Sunday, July 14, 2024
Blockchain

Arbitrum Foundation Launches its First Grant Program to Foster Ecosystem Growth

The Arbitrum Foundation has announced the launch of its inaugural grant program, marking a significant step towards fulfilling its mission of fostering ecosystem growth. The Foundation’s grant program is designed to align with partner projects and educational initiatives, both online and in-person, as stated in the Foundation’s Bylaws.

The Foundation Grants, is run by the Arbitrum Foundation in support of the Arbitrum DAO. It is important to note that this program is not intended to replace any DAO-driven grants program. Instead, it is designed to meet the requirements set out in the Foundation’s mission statement, focusing on achieving specific objectives and areas of opportunity identified by the Foundation.

The Foundation Grants is primarily focused on ecosystem growth, issuing grants towards areas where increased development could potentially yield a greater return to the Arbitrum ecosystem. All grants issued through this program are intended to improve adoption, create stronger technical structures, and build sustainable communities. These grants will be milestone and KPI based, established in collaboration with each applicant.

The Foundation Grant Program will operate in distinct phases, each designed to attract applications from specific areas within the Arbitrum ecosystem. The initial phase emphasizes decentralized applications and infrastructure for Arbitrum Nova and Arbitrum One. Projects that do not meet the criteria for the current phase are encouraged to submit a proposal to the ArbitrumDAO or revisit the page at a later time when new phases are announced.

Applications chosen to receive a grant from the Foundation will have the opportunity to be showcased. The Foundation plans to include major activities of this program under the transparency report as stated in AIP 1.1. The Foundation Grants Program is an ongoing initiative, with a rolling grant acceptance window allowing projects with grant requests to submit them as needed. Phases do not have defined “end dates” but can be expected to last for roughly three months or until the Arbitrum Foundation believes the objectives for that phase have been achieved.

The Arbitrum Foundation is determined to support projects within the Arbitrum ecosystem through the Foundation Grants Program. By working together, they aim to foster growth, drive adoption, and build a thriving community, contributing to and shaping the future of the Arbitrum ecosystem.

Grant programs initiated by foundations are a prevalent strategy aimed at amplifying ecosystem influence and enhancing brand visibility. On July 18, 2023, the XRP Ledger Foundation unveiled the recipients of its fifth cycle of XRPL Grants. The Foundation has committed over $1.6 million in total funding to 15 innovative projects, demonstrating its ongoing commitment to fostering groundbreaking advancements within its ecosystem.

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