Former JPMorgan tech leaders and the founders of the Proof-of-Work (PoW) blockchain Kadena Will Martino and Stuart Popejoy announced the launch of a $100 Million Grant Program. The grant program by Kadena is to encourage Web3 development on its platform and an extension of Kadena Eco.
Other than the grant program, Kadena brings a larger development initiative that offers project acceleration, incubation, venture capital, and R&D.
Kadena Eco will focus on supporting developers and entrepreneurs in building DAOs, DeFi, NFTs, gaming, metaverse, and web3 on Kadena.
Kadena Eco is designed to bring together developers in the blockchain industry, to fuel the only sharded and scalable layer-1 PoW public network’s hypergrowth.
And the grant initiative to deploy capital on the sustainability of the same, the applicants need to prove their technical know-how, be extremely detailed, outline a qualified team, and explain why that project is useful and important for the Kadena ecosystem.
The program will be administered by Kadena Eco’s CEO Francesco Melpignano who will also mentor the applicants and thus the grant will be a stepping stone for the growth of the developers.
Moreover, applicants who apply for grants must agree to follow the blockchain’s “build in the open” philosophy for which they can expect engineering mentorship, office hours, and community leadership.
Such a recent fund has been recently announced by the Proof of Believability (PoB) based blockchain network the Internet of Service Token (IOST) Foundation launched an “Exclusive Incentive Fund for EVM developers” of $100 million for the growth of the network’s multi-chain ecosystem.
