ConsenSys has provided $ 175,000 in grants to seven open source projects working on Ethereum.
Among grantees, Ethereum’s promising Lighthouse software client, Tellor’s off-network oracle network, and Alice’s mobile decentralized application builder. Head of ConsenSys Marketing, Yadira Blocke, commented on the initiative:
“The first wave of grants included many applications, but they were not strong enough. As part of the second wave, more credible teams with unique ideas have appeared. ”
According to Blocker, the ConsenSys grant program, which became known last fall, received more than 150 applications. Of these, 15 projects have already received funding totaling $ 330,000.
Daniela Osorio, ConsenSys Marketing Director, noted that the program’s goal is to support resource-limited development areas that are an integral part of the Ethereum ecosystem but not profitable.
“We look for projects in the following way – we communicate with venture capitalists and ask:“ What wonderful teams that you cannot finance can you meet? ” It all comes down to the theory of the “tragedy of communities.” “We all need certain small components so that everyone else can work on creating global solutions.”
Grants are distributed through the Gitcoin platform, a community of developers where you can monetize your skills while working on open source projects. The platform is currently experimenting with a new form of CLR grant distribution.
According to Gitcoin founder Kevin Owocki, CLR matching is “the mathematically optimal way to finance projects that really interest us.”
The main idea is that the more individual contributions the project receives, the more money it should receive from the allocated grant fund. Using a special algorithm, Gitcoin can distribute cash grants to effectively compare user donations.
Recall that in the spring of this year, the startup Consensys released a manual on working in the blockchain industry, which will help attract new developers to the industry.
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