Polkadot’s ‘Web3 Foundation’ Grants Program Welcomes 300 Projects
Polkadot, a platform that allows cross-blockchain transfers of any type of data or asset, announced today that its grants program has exceeded the 300 projects it supports through its “Web3 Foundation.”
At the beginning of the year, Polkadot announced that its Web3 Foundation reached a 200 project milestone, nearly 7 months after the first 100 projects had been signed. In total 840 applications have been received so far, with an acceptance rate of almost 40%.
Out of 300 signed projects, 143 teams have already reached intended goals while 212 have successfully delivered their first milestone. Out of 302 approved applications, just a bit over the third are projects focused on runtime modules, followed by development tools (14.3%).
Other than these two, projects centered around wallets (12.7%), UI development (11.6%), deployment tooling (10.1%), runtime environment (3.7%), etc.
The Web3 Foundation grants program was launched in 2018 to support innovative applications for decentralized web software protocols. The ultimate aim is to help develop Web 3.0, described by the project as a “decentralized and fair internet where users control their own data, identity, and destiny.”
There are two available grant schemes – General and Open Grants. The former is a standard grant scheme while the latter was introduced to allow projects to obtain funding in an easy manner. It also proved to be a popular program as Polkadot received the vast majority of applications via Open Grants.
Given its popularity, Polkadot now decided to merge two schemes into a single program “while maintaining the best of both worlds.” The discussion on grants is made on GitHub in an open and transparent way.
Projects that are accepted receive funding in digital assets, but payments are also made in fiat and private applications, all via a single repository.
All grants, including recurring ones, can be tracked transparently on GitHub. Polkadot also allows for external milestone evaluations to allow for a fair competition process.
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