Polygon will contribute $200,000 to Grants Round 12 and run its own pool.
Gitcoin to make grants funding easier and more affordable with Polygon token.
Polygon has committed $1 million to Gitcoin in support of digital public goods, making one of the largest donations to the decentralized funding platform for open-source projects. Gitcoin is also adding an option to check out grants with Polygon’s popular $MATIC token.
The funds will be allocated evenly over Gitcoin’s next five quarterly grants rounds from December 2021 through December 2022. Polygon is only the fourth organization that has committed over $500,000, joining ENS, Badger, and Ethereum Foundation as one of the biggest backers on the platform.
Polygon will also be available as an option to check out grants, making it easier and more affordable for Gitcoin’s growing community of over 200,000 supporters to fund public goods. Until now, grants could only be funded with either Ethereum or zkSync.
Also Read: Polygon Announces Polygon Grants Hackathon: $100K in Prizes, VC funding and more!
“We’re honored to have the support of Polygon,” said Scott Moore, Co-Founder and Head of Ecosystem Development at Gitcoin. “With this incredible donation, they have demonstrated their deep commitment to growing the open source ecosystem and to helping build coordination tools. We believe this is only the beginning of a meaningful partnership.”
Polygon, itself an open source project built by a decentralized team of contributors from all over the world, has been an active supporter of the broader software development community. The company in August kicked off a hackathon with $100,000 cumulative prize pool. Last month, it joined Outlier Ventures in launching an accelerator program today to help more Web 3.0 teams use Polygon to scale their projects.
Gitcoin is the largest implementation of Quadratic Funding, a radically democratic approach to allocating resources for public goods. Since its founding in 2017, Gitcoin has facilitated over $40 million in funding for open source software including notable projects such as Uniswap and 1inch. Thanks in part to Polygon’s contribution, the upcoming Grants Round main matching pool will set a new record, eclipsing the high of $815,000 in the previous round.
Also Read: Outlier Ventures and Polygon Announce an Accelerator Program to Advance Web3
As a part of the donation, Polygon is contributing $200,000 to Gitcoin’s upcoming Grants Round 12 Quadratic Funding match pool, which takes place in December 2021. Polygon will also participate in Gitcoin’s new ecosystem grants program and will run its own matching pool alongside the main one.
If you are a developer, click here to find out how you can earn by participating in sponsored hackathons, bounties, and funded community Gitcoin grants. If you have a problem that needs solving, learn how you can fund a grant here. Keep up with the latest news on Polygon Developers twitter channel, take a deep dive into the available blockchain technology resources or say hi on Discord.
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