VeChain Grants 2.0 will welcome greater financial support for grant recipients, additional funding tracks, and access to the BCG mentorship network and VC opportunities
On January 24, 2024, VeChain, a leading enterprise-grade L1 public blockchain, announced the launch of Grant 2.0, an upgrade to its existing developer grant program.
The new version of the program offers developers up to a new maximum of $100K in funding, a significant increase from its previous $30K limit, in addition to new marketing and microgrants, plus greater mentorship and support for sustainability grant recipients. The updated program is also designed to encourage the development of sustainability-focused decentralized ecosystems in the form of “X-to-earn” applications.
The upgrade responds to feedback regarding the original grant program and increases its attractiveness and overall support, part of VeChain’s efforts to continually adapt to the needs of Web3 builders. It is further proof of VeChain’s mission to offer the best possible support to developers, who will fuel enterprise and individual migration toward sustainable working and living.
WHY:
Sunny Lu, CEO at VeChain said: “Blockchain technology is our most powerful tool to incentivize greater sustainable activity at the individual and enterprise levels, and developers are the key to creating the applications that will drive that change. Our steadfast commitment to them goes hand-in-hand with our commitment to fostering global collective impact.
We’ve made it a priority to address the friction points from our first iteration of the grant program that participating developers brought to our attention, changed its focus to be solely on sustainability, and increased the possible funding amount to $100K. Our hope is that developers have the support they need to create the applications that will lead to a better tomorrow.”
GRANT PROGRAM UPDATES:
The major updates to the grant program, implemented to address direct feedback from previous participants, are as follows:
Seamless submission process — A bespoke website has been created for builders to submit their projects, intended to speed up the process and remove the overly technical, rigid requirements.
Greater grant size — the grant pool maximum has been increased from $30K to up to $100K in funding at each milestone delivery level.
New grant formats — Marketing grants, aimed to support community marketing efforts, and microgrants for smaller initiatives, such as tool integrations.
Greater sustainability weighting — Projects that align with VeChain’s ‘X-2-Earn’ vision for decentralized applications will gain greater weighting and are therefore more likely to receive approval
Increased support for sustainability grants — projects that are awarded sustainability grants will also receive check-ins from the VeChain team, the opportunity to participate in the BCG mentorship and VC networks, in addition to direct exposure on the vechain.org website and from VeChain social media accounts.
