The Arbitrum Foundation, which oversees the expansion and upkeep of the Arbitrum (ARB) ecosystem, announced that it will be accepting applications for its third wave of grants starting on April 15 and running until the end of June.
Following the fundraising initiative’s second phase’s conclusion on April 3rd, this news has been made. The Grants Program seeks to support startups as they enter the Arbitrum blockchain ecosystem and begin their growth journey.
This initiative aims to facilitate the growth of the Arbitrum developer and user community and draw in elite infrastructure providers to augment the network’s functionalities. This entails expanding Arbitrum technology’s application across a range of markets, use cases, and project sizes.
Phase 3 will continue to focus on decentralized applications (dApps) while introducing grant tracks, a consistent process for awarding grants. Projects will be divided into different funding tracks according to their type, stage, and potential for growth. To improve equity and transparency in the grant awarding process, each grant track will have specified goals and a budget.
The Foundation Grants Program welcomes projects that support the Arbitrum ecosystem. Phase 3 prioritizes dApp projects, such as games, non-fungible tokens (NFTs), social platforms, decentralized autonomous organizations (DAOs), and DeFi applications.
The Grants Program offers two types of grants to suit applicant teams’ needs: Growth Grants target small to medium-sized teams proficient in smart contract development and Web3 product creation, aiming to deploy projects on Arbitrum, with grants up to $50,000.
The program also provides the Advanced Growth Grant for larger teams with proven expertise in Web3 product development, offering grants up to $150,000 for initiatives launching on Arbitrum.
Most of the awards usually fall between $10,000 and $150,000 in ARB tokens. Applications aligned with Arbitrum’s goals, including growth milestones, KPIs, and a clear mainnet launch timeline, stand a better chance for acceptance into the Grant Program.
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