Home Altcoins News Rootstock Grants Program: Empowering Crypto Innovations with $2.5 Million Funding Boost

Rootstock Grants Program: Empowering Crypto Innovations with $2.5 Million Funding Boost

Rootstock Grants Program

In a bold stride towards nurturing groundbreaking initiatives within the ever-evolving cryptocurrency realm, the Rootstock Grants Program has unfurled its coffers, committing an additional $2.5 million to fund an eclectic wave of pioneering projects anchored on Rootstock, the avant-garde Bitcoin Sidechain.

Set against the backdrop of London, United Kingdom, the initiative seeks to propel the growth and dynamism of the decentralized application (dApp) ecosystem residing on Rootstock. By extending financial support to visionary developers and projects, the Rootstock Grants Program aspires to catalyze the inception of inventive solutions. From the realms of Decentralized Autonomous Organizations (DAOs) to seamless peer-to-peer payment mechanisms, these innovations aim to infuse fresh value into the Rootstock and Bitcoin communities.

As the digital clock ticks towards the swiftly approaching 17th of November, aspiring applicants eyeing a slice of this funding pie are urged to expedite their submissions for Wave III, marking the fast-track entry deadline.

This resolute move follows the triumphant revelation of the trailblazers in the first two waves of the Rootstock Grants Program. Since its inauguration, the scheme has lent its support to a total of 20 trailblazing developments across the cryptocurrency ecosystem. From endorsing Asami, a transparent monetization mechanism tailored for the creator economy, to fostering OKU, a Decentralized Exchange (DEX) championed by the Uniswap Foundation, the program champions innovation across the crypto spectrum.

The Grants program, steeped in an atmosphere of high competitiveness, has witnessed an influx of over 1000 applications, with more than 50 impassioned pitches delivered and a coveted seal of approval bestowed upon 20 commendable projects. The discerning committee, comprised of luminaries spanning the Bitcoin and Rootstock echelons, features names like Jameson Lopp, John Light, Mauricio Tovar, Matías Caricato, Daniel Fogg, and Sergio Demain Lerner.

In the past year, the Rootstock Grants Program has left an indelible mark on the landscape of blockchain innovation. Notable mentions include the nurturing of Footprint Analytics, an ambitious project endeavoring to offer data-rich insights into the blockchain sphere. Similarly, Tuki, a solution tailor-made for the Latin American market, endeavors to seamlessly integrate digital assets into daily life. These projects merely scratch the surface of the transformative endeavors being cultivated through this initiative.

Unveiled in 2018, Rootstock represents the synergy between the robust security and store of value embodied by Bitcoin, coupled with the innate programmability intrinsic to Ethereum. Anchored by over 60% of Bitcoin’s hashing power, the Rootstock sidechain proudly claims its mantle as the most secure and decentralized smart contract platform globally. Renowned as ‘the nexus of DeFi on Bitcoin,’ the network boasts over $300 million in total native value locked.

Ongun Özdemir, the Venture Associate at IOV Labs, expressed fervent enthusiasm regarding the launch of Wave III of the Rootstock Strategic Grants Program. He accentuated, “Utilizing Rootstock, hailed as the world’s most secure smart contract platform, developers can harness the potential of Bitcoin, backed by the requisite financial support and networking avenues essential for triumph.”

Continuing his sentiments, Özdemir emphasized, “Innovation stands as the harbinger of the web3 future. Through the Rootstock Grants Program, our endeavor is to embolden ventures of this nature, ensuring they’re nurtured with resources and mentorship crucial for their flourishing. Witnessing a diverse tapestry of solutions take shape is a testament to the enrichment of the Rootstock ecosystem.”

“Throughout the initial two waves, a plethora of ingenious projects has molded the Rootstock ecosystem, laying the groundwork for a burgeoning global economy. Once more, we beckon founders and builders alike to submit their applications and partake in the $2.5 million funding pool. Our vision extends towards fostering a secure and inclusive global financial system that beckons one and all to participate and prosper,” Özdemir added.

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Pankaj K

Pankaj is a skilled engineer with a passion for cryptocurrencies and blockchain technology. With over five years of experience in digital marketing, Pankaj is also an avid investor and trader in the crypto sphere. As a devoted fan of the Klever ecosystem, he strongly advocates for its innovative solutions and user-friendly wallet, while continuing to appreciate the Cardano project. Like my work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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