The Web3 Foundation Launches Polkadot’s Relayers Incubator Program
The Web3 Foundation, the organization behind the Polkadot blockchain protocol, has introduced a new initiative to allocate $22.08 million and 5 million DOTs (Polkadot’s native cryptocurrency) by 2024. This move aims to strengthen the existing community-governed funding mechanism from the Polkadot Treasury. The foundation was established in Switzerland by Dr. Gavin Wood, co-founder and former CTO of Ethereum, and has been nurturing decentralized web software protocols.
More updates to come
The Web3 Foundation’s latest initiative will focus on supporting projects that have the potential to shape Polkadot’s future. However, specific details about the program, such as the official launch date and funding application guidelines, have not been disclosed yet. The foundation plans to provide more information in the coming weeks.
Under new leadership
This announcement follows the recent appointment of Fabian Gompf as the new CEO of the Web3 Foundation. Gompf, who previously served as VP of Ecosystem Development at Parity Technologies, expressed his excitement about collaborating with the Polkadot community. This commitment is evident in the foundation’s efforts to empower more voices within the ecosystem.
Hot Take: The Web3 Foundation Empowers Polkadot’s Future with New Funding Initiative
The Web3 Foundation is taking a significant step towards strengthening and shaping Polkadot’s future by launching its Relayers Incubator Program. With a substantial investment of $22.08 million and 5 million DOTs, the foundation aims to support projects that contribute to the success of Polkadot. By expanding the community-governed funding mechanism, the initiative empowers more voices within the ecosystem. Although specific details are yet to be revealed, this move demonstrates the foundation’s commitment to collaboration and innovation. As the Web3 Foundation continues to nurture decentralized web software protocols, Polkadot is set to evolve and thrive under new leadership and a renewed focus on community-driven development.
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