The focus of the grant program will be on the development of out-of-the-box inter-chain solutions and other interoperability technologies within the Waves ecosystem.
Acknowledging the importance of interoperability between different blockchains, the Waves Association is launching a grant program, under which 1,000,000 WAVES — valued at more than $3.11 million at the time of writing — will be distributed over a one-year period.
The funding will go to developers and teams working on bringing interoperability to multiple blockchains and building solutions accessible across various networks. To embrace a variety of projects, we’ll offer three types of grants: grants for specific assignments proposed by the Waves Association, grants to fund initiatives from the community, and smaller grants for Waves Association assignments that can be executed at hackathons.
The main goal of the grant program is the provision of funding for the development of inter-chain solutions — especially those which pursue an out-of-the-box approach, — and other interoperability technologies.
Existing blockchain platforms do not allow data transfer between them, which complicates the operation of decentralized applications (dApps) and slows down the wider adoption of blockchain technology. Fragmented ecosystems with amazing tools that are available only on their own chains will inevitably suffer from chain congestion and limitations of their smart contracts. This issue can be solved by the development of interoperability protocols and other inter-chain solutions that unite existing blockchains and dApps without barriers, or those available as an out-of-the-box service.
At this point, interoperability technologies require substantial research and improvement, which the Waves Association will fund through this grant program.
Consistent and gradual process
In the initial stages, we will announce specific, foundational assignments, for which developer teams will be able to apply. Based on careful consideration of applications, grants will be released to the teams that are best prepared and suited for a specific assignment. We also see demand for some small-scale solutions that could be developed and deployed rather quickly, at hackathons. Therefore, in the next few months, a number of online hackathons will be announced. All decisions on grant issuing will be made by Waves Association members under the DAO model, which has already been developed by the community members, specifically for Waves Association needs.
To facilitate a consistent, step-by-step development process for inter-chain solutions, grant execution will be done in stages, and performance on every stage will be evaluated by WA members.
Going beyond assignments
While in its first stages, the grant program will be focused on assignments proposed by the Waves Association. Later stages will include consideration of creative proposals from developer teams. Grants of up to 300,000 WAVES will be released for the implementation of the most promising proposals.
To learn more about the Waves Association grant program, read the grant program website.
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