The Maelstrom Fund, founded by BitMEX co-founder Arthur Hayes, has launched a grant program to support Bitcoin developers. The initiative aims to enhance network performance and scalability, with grants ranging from $50,000 to $150,000, and potential increases up to $250,000.
Funding will be distributed in Bitcoin, Circle’s USDC, and Tether’s USDT by Q3 or Q4 of 2024. Applications are open until August 25, and candidates must undergo at least one interview. The selection committee includes Arthur Hayes and Jonathan Beer.
Founded in spring 2023, Maelstrom Capital operates as a family office for Hayes, focusing on streamlined investments without liquidity providers. This grant program underlines Maelstrom’s commitment to bolstering Bitcoin’s infrastructure and promoting sustainable development.
By incentivizing significant advancements, this initiative could drive substantial improvements in the Bitcoin ecosystem, reflecting Hayes’ strategic approach to fostering innovation in the cryptocurrency space.
