Polygon, a prominent blockchain technology and gaming company, has announced the allocation of $640 million in community grants to support blockchain development. This initiative follows a community vote to unlock the equivalent value in tokens over the next ten years.

One Billion Tokens

The program will release one billion POL tokens, distributing around 100 million POL annually. In the first season, 35 million MATIC tokens, equivalent to $27 million, will be allocated to support projects on the Polygon Layer 2 blockchain and the Ethereum ecosystem.

Polygon Logo and Cover Art

Community Treasury and Season 01 Funding

The newly established Community Treasury, managed by a neutral Community Treasury Board, will oversee the funds. Season 01 of the Community Grants Program (CGP) begins with the distribution of 35 million MATIC to selected projects, with grant applications now open.

Funds from the Community Treasury will be used for grantmaking, with professional Grant Allocators distributing a portion of the Season 01 funds. This open funding framework aims to support builders who contribute to Polygon’s growth and success.

Focus on Innovation and Community Growth

Polygon's developer community has significantly contributed to the platform’s expansion, participating in hackathons, accelerators, and global meetups. The initiative acknowledges these efforts and aims to foster further innovation within the Polygon ecosystem.

The Community Grants Program offers two distinct tracks for applicants:

1. General Grant Track: Open to any project building on Polygon, focusing on areas such as developer tools, protocol infrastructure, and decentralized applications (dApps).
2. Consumer Crypto Track: Targeting projects that drive crypto adoption through consumer-led use cases, including gaming, gamified commerce, NFT innovations, and content co-creation.

Community Grants Program

Supporting Long-term Blockchain Development

The grants will support projects building on or migrating to Polygon, emphasizing long-term development and community governance. Notable projects that began with Polygon grants include Quickswap, Keom, Jokerace, and Intraverse.

The Community Grants Program aims to provide crucial support during the development phase, encouraging developers to innovate and explore new ideas.

The framework for deploying treasury grant funds remains open for community feedback. Polygon aims to create a robust, community-governed network of chains, driven by the efforts and creativity of its developer community. Through the Community Grants Program, Polygon continues to support the advancement of blockchain technology.