Web3 foundation plans to allocate $22 Million to Polkadot projects
The Web3 Foundation, a firm whose flagship project is the Polkadot blockchain protocol, has unveiled a new initiative to allocate $22.08 million and 5 million DOTs throughout the year 2024. This move aims to bolster the existing community-governed funding mechanism, which originates from the Polkadot Treasury. More updates to come Web3 Foundation was established in Switzerland by the co-founder and former chief technology officer of Ethereum, Dr. Gavin Wood, where it has continued to nurture applications for decentralized web software protocols. 1/ Web3 Foundation is excited to announce a new program to kickstart teams and individuals wanting to contribute to the success of Polkadot. Our ecosystem has many voices, and we want to empower more of them to become leaders. — Web3 Foundation (@Web3foundation) October 10, 2023 By design, the firm’s latest initiative will enhance the Polkadot Treasury’s community-governed funding mechanism by focusing on supporting p...