Polygon Labs has launched a Community Treasury to support ecosystem projects, offering 35 million MATIC tokens in the first season. Applications are open from June 11 to August 31, 2024, with monthly evaluations and distributions.
The initiative plans to allocate 1 billion POL tokens over the next decade, with 100 million distributed annually. Projects can receive funding ranging from 5,000 to 50,000 MATIC tokens.
Polygon Labs emphasizes the importance of developer contributions to its blockchain network, citing past successes like the $1 million grant to QuickSwap in 2021. The program is designed to drive significant advancements in the blockchain space by supporting projects on the Polygon and Ethereum blockchains.
By investing in the Community Treasury, Polygon Labs is committed to fostering innovation and long-term growth in the crypto ecosystem.
