Kadena Eco Floats a $100M Grant to Empower Web3.0 Developers

Blockchain startup, Kadena Eco has announced the launch of a $100 million grant program that is designed to empower developers building Web3.0 solutions on its platform. As a pioneer in the blockchain ecosystem, Kadena is using the grants to bring more beneficial solutions to the advancing digital world while also growing its ecosystem as required.

“Blockchain is one of the most significant technologies of our time. In fact, it’s essential as we move into a world that is increasingly digital,” said Francesco Melpignano, CEO of Kadena Eco. “That’s why today, we’ve launched a $100 Million Grant Program to inspire builders to come and innovate on the Kadena network.”

The Kadena Eco Grant is open to all developers building high-quality, open-source projects for gaming, metaverse, Non-Fungible Token (NFT), Web3, Decentralized Finance (DeFi), and Decentralized Autonomous Organizations (DAOs). Per the update from the startup, small and big protocols can apply, provided the brain behind such work will agree to Kadena’s “build in the open” philosophy.

This philosophy mandates active builders in the Kadena protocol to contribute “content, tutorials and product explainers in relevant channels and communities such as Discord, Medium, Stackoverflow, and others.” Assuming a bigger responsibility, the Kadena Eco team will provide the relevant mentoring, manpower, and networking that projects needed to succeed.

The application for the Kadena Eco Grant is currently open and the announcement detailed that technical strength, details of specifications, team experience, and usefulness to the Kadena Ecosystem are amongst the criteria that will be used in judging the projects to give the grants to.

Kadena Grant is One of Many Efforts to Take Blockchain Mainstream

While the Kadena Eco protocol said the funds allocated for the grant are one of the ways to access more support to develop the future of the web, the entire program is one amongst many that prominent blockchain ecosystems are championing to scale up and make blockchain innovations go mainstream.

As reported by TheCoinRise, the Binance exchange launched a $1 billion fund to power its ecosystem growth back in October last year, a move that many other blockchain networks have copied.

From Chiron Partners launching a $50 million fund to promote growth in the Terra Ecosystem to the now functional Nexo Ventures arm, more players in this industry are more definitive about the growth of their ecosystem, and financial resources are a start for most of them.