs, and extra.

The groups are engaged on a variety of decentralized use instances, together with digital identification and privateness, IoT, video games, information storage, and finance, amongst others.

Because the Web3 motion features momentum, it’s clear that it is a actually world group. Web3 Foundation grantees come from all all over the world, with the biggest economies, the US and China, persevering with to dominate the area with 15.9% and 11.5% of candidates respectively. Notably, smaller nations corresponding to Singapore and Switzerland are additionally making their mark, contributing 7.4% and 5.6% of candidates. This range and vary of concepts is a part of what makes the Web3 ecosystem so thrilling, and we are able to’t wait to see what the long run holds.

For extra details about the grants program, be a part of our Matrix community channel, go to web3.foundation/grants or head over on to our GitHub repository or its dedicated frontend. To learn the way to take part or contribute, there’s a page for that as properly.

We even have Factor channels for real-time discussions on Web3 and Polkadot:

Sadly, scams are quite common within the crypto area. With the rising reputation of Polkadot and Kusama, we now have additionally seen an increase of impostors attempting to rip-off our group. Learn to defend your self and decrease the chance of dropping your funds in the Polkadot Wiki.

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