Polkadot Unveils Detailed 2024 Grants and Funding Guide

An interconnected network of public blockchains has released a comprehensive guide detailing the funding options available for projects and individuals at various stages of development.

The guide covers a range of funding sources, including venture capital, ecosystem-wide grants, specialized development grants, community-driven funding initiatives, project-specific grants, and bounties. It highlights opportunities from small grants to multi-million dollar funds, particularly focusing on sectors such as DeFi, gaming, and infrastructure.

Notably, Scytale and Harbour Industrial Capital have emerged as significant players by providing both capital and expertise to expedite Polkadot-based projects. Scytale, which has previously invested in initiatives like Astar and Centrifuge, has recently launched a dedicated Polkadot Ecosystem Fund.

Harbour, on the other hand, places its emphasis on DeFi, NFTs, and metaverse projects, engaging through Parachain auctions.

Specific projects are also offering targeted grants. For instance, Moonbeam has introduced a $10 million Innovation Fund to enhance development in gaming and real-world assets. The Acala Grants Program has supported several pre-seed and seed-stage startups integrating with the Acala network, while Aleph Zero has provided funding across various tracks to stimulate developer innovation.

In addition, the Web3 Foundation Grants Program has been active in funding software development and research linked to Polkadot and Kusama, with the opportunity to receive prizing of up to 993,286.08 DOT.

This initiative is uniquely financed through Polkadot’s on-chain Treasury, which is governed by the network’s token holders via an on-chain governance system known as OpenGov. With over 20 million DOT held, the Treasury is committed to supporting projects that enhance the Polkadot ecosystem, illustrating a new model of decentralized financial governance.

Community-driven funding initiatives, like Polimec, a decentralized funding protocol, empower stakeholders to engage in funding rounds. Furthermore, Polkaport East aims to establish a key hub for Polkadot in Hong Kong, which is expected to attract new teams and institutional investors.

Additionally, Polkadot has initiated bounties to encourage contributions, such as the Polkadot DeFi Infrastructure & Tooling Bounty, which has allocated $4 million for the development of tools and infrastructure that address barriers to Polkadot adoption. The Polkadot Games Bounty also provides grants to game developers based on their milestone achievements.

Earlier this year, Polkadot streamlined its governance model to allow simultaneous voting on multiple issues, all managed directly by the community.

Remaining true to its blockchain principles, Polkadot, along with its experimental network Kusama, has drawn inspiration from earlier platforms to foster innovation and support within its ecosystem.