On January 24, VeChain, a leading enterprise-grade L1 public blockchain, announced the launch of Grant 2.0, an upgrade to its existing developer grant program. The new version of the program offers developers up to a new maximum of $100,000 in funding, a significant increase from the previous $30,000 limit, in addition to new marketing and micro-grants, and greater mentorship and support for sustainability grant recipients. The updated program is also designed to encourage the development of sustainability-focused decentralized ecosystems in the form of "X-to-earn" applications.
The upgrade responds to feedback on the original grant program and increases its appeal and overall support, as part of VeChain's efforts to continually adapt to the needs of Web3 builders. It is further evidence of VeChain's mission to provide the best possible support to developers who will drive the migration of businesses and individuals to sustainable work and living.
Why:
Sunny Lu, CEO of VeChain, said: "Blockchain technology is our most powerful tool to incentivize greater sustainable activity at the individual and enterprise level, and developers are key to creating the applications that will drive this change. Our unwavering commitment to them goes hand-in-hand with our commitment to fostering global collective impact.
We've made it a priority to address the friction points from our first iteration of the grant program that participating developers brought to our attention, changing the focus to be solely on sustainability and increasing the possible funding amount to $100,000. Our hope is that developers will have the support they need to build the applications that will lead to a better future.
Grant Program Updates:
Key updates to the grant program, implemented in response to direct feedback from past participants, include the following
Seamless submission process - A customized website has been created for developers to submit their projects to expedite the process and remove the overly technical, rigid requirements.
Increased grant size - The maximum grant pool has been increased from $30,000 to up to $100,000 in funding at each milestone delivery level.
New grant formats - Marketing Grants to support community marketing efforts, and Microgrants for smaller initiatives such as tool integrations.
Greater emphasis on sustainability - Projects that align with VeChain's "X-2-Earn" vision for decentralized applications will receive greater weight and are more likely to be approved.
Increased support for sustainability grants - Projects that receive sustainability grants will also receive check-ins from the VeChain team, opportunities to participate in BCG's mentorship and VC networks, and direct exposure on the vechain.org website and VeChain social media accounts.
