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The Avalanche Community Grants Program
The Avalanche Foundation has introduced the Avalanche Community Grants Program as a way for projects and builders to thrive within the Avalanche ecosystem. In a strategic partnership with Gitcoin, the Foundation will distribute funds related to the grant in alignment with community donations, promoting crowdfunding within the ecosystem. Submissions for the program will be accepted starting on March 26th, with previous contributors also eligible to participate.
Program Structure and Funding
The Avalanche Community Grants Program will consist of multiple rounds, each with specific requirements and funding ceilings. To maximize the impact of the grant program, each round will leverage the Gitcoin Grants Stack, as well as quadratic and retroactive funding mechanisms.
Gitcoin, a platform that has raised $4.2 million in donations, distributed over $60 million for public goods funding, and onboarded 312,000 builders, has supported more than 3,000 builder projects through bounties, hackathons, and grant programs. Notable recipients include projects like 1Inch and Uniswap.
Foundation and Community Collaboration
Avalanche Foundation CEO, Aytunc Yildzli, sees the partnership with Gitcoin as an opportunity to drive project development through a proven incentive framework and further enhance the Avalanche ecosystem. Co-Founder of Gitcoin, Kyle Weiss, highlights that the collaboration will empower the Avalanche community to oversee grant funding and ecosystem growth.
Encouraging Community Involvement
Through the Community Grants Program, users within the Avalanche ecosystem will have the opportunity to donate to projects of their choice. Grantees, spanning public goods software, analytics, education, and other sectors, will be required to contribute to the advancement of the Avalanche ecosystem.
Additional Initiatives
Besides the Avalanche Community Grants Program, Avalanche is also actively involved in other initiatives such as the Culture Catalyst, Multiverse, and Avalanche Rush. Community members can participate in voting on fund disbursements, with higher AVAX matching rewards allocated to projects with strong community support.
Gitcoin, known for developing technologies that facilitate community funding, development, and resource protection, has channeled over $60 million towards developers supporting public goods activities within DeFi.
Avalanche, a smart contracts platform, continuously evolves and enables near-instant transaction finalization. Its consensus protocol, Subnet framework, and HyperSDK toolkit empower Web3 builders to deliver enhanced and tailored services within the blockchain ecosystem.
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