In a groundbreaking move within the ever-evolving cryptocurrency landscape, the Rootstock Grants Program has announced a fresh infusion of $2.5 million dedicated to fueling a wave of pioneering projects built on Rootstock, recognized as the world’s premier Bitcoin Sidechain.
This initiative marks a significant stride toward fostering growth and innovation within the dynamic decentralized application (dApp) ecosystem on Rootstock. With a vision to propel the development of innovative solutions, from decentralized autonomous organizations (DAOs) to transformative peer-to-peer payment platforms, the Rootstock Grants Program aims to empower developers and projects. The objective is to deliver novel value propositions to both Rootstock and Bitcoin users. Those eager to seize this opportunity in Wave III must act swiftly, as the fast-track entry deadline looms on the 17th of November.
The recent commitment to this third wave of funding follows the triumphant announcement of winners from the program’s initial two waves. Since its inception, the initiative has lent support to a total of 20 pioneering developments across the cryptocurrency spectrum. Noteworthy among these is the backing of Asami, an ingenious transparent monetization mechanism tailored for the creator economy, alongside OKU, a decentralized exchange (DEX) funded by the Uniswap Foundation. The program’s breadth encompasses the multifaceted realm of crypto innovation.
Distinguished by its highly competitive nature, the Grants Program has attracted over 1000 applications to date, with more than 50 impassioned pitches delivered and 20 projects earning approval from a prestigious committee composed of judges spanning the Bitcoin and Rootstock ecosystem. Notable members include Jameson Lopp, John Light, Mauricio Tovar, Matías Caricato, Daniel Fogg, and Sergio Demain Lerner.
Over the past year, the Rootstock Grants Program has been instrumental in nurturing groundbreaking initiatives such as Footprint Analytics, aiming to provide insightful data analysis within the blockchain sphere, and Tuki, a solution tailored for the Latin American market, facilitating the integration of digital assets into daily life. These represent just a glimpse of the transformative projects being propelled forward by this initiative.
Rootstock, introduced in 2018, harmonizes the security and value storage aspects of Bitcoin with the programmability inherent in Ethereum. Remarkably, over 60% of Bitcoin’s hashing power fortifies the Rootstock sidechain, solidifying its position as the most secure and decentralized smart contract platform globally. Notably recognized as ‘the home of DeFi on Bitcoin,’ the network boasts an excess of $300 million in total native value locked.
Commenting on the launch of Wave III, Ongun Özdemir, Venture Associate at IOV Labs, emphasized, “By utilizing Rootstock, developers harness the unparalleled security of the world’s foremost digital asset, Bitcoin, supported by the financial backing and network necessary for success.”
Ozdemir further iterated, “Innovation is pivotal for the progression of web3. Through the Rootstock Grants Program, our goal is to empower ventures of this nature, ensuring they receive the requisite resources and mentorship to thrive. We’re elated witnessing a diverse array of solutions under development, enriching the Rootstock ecosystem significantly.”
He continued, “Throughout the initial two waves, a multitude of pioneering projects have played a pivotal role in shaping the Rootstock ecosystem, laying the groundwork for a burgeoning global economy. Once again, we beckon founders and developers to submit their applications, tapping into $2.5 million in funding for projects aligned with our vision for a secure and inclusive global financial system.”
For those aspiring to be a part of this transformative journey, applications for the Rootstock Grants Program’s latest wave can be submitted through the official website.
About IOV Labs: IOV Labs is at the forefront of developing blockchain technologies essential for a burgeoning global financial ecosystem promoting opportunity, transparency, and trust. The organization actively contributes to the advancement of the Rootstock blockchain and Rootstock Infrastructure Framework (RIF).
The Rootstock network stands as one of the most secure smart contract platforms globally, capitalizing on Bitcoin’s unmatched hash power while extending its capabilities.
Rootstock Infrastructure Framework (RIF) encompasses a suite of open and decentralized infrastructure protocols, streamlining the development of distributed applications (dApps) within an integrated environment.
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