The Mintlayer sidechain allows users to build a decentralized ecosystem on the bitcoin blockchain, opening it up to DeFi, smart contracts, atomic swaps, NFTs, and DApps.
bitcoin sidechain mintlayer announced the launch of a $4 million open-source development grant initiative and the start of accepting applications. The grant program launch is “the first major ecosystem initiative in the long-term development of Mintlayer” and is reserved for projects that will directly benefit the Mintlayer ecosystem first and Bitcoin Ecosystem by extension.
“One of our mandates is to attract the best teams, projects and ideas to the bitcoin ecosystem through Mintlayer. These grants assure that when developers come up with a bright idea, there are the resources to make it happen,” says Enrico Ruboli, co-founder and CEO of Mintlayer.
Funding will be generated from a pool of Mintlayer’s $ML tokens that were set aside for projects that will contribute to the development of the ecosystem but will not generate their own revenue. Examples of Projects Encouraged apply There are wallets, Lightning Network tools, block explorers, analytics tools, developer tools, and educational resources.
Projects that do not fall into any of these categories are encouraged to join Mintlayer’s Accelerator and Incubator programs, Projects under the incubator program will receive the technical support needed to bring their ideas into reality. The accelerator program is designed for projects at a more advanced stage or another protocol.
Applicants will be required to provide a detailed explanation of their project with a personal statement and documentation that either supports the feasibility of their project or documents the progress of their project. Grants will be awarded based on how respective projects fit into Mintlayer’s roadmap.
Mintlayer’s grant program comes at a time when institutional investment is low. According to data from CoinShares, the digital asset industry is set to receive a total of $433 million in investments during the year 2022, the lowest since 2018, when total inflows were only $233 million. This translates to a 95% decrease from $9.1 billion in 2021 and a 93% drop from $6.6 billion in 2020.
The Mintlayer sidechain allows users to build a decentralized ecosystem on the bitcoin blockchain, opening it up to DeFi, smart contracts, atomic swaps, NFTs, and DApps.
Mercy Mutanya is a tech enthusiast, digital marketer, author and IT business management student. He loves to read, write, do crosswords and binge-watch his favorite TV series.
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