ETC Grants Dao officially launches its first $1 million funding initiative, dedicated to fostering innovation and growth in the next-generation ETC ecosystem.
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ETC Grants Dao officially launches its first $1 million funding initiative, dedicated to fostering innovation and growth in the next-generation ETC ecosystem.
ETC? Grants? Dao? The first round of the $1 million funding initiative has officially launched, aiming to encourage and support developers actively building applications and protocols on ETC.
Navigating Web3 tides with focused insightsOn January 31, 2023, the ETC Grants DAO officially launched its first round of $1 million in funding to encourage and support developers building applications and protocols on the ETC network, including scaling solutions, cross-chain bridges, lending protocols, and more. As a non-profit independent organization, ETC Grants DAO (EGD) was formally established in July 2022 when Bitmain and Antpool announced their commitment to provide $10 million in funding for the Ethereum Classic ecosystem.
Following the Bitcoin philosophy and Proof-of-Work (PoW) principles proposed by Satoshi Nakamoto, EGD brings together Ethereum supporters, advocates, and builders dedicated to advancing the development and long-term growth of the Ethereum ecosystem. As blockchain infrastructure, ETC’s PoW mechanism offers exceptional security, decentralization, and censorship resistance.
The current EGD grant program consists of seven steps:
Step 1: Proposal Call Opens
Step 2: Submit Grant Application
Step 3: Evaluation / Technical Review
Step 4: Approval of Application Results
Step 5: Due Diligence and KYC/AML Requirements
Step 6: Grant Progress and Milestone Review
Step 7: Summary and Retrospective
To further promote the growth of the ETC ecosystem, Bitmain has donated 100 E9 Pro mining rigs to the ETC Grants DAO. Successful applicants may choose to receive funding either in ETC or as equivalent mining equipment. The grant application window opens on January 31, 2023 (this Tuesday) and will close on April 30, 2023. For more information about the EGD grant program, including basic details, application procedures, and developer resources, please visit https://etcgrantsdao.com/
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