Kadena, a Layer-1 proof-of-work protocol, has unveiled its new $100 million grant.
The program is part of Kadena Eco, a strategic initiative that brings together industry thinkers, tech talent, and funding to fuel the development of Kadena’s ecosystem.
Kadena allocates $100 million for blockchain development
An innovation network designed to fuel the mainstream adoption of Web3, Kadena Eco aims to speed the development and adoption of meaningful applications that benefit everyday people. The network leverages Kadena’s builder-centric blockchain that enables developers to combine Web3 innovation with Web2 usability.
Founders and entrepreneurs looking to build on Kadena or develop other strategic components of the network will now be able to apply for its new grant program. The platform has allocated $100 million to the program, calling on high-quality, open-source projects for gaming, metaverse, NFTs, Web3, DeFi, and DAOs to apply.
All applicants must be willing to adopt Kadena’s “build in the open” philosophy by contributing content, tutorials, and product explainers in all relevant channels and communities. Grant applications will be evaluated based on technical strength, details of specifications, team experience, and general usefulness to the Kadena ecosystem. In turn, Kadena Eco will offer valuable mentorship, in-person collaborations, and significant monetary support.
Led by CEO Francesco Melpignano, Kadena Eco will accelerate the growth of blockchain technology by providing builders with unique, scalable architecture and safe smart contracts. He will work hand-in-hand with Paul Hsu, the founder, and CEO of Decasonic, to deploy capital, technical, and strategic support to projects.
“Kadena combines the functionality of blockchain tech with the accessibility of the internet we all know and use every day, making it the perfect platform for builders to create their projects,” Melpignano told CryptoSlate. “We work with developers and builders to launch their projects and back them up with the support they need to launch into the future. We have the resources and the infrastructure to create a multi-generational, sustainable ecosystem – there’s no better time than now for builders to get on board.”
Kadena’s grant program will consist of several distinct but interconnected components. These include a research and development division to transform complex technical concepts into real-world practical applications, an incubator for hands-on technical development, an accelerator for early capital and guidance, and a venture fund offering smart capital and operational expertise.
“We want to empower creators, entrepreneurs, and anyone building stuff to keep the profits from their creativity. With blockchain, this is the first time we’re able to own our digital assets and goods – and truly have digital ownership over things happening on the internet. This wasn’t possible before the invention of blockchain. That’s why Kadena Eco is helping to scale blockchain for the mainstream and make it accessible to billions of people,” Melpignano explained.